1100 South Corning Street

Los Angeles, CA 90035

$5,500,000
Price
14
Beds
14
Baths
9,993 Sq. Ft.
$550 / Sq. Ft.
9,993
Sq. Ft.
$550
per Sq. Ft.

Description

8520 Whitworth Dr is a highly coveted Pico Robertson submarket, located just west of S La Cienega Blvd between W Olympic Blvd and W Pico Blvd, a premier Los Angeles neighborhood that attracts high-end renters with a consistently low vacancy rate and steady rent growth. The 2017 high quality construction is not subject to the Los Angeles Rent Stabilization Ordinance; the property totals 9,993 SF with seven spacious units that are all two-bedrooms (1,100-1,200 SF); there is one level of subterranean...8520 Whitworth Dr is a highly coveted Pico Robertson submarket, located just west of S La Cienega Blvd between W Olympic Blvd and W Pico Blvd, a premier Los Angeles neighborhood that attracts high-end renters with a consistently low vacancy rate and steady rent growth. The 2017 high quality construction is not subject to the Los Angeles Rent Stabilization Ordinance; the property totals 9,993 SF with seven spacious units that are all two-bedrooms (1,100-1,200 SF); there is one level of subterranean parking and one level of ground floor parking with 14 spaces total. Units have a condo feel each with a large patio and balconies, in-unit washers and dryers, fireplaces, recessed lighting, custom cabinets, and high-quality kitchens and bathrooms, and central air; the two units on the top floor feature vaulted ceilings. The building is currently fully occupied with strong in-place income; however, there is 18% rental upside achievable over time as units turn. There is a significant affordability gap between renting and home ownership in the neighborhood; within two miles of the subject property, the median home value is over $1 MM; the average household income within two miles of the property is $124,520. The Pico-Robertson neighborhood is an established Los Angeles community known for providing an array of amenities within a half-mile radius, the property has a walk score of 86 and is close proximity to S La Cienega, W Pico, and W Olympic Blvd with high-end retail options for residents.
  1. Listed by Neema Ahadian • DRE #01346750 • Brokerage DRE #01240999 • Marcus & Millichap

Property Details for 1100 South Corning Street

Zoning
LAR3
Parcel Number
4332029021
Total Units
1.0
Living Area
9993
Source Living Area
Vendor Enhanced
Area
Beverly Center-Miracle Mile (C19)
Vacancy Rate
0%
Lot Size Area
6097

Location

Listing Courtesy of Marcus & Millichap, Neema Ahadian, DRE #01346750
Add your commute
LISTING UPDATED: 04/15/2024 09:46 AM

Property Details for 1100 South Corning Street

StatusActive
MLS #24-372041
Days on Market58
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built2019
Lot Size0.14 AC / 6,097 SF
CountyLos Angeles County

Building

1100 S Corning St

4 StoriesBuilt in 2019

Location

Listing Courtesy of Marcus & Millichap, Neema Ahadian, DRE #01346750
Add your commute

Building Information for 1100 South Corning Street

Stories4Residences-Year Built2019Building Size-Lot Size0.14 AC / 6,097 SF

Payment Calculator

$33,669 per month

30 year fixed, 7.25% Interest

Principal and Interest

$30,016

Property Taxes

$3,653

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1100 South Corning Street

Community / Development
Community / Development
  • Number Of Units: 1
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 0
  • Number Of Buildings: 1
  • Type Of Units: 2 +2.25
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $296,878
  • Net Operating Income: $192,701.00
  • Gross Income: $306,060
  • Gross Rent Multiplier: $17.97
  • Total Annual Expense: 104177
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.14
  • Lot Size Square Feet: 6097
Parking Details
Parking Details
  • Parking Garage: Subterranean
  • Total Parking: 0
  • Parking Features: Subterranean
Interior Features
Interior Features
  • Levels: Multi/Split
  • Cooling: None
  • Cooling Type: None
  • Heating: None
  • Heating Type: None
  • Equipment: None
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 03-25-2024
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 3
  • Unit Furnished: No
  • Unit Rent: $4,000.00
  • Unit Actual Rent: $4,000.00
  • Unit Projected Rent: $4,000.00
  • Like Units: 6
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $3,584.00
  • Unit Actual Rent: $3,584.00
  • Unit Projected Rent: $4,333.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $2,032,411.00
  • Assessed Improvement Percent: 57.51
  • Assessed Land Value: $1,501,574.00
  • Assessed Land Percent: 42.49
  • Assessed Total Value: $3,533,985.00

Property History for 1100 South Corning 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 1100 South Corning Street

Taxable ValueLand$1,501,574Additions$2,032,411Total$3,533,985
Tax Record2023$43,831 ($3,653 / month)
Home Facts
Total Finished SqFt9,993 SqFtAbove Grade Finished SqFt9,993 SqFtLot Size6,084 SqFtStyleMulti-Family Res (5+ Units)Year Built2017ZoningLAR3CountyLOS ANGELESAPN4332-029-021

Schools near 1100 South Corning 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
Public - 6 to 12
Rating
School
Distance
Carthay Center Elementary
PublicK to 5

Emerson Community Charter School
Charter6 to 8

Fairfax Senior High School
Public9 to 12

Los Angeles Center For Enriched Studies
Public6 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.

Similar Homes

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1100 South Corning Street is a multi-family home for sale in Los Angeles, CA 90035. This property was listed for sale on March 4, 2024 by Marcus & Millichap, it's currently listed at $5,500,000. It has been on the market for a total of 58 days and was last sold on July 10, 2014. This listing's school district is Los Angeles Unified School District. Nearby schools include Carthay Center Elementary, Emerson Community Charter School and Fairfax Senior High School. 1100 South Corning Street is a 14-bed, 14-bath, 9,993 sqft multi-family home built in 2019.

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 Marcus & Millichap, Neema Ahadian, DRE #01346750

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.