1515 West 103rd Street

Los Angeles, CA 90047

$3,257,000
Price
8
Beds
20
Baths
12,752 Sq. Ft.
$255 / Sq. Ft.
12,752
Sq. Ft.
$255
per Sq. Ft.

Description

The subject property is a 16-unit multifamily 2 story apartment building build in 1965 located at 1515 W 103rd St Los Angeles CA 90047. The building is approximately 12,752 Sq Ft and sits on a 17,282 Sq Ft lot, with 26 bedrooms and 22 bathrooms comprised of 2-3 bedroom 2 bath units, 4-2 bedroom 2 bath units 2-2 bedrooms 1 bath and 8-1-bedroom 1 bath units. This property offers a tremendous opportunity for long term growth and stability, opportunity to add value through long term rental increases,...The subject property is a 16-unit multifamily 2 story apartment building build in 1965 located at 1515 W 103rd St Los Angeles CA 90047. The building is approximately 12,752 Sq Ft and sits on a 17,282 Sq Ft lot, with 26 bedrooms and 22 bathrooms comprised of 2-3 bedroom 2 bath units, 4-2 bedroom 2 bath units 2-2 bedrooms 1 bath and 8-1-bedroom 1 bath units. This property offers a tremendous opportunity for long term growth and stability, opportunity to add value through long term rental increases, current rents are 35% under market rents. Investments should result in a stabilize 9.5 + CAP rate. The building offers modern convenience with extra-large floor plans, great amenities and low maintenance to include full laundry facility, covered car ports and low vacancy. These benefits will keep the building’s chances of operating at full occupancy, as well as fundamentally serve as a comfortable living establishment for tenants, allowing the property to realize an upside in overall rental income and property value appreciation over the next five - ten years.
  1. Listed by Harry Alexander • DRE #00664511 • Brokerage DRE #01432058 • Equity North Investments Inc. • DAVID@EQUITYNORTHINVESTMENTS.COM

Property Details for 1515 West 103rd Street

Parking Spaces Total
16
Private Pool
No
Total Units
16.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
12752
Assessor Parcel Number
6059-023-023
Property Attached YN
true
LISTING UPDATED: 10/16/2024 05:52 AM

Property Details for 1515 West 103rd Street

StatusActive
MLS #RS24095513
Days on Market168
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1965
CountyLos Angeles County

Building Information for 1515 West 103rd Street

Building/Complex1515 W 103rd StFloor-Stories2Residences-Pet Policy-Year Built1965Building Size-

Property Information for 1515 West 103rd Street

Rental Info
Rental Info
  • Tenant Pays: Electricity, Gas
Income / Expense / Tax Details
Income Details
  • Gross Income: $295,056
  • Gross Scheduled Income: $295,056
  • Gross Spendable Income: $189,662
  • Vacancy Allowance: 8556
  • Vacancy Allowance Rate: 3
  • Gross Operating Income: $289,300
  • Net Operating Income: $189,662
  • Laundry Income: $2,800
  • Gross Multiplier: 11.8
  • Cap Rate: 5.7
Expense Details
  • Operating Expense: $99,638
  • Operating Expense Percent: 34.00%
  • Insurance Expense: $8,607
  • Professional Management Expense: $20,248
  • Trash Expense: $0
  • Water Sewer Expense: $8,400
  • Total Expenses: $91,031
Tax / Assessment Info
  • Tax Tract Number: 3002
  • Tax Census Tract: 6002.02
  • CFD/Mello-Roos Fee: $7,560
  • Tax Lot: 89
Community / Development
Community / Development
  • Community Features: Curbs, Park, Storm Drains
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area
  • Laundry Equipment Own Lease: Own
Exterior Features
  • Roof: Flat
  • Entry Location: Above Grade Finished Area
  • Fence: Yes
  • Fence: Wrought Iron
  • Fencing: Wrought Iron
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: 16-20 Units/Acre
  • Direction Faces: South
  • Number Of Units: 16
  • Land Lease: No
  • Land Lease Type: Fee
  • Sewer: Private Sewer
Parking Info
  • Garage Spaces: 0
  • Parking: Yes
  • Parking Garage: Carport
  • Parking Garage Spaces: 0
  • Carport Spaces: 16
  • Parking Features: Carport
Unit Information
Unit 1
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $4,724
  • Unit Type Total Rent: $4,724
  • Unit Type Pro Forma: 6526
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $6,436
  • Unit Type Total Rent: $6,436
  • Unit Type Pro Forma: 10176
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 4
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $3,199
  • Unit Type Total Rent: $3,199
  • Unit Type Pro Forma: 5088
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 8
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $10,229
  • Unit Type Total Rent: $10,229
  • Unit Type Pro Forma: 16048
  • Unit Type Type: 4
Unit Information
  • Number Of Units Leased: 16
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 16
  • Number Of Separate Gas Meters: 16
  • Number Of Separate Water Meters: 0

Property History for 1515 West 103rd 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 1515 West 103rd Street

Taxable ValueLand$195,221Additions$800,480Total$995,701
Tax Record2024$20,434 ($1,703 / month)
Home Facts
Total Finished SqFt12,752 SqFtAbove Grade Finished SqFt12,752 SqFtLot Size17,282 SqFtStyleMulti-Family Res (5+ Units)Year Built1965ZoningLCR2*CountyLOS ANGELESAPN6059-023-023

Schools near 1515 West 103rd Street

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Charter - 6 to 8
Public - 9 to 12
Charter - 5 to 8
Rating
School
Distance
Manhattan Place Elementary School
PublicK to 5

Animo Charter Middle No. 3
Charter6 to 8

George Washington Preparatory High School
Public9 to 12

Teach Academy Of Technologies
Charter5 to 8

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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1515 West 103rd Street is a multi-family home for sale in Los Angeles, CA 90047. This property was listed for sale on May 15, 2024 by Equity North Investments Inc., it's currently listed at $3,257,000. This listing's school district is Los Angeles Unified School District. Nearby schools include Manhattan Place Elementary School, Animo Charter Middle No. 3 and George Washington Preparatory High School. 1515 West 103rd Street is a 8-bed, 20-bath, 12,752 sqft multi-family home built in 1965.

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. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Equity North Investments Inc., Harry Alexander, DRE #00664511

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.