115 East 31st Street
115 East 31st Street
$1,295,000
7
3
3,420
3,420
$379
Sold 3/30/22
Description
Fully remodeled and clean three-unit building, with ready to issue permits for a 4th ADU garage conversion. Built in 1984 which means this property does NOT fall under LA's rent stabilization ordinance and you can raise rent 5% a year + CPI, or over a 10% rental increase once COVID restrictions are lifted. Pro Forma 5.8% cap rate after ADU is complete. The front unit is a large (approx 1,200 sq ft) 3 bed/1 bath leased for $2,790. Unit B is a 2 bed/1 bath leased for $1,795, fully remodeled. Unit C...Fully remodeled and clean three-unit building, with ready to issue permits for a 4th ADU garage conversion. Built in 1984 which means this property does NOT fall under LA's rent stabilization ordinance and you can raise rent 5% a year + CPI, or over a 10% rental increase once COVID restrictions are lifted. Pro Forma 5.8% cap rate after ADU is complete. The front unit is a large (approx 1,200 sq ft) 3 bed/1 bath leased for $2,790. Unit B is a 2 bed/1 bath leased for $1,795, fully remodeled. Unit C is a remodeled 2 bed/1 bath currently rented for $1,790. On top of that, permits are ready to convert the garage into a legal studio/4th unit. RTI permits sold with property. All you need to do is pull the permits and start construction! All units remodeled with high-quality floors, appliances, and finishes. There on-site parking for each unit, and laundry inside each unit. Close to DTLA, USC, Fashion District, and lots of new development. This is one is a no-brainer! Owner is motivated, make all offers.
- Listed by Oron Maher • DRE #01299093 • Brokerage DRE #01299093 • Maher Commercial Realty
Property Details for 115 East 31st Street
Zoning
LARD1.5
Parcel Number5128005040
Total Units4.0
Living Area3420
Source Living AreaOther
AreaDowntown L.A. (C42)
Vacancy Rate0
Lot Size Area6283
Location
LISTING UPDATED: 04/01/2022 12:34 PM
Property Details for 115 East 31st Street
Status | Sold |
---|---|
MLS # | 21-100353 |
Days on Market | 61 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1984 |
Lot Size | 0.14 AC / 6,283 SF |
County | Los Angeles County |
Location
Building Information for 115 East 31st Street
Stories-Residences-Year Built1984Building Size-Lot Size0.14 AC / 6,283 SF
Payment Calculator
$8,432 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 115 East 31st Street
Property History for 115 East 31st Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 115 East 31st Street
Taxable ValueLand$816,000Additions$504,900Total$1,320,900
Tax Record2023$16,374 ($1,365 / month)
Home Facts
Total Finished SqFt3,120 SqFtAbove Grade Finished SqFt3,120 SqFtLot Size6,283 SqFtStyleTriplexYear Built1984ZoningLARD1.5CountyLOS ANGELESAPN5128-005-040
Schools near 115 East 31st Street
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 |
---|---|---|
Dolores Huerta Elementary School PublicK to 5 | ||
John Adams Middle School Public6 to 8 | ||
Thomas Jefferson Senior High School Public9 to 12 | ||
Nava College Preparatory Academy 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.
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