1406 Albany Street

Los Angeles, CA 90015

$999,999
Last Sold Price
8
Beds
4
Baths
4,044 Sq. Ft.
$247 / Sq. Ft.
4,044
Sq. Ft.
$247
per Sq. Ft.

Description

Excellent value-add investment in opportunity zone! This spacious Craftsman-style 4-plex with great curb appeal consists of 4 large 1 bedroom and 1 bathroom units that are currently being used as 2 bedrooms. Each unit is about 1,000sf. Two units will be delivered VACANT. Fantastic location near Convention Center, LA Live, Staples Center and Downtown LA. It provides huge upside potential in rents and low maintenance. The units are separately metered for gas and electricity. Each unit has its own water...Excellent value-add investment in opportunity zone! This spacious Craftsman-style 4-plex with great curb appeal consists of 4 large 1 bedroom and 1 bathroom units that are currently being used as 2 bedrooms. Each unit is about 1,000sf. Two units will be delivered VACANT. Fantastic location near Convention Center, LA Live, Staples Center and Downtown LA. It provides huge upside potential in rents and low maintenance. The units are separately metered for gas and electricity. Each unit has its own water heater. There are detached 5 one-car garages in the back of the property. Additional income $300/month for 2 garages. The property is based in Opportunity Zone providing numerous tax benefits. It is located in fast growing neighborhood near Downtown LA Live Hub, USC, public transportation, metro lines, schools, libraries, hospitals, shopping & entertainment. Easy freeway access. Drive by only, offers subject to interior inspection. Please DO NOT disturb tenants.
  1. Listed by Gabriela Manakova • DRE #01327946 • Brokerage DRE #01327946 • Innovative Property Strategies

Property Details for 1406 Albany Street

Zoning
LAR3
Style
Craftsman
Parcel Number
5135030002
Total Units
4.0
Living Area
4044
Source Living Area
Vendor Enhanced
Area
Downtown L.A. (C42)
Vacancy Rate
50%

Location

Listing Courtesy of Innovative Property Strategies, Gabriela Manakova, DRE #01327946

Sold By eXp Realty of California Inc, Connie Kim, DRE #01354494

Add your commute
LISTING UPDATED: 07/14/2021 08:13 AM

Property Details for 1406 Albany Street

StatusSold
MLS #20-613898
Days on Market302
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1917
Lot Size0.14 AC / 6,002 SF
CountyLos Angeles County

Location

Listing Courtesy of Innovative Property Strategies, Gabriela Manakova, DRE #01327946

Sold By eXp Realty of California Inc, Connie Kim, DRE #01354494

Add your commute

Virtual Tour

Building Information for 1406 Albany Street

Stories2Residences-Year Built1917Building Size-Lot Size0.14 AC / 6,002 SF

Payment Calculator

$6,528 per month

30 year fixed, 7.25% Interest

Principal and Interest

$5,457

Property Taxes

$1,071

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1406 Albany Street

Community / Development
Community / Development
  • Number Of Units: 4
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Residential
  • View: Yes
  • View Description: Other
Contract Info
Contract Info
  • Probate: No
  • Financing: Cash, Cash To New Loan
  • Disclosures: As Is
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $79,884
  • Net Operating Income: $59,796.00
  • Gross Income: $79,884
  • Cap Rate: 5.50%
  • Gross Rent Multiplier: $13.50
  • Total Annual Expense: 20087
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1378
  • Lot Size Square Feet: 6002
Parking Details
Parking Details
  • Parking Garage: Private Garage, Garage Is Detached, Garage - 4+ Car
  • Total Parking: 6
  • Covered Parking: 5
  • Open Other Spaces Total: 1
  • Garage Spaces Total: 5
  • Parking Features: Private
Interior Features
Interior Features
  • Cooling Type: Other
  • Heating Type: Other
Exterior Features
Exterior Features
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 08-04-2020
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $1,950.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $867.00
  • Unit Actual Rent: $10,404.00
  • Unit Projected Rent: $2,050.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,490.00
  • Unit Actual Rent: $17,880.00
  • Unit Projected Rent: $1,700.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $2,050.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $84,525.00
  • Assessed Improvement Percent: 27.54
  • Assessed Land Value: $222,440.00
  • Assessed Land Percent: 72.46
  • Assessed Total Value: $306,965.00

Property History for 1406 Albany 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 1406 Albany Street

Taxable ValueLand$688,500Additions$331,500Total$1,020,000
Tax Record2023$12,849 ($1,071 / month)
Home Facts
Total Finished SqFt4,044 SqFtAbove Grade Finished SqFt4,044 SqFtLot Size6,002 SqFtStyleQuadraplexYear Built1917ZoningLAR3CountyLOS ANGELESAPN5135-030-002

Schools near 1406 Albany 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
Magnolia Avenue Elementary School
PublicK to 5

John H. Liechty Middle School
Public6 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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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 Innovative Property Strategies, Gabriela Manakova, DRE #01327946

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.