1163 West 38th Street

Los Angeles, CA 90007

$1,499,000
Price
5
Beds
5
Baths
1,715 Sq. Ft.
$874 / Sq. Ft.
1,715
Sq. Ft.
$874
per Sq. Ft.

Description

Price Reduced. Motivated Seller. We are pleased to present 1163 W. 38th Street, a vacant, three unit well-maintained and pride-of-ownership value-add multifamily building with a fully permitted ADU, in the fast-growing South LA submarket of Los Angeles. The subject building consists of 1 x 3 bed/3 bath unit, 1 x 2 bed/1 bath unit and a fully permitted ADU studio unit. All of the units are delivered furnished and were remodeled and painted in 2023 and include new flooring, kitchens and appliances....Price Reduced. Motivated Seller. We are pleased to present 1163 W. 38th Street, a vacant, three unit well-maintained and pride-of-ownership value-add multifamily building with a fully permitted ADU, in the fast-growing South LA submarket of Los Angeles. The subject building consists of 1 x 3 bed/3 bath unit, 1 x 2 bed/1 bath unit and a fully permitted ADU studio unit. All of the units are delivered furnished and were remodeled and painted in 2023 and include new flooring, kitchens and appliances. Unit One offers separate entrances creating flexible renting options including renting as 1 bed/1 bath units. The property sits near the corner of W. 38th Street and S. Budlong Avenue on a large 6,209 square foot parcel zoned LAR4. The tenants benefit from a long, gated driveway, nicely landscaped front yard and covered patio between the two detached units. This building has been well-maintained and has good bones. Excellent location in the heart of the South Figueroa Corridor just two blocks west of Exposition Park which includes BMO Stadium, the LA Memorial Coliseum, the California Science Center and the Natural History Museum of Los Angeles County. Enjoy Airbnb income! The University of Southern California is a half mile northeast of the property. Easy access to the 110 Freeway at W. Martin Luther King Jr. Blvd. brings you to downtown Los Angeles and beyond.
  1. Listed by Oron Maher • DRE #01299093 • Brokerage DRE #01299093 • Maher Commercial Realty
  2. Listed by Camilla Lim • DRE #02203866 • Brokerage DRE #01299093 • Maher Commercial Realty

Property Details for 1163 West 38th Street

Zoning
LAR4
Cross Streets
W. 38th Street and S. Budlong Ave.
Parcel Number
5037014015
Total Units
3.0
Living Area
1715
Source Living Area
Vendor Enhanced
Area
Los Angeles Southwest (C34)
Vacancy Rate
100

Location

Listing Courtesy of Maher Commercial Realty, Oron Maher, DRE #01299093; Maher Commercial Realty, Camilla Lim, DRE #02203866
Add your commute
LISTING UPDATED: 04/11/2024 01:28 PM

Property Details for 1163 West 38th Street

StatusActive
MLS #24-349681
Days on Market105
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1922
Lot Size0.14 AC / 6,209 SF
CountyLos Angeles County

Location

Listing Courtesy of Maher Commercial Realty, Oron Maher, DRE #01299093; Maher Commercial Realty, Camilla Lim, DRE #02203866
Add your commute

Building Information for 1163 West 38th Street

Stories1Residences-Year Built1922Building Size-Lot Size0.14 AC / 6,209 SF

Payment Calculator

$9,021 per month

30 year fixed, 7.25% Interest

Principal and Interest

$8,181

Property Taxes

$840

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1163 West 38th Street

Community / Development
Community / Development
  • Number Of Units: 3
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 1
  • Number Of Buildings: 3
  • Type Of Units: Varies
  • Security Features: Gated
  • Property Condition: Updated/Remodeled
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $120,600
  • Net Operating Income: $103,580.00
  • Gross Income: $120,600
  • Cap Rate: 6.90%
  • Gross Rent Multiplier: $12.85
  • Total Annual Expense: 17020
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1426
  • Lot Size Square Feet: 6209
  • Lot Features: Back Yard, Front Yard
  • Lot Description: Back Yard, Fenced, Front Yard, Sidewalks
Parking Details
Parking Details
  • Parking Garage: Driveway, Driveway Gate
  • Total Parking: 0
  • Parking Features: Driveway
Interior Features
Interior Features
  • Levels: One
  • Cooling Type: Other
  • Heating Type: Other
  • Equipment: Range/Oven, Refrigerator, Microwave
  • Interior Features: Furnished
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: Accessory Bldgs
Lease Terms
Lease Terms
  • Entry Date: 01-19-2024
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: Yes
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $1,800.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: Yes
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $2,200.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: Yes
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $1,800.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: Yes
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $2,750.00
  • Like Units: 1
Unit 5 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: Yes
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $1,500.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $270,504.00
  • Assessed Improvement Percent: 33.33
  • Assessed Land Value: $541,008.00
  • Assessed Land Percent: 66.67
  • Assessed Total Value: $811,512.00

Property History for 1163 West 38th 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 1163 West 38th Street

Taxable ValueLand$541,008Additions$270,504Total$811,512
Tax Record2023$10,075 ($840 / month)
Home Facts
Total Finished SqFt1,715 SqFtAbove Grade Finished SqFt1,715 SqFtLot Size6,209 SqFtStyleDuplexYear Built1922ZoningLAR4CountyLOS ANGELESAPN5037-014-015

Schools near 1163 West 38th Street

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - K to 12
Public - 9 to 12
Charter - 9 to 12
Rating
School
Distance
Lenicia B. Weemes Elementary School
PublicK to 5

Foshay Learning Center
PublicK to 12

Manual Arts Senior High School
Public9 to 12

USC Hybrid High College Prep
Charter9 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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1163 West 38th Street is a multi-family home for sale in Los Angeles, CA 90007. This property was listed for sale on January 19, 2024 by Maher Commercial Realty, it's currently listed at $1,499,000. It has been on the market for a total of 105 days and was last sold on September 20, 2018. This listing's school district is Los Angeles Unified School District. Nearby schools include Lenicia B. Weemes Elementary School, Foshay Learning Center and Manual Arts Senior High School. 1163 West 38th Street is a 5-bed, 5-bath, 1,715 sqft multi-family home built in 1922.

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 Maher Commercial Realty, Oron Maher, DRE #01299093; Maher Commercial Realty, Camilla Lim, DRE #02203866

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.