1444 West 22nd Street
1444 West 22nd Street
Closed 6/1/23
Closed 6/1/23
Description
St is a value add 4-Plex comprised of (4) Massive 986
Sq. Ft 1-Bed/1-Bath units delivered with 1 vacancy. These Huge units can be converted into 3-Bedroom
Units! The property has FULL RTI Approved Permits= for
(2) additional 1-Bed/1-Bath ADUs! With ADUs converting one unit into a 2-Bedroom, 1444 22nd
operates at a 9.21% Cap Rate (Pre Construction Costs). Rare to find a property so close to USC with this much
upside and will stabilize near a 14% Cap Rate!...USC Adjacent! Under $200/SF with ADUs! 1444 W 22nd
St is a value add 4-Plex comprised of (4) Massive 986
Sq. Ft 1-Bed/1-Bath units delivered with 1 vacancy. These Huge units can be converted into 3-Bedroom
Units! The property has FULL RTI Approved Permits= for
(2) additional 1-Bed/1-Bath ADUs! With ADUs converting one unit into a 2-Bedroom, 1444 22nd
operates at a 9.21% Cap Rate (Pre Construction Costs). Rare to find a property so close to USC with this much
upside and will stabilize near a 14% Cap Rate! Using a conservative budget, after rehabbing the
available unit and building the 2 Approved ADUs, your
true cap rate will be over 7% before even touching the
occupied units. Give us a call and we can walk you
through this deal. You'll never find a USC DPS zone
multi-family at this Price per Square Foot Again. Located in the 90007 Zip Code and in the USC DPS
Zone, the subject property is steps from USC, Banc of
California Stadium and the Los Angeles Coliseum. The sf reflected represents the adu conversion
- Listed by Aaron Jacobson • DRE #02100737 • Brokerage DRE #01972083 • Lyon Stahl Investment Real Estate, Inc. • 310-729-1559
- Listed by Cameron Samimi • DRE #02035763 • Brokerage DRE #01972083 • Lyon Stahl Investment Real Estate, Inc.
Property Details for 1444 West 22nd Street
Location
Sold By Lyon Stahl Investment Real Estate, Inc., Aaron Jacobson, DRE #02100737
Property Details for 1444 West 22nd Street
| Status | Closed |
|---|---|
| MLS # | SB23038144 |
| Days on Market | 76 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1923 |
| Lot Size | 0.13 AC / 5,595 SF |
| County | Los Angeles County |
Location
Sold By Lyon Stahl Investment Real Estate, Inc., Aaron Jacobson, DRE #02100737
Building Information for 1444 West 22nd Street
Payment Calculator
$5,369 per month
30 year fixed, 7.25% Interest
$4,557
$812
$0
Property Information for 1444 West 22nd Street
- Gross Income: $109,944
- Gross Scheduled Income: $109,944
- Vacancy Allowance Rate: 3
- Gross Operating Income: $106,646
- Net Operating Income: $84,127
- Gross Multiplier: 10.47
- Cap Rate: 7.31
- Financing: Seller Financing
- Operating Expense: $22,518
- Operating Expense Percent: 20.48%
- Fuel Expense: $0
- Electric Expense: $0
- Insurance Expense: $0
- Trash Expense: $0
- Water Sewer Expense: $0
- Total Expenses: $22,518
- Tax Tract Number: 1234
- CFD/Mello-Roos Fee: $0
- Tax Lot: 0
- Community Features: Biking, Sidewalks, Urban
- Laundry: Yes
- Laundry Features: Gas Dryer Hookup, Individual Room, Inside, Washer Hookup
- Pool Features: None
- Pool Description: None
- Pool: N/K
- Lot Features: 0-1 Unit/Acre
- Number Of Units: 4
- Land Lease: No
- Land Lease Type: Fee
- Levels: Two
- Water: Public
- Sewer: Public Sewer
- Water Source: Public
- Garage Spaces: 0
- Parking Garage Spaces: 0
- Carport Spaces: 0
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Actual Rent: $0
- Unit Type Total Rent: $2,666
- Unit Type Pro Forma: 3465
- Unit Type Type: 1
- Unit Type Units Total: 1
- Unit Type Beds Total: 1
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Actual Rent: $825
- Unit Type Total Rent: $825
- Unit Type Pro Forma: 1995
- Unit Type Type: 2
- Unit Type Units Total: 1
- Unit Type Beds Total: 1
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Actual Rent: $522
- Unit Type Total Rent: $522
- Unit Type Pro Forma: 1995
- Unit Type Type: 3
- Unit Type Units Total: 1
- Unit Type Beds Total: 1
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Actual Rent: $760
- Unit Type Total Rent: $760
- Unit Type Pro Forma: 1995
- Unit Type Type: 4
- Unit Type Units Total: 1
- Unit Type Beds Total: 1
- Unit Type Baths Total: 1
- Unit Type Actual Rent: $0
- Unit Type Total Rent: $0
- Unit Type Pro Forma: 1795
- Unit Type Type: 5
- Unit Type Units Total: 1
- Unit Type Beds Total: 1
- Unit Type Baths Total: 1
- Unit Type Actual Rent: $0
- Unit Type Total Rent: $0
- Unit Type Pro Forma: 1795
- Unit Type Type: 6
- Number Of Units Leased: 3
- Rent Controlled: Yes
- Number Of Buildings: 1
- Number Of Separate Electric Meters: 4
- Number Of Separate Gas Meters: 4
- Number Of Separate Water Meters: 1
Property History for 1444 West 22nd Street
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1444 West 22nd Street
Schools near 1444 West 22nd Street
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Charter - | 6 to 12 |
Rating | School | Distance |
|---|---|---|
Vermont Avenue Elementary School PublicK to 5 | ||
John Adams Middle School Public6 to 8 | ||
West Adams Preparatory High School Public9 to 12 | ||
Alliance Gertz-Ressler Richard Merkin 6-12 Complex Charter6 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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Listing Courtesy of Lyon Stahl Investment Real Estate, Inc., Aaron Jacobson, DRE #02100737; Lyon Stahl Investment Real Estate, Inc., Cameron Samimi, DRE #02035763
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.