1120 Logan Street

Los Angeles, CA 90026

$1,995,000
Price
10
Beds
10
Baths
4,912 Sq. Ft.
$406 / Sq. Ft.
4,912
Sq. Ft.
$406
per Sq. Ft.

Description

With current rents averaging approximately $1.79 per square foot, a new owner can nearly double the property's income by matching the area's market rents that have surpassed $3.50 per square foot. One-quarter of the units have already been substantially upgraded, providing a blueprint for a new investor to follow and recapture the rent upside. Renovated units feature new wood flooring, quartz countertops, new custom cabinets, stainless steel appliances, tile backsplashes, new lighting, and remodeled...With current rents averaging approximately $1.79 per square foot, a new owner can nearly double the property's income by matching the area's market rents that have surpassed $3.50 per square foot. One-quarter of the units have already been substantially upgraded, providing a blueprint for a new investor to follow and recapture the rent upside. Renovated units feature new wood flooring, quartz countertops, new custom cabinets, stainless steel appliances, tile backsplashes, new lighting, and remodeled bathrooms. Built in 1962, the property is nestled between Echo Park Lake and Sunset Boulevard, sitting just one block from both one of Los Angeles' most popular parks and one of the city's trendiest streets. As the neighborhood has gentrified in recent years, new shops and restaurants have emerged along both Sunset Boulevard and Glendale Boulevard, providing numerous destinations within blocks of the property. The building has therefore received a Walk Score of 93, with the immediate area considered a "Walker's Paradise."
  1. Listed by Roderick 'Rick' Raymundo • DRE #01357019 • Brokerage DRE #01240999 • Marcus & Millichap

Property Details for 1120 Logan Street

Zoning
LAR3
Parcel Number
5404018022
Total Units
8.0
Living Area
4912
Source Living Area
Vendor Enhanced
Area
Silver Lake (671)
Vacancy Rate
0
Lot Size Area
6269

Location

Listing Courtesy of Marcus & Millichap, Roderick 'Rick' Raymundo, DRE #01357019
Add your commute
LISTING UPDATED: 12/08/2023 09:40 PM

Property Details for 1120 Logan Street

StatusActive
MLS #23-268384
Days on Market358
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1962
Lot Size0.14 AC / 6,269 SF
CountyLos Angeles County

Location

Listing Courtesy of Marcus & Millichap, Roderick 'Rick' Raymundo, DRE #01357019
Add your commute

Building Information for 1120 Logan Street

Stories2Residences-Year Built1962Building Size-Lot Size0.14 AC / 6,269 SF

Payment Calculator

$13,022 per month

30 year fixed, 7.25% Interest

Principal and Interest

$10,888

Property Taxes

$2,134

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1120 Logan Street

Community / Development
Community / Development
  • 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: Residential
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $104,245
  • Net Operating Income: $52,176.00
  • Gross Income: $107,424
  • Cap Rate: 2.62%
  • Gross Rent Multiplier: $18.57
  • Total Annual Expense: 52069
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1439
  • Lot Size Square Feet: 6269
Parking Details
Parking Details
  • Parking Garage: Assigned
  • Total Parking: 8
  • Parking Features: Assigned
Interior Features
Interior Features
  • Levels: Multi/Split
  • Cooling Type: Attic Fan
  • Heating Type: Other
  • Equipment: Ceiling Fan
  • Interior Features: Ceiling Fan(s)
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 05-10-2023
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,243.00
  • Unit Actual Rent: $7,459.00
  • Unit Projected Rent: $13,170.00
  • Like Units: 6
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $686.00
  • Unit Actual Rent: $1,372.00
  • Unit Projected Rent: $5,390.00
  • Like Units: 2
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $956,572.00
  • Assessed Improvement Percent: 47.64
  • Assessed Land Value: $1,051,178.00
  • Assessed Land Percent: 52.36
  • Assessed Total Value: $2,007,750.00

Property History for 1120 Logan 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 1120 Logan Street

Taxable ValueLand$1,072,201Additions$976,023Total$2,048,224
Tax Record2023$25,610 ($2,134 / month)
Home Facts
Total Finished SqFt4,912 SqFtAbove Grade Finished SqFt4,912 SqFtLot Size6,269 SqFtStyleMulti-Family Res (5+ Units)Year Built1962ZoningLAR3CountyLOS ANGELESAPN5404-018-022

Schools near 1120 Logan Street

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 8
Public - 9 to 12
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Logan Academy of Global Ecology
PublicK to 8

Edward R. Roybal Learning Center
Public9 to 12

Miguel Contreras Learning Complex 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.

Similar Homes

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1120 Logan Street is a multi-family home for sale in Los Angeles, CA 90026. This property was listed for sale on May 10, 2023 by Marcus & Millichap, it's currently listed at $1,995,000. It has been on the market for a total of 358 days and was last sold on February 12, 2019. This listing's school district is Los Angeles Unified School District. Nearby schools include Logan Academy of Global Ecology, Edward R. Roybal Learning Center and Miguel Contreras Learning Complex School. 1120 Logan Street is a 10-bed, 10-bath, 4,912 sqft multi-family home built in 1962.

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, Roderick 'Rick' Raymundo, DRE #01357019

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.