1115 East 75th Street

Los Angeles, CA 90001

$1,350,000
Price
10
Beds
5
Baths
3,104 Sq. Ft.
$435 / Sq. Ft.
3,104
Sq. Ft.
$435
per Sq. Ft.

Description

We are pleased to present 1115 E 75th St, a 5-unit bungalow apartment community located in the Florence neighborhood of South Los Angeles, CA. The property, including a fully permitted ADU built in 2022, is comprised of an excellent unit mix of (3) 2 bed/1 Bath units, (1) 3 bed/1 Bath unit and (1) 1 Bed/1 Bath unit. There are currently four (4) Section 8 tenants in-place offering excellent security of income and collections. One unit (2bed/ 1 bath) is currently vacant, allowing an investor to capture...We are pleased to present 1115 E 75th St, a 5-unit bungalow apartment community located in the Florence neighborhood of South Los Angeles, CA. The property, including a fully permitted ADU built in 2022, is comprised of an excellent unit mix of (3) 2 bed/1 Bath units, (1) 3 bed/1 Bath unit and (1) 1 Bed/1 Bath unit. There are currently four (4) Section 8 tenants in-place offering excellent security of income and collections. One unit (2bed/ 1 bath) is currently vacant, allowing an investor to capture market or Section 8 rent immediately. Section 8 Voucher Payment Standards (per HACLA) are currently up to $2,407 for 1-bedroom units, $3,052 for 2-bedroom units, and $3,915 for 3-bedroom units as of 2/2024. The gated property also sits on a 5,007 square feet lot with rear and side alley access and parking for 4 vehicles.1115 E 75th St is centrally located just 4 miles from USC and Downtown with convenient access to the 110 freeway and walkability to local amenities along Central Avenue and Florence Avenue. South Los Angeles has seen significant rent growth over the past several years due to its relative housing affordability and convenient proximity to Downtown Los Angeles, Sofi Stadium, USC, Culver City, and South Bay. Rents in South LA have grown significantly over the past few years with average 2-bedroom market rents reaching $2,300-$2,600 and Section 8 Voucher Payment Standards rising up to $3,052. With low vacancy rates, landlord-favored market conditions, and numerous employment options nearby, South LA is poised for significant long-term growth.
  1. Listed by Brandon Evans • DRE #02058494 • Brokerage DRE #01380809 • Rosano Partners

Property Details for 1115 East 75th Street

Zoning
LCR3YY
Style
Bungalow
Cross Streets
E 75th St & Central Ave
Parcel Number
6024005032
Total Units
5.0
Living Area
3104
Source Living Area
Other
Area
Metropolitan South (C37)

Location

Listing Courtesy of Rosano Partners, Brandon Evans, DRE #02058494
Add your commute
LISTING UPDATED: 05/22/2024 12:01 AM

Property Details for 1115 East 75th Street

StatusActive
MLS #24-391941
Days on Market19
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1940
Lot Size0.11 AC / 5,007 SF
CountyLos Angeles County

Location

Listing Courtesy of Rosano Partners, Brandon Evans, DRE #02058494
Add your commute

Building Information for 1115 East 75th Street

Stories1Residences-Year Built1940Building Size-Lot Size0.11 AC / 5,007 SF

Payment Calculator

$8,350 per month

30 year fixed, 7.25% Interest

Principal and Interest

$7,368

Property Taxes

$982

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1115 East 75th Street

Community / Development
Community / Development
  • Number Of Units: 5
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 1
  • Number Of Buildings: 2
  • Type Of Units: Apartment
  • Security Features: Gated
  • Additions Alterations: Yes
  • Building Permit: Yes
Contract Info
Contract Info
  • Probate: No
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $139,200
  • Net Operating Income: $95,142.00
  • Gross Income: $139,200
  • Cap Rate: 7.05%
  • Gross Rent Multiplier: $9.70
  • Actual Annual Gross Rent: $139,200.00
  • Actual Gross Annual Income: $139,200
  • Actual Rent Total: $139,200.00
  • Vacancy Allow Dollar: $4,176.00
  • Vacancy Allow Percent: 3.00%
  • Total Annual Expense: 39882
Land / Lot Info
Land / Lot Info
  • Additional Parcel Number: No
  • Alley: Yes
  • Paved: Yes
  • Lot Acreage: 0.1149
  • Lot Size Square Feet: 5007
Parking Details
Parking Details
  • Parking Garage: None
  • Total Parking: 0
  • Parking Features: None
Interior Features
Interior Features
  • Levels: One, Multi/Split
  • Cooling: Wall/Window Unit(s)
  • Cooling Type: Wall/Window
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Flooring: Laminate
  • Equipment: Range/Oven
  • Cooking Appliances: Gas/Electric Range, Range
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: Accessory Bldgs
Lease Terms
Lease Terms
  • Entry Date: 05-14-2024
  • Rent Control: 1
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,900.00
  • Unit Actual Rent: $1,900.00
  • Unit Projected Rent: $1,900.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,156.00
  • Unit Actual Rent: $6,469.00
  • Unit Projected Rent: $2,350.00
  • Like Units: 3
Unit 3 Information
  • Unit Beds: 3
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $3,231.00
  • Unit Actual Rent: $3,231.00
  • Unit Projected Rent: $3,250.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108

Property History for 1115 East 75th Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1115 East 75th Street

Taxable ValueLand$525,588Additions$295,380Total$820,968
Tax Record2023$11,780 ($982 / month)
Home Facts
Total Finished SqFt2,340 SqFtAbove Grade Finished SqFt2,340 SqFtLot Size5,007 SqFtStyleQuadraplexYear Built1940ZoningLCR3YYCountyLOS ANGELESAPN6024-005-032

Schools near 1115 East 75th Street

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Wisdom Elementary School
PublicK to 6

Thomas A. Edison Middle School
Public6 to 8

John Hope Continuation School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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1115 East 75th Street is a multi-family home for sale in Los Angeles, CA 90001. This property was listed for sale on May 14, 2024 by Rosano Partners, it's currently listed at $1,350,000. It has been on the market for a total of 19 days and was last sold on February 9, 2017. This listing's school district is Los Angeles Unified School District. Nearby schools include Wisdom Elementary School, Thomas A. Edison Middle School and Academy For Multiligual Arts And Science At Mervyn M. Dymally High. 1115 East 75th Street is a 10-bed, 5-bath, 3,104 sqft multi-family home built in 1940.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Rosano Partners, Brandon Evans, DRE #02058494

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.