1409 West 55th Street

Los Angeles, CA 90062

$2,200,000
Last Sold Price
11
Beds
10
Baths
4,896 Sq. Ft.
$449 / Sq. Ft.
4,896
Sq. Ft.
$449
per Sq. Ft.

Description

Incredibly low expenses. High CAP rate. Completely rebuilt! Certificate Of Occupancy issued February 2020 converting the front structure from 4 units into 8. All 1 bedroom 1 bathroom. There is an additional stand alone unit above the garages in the back structure that consists of 3 bedrooms and 2 baths. Completely remodeled from electric, plumbing, and building systems to new floors, new kitchens and new bathrooms. Everything has been redone. There are five private garages that are all leased separately...Incredibly low expenses. High CAP rate. Completely rebuilt! Certificate Of Occupancy issued February 2020 converting the front structure from 4 units into 8. All 1 bedroom 1 bathroom. There is an additional stand alone unit above the garages in the back structure that consists of 3 bedrooms and 2 baths. Completely remodeled from electric, plumbing, and building systems to new floors, new kitchens and new bathrooms. Everything has been redone. There are five private garages that are all leased separately and on site washer and dryer to add cash flow monthly. Great opportunity in the heart of Exposition Park with exploding rents and property values. Just minutes from USC and the expo line. One garage vacant. OM available upon request.
  1. Listed by William Creed • DRE #01880695 • Brokerage DRE #00655202 • Clement Partners Real Estate

Property Details for 1409 West 55th Street

Zoning
LAC2
Parcel Number
5003017029
Total Units
9.0
Living Area
4896
Source Living Area
Vendor Enhanced
Area
Los Angeles Southwest (C34)
Vacancy Rate
0
Lot Size Area
5543

Location

Listing Courtesy of Clement Partners Real Estate, William Creed, DRE #01880695

Sold By Lee & Associates, John Battle, DRE #01191898

Add your commute
LISTING UPDATED: 02/08/2022 11:03 AM

Property Details for 1409 West 55th Street

StatusSold
MLS #21-792358
Days on Market30
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built2021
Lot Size0.13 AC / 5,543 SF
CountyLos Angeles County

Location

Listing Courtesy of Clement Partners Real Estate, William Creed, DRE #01880695

Sold By Lee & Associates, John Battle, DRE #01191898

Add your commute

Building Information for 1409 West 55th Street

Stories2Residences-Year Built2021Building Size-Lot Size0.13 AC / 5,543 SF

Payment Calculator

$14,346 per month

30 year fixed, 7.25% Interest

Principal and Interest

$12,006

Property Taxes

$2,340

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1409 West 55th Street

Community / Development
Community / Development
  • Number Of Units: 9
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Builder
  • Number Of Stories: 2
  • Number Of Buildings: 2
  • Type Of Units: Apartments
  • Property Condition: Updated/Remodeled
  • Water Heaters: Yes
  • Water Heater Features: Tankless, Gas, Water Heater Unit
  • Building Permit: Yes
Contract Info
Contract Info
  • Probate: No
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $156,840
  • Net Operating Income: $95,975.00
  • Gross Income: $156,840
  • Gross Rent Multiplier: $14.00
  • Total Annual Expense: 60865
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1273
  • Lot Size Square Feet: 5543
Parking Details
Parking Details
  • Parking Garage: Garage Is Attached
  • Total Parking: 5
  • Garage Spaces Total: 5
  • Attached Garage: Yes
Interior Features
Interior Features
  • Cooling Type: Ceiling Fan
  • Heating Type: Wall Gas
  • Equipment: Ceiling Fan, Dryer
  • Interior Features: Ceiling Fan(s)
  • Cooking Appliances: Oven-Gas
  • Laundry: Community
  • Laundry Equipment: Own
Exterior Features
Exterior Features
  • Roof: Flat
  • Entry Location: Main Level
  • Windows: Double Pane Windows
  • New Construction: No
  • Construction Materials: Stucco
  • Exterior Construction: Stucco
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 10-20-2021
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,575.00
  • Unit Actual Rent: $1,575.00
  • Unit Projected Rent: $1,750.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,495.00
  • Unit Actual Rent: $1,495.00
  • Unit Projected Rent: $1,750.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,500.00
  • Unit Actual Rent: $1,500.00
  • Unit Projected Rent: $1,750.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $710.00
  • Unit Actual Rent: $710.00
  • Unit Projected Rent: $1,750.00
  • Like Units: 1
Unit 5 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,575.00
  • Unit Actual Rent: $1,575.00
  • Unit Projected Rent: $1,750.00
  • Like Units: 1
Unit 6 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,495.00
  • Unit Actual Rent: $1,495.00
  • Unit Projected Rent: $1,750.00
  • Like Units: 1
Unit 7 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,495.00
  • Unit Actual Rent: $1,495.00
  • Unit Projected Rent: $1,750.00
  • Like Units: 1
Unit 8 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $710.00
  • Unit Actual Rent: $710.00
  • Unit Projected Rent: $1,750.00
  • Like Units: 1
Unit 9 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,400.00
  • Unit Actual Rent: $2,400.00
  • Unit Projected Rent: $2,750.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110, 2111, 2112, 2113, 2114
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $96,900.00
  • Assessed Improvement Percent: 11.24
  • Assessed Land Value: $765,000.00
  • Assessed Land Percent: 88.76
  • Assessed Total Value: $861,900.00

Property History for 1409 West 55th 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 1409 West 55th Street

Taxable ValueLand$1,632,000Additions$612,000Total$2,244,000
Tax Record2023$28,077 ($2,340 / month)
Home Facts
Total Finished SqFt5,966 SqFtAbove Grade Finished SqFt5,966 SqFtLot Size5,543 SqFtStyleMulti-Family Res (5+ Units)Year Built1922ZoningLAC2CountyLOS ANGELESAPN5003-017-029

Schools near 1409 West 55th Street

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - K to 8
Public - 6 to 9
Public - 9 to 12
Rating
School
Distance
Budlong Avenue Elementary School
PublicK to 5

Western Avenue Technology Magnet
PublicK to 8

Barack Obama Global Preparation Academy
Public6 to 9

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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Listing Courtesy of Clement Partners Real Estate, William Creed, DRE #01880695

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.