132 West 74th Street

Los Angeles, CA 90003

$1,108,000
Last Sold Price
8
Beds
5
Baths
2,290 Sq. Ft.
$484 / Sq. Ft.
2,290
Sq. Ft.
$484
per Sq. Ft.

Description

Price Reduction! Incredible 4-unit Investment or Owner-User opportunity cash flowing at an amazing 6.9% Cap Rate and 10.7 GRM from Day 1! 4 fully renovated units including a large 5-Bed 2-Bath detached house in the front plus 3 non-rent controlled (1 Bed/1 Bath) units in the rear built-in 1983. The front house was entirely stripped to the studs and thoroughly renovated with permits featuring a new roof, electrical system, plumbing, windows, updated kitchen, renovated bathrooms, and more. Additional...Price Reduction! Incredible 4-unit Investment or Owner-User opportunity cash flowing at an amazing 6.9% Cap Rate and 10.7 GRM from Day 1! 4 fully renovated units including a large 5-Bed 2-Bath detached house in the front plus 3 non-rent controlled (1 Bed/1 Bath) units in the rear built-in 1983. The front house was entirely stripped to the studs and thoroughly renovated with permits featuring a new roof, electrical system, plumbing, windows, updated kitchen, renovated bathrooms, and more. Additional upside to 8.2% Cap Rate and 9.3 GRM on proforma. All utilities are individually metered for gas & electricity and preliminary plans for two detached ADUs have been made for the center of the lot. The 7,840 SF lot provides ample parking onsite and the 3 back units, being exempt from LA City Rent Control, can be increased by 10% annually (5% + CPI). Over the past few years, South Los Angeles has experienced consistent expansion due to its reasonable housing prices and convenient location near Downtown LA, Sofi Stadium, USC, Culver City, and South Bay. Rental rates in South LA have surged by almost 25% since 2020. The area's low vacancy rates combined with a landlord-dominant real estate environment and abundant job opportunities nearby indicate that significant long-term growth is on the horizon for South LA.
  1. Listed by Julio Ruiz • DRE #01911261 • Brokerage DRE #01911261 • Global Platinum Properties, Inc.
  2. Listed by Armin Soleimani • DRE #01846872 • Brokerage DRE #01911261 • Global Platinum Properties, Inc.

Property Details for 132 West 74th Street

Zoning
LAR2
Parcel Number
6031007033
Total Units
4.0
Living Area
2290
Source Living Area
Vendor Enhanced
Area
Metropolitan South (C37)
Vacancy Rate
1 unit
Lot Size Area
7936

Location

Listing Courtesy of Global Platinum Properties, Inc., Julio Ruiz, DRE #01911261; Global Platinum Properties, Inc., Armin Soleimani, DRE #01846872

Sold By TLC REALTY AND INVESTMENTS INC, TOM LEO CHAVEZ, DRE #01800562

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LISTING UPDATED: 07/28/2023 03:52 PM

Property Details for 132 West 74th Street

StatusSold
MLS #23-253491
Days on Market93
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1983
Lot Size0.18 AC / 7,936 SF
CountyLos Angeles County

Location

Listing Courtesy of Global Platinum Properties, Inc., Julio Ruiz, DRE #01911261; Global Platinum Properties, Inc., Armin Soleimani, DRE #01846872

Sold By TLC REALTY AND INVESTMENTS INC, TOM LEO CHAVEZ, DRE #01800562

Add your commute

Building Information for 132 West 74th Street

Stories-Residences-Year Built1983Building Size-Lot Size0.18 AC / 7,936 SF

Payment Calculator

$6,613 per month

30 year fixed, 7.25% Interest

Principal and Interest

$6,047

Property Taxes

$566

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 132 West 74th Street

Community / Development
Community / Development
  • Number Of Units: 4
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 0
  • Number Of Buildings: 2
  • Type Of Units: Bungalow
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $107,635
  • Net Operating Income: $82,445.00
  • Gross Income: $110,964
  • Cap Rate: 6.90%
  • Gross Rent Multiplier: $10.70
  • Total Annual Expense: 25190
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1822
  • Lot Size Square Feet: 7936
  • Lot Size Dimensions: 56x140
  • Source Lot Size Dimensions: Vendor Enhanced
Parking Details
Parking Details
  • Parking Garage: Uncovered, Tandem
  • Total Parking: 0
  • Parking Features: Uncovered, Tandem Garage
Interior Features
Interior Features
  • Cooling Type: Ceiling Fan
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Microwave, Ceiling Fan, Refrigerator
  • Interior Features: Ceiling Fan(s)
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 03-22-2023
Unit Details
Unit 1 Information
  • Unit Beds: 5
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $4,374.00
  • Unit Actual Rent: $3,560.00
  • Unit Projected Rent: $4,374.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,096.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $2,096.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,096.00
  • Unit Actual Rent: $1,840.00
  • Unit Projected Rent: $2,096.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,096.00
  • Unit Actual Rent: $1,751.00
  • Unit Projected Rent: $2,096.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $197,563.00
  • Assessed Improvement Percent: 38.52
  • Assessed Land Value: $315,353.00
  • Assessed Land Percent: 61.48
  • Assessed Total Value: $512,916.00

Property History for 132 West 74th 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 132 West 74th Street

Taxable ValueLand$321,660Additions$201,514Total$523,174
Tax Record2023$6,792 ($566 / month)
Home Facts
Total Finished SqFt2,290 SqFtAbove Grade Finished SqFt2,290 SqFtLot Size7,936 SqFtStyleQuadraplexYear Built1983ZoningLAR2CountyLOS ANGELESAPN6031-007-033

Schools near 132 West 74th Street

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Public - 7 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Seventy-Fifth Street Elementary School
PublicK to 6

Mary Mcleod Bethune Middle School
Public7 to 8

John C. Fremont Senior High 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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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 Global Platinum Properties, Inc., Julio Ruiz, DRE #01911261; Global Platinum Properties, Inc., Armin Soleimani, DRE #01846872

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.