309 S Hamel Rd

Los Angeles, CA 90048

$3,000,000
Last Sold Price
8
Beds
9
Baths
5,540 Sq. Ft.
$542 / Sq. Ft.
5,540
Sq. Ft.
$542
per Sq. Ft.
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Sold 10/16/23
Sold 10/16/23
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Description

Being Offered with 8700 West Third Street (Adjacent Parcel) - The offering is a very well maintained 8 Unit Apartment Building located in Prime Beverly Grove adjacent to Beverly Hills & West Hollywood. This Turn Key Asset features 8 Units, all of which have been fully remodeled with stainless steel appliances, hardwood floors, granite counter tops & in unit washer + dryer. There is an excellent unit mix consisting of Seven 1B/1B & One 1B/2B Unit. There is ample parking available and all tenants are...Being Offered with 8700 West Third Street (Adjacent Parcel) - The offering is a very well maintained 8 Unit Apartment Building located in Prime Beverly Grove adjacent to Beverly Hills & West Hollywood. This Turn Key Asset features 8 Units, all of which have been fully remodeled with stainless steel appliances, hardwood floors, granite counter tops & in unit washer + dryer. There is an excellent unit mix consisting of Seven 1B/1B & One 1B/2B Unit. There is ample parking available and all tenants are on Month to Month tenancy. Rents are up to market with only 15% Upside. Property is under Los Angeles Rent Control. This is a rare opportunity for an investor to acquire a Turn Key Asset in an Ultra Prime Location along with the adjacent Parcel as a Rare Covered Land Play with the potential to build a Mix Used Development in the future. Contact Agent for information on Other Parcel.
  1. Listed by Michael Monempour • DRE #01996829 • Brokerage DRE #01001040 • Kidder Mathews of California, Inc.

Property Details for 309 South Hamel Road

Zoning
LAR3
Parcel Number
4334011009
Total Units
8.0
Living Area
5540
Source Living Area
Vendor Enhanced
Area
Beverly Center-Miracle Mile (C19)
Vacancy Rate
3%
Lot Size Area
6511
LISTING UPDATED: 11/03/2023 03:23 PM

Property Details for 309 South Hamel Road

StatusSold
MLS #23-296708
Days on Market20
Taxes-
HOA Fees-
Condo/Co-op Fees-
Property TypeMulti Family
MLS TypeResidential Income
Year Built1962
Lot Size0.15 AC / 6,511 SF
CountyLos Angeles County
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Location

Listing Courtesy of Kidder Mathews of California, Inc., Michael Monempour, DRE #01996829

Sold By Non-member Office, Non-member 999999, DRE #3071058

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Building Information for 309 South Hamel Road

Stories2Residences-Year Built1962Building Size-Lot Size0.15 AC / 6,511 SF

Payment Calculator

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$18,237 per month

30 year fixed, 6.46% Interest

Principal and Interest

$15,107

Property Taxes

$3,130

HOA Dues

$0

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Property Information for 309 South Hamel Road

Community / Development
Community / Development
  • Tax Mello Roos: No
  • Number Of Units: 8
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: 8
  • Water Heaters: 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: $274,122
  • Net Operating Income: $180,247.00
  • Gross Income: $282,600
  • Gross Scheduled Income: $282,600
  • Cap Rate: 4.56%
  • Gross Rent Multiplier: $13.98
  • Actual Annual Gross Rent: $282,600.00
  • Actual Rent Total: $282,600.00
  • Financial Info as Of: 08/01/2023
  • Vacancy Allow Dollar: $8,478.00
  • Owner Pays: Water
  • Total Annual Expense: 93875
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1495
  • Lot Size Square Feet: 6511
Parking Details
Parking Details
  • Parking Garage: Above Street Level
  • Total Parking: 8
  • Parking Features: Driveway Down Slope From Street
Interior Features
Interior Features
  • Levels: Two
  • Cooling: Central Air
  • Cooling Type: Air Conditioning, Central
  • Heating: Central
  • Heating Type: Central
  • Equipment: None
  • Laundry: In Unit
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 08-01-2023
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: Yes
  • Unit Rent: $2,900.00
  • Unit Actual Rent: $20,300.00
  • Unit Projected Rent: $22,750.00
  • Like Units: 7
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 2
  • Unit Furnished: Yes
  • Unit Rent: $3,250.00
  • Unit Actual Rent: $3,250.00
  • Unit Projected Rent: $3,500.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $364,907.00
  • Assessed Improvement Percent: 30.0
  • Assessed Land Value: $851,458.00
  • Assessed Land Percent: 70
  • Assessed Total Value: $1,216,365.00

Property History for 309 South Hamel Road

DateEvent & SourcePriceAppreciation
Oct 16, 2023

Sold

SDMLS #23-296708

$3,000,000—
Oct 16, 2023

Sold

CLAW #23-296708

$3,000,000—
Oct 16, 2023

Sold

CRMLS #23296708

$3,000,000—
Sep 27, 2023

Sold (Public Record)

Public Record #1520188630

$3,000,000

+8.3% / yr

Aug 21, 2023

Pending

CRMLS #23296708

—
Aug 21, 2023

Pending

CLAW #23-296708

—
Aug 21, 2023

Pending

SDMLS #23-296708

—
Aug 1, 2023

Listed (Active)

CRMLS #23296708

$3,950,000—
Aug 1, 2023

Listed (Active)

SDMLS #23-296708

$3,950,000—
Aug 1, 2023

Listed (Active)

CLAW #23-296708

$3,950,000—
Jan 6, 2010

Sold (Public Record)

Public Record #281158765

$1,000,000—
DateEvent & SourcePrice
10/16/2023

Sold

SDMLS #23-296708

$3,000,000
10/16/2023

Sold

CLAW #23-296708

$3,000,000
10/16/2023

Sold

CRMLS #23296708

$3,000,000
09/27/2023

Sold (Public Record)

Public Record #1520188630

$3,000,000

+8.3% / yr

08/21/2023

Pending

CRMLS #23296708

—
08/21/2023

Pending

CLAW #23-296708

—
08/21/2023

Pending

SDMLS #23-296708

—
08/01/2023

Listed (Active)

CRMLS #23296708

$3,950,000
08/01/2023

Listed (Active)

SDMLS #23-296708

$3,950,000
08/01/2023

Listed (Active)

CLAW #23-296708

$3,950,000
01/06/2010

Sold (Public Record)

Public Record #281158765

$1,000,000

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

Public Records for 309 South Hamel Road

Taxable ValueLand$2,142,000Additions$918,320Total$3,060,320
Tax Record2025$37,560 ($3,130 / month)
Home Facts
Total Finished SqFt5,540 SqFtAbove Grade Finished SqFt5,540 SqFtLot Size6,511 SqFtStyleMulti-Family Res (5+ Units)Year Built1962ZoningLAR3CountyLOS ANGELESAPN4334-011-009

Schools near 309 South Hamel Road

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Rosewood Avenue Elementary School
Public - K to 5
West Hollywood Opportunity School
Public - 7 to 12
Fairfax Senior High School
Public - 9 to 12
West Hollywood Elementary School
Public - K to 5
Rating
School
Distance
Rosewood Avenue Elementary School
PublicK to 5

West Hollywood Opportunity School
Public7 to 12

Fairfax Senior High School
Public9 to 12

West Hollywood Elementary School
PublicK to 5

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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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, Inc., its subsidiaries, affiliates and their agents and associated third parties 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 Kidder Mathews of California, Inc., Michael Monempour, DRE #01996829

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.