1406 Pleasant Avenue

Los Angeles, CA 90033

$3,495,000
Price
Beds
6,447 Sq. Ft.
$542 / Sq. Ft.
6,447
Sq. Ft.
$542
per Sq. Ft.

Description

One of the coolest properties to hit the market in 2023! Looking for something unique, creative that is part of LA History with future development upside? Compass Commercial is pleased to present 1406, 1418 and 1424 E Pleasant Ave a 34,842 SF LAR3-TOC3 zoned development opportunity with an interim income use. 1406 E. Pleasant Ave. (APN #021) was built in 1927 as an ice creamy manufactory plant and in 1948 became home to the Carnation Ice Company. Today about 5,600 SF of the original structure exists...One of the coolest properties to hit the market in 2023! Looking for something unique, creative that is part of LA History with future development upside? Compass Commercial is pleased to present 1406, 1418 and 1424 E Pleasant Ave a 34,842 SF LAR3-TOC3 zoned development opportunity with an interim income use. 1406 E. Pleasant Ave. (APN #021) was built in 1927 as an ice creamy manufactory plant and in 1948 became home to the Carnation Ice Company. Today about 5,600 SF of the original structure exists and consists of three (3) studio work lofts along with an indoor and outdoor gallery space, which will be delivered vacant. Including the large parking area this parcel is about 23,376 SF. Adjacent to the south is 1418 E. Pleasant Ave. (APN #020), a single-family residence built in 1885. Known as, Mount Pleasant Bakery, this potentially historic resource property is tenant occupied, the parcel is approximately 6,233 SF. Further to the south is 1424 E. Pleasant Ave (APN #021), a 6,233 SF vacant land parcel. All three parcels to be sold together (APN's 5174-021-020, 021 & 022). The total site could potentially develop about 75 dwelling units utilizing the TOC 3 bonus density. Buyer is advised to perform their own investigation and to verify building size, property size, building configuration, development potential, permitted use, historic relevance, and that all building systems are up to code.

Listing Agent

  1. Tim Byrne

    Tim Byrne

    Listing Agent

    Compass

    DRE #01186465

    tim.byrne@compass.com

    P: 310.801.3442

Property Details for 1406 Pleasant Avenue

Zoning
LAR3
Parcel Number
5174021021
Total Units
3.0
Living Area
6447
Source Living Area
Other
Area
Boyle Heights (BOYH)
Vacancy Rate
3.0
Lot Size Area
34842

Location

Listing Courtesy of Compass, Tim Byrne, DRE #01186465
Add your commute
LISTING UPDATED: 11/02/2023 05:32 AM

Property Details for 1406 Pleasant Avenue

StatusActive
MLS #23-243457
Days on Market287
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1927
Lot Size0.80 AC / 34,842 SF
CountyLos Angeles County

Location

Listing Courtesy of Compass, Tim Byrne, DRE #01186465
Add your commute

Virtual Tour

Building Information for 1406 Pleasant Avenue

Stories2Residences-Year Built1927Building Size-Lot Size0.80 AC / 34,842 SF

Payment Calculator

$22,827 per month

30 year fixed, 7.25% Interest

Principal and Interest

$19,074

Property Taxes

$3,753

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1406 Pleasant Avenue

Community / Development
Community / Development
  • Number Of Units: 3
  • Amenities: None
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 3
  • Type Of Units: Workspace
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Open
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $289,202
  • Net Operating Income: $199,112.00
  • Gross Income: $230,364
  • Cap Rate: 5.00%
  • Gross Rent Multiplier: $17.25
  • Total Annual Expense: 81414
Land / Lot Info
Land / Lot Info
  • Additional Parcel Number: Yes
  • Lot Acreage: 0.5291
  • Lot Size Square Feet: 34842
Parking Details
Parking Details
  • Parking Garage: Private
  • Total Parking: 0
  • Parking Features: Private
Interior Features
Interior Features
  • Levels: Multi/Split
  • Cooling: None
  • Cooling Type: None
  • Heating: None
  • Heating Type: None
  • Equipment: None
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: Other
Lease Terms
Lease Terms
  • Entry Date: 02-23-2023
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 0
  • Unit Furnished: No
  • Unit Rent: $3,200.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $3,200.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 0
  • Unit Baths: 0
  • Unit Furnished: No
  • Unit Rent: $3,500.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $3,500.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 0
  • Unit Baths: 0
  • Unit Furnished: No
  • Unit Rent: $3,500.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $3,500.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 0
  • Unit Baths: 0
  • Unit Furnished: No
  • Unit Rent: $10,900.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $10,900.00
  • Like Units: 1
Unit 5 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $3,025.00
  • Unit Actual Rent: $3,025.00
  • Unit Projected Rent: $.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110

Property History for 1406 Pleasant Avenue

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 Pleasant Avenue

Taxable ValueLand$2,675,248Additions$925,035Total$3,600,283
Tax Record2023$45,038 ($3,753 / month)
Home Facts
Total Finished SqFt6,599 SqFtAbove Grade Finished SqFt6,599 SqFtStories1Lot Size23,050 SqFtStyleLumberYear Built1927ZoningLAR3CountyLOS ANGELESAPN5174-021-021

Schools near 1406 Pleasant Avenue

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
Bridge Street Elementary School
PublicK to 5

Hollenbeck Middle School
Public6 to 8

Theodore Roosevelt Senior High
Public9 to 12

Felicitas And Gonzalo Mendez High
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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1406 Pleasant Avenue is a multi-family home for sale in Los Angeles, CA 90033. This property was listed for sale on February 20, 2023 by Compass, it's currently listed at $3,495,000. This listing's school district is Los Angeles Unified School District. Nearby schools include Bridge Street Elementary School, Hollenbeck Middle School and Theodore Roosevelt Senior High. 1406 Pleasant Avenue is a 0-bed, 0-bath, 6,447 sqft multi-family home built in 1927.

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, Tim Byrne, DRE #01186465

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.