136 West 48th Street

Los Angeles, CA 90037

$1,680,000
Price
3
Beds
9
Baths
4,150 Sq. Ft.
$405 / Sq. Ft.
4,150
Sq. Ft.
$405
per Sq. Ft.

Description

NEW CONSTRUCTION COMPLETED in 2024, NON RENT CONTROL, ±5.50% CAP Rate! ALL UNITS VACANT, Numbers are Proforma! 136 W 48th Street, a newly built luxury townhome-style apartment for sale. The property was completed in 2024 which made this asset exempt from Los Angeles RSO (rent control) and exempt from California AB1482 (rent control). The property was built with high-end finishes with future sustainability and ease of maintenance in mind: solar panels, artificial turf to reduce water consumption....NEW CONSTRUCTION COMPLETED in 2024, NON RENT CONTROL, ±5.50% CAP Rate! ALL UNITS VACANT, Numbers are Proforma! 136 W 48th Street, a newly built luxury townhome-style apartment for sale. The property was completed in 2024 which made this asset exempt from Los Angeles RSO (rent control) and exempt from California AB1482 (rent control). The property was built with high-end finishes with future sustainability and ease of maintenance in mind: solar panels, artificial turf to reduce water consumption. It has a total of ±4,150 SF and is situated on a ±4,752 SF Lot. It offers superb curb appeal with modern finishings and townhouse style layout. These features would present an almost maintenance free asset for the next several years and minimum cost to operate on a NON-Rent Control building. All units have three levels with beautiful amenities, in-unit Washer-Dryer hookups, and a penthouse style master bedroom. The building consists of (3) 3 Bedrooms + 2.5 Bathrooms Units that are NOT UNDER Los Angeles Rent Stabilization Ordinance. Due to its recent construction, the three units are almost maintenance-free, considering the new roofs, plumbing, electrical, sewer lines, and amenities included. The property offers a large backyard with ample parking, including a 2-car garage. Buyers must do their due diligence regarding converting the garage into an ADU. Combining the strong CAP Rate of north of 5%, Non-Los Angeles Rent Stabilization Ordinance, and ease of maintenance, this offering is perfect for an experienced investor looking for solid & consistent cash flow with little to no maintenance. This property is in a high-density and in-demand area, providing rental growth for future vacancies. It is centrally located in a highly desirable location just minutes away from the home of LAFC, our city’s premier professional soccer team, USC, Crypto Arena, Home of the Lakers, Clippers, and LA Kings.) Expo Park and the Metro Green Line.
  1. Listed by Han Chen • DRE #01749321 • Brokerage DRE #02201380 • Growth Investment Group Pasade • 626-224-2495
  2. Listed by Marc Schwartz • DRE #01515007 • Brokerage DRE #02021933 • GIG Real Estate Inc.

Property Details for 136 West 48th Street

Architectural Style
Contemporary
View
City Lights
Parking Spaces Total
6
Private Pool
No
Cooling Type
Central Forced Air
Total Units
3.0
Building Type
Attached
Lot Size Source
Assessor

Location

Listing Courtesy of Growth Investment Group Pasade, Han Chen, DRE #01749321; GIG Real Estate Inc., Marc Schwartz, DRE #01515007
Add your commute
LISTING UPDATED: 04/16/2024 08:25 AM

Property Details for 136 West 48th Street

StatusActive
MLS #AR24061303
Days on Market37
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built2024
Lot Size0.11 AC / 4,752 SF
CountyLos Angeles County

Location

Listing Courtesy of Growth Investment Group Pasade, Han Chen, DRE #01749321; GIG Real Estate Inc., Marc Schwartz, DRE #01515007
Add your commute

Building Information for 136 West 48th Street

Stories3Residences-Year Built2024Building Size-Lot Size0.11 AC / 4,752 SF

Payment Calculator

$9,901 per month

30 year fixed, 7.25% Interest

Principal and Interest

$9,168

Property Taxes

$733

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 136 West 48th Street

Rental Info
Rental Info
  • Tenant Pays: Electricity, Gas
Income / Expense / Tax Details
Income Details
  • Gross Income: $129,600
  • Gross Scheduled Income: $129,600
  • Vacancy Allowance Rate: 3
  • Gross Operating Income: $125,712
  • Net Operating Income: $92,402
  • Gross Multiplier: 12.96
  • Cap Rate: 5.5
Expense Details
  • Operating Expense: $33,310
  • Operating Expense Percent: 26.00%
  • New Taxes Expense: $20,150
  • Insurance Expense: $2,698
  • Trash Expense: $3,000
  • Water Sewer Expense: $3,600
  • Total Expenses: $33,310
Tax / Assessment Info
  • Tax Tract Number: 0
  • Tax Census Tract: 2319.01
  • CFD/Mello-Roos Fee: $262
  • Tax Lot: 47
Community / Development
Community / Development
  • Community Features: Urban
Property / Structure Info
Interior Features
  • Appliances: Gas Range
  • Equipment: Dryer, Dryer Included, Gas Dryer Hookup, Washer, Washer Hookup, Washer Included
  • Interior Features: Balcony
  • Room Type: All Bedrooms Up
  • Bedroom Features: All Bedrooms Up
  • Laundry: Yes
  • Laundry Features: Dryer Included, Gas Dryer Hookup, Washer Hookup, Washer Included
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling: Central Air
  • Heating Type: Central
  • Heating: Central
  • Flooring: Laminate, Vinyl
Exterior Features
  • Roof: Flat
  • Entry Location: 1
  • Fence: Yes
  • Fence: Wrought Iron
  • Fencing: Wrought Iron
  • View Description: City Lights
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Spa Features: None
Land/Lot Info
  • Lot Features: Level with Street, Rectangular Lot, Level, Near Public Transit
  • Direction Faces: North
  • Number Of Units: 3
  • Land Lease: No
  • Land Lease Type: Fee
  • Topography: Level
  • Levels: Three Or More
  • Water: Public
  • Sewer: Public Sewer
  • Utilities: Cable Connected, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
  • Electric: Standard
  • Water Source: Public
Parking Info
  • Garage Spaces: 2
  • Parking: Yes
  • Parking Garage: Assigned, Auto Driveway Gate, Garage
  • Uncovered Spaces: 4
  • Open Other Spaces Total: 4
  • Parking Garage Spaces: 2
  • Carport Spaces: 0
  • Parking Features: Assigned, Auto Driveway Gate, Garage
Unit Information
Unit 1
  • Unit Type Units Total: 3
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 3
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 6
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $3,500
  • Unit Type Total Rent: $10,500
  • Unit Type Pro Forma: 12000
  • Unit Type Type: 1
Unit Information
  • Number Of Units Leased: 0
  • Rent Controlled: No
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 3
  • Number Of Separate Gas Meters: 3
  • Number Of Separate Water Meters: 1
  • Number With Dishwasher: 3
  • Number With Range: 3
  • Number With Refrigerator: 3
  • Number With Disposal: 3
  • Number With Patio: 0

Property History for 136 West 48th 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 136 West 48th Street

Taxable ValueLand$353,736Additions$117,565Total$471,301
Tax Record2023$8,794 ($733 / month)
Home Facts
Beds3Total Finished SqFt1,208 SqFtAbove Grade Finished SqFt1,208 SqFtLot Size4,752 SqFtStyleSingle Family ResidenceYear Built1907ZoningLAR2CountyLOS ANGELESAPN5110-018-024

Schools near 136 West 48th 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
West Vernon Avenue Elementary School
PublicK to 5

William Jefferson Clinton 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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136 West 48th Street is a multi-family home for sale in Los Angeles, CA 90037. This property was listed for sale on March 28, 2024 by Growth Investment Group Pasade, it's currently listed at $1,680,000. It has been on the market for a total of 37 days and was last sold on March 18, 2021. This listing's school district is Los Angeles Unified School District. Nearby schools include West Vernon Avenue Elementary School, William Jefferson Clinton Middle School and Thomas Jefferson Senior High School. 136 West 48th Street is a 3-bed, 9-bath, 4,150 sqft multi-family home built in 2024.

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 Growth Investment Group Pasade, Han Chen, DRE #01749321; GIG Real Estate Inc., Marc Schwartz, DRE #01515007

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.