844 W Martin Luther King Jr W
Los Angeles, CA 90037
MLS #14730987

Income
  • 24units
  • 14,390sq ft
Pending Sale $1,800,000
Est. P&I payment: $6874.78/mo
844 W Martin Luther King Jr W, Los Angeles, CA 90037
  • 844 W Martin Luther King Jr W, Los Angeles, CA 90037 Photo 1
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Description for 844 W Martin Luther King Jr W, Los Angeles, CA 90037
PRICED FOR A FAST SALE. The subject property is a 2-story, 24-unit apartment building of wood/frame stucco consisting of two 12-unit sister buildings built in 1924 & 1925. The buildings are situated on a double lot of over 11,000 S.F. of land zoned LAR-3 suitable for future potential development. Located just across from the Los Angeles Memorial Coliseum and just south of University of Southern California in a gentrifying part of South Los Angeles. The units consist of 21 singles and 3 one bedroom units. Almost all units have been renovated with pergo flooring and both buildings were just freshly painted. Both buildings are separately metered for electricity and master metered for gas & water. Each building has its own laundry room that are currently not in use and can provide additional income for the new owner. PRICED AT ONLY 8.3 X GROSS & $75,000/UNIT. Please drive by only, do not disturb tenants as they are not aware of sale. Complete marketing package is available
MLS #14730987
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My Notes for MLS #14730987

General Features

  • Number Of Buildings: 2
  • Number Of Units Total: 24
  • Year Built: 1924
  • Zoning: LAR3
  • Improvements Amount: 475,418
  • Land Value: 339,584

Exterior Features

  • Lot Size Acres: 0.25
  • Lot Size Dimensions: 90x123
  • Lot Size SqFt: 11,094
  • Parking Features: None

Interior Features

  • Levels: Two

Utility Features

  • Cooling: None
  • Heating YN: 1
  • Heating: Wall Heater
  • Appliances: None

Financial Features

  • CapRate: 5.9
  • Net Operating Income: 105,483
  • Price Per SqFt: 125.09
  • Total Expenses: 100,000
  • Gross Multiplier: 8.3
  • Gross Operating Income: 205,483

Miscellaneous Features

  • Building Area Total: 14,390
  • Days On Market: 17
  • Lot Size Source: See Remarks
  • Special Listing Conditions: Standard
  • Cumulative Days On Market: 17

Location

 
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Directions to 844 W Martin Luther King Jr W, Los Angeles, CA 90037
Between Vermont & Hoover just across the street from LA Memorial Coliseum and just South of USC campus.
Listing information for 844 W Martin Luther King Jr W, Los Angeles, CA 90037 was graciously provided by our friends at the listing brokerage, Charles Dunn West La and by listing agent Gheitanchi Ramin DRE# 01501715

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P&I Payment $6874.78
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Please Note: All information in this site is deemed reliable but not guaranteed. The property information provided on EXIT Alliance Realty's websites is for personal, non-commercial use only and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Property information is gathered from third-party resources including the seller and public records. EXIT Alliance Realty, Onjax, LLC, its affiliates, owners, subsidiaries and subscribers disclaim any and all representations or warranties as to the accuracy or reliability of the information provided. You should verify all claims through personal inspection and/or contact with the appropriate real estate professionals.
Last Updated 01/21/2018 at 6:08am
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