5700 South Van Ness Avenue

Los Angeles, CA 90062

$1,000,000
Last Sold Price
4
Beds
5
Baths
2,478 Sq. Ft.
$404 / Sq. Ft.
2,478
Sq. Ft.
$404
per Sq. Ft.

Description

Part of an 8 Building Portfolio! Can be sold individually or as a portfolio. 5700 Van Ness is a mostly Stabilized 5 unit apartment in Los Angeles County. Priced at a 9.86 GRM and 6.96% Current Cap rate, this asset is ideal for any investor looking for strong cash flow in a growing submarket of Los Angeles. The subject property boasts an excellent unit mix of (3) 1-Bed/1-Bath, (1) 3-Bed/1-Bath Units and (1) Studio, ideal for today’s renters. At only $210k/Unit, this asset provides near a 7% cap rate...Part of an 8 Building Portfolio! Can be sold individually or as a portfolio. 5700 Van Ness is a mostly Stabilized 5 unit apartment in Los Angeles County. Priced at a 9.86 GRM and 6.96% Current Cap rate, this asset is ideal for any investor looking for strong cash flow in a growing submarket of Los Angeles. The subject property boasts an excellent unit mix of (3) 1-Bed/1-Bath, (1) 3-Bed/1-Bath Units and (1) Studio, ideal for today’s renters. At only $210k/Unit, this asset provides near a 7% cap rate day one and stabilizes at 11.35%. 5700 Van Ness is minutes from Windsor Hills, Leimert Park and Inglewood.
  1. Listed by Aaron Jacobson • DRE #02100737 • Brokerage DRE #01972083 • Lyon Stahl Investment Real Estate, Inc. • 310-729-1559
  2. Listed by Taylor Avakian • DRE #02060040 • Brokerage DRE #02119386 • TAYVAY Corporation

Property Details for 5700 South Van Ness Avenue

Parking Spaces Total
0
Private Pool
No
Total Units
5.0
Building Type
Detached
Lot Size Source
Assessor
Living Area
2478
Assessor Parcel Number
5005-011-017
Property Attached YN
false
LISTING UPDATED: 09/04/2024 03:18 AM

Property Details for 5700 South Van Ness Avenue

StatusClosed
MLS #SB24098417
Days on Market30
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1924
CountyLos Angeles County

Building Information for 5700 South Van Ness Avenue

Building/Complex5700 S Van Ness AveFloor-Stories1Residences-Pet Policy-Year Built1924Building Size-

Property Information for 5700 South Van Ness Avenue

Income / Expense / Tax Details
Income Details
  • Gross Income: $106,460
  • Gross Scheduled Income: $106,460
  • Vacancy Allowance Rate: 3
  • Gross Operating Income: $103,266
  • Net Operating Income: $73,093
  • Gross Multiplier: 9.86
  • Cap Rate: 6.96
  • Financing: Conventional
Expense Details
  • Operating Expense: $30,173
  • Operating Expense Percent: 29.00%
  • Fuel Expense: $0
  • Electric Expense: $0
  • Insurance Expense: $0
  • Professional Management Expense: $0
  • Trash Expense: $0
  • Water Sewer Expense: $0
  • Total Expenses: $30,173
Tax / Assessment Info
  • Tax Tract Number: 0
  • Tax Census Tract: 2325.00
  • CFD/Mello-Roos Fee: $421
  • Tax Lot: 446
Community / Development
Community / Development
  • Community Features: Biking, Dog Park, Street Lights, Urban
Property / Structure Info
Interior Features
  • Laundry: No
  • Laundry Features: None
Exterior Features
  • Entry Location: Front
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: 0-1 Unit/Acre
  • Number Of Units: 5
  • Land Lease: No
  • Land Lease Type: Fee
  • Water: Public
  • Sewer: None, Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $583
  • Unit Type Total Rent: $583
  • Unit Type Pro Forma: 2132
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $2,888
  • Unit Type Total Rent: $2,888
  • Unit Type Pro Forma: 3915
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 3
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,800
  • Unit Type Total Rent: $5,401
  • Unit Type Pro Forma: 7221
  • Unit Type Type: 3
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1

Property History for 5700 South Van Ness Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 5700 South Van Ness Avenue

Taxable ValueLand$334,654Additions$239,835Total$574,489
Tax Record2024$7,310 ($609 / month)
Home Facts
Total Finished SqFt2,014 SqFtAbove Grade Finished SqFt2,014 SqFtLot Size4,988 SqFtStyleQuadraplexYear Built1924ZoningLAR2CountyLOS ANGELESAPN5005-011-017

Schools near 5700 South Van Ness Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Charter - K to 5
Charter - 6 to 12
Public - 9 to 12
Charter - 6 to 8
Rating
School
Distance
Alliance Ouchi-O'donovan 6-12 Complex
Charter6 to 12

California Collegiate Charter School
Charter6 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.

Similar Homes

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Similar Sold Homes

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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 Lyon Stahl Investment Real Estate, Inc., Aaron Jacobson, DRE #02100737; TAYVAY Corporation, Taylor Avakian, DRE #02060040

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.