1146 Elden Avenue

Los Angeles, CA 90006

$2,880,000
Price
10
Beds
11
Baths
12,306 Sq. Ft.
$234 / Sq. Ft.
12,306
Sq. Ft.
$234
per Sq. Ft.

Description

Highly sought after turnkey investment located just south of Olympic Blvd. This 11-unit apartment building complex, built in 1923 has many value add opportunities. With 65% upside in rental income this is an investors dream. A great unit mix consisting of 6 one-bedroom units, 4 two-bedroom units, and one studio unit. With 2 separate parking structures any savvy investor could add 2-3 ADU units adding even more value to this asset. The utilities are separately mattered for gas and electricity. Located...Highly sought after turnkey investment located just south of Olympic Blvd. This 11-unit apartment building complex, built in 1923 has many value add opportunities. With 65% upside in rental income this is an investors dream. A great unit mix consisting of 6 one-bedroom units, 4 two-bedroom units, and one studio unit. With 2 separate parking structures any savvy investor could add 2-3 ADU units adding even more value to this asset. The utilities are separately mattered for gas and electricity. Located in a highly tenant competitive rental market in Koreatown with a walk score of 91.
  1. Listed by Jacob Kesherim • DRE #01928381 • Brokerage DRE #01425795 • Keller Williams Beverly Hills

Property Details for 1146 Elden Avenue

Water Front
None
Zoning
LAR3
Style
Low Rise
Cross Streets
S Elden Ave & W 12th St
Parcel Number
5076012009
Total Units
11.0
Living Area
12306
Source Living Area
Assessor

Location

Listing Courtesy of Keller Williams Beverly Hills, Jacob Kesherim, DRE #01928381
Add your commute
LISTING UPDATED: 03/20/2024 12:01 AM

Property Details for 1146 Elden Avenue

StatusActive
MLS #24-368016
Days on Market46
Taxes$36,000 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1923
Lot Size0.32 AC / 14,000 SF
CountyLos Angeles County

Location

Listing Courtesy of Keller Williams Beverly Hills, Jacob Kesherim, DRE #01928381
Add your commute

Building Information for 1146 Elden Avenue

Stories2Residences-Year Built1923Building Size-Lot Size0.32 AC / 14,000 SF

Payment Calculator

$18,717 per month

30 year fixed, 7.25% Interest

Principal and Interest

$15,717

Property Taxes

$3,000

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1146 Elden Avenue

Community / Development
Community / Development
  • Tax Mello Roos: Unknown
  • Number Of Units: 11
  • Professional Management: 7736.0
  • Amenities: None
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 2
  • Number Of Buildings: 2
  • Type Of Units: Multi-Family
  • View: Yes
  • View Description: City
  • View: City Lights
  • Entry Floor Number: 1
  • Security Features: Gated
  • Direction Faces: South
  • Property Condition: Repair Cosmetic, Fixer, Updated/Remodeled
  • Water: District, Meter on Property
  • Sewer: On Site, Septic Tank
  • Water Heaters: Yes
  • Water District: LADWP
Contract Info
Contract Info
  • Probate: No
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $15,080
  • Net Operating Income: $89,667.00
  • Gross Income: $500
  • Gross Scheduled Income: $154,722
  • Cap Rate: 3.00%
  • Gross Rent Multiplier: $18.00
  • Actual Annual Gross Rent: $148,728.00
  • Actual Gross Annual Income: $154,722
  • Monthly GrossI Income: $12,894.00
  • Garage Income: $300
  • Laundry Income: $200
  • Actual Rent Total: $12,394.00
  • Financial Info as Of: 03/12/2024
  • Vacancy Allow Dollar: $4,642.00
  • Vacancy Allow Percent: 3.00%
  • Lease Per Month Year: Month
  • Owner Pays: Gardener, Water
  • Total Annual Expense: 60413
  • Electric Expense: $3,450.00
  • Expense Pest: $500.00
  • Tax Expense: $33,819
  • Expense Maintenance Percent: $13.00
  • Gardener Expense: $1,000
  • Expense Licenses: $500.00
  • Insurance Expense: $5,488
  • Expense Operating Percent: $39.00
Land / Lot Info
Land / Lot Info
  • Alternate Street Name: 2375 W 12TH ST., LOS ANGELES, CA 90006
  • Additional Parcel Number: No
  • Alley: Yes
  • Paved: Yes
  • Lot Acreage: 0.3215
  • Lot Size Square Feet: 14000
  • Lot Size Dimensions: 100x140
  • Source Lot Size Dimensions: Assessor
  • Lot Features: Rectangular Lot, Lawn, Landscaped
  • Lot Description: Sidewalks, Single Lot, Street Paved, Lot-Level/Flat, Lot Shape-Rectangular, Lawn, Alley Paved, Street Lighting, Street Concrete, Storm Drains, Landscaped, Curbs, Gutters
  • Lot Location: Alley Access, City, Corner Lot, Flats
Parking Details
Parking Details
  • Parking Garage: On street, Parking Space, Door Opener, Controlled Entrance, Side By Side, Uncovered, Garage Is Detached, Garage - 2 Car, Assigned, Detached, Driveway, Driveway - Concrete, Other, Private, Shared Driveway, Attached
  • Total Parking: 6
  • Open Other Spaces Total: 2
  • Garage Spaces Total: 4
  • Parking Features: Street, Parking Space, Garage Door Opener, Controlled Entrance, Side by Side, Uncovered, Garage - Two Door, Assigned, Driveway, Concrete, Private, Shared Driveway
  • Attached Garage: Yes
  • Garage Structures Total: 2.0
Interior Features
Interior Features
  • Room Type: Entry, Living Room, Primary Bathroom
  • Rooms: Entry, Other, Dining Area, Dining Room, Living Room, Master Bedroom
  • Levels: Two
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Den: No
  • Family Room: 0
  • Dining Room: 1
  • Cooling Type: Other
  • Heating Type: Other
  • Flooring: Mixed
  • Equipment: Other
  • Interior Features: Drywall Walls, Common Walls
  • Bedroom Features: Master Bedroom
  • Common Walls: Attached
  • Cooking Appliances: Free Standing Gas
  • Laundry: Laundry Area, Room
  • Laundry Equipment: Own
  • TV Services: Cable TV
Exterior Features
Exterior Features
  • Pool: No
  • Private Pool: No
  • Pool Description: None
  • Pool Features: None
  • Spa: No
  • Spa: None
  • Tennis Court: None
  • Roof: Flat
  • Entry Location: Main Level
  • Windows: Garden Window, French Windows
  • New Construction: No
  • Construction Materials: Concrete, Frame, Metal Siding, Stone, Stucco, Wood Siding
  • Exterior Construction: Concrete, Frame, Hard Coat, Metal Siding, Stone, Stucco, Wood Siding
  • Other Structures: Other
Lease Terms
Lease Terms
  • Entry Date: 03-18-2024
  • Listing Terms: Standard Sale
  • Rent Control: Yes
  • Rent Control: 100
  • Garage Rental Rate: 300
  • Tenant Pays: Electricity, Gas
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $780.00
  • Unit Actual Rent: $780.00
  • Unit Projected Rent: $1,250.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,120.00
  • Unit Actual Rent: $6,719.00
  • Unit Projected Rent: $1,750.00
  • Like Units: 6
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,224.00
  • Unit Actual Rent: $4,895.00
  • Unit Projected Rent: $2,250.00
  • Like Units: 4
Unit Details
  • Unit Type Type: 2106, 2107, 2108
  • Number of Electric Meters: 11
  • Number of Gas Meters: 11
  • Number Leased: 11
  • Number Refrigerator: 11
  • Number Water Meters: 0
Tax and Assessed Info
Tax and Assessed Info
  • Tax Percent: 1.25%
  • Tax Rate Year: 2024
  • Assessed Improvement Value: $663,000.00
  • Assessed Improvement Percent: 30.23
  • Assessed Land Value: $1,530,000.00
  • Assessed Land Percent: 69.77
  • Assessed Total Value: $2,193,000.00
  • Private Transfer Taxes: No

Property History for 1146 Elden Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Schools near 1146 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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1146 Elden Avenue is a multi-family home for sale in Los Angeles, CA 90006. This property was listed for sale on March 12, 2024 by Keller Williams Beverly Hills, it's currently listed at $2,880,000. 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. 1146 Elden Avenue is a 10-bed, 11-bath, 12,306 sqft multi-family home built in 1923.

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 Keller Williams Beverly Hills, Jacob Kesherim, DRE #01928381

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.