1144 Elden Avenue

Los Angeles, CA 90006

$3,000,000
Price
18
Beds
15
Baths
9,758 Sq. Ft.
$307 / Sq. Ft.
9,758
Sq. Ft.
$307
per Sq. Ft.

Description

We are pleased to present 1144 Elden, a 12-unit property not subject to LA City rent control. Built in 1986, this property currently allows an annual rent increase of 8.8% (5% plus the Consumer Price Index). Please note, the property is located in an opportunity zone, offering the new owner a potential federal capital gains tax incentive (buyer to verify). Comprised of (6) 2-bdrm. and 1.5-bath units and (6) 1-bdrm. units, these units offer approx. 34% rental upside compared to renovated units in...We are pleased to present 1144 Elden, a 12-unit property not subject to LA City rent control. Built in 1986, this property currently allows an annual rent increase of 8.8% (5% plus the Consumer Price Index). Please note, the property is located in an opportunity zone, offering the new owner a potential federal capital gains tax incentive (buyer to verify). Comprised of (6) 2-bdrm. and 1.5-bath units and (6) 1-bdrm. units, these units offer approx. 34% rental upside compared to renovated units in the area. Property amenities include on-grade gated parking and a laundry room. 1144 Elden is offered at $307 per foot, $250,000 per unit, 9.42 market GRM, and 7.19% market CAP. Located just south of Koreatown, near Olympic and Vermont, the property is surrounded by many multifamily and mixed-use projects currently under construction or recently completed. Across the street from the subject property is a Grubb Properties project spanning a city block, featuring 228 units and 50,000 SF of commercial space (ground floor leased by Target).

Listing Agents

  1. Kenny Stevens Team

    Kenny Stevens Team

    Listing Agent

    Compass

    DRE #01090251

  2. Kenny Stevens

    Kenny Stevens

    Listing Agent

    Compass

    DRE #01090251

Property Details for 1144 Elden Avenue

Zoning
LAR3
Cross Streets
West 11th St. and Elden Ave.
Parcel Number
5076012008
Total Units
12.0
Living Area
9758
Source Living Area
Vendor Enhanced
Area
Mid-Wilshire (C17)
Vacancy Rate
0 Units

Location

Listing Courtesy of Compass, Kenny Stevens Team, DRE #01090251; Compass, Kenny Stevens, DRE #01090251; Christie's AKG, Matthew Hoult, DRE #02112916
Add your commute
LISTING UPDATED: 12/22/2023 03:47 PM

Property Details for 1144 Elden Avenue

StatusActive
MLS #23-293115
Days on Market327
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1986
Lot Size0.16 AC / 7,000 SF
CountyLos Angeles County

Location

Listing Courtesy of Compass, Kenny Stevens Team, DRE #01090251; Compass, Kenny Stevens, DRE #01090251; Christie's AKG, Matthew Hoult, DRE #02112916
Add your commute

Virtual Tour

Building Information for 1144 Elden Avenue

Stories3Residences-Year Built1986Building Size-Lot Size0.16 AC / 7,000 SF

Payment Calculator

$17,551 per month

30 year fixed, 7.25% Interest

Principal and Interest

$16,372

Property Taxes

$1,179

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1144 Elden Avenue

Community / Development
Community / Development
  • Number Of Units: 12
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 3
  • Number Of Buildings: 1
  • Type Of Units: Apartments
  • View: No
  • View Description: None
  • View: None
  • Security Features: Gated
  • Direction Faces: West
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $231,702
  • Net Operating Income: $136,796.00
  • Gross Income: $237,643
  • Cap Rate: 4.56%
  • Gross Rent Multiplier: $12.62
  • Financial Info as Of: 07/21/2023
  • Total Annual Expense: 99746
Land / Lot Info
Land / Lot Info
  • Alley: Yes
  • Lot Acreage: 0.1607
  • Lot Size Square Feet: 7000
  • Lot Location: Alley Access
Parking Details
Parking Details
  • Parking Garage: Gated, Garage
  • Total Parking: 14
  • Parking Features: Gated, Garage
Interior Features
Interior Features
  • Levels: Two
  • Cooling: Central Air
  • Cooling Type: Central
  • Heating: Central
  • Heating Type: Central
  • Equipment: Built-Ins, Freezer, Refrigerator, Range/Oven
  • Common Walls: Attached
  • Laundry: Garage, Community
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structural Features: Balcony
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 07-21-2023
  • Rent Control: No
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $1,800.00
  • Unit Actual Rent: $10,805.00
  • Unit Projected Rent: $14,400.00
  • Like Units: 6
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,474.00
  • Unit Actual Rent: $8,849.00
  • Unit Projected Rent: $12,000.00
  • Like Units: 6
Unit Details
  • Unit Type Type: 2106, 2107

Property History for 1144 Elden 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 1144 Elden Avenue

Taxable ValueLand$35,552Additions$1,024,131Total$1,059,683
Tax Record2023$14,151 ($1,179 / month)
Home Facts
Total Finished SqFt9,758 SqFtAbove Grade Finished SqFt9,758 SqFtLot Size7,000 SqFtStyleMulti-Family Res (5+ Units)Year Built1986ZoningLAR4CountyLOS ANGELESAPN5076-012-008

Schools near 1144 Elden Avenue

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

Berendo Middle School
Public6 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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1144 Elden Avenue is a multi-family home for sale in Los Angeles, CA 90006. This property was listed for sale on July 21, 2023 by Compass, it's currently listed at $3,000,000. This listing's school district is Los Angeles Unified School District. Nearby schools include Leo Politi Elementary School, Berendo Middle School and Contreras Learning Center-School Of Social Justice. 1144 Elden Avenue is a 18-bed, 15-bath, 9,758 sqft multi-family home built in 1986.

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 Compass, Kenny Stevens Team, DRE #01090251; Compass, Kenny Stevens, DRE #01090251; Christie's AKG, Matthew Hoult, DRE #02112916

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.