1445 North Ave 47

1445 North Ave 47

Los Angeles, CA 90042

$6,450,000
Price
26
Beds
24
Baths
13,424 Sq. Ft.
$480 / Sq. Ft.
13,424
Sq. Ft.
$480
per Sq. Ft.
a living room with furniture and kitchen view
a living room with furniture and a wooden floor
a bathroom with a sink a toilet and shower
a bedroom with a large bed and a window
a car parked in front of a house
a car parked in front of a house
a front view of a house with a garage
a view of a building with a street view
a view of a house with a street
a living room with furniture and kitchen view
a kitchen with stainless steel appliances a sink and a refrigerator
a bedroom with a bed and wooden floor
a bath room with a sink and a toilet
a large kitchen with stainless steel appliances kitchen island granite countertop a refrigerator and a stove top oven
a large white kitchen with a stove a sink dishwasher and a refrigerator with wooden floor
a bedroom with a bed and a large window
a view of a house with a outdoor space
a living room with furniture and a flat screen tv
a living room with furniture a rug and a fireplace
a view of a city
a view of a city
an aerial view of residential houses with outdoor space and parking
a view of houses with street
a view of a balcony with seating space
a view of a building with a porch
a view of a building with potted plants
a swimming pool with yard

Description

Huge 550k Price Reduction! These 22 apartment units are an incredible investment opportunity cash flowing at a remarkable Current Cap Rate of 6% and 12 GRM from day one. Priced attractively at only $293k/door for fully renovated units, this property offers a significant upside potential to achieve an impressive 8% Cap Rate and 9.5 GRM on the proforma. This is a rare and excellent opportunity to acquire a turnkey apartment building with value-add potential in one of LA's hottest neighborhoods, Highland...Huge 550k Price Reduction! These 22 apartment units are an incredible investment opportunity cash flowing at a remarkable Current Cap Rate of 6% and 12 GRM from day one. Priced attractively at only $293k/door for fully renovated units, this property offers a significant upside potential to achieve an impressive 8% Cap Rate and 9.5 GRM on the proforma. This is a rare and excellent opportunity to acquire a turnkey apartment building with value-add potential in one of LA's hottest neighborhoods, Highland Park. The property features 12 fully renovated units with permits consisting of 8 units and 4 brand-new attached ADUs. Additionally, the parking soft-story retrofit has already been completed and all units are individually metered for gas and electricity, ensuring maximum efficiency in operation costs. The property features a diverse unit mix of 2 (2 bed/2 bath), 2 (2 bed/1 bath), and 18 (1 bed/1 bath) units. 13 units have been completely renovated with permits (1 vacant) and boast a high-end aesthetic with new modern cabinets, flooring, recessed lighting, new bathrooms, stainless steel appliances, as well as major exterior capital improvements. Notably, there are Preliminary Plans for 2 additional Detached ADUs over the open parking lot in the back that offer exceptional future upside potential. The property is steps away from all the hip restaurants, bars, and shops on Famous York Blvd. With its vibrant lifestyle close to Downtown Los Angeles, Highland Park has fast emerged as one of the most sought-after areas in town. The neighborhood offers easy access to entertainment venues and cultural hotspots, making it an ideal spot for young professionals and creatives seeking an urban lifestyle with all amenities nearby. For investors looking for high-quality investments in prime locations that offer long-term value potential while tapping into current trends, this property ticks all the boxes. The apartments are well-appointed with modern finishes that have been carefully curated to cater to today's discerning tenants' needs and tastes whether they be millennials or older adults seeking community living spaces that provide convenience along with style at every turn. Overall, these apartments represent an excellent investment opportunity that investors should consider taking advantage of now before it's too late!
  1. Listed by Armin Soleimani • DRE #01846872 • Brokerage DRE #01911261 • Global Platinum Properties, Inc.
  2. Listed by Julio Ruiz • DRE #01911261 • Brokerage DRE #01911261 • Global Platinum Properties, Inc.

Property Details for 1445 North Ave 47

Zoning
LARD3
Parcel Number
5474028013
Total Units
22.0
Living Area
13424
Source Living Area
Owner
Area
Highland Park (632)
Vacancy Rate
1 Unit
Lot Size Area
15030

Location

Listing Courtesy of Global Platinum Properties, Inc., Armin Soleimani, DRE #01846872; Global Platinum Properties, Inc., Julio Ruiz, DRE #01911261
Add your commute
LISTING UPDATED: 03/19/2024 12:01 AM

Property Details for 1445 North Ave 47

StatusActive
MLS #24-367553
Days on Market49
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1963
Lot Size0.35 AC / 15,030 SF
CountyLos Angeles County

Location

Listing Courtesy of Global Platinum Properties, Inc., Armin Soleimani, DRE #01846872; Global Platinum Properties, Inc., Julio Ruiz, DRE #01911261
Add your commute

Building Information for 1445 North Ave 47

Stories2Residences-Year Built1963Building Size-Lot Size0.35 AC / 15,030 SF

Payment Calculator

$39,582 per month

30 year fixed, 7.25% Interest

Principal and Interest

$35,200

Property Taxes

$4,382

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1445 North Ave 47

Community / Development
Community / Development
  • Number Of Units: 22
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Low Rise
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $518,621
  • Net Operating Income: $386,766.00
  • Gross Income: $534,661
  • Cap Rate: 6.00%
  • Gross Rent Multiplier: $12.06
  • Total Annual Expense: 131855
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.3451
  • Lot Size Square Feet: 15030
Parking Details
Parking Details
  • Parking Garage: None
  • Total Parking: 13
  • Parking Features: None
Interior Features
Interior Features
  • Levels: Two
  • Cooling: Wall/Window Unit(s)
  • Cooling Type: Wall/Window
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Refrigerator, Range/Oven
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 03-11-2024
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,395.00
  • Unit Actual Rent: $968.00
  • Unit Projected Rent: $2,395.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,395.00
  • Unit Actual Rent: $2,395.00
  • Unit Projected Rent: $2,395.00
  • Like Units: 5
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,275.00
  • Unit Actual Rent: $2,275.00
  • Unit Projected Rent: $2,275.00
  • Like Units: 4
Unit 4 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,395.00
  • Unit Actual Rent: $939.00
  • Unit Projected Rent: $2,395.00
  • Like Units: 1
Unit 5 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,395.00
  • Unit Actual Rent: $1,373.00
  • Unit Projected Rent: $2,395.00
  • Like Units: 1
Unit 6 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $3,250.00
  • Unit Actual Rent: $1,314.00
  • Unit Projected Rent: $3,250.00
  • Like Units: 1
Unit 7 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,995.00
  • Unit Actual Rent: $2,995.00
  • Unit Projected Rent: $2,995.00
  • Like Units: 1
Unit 8 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,495.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $2,495.00
  • Like Units: 1
Unit 9 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,495.00
  • Unit Actual Rent: $1,513.00
  • Unit Projected Rent: $2,495.00
  • Like Units: 1
Unit 10 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,495.00
  • Unit Actual Rent: $1,461.00
  • Unit Projected Rent: $2,495.00
  • Like Units: 2
Unit 11 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,995.00
  • Unit Actual Rent: $1,872.00
  • Unit Projected Rent: $2,995.00
  • Like Units: 1
Unit 12 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $3,250.00
  • Unit Actual Rent: $1,659.00
  • Unit Projected Rent: $3,250.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110, 2111, 2112, 2113, 2114, 2115, 2116, 2117
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $1,836,000.00
  • Assessed Improvement Percent: 44.39
  • Assessed Land Value: $2,300,100.00
  • Assessed Land Percent: 55.61
  • Assessed Total Value: $4,136,100.00

Property History for 1445 North Ave 47

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1445 North Ave 47

Taxable ValueLand$2,346,102Additions$1,874,720Total$4,220,822
Tax Record2023$52,588 ($4,382 / month)
Home Facts
Total Finished SqFt11,912 SqFtAbove Grade Finished SqFt11,912 SqFtLot Size15,030 SqFtStyleMulti-Family Res (5+ Units)Year Built1963ZoningLARD3CountyLOS ANGELESAPN5474-028-013

Schools near 1445 North Ave 47

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Toland Way Elementary School
Public - K to 6
Washington Irving Mid School Math Music and Engr Magnet
Public - 6 to 8
Benjamin Franklin Senior High School
Public - 6 to 12
Eagle Rock High School
Public - 7 to 12
Rating
School
Distance
Toland Way Elementary School
PublicK to 6

Washington Irving Mid School Math Music and Engr Magnet
Public6 to 8

Benjamin Franklin Senior High School
Public6 to 12

Eagle Rock High School
Public7 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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More information about 1445 North Ave 47, Los Angeles, CA 90042

1445 North Ave 47 is a multi-family home for sale in Los Angeles, CA 90042. This property was listed for sale on March 11, 2024 by Global Platinum Properties, Inc., it's currently listed at $6,450,000. It has been on the market for a total of 49 days and was last sold on May 5, 2021. This listing's school district is Los Angeles Unified School District. Nearby schools include Toland Way Elementary School, Washington Irving Mid School Math Music and Engr Magnet and Benjamin Franklin Senior High School. 1445 North Ave 47 is a 26-bed, 24-bath, 13,424 sqft multi-family home built in 1963.

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 Global Platinum Properties, Inc., Armin Soleimani, DRE #01846872; Global Platinum Properties, Inc., Julio Ruiz, DRE #01911261

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.