1344 West 98th Street

Los Angeles, CA 90044

$900,000
Price
4
Beds
4
Baths
2,734 Sq. Ft.
$329 / Sq. Ft.
2,734
Sq. Ft.
$329
per Sq. Ft.

Description

1344 West 98th is a four-unit value-add South LA property with approx. 52% upside compared to renovated units in the area. Located just north of Century Blvd. and Normandie Ave, the property is approx. 3.0 miles from The Village at Century, SoFi Stadium, Hollywood Park, and The Forum. 1344 West 98th features (4) 1-bdrm. units, across 3 structures, on a 6,256 SF lot zoned LCC3YY. This value-add opportunity is offered at $225,000 per unit and $329 per foot. At projected market rents, 1344 West 98th...1344 West 98th is a four-unit value-add South LA property with approx. 52% upside compared to renovated units in the area. Located just north of Century Blvd. and Normandie Ave, the property is approx. 3.0 miles from The Village at Century, SoFi Stadium, Hollywood Park, and The Forum. 1344 West 98th features (4) 1-bdrm. units, across 3 structures, on a 6,256 SF lot zoned LCC3YY. This value-add opportunity is offered at $225,000 per unit and $329 per foot. At projected market rents, 1344 West 98th will stabilize at an 8.12% CAP and 9.44 GRM. Additional property amenities include a community laundry room and (4) 1-car garages that can be converted into ADUs (buyer to verify).

Listing Agent

  1. Max Berger

    Max Berger

    Listing Agent

    Compass

    DRE #02054048

    max.berger@compass.com

    P: 818.321.4972

Property Details for 1344 West 98th Street

Zoning
LCC3YY
Cross Streets
Normandie Ave. and West 98th St.
Parcel Number
6056017023
Total Units
4.0
Living Area
2734
Source Living Area
Assessor
Area
Metropolitan Southwest (C36)
Vacancy Rate
0%

Location

Listing Courtesy of Compass, Max Berger, DRE #02054048
Add your commute
LISTING UPDATED: 03/20/2024 12:01 AM

Property Details for 1344 West 98th Street

StatusActive
MLS #24-367725
Days on Market48
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1948
Lot Size0.14 AC / 6,256 SF
CountyLos Angeles County

Location

Listing Courtesy of Compass, Max Berger, DRE #02054048
Add your commute

Building Information for 1344 West 98th Street

Stories2Residences-Year Built1948Building Size-Lot Size0.14 AC / 6,256 SF

Payment Calculator

$5,546 per month

30 year fixed, 7.25% Interest

Principal and Interest

$4,912

Property Taxes

$634

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1344 West 98th Street

Community / Development
Community / Development
  • Number Of Units: 4
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 2
  • Number Of Buildings: 3
  • Type Of Units: Apartments
  • View: No
  • View Description: None
  • View: None
  • Security Features: Gated
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: $61,776
  • Net Operating Income: $40,350.00
  • Gross Income: $63,360
  • Cap Rate: 4.48%
  • Gross Rent Multiplier: $14.20
  • Financial Info as Of: 03/12/2024
  • Vacancy Allow Percent: 2.50%
  • Total Annual Expense: 21426
Land / Lot Info
Land / Lot Info
  • Lot Size Square Feet: 6256
  • Lot Location: Alley Access
Parking Details
Parking Details
  • Parking Garage: Garage - 1 Car
  • Total Parking: 4
  • Garage Spaces Total: 4
  • Parking Features: Garage - Single Door
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Other
  • Heating Type: Other
  • Equipment: Built-Ins, Range/Oven, Freezer, Refrigerator, Other
  • Common Walls: Detached/No Common Walls
  • Laundry: Community
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 03-12-2024
  • Rent Control: Yes
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,310.00
  • Unit Actual Rent: $5,240.00
  • Unit Projected Rent: $8,000.00
  • Like Units: 4
Unit Details
  • Unit Type Type: 2106

Property History for 1344 West 98th 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 1344 West 98th Street

Taxable ValueLand$218,646Additions$260,928Total$479,574
Tax Record2023$7,602 ($634 / month)
Home Facts
Total Finished SqFt2,734 SqFtAbove Grade Finished SqFt2,734 SqFtLot Size6,256 SqFtStyleQuadraplexYear Built1948ZoningLCC3YYCountyLOS ANGELESAPN6056-017-023

Schools near 1344 West 98th 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
Charter - 5 to 8
Rating
School
Distance
Ninety-Fifth Street Elementary School
PublicK to 5

Bret Harte Preparatory Middle School
Public6 to 8

George Washington Preparatory High School
Public9 to 12

Teach Academy Of Technologies
Charter5 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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1344 West 98th Street is a multi-family home for sale in Los Angeles, CA 90044. This property was listed for sale on March 12, 2024 by Compass, it's currently listed at $900,000. It has been on the market for a total of 48 days and was last sold on July 25, 2003. This listing's school district is Los Angeles Unified School District. Nearby schools include Ninety-Fifth Street Elementary School, Bret Harte Preparatory Middle School and George Washington Preparatory High School. 1344 West 98th Street is a 4-bed, 4-bath, 2,734 sqft multi-family home built in 1948.

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, Max Berger, DRE #02054048

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.