1506 West 56th Street

Los Angeles, CA 90062

$700,000
Last Sold Price
3
Beds
3
Baths
1,456 Sq. Ft.
$481 / Sq. Ft.
1,456
Sq. Ft.
$481
per Sq. Ft.

Description

Great opportunity to purchase this two on a lot in one of the fastest growing areas of Los Angeles! Invest and hold or live in one unit and receive rent from the other, either option will produce great results. The front unit is a 2-bed 1 bath, however the laundry area has been converted to a 3rd bedroom with closet. The rear unit is a one bed one bath. Property is sold "as Is" in its present condition. Owner is negotiating with front tenant so that BOTH UNITS CAN BE DELIVERIED VACANT. Excellent...Great opportunity to purchase this two on a lot in one of the fastest growing areas of Los Angeles! Invest and hold or live in one unit and receive rent from the other, either option will produce great results. The front unit is a 2-bed 1 bath, however the laundry area has been converted to a 3rd bedroom with closet. The rear unit is a one bed one bath. Property is sold "as Is" in its present condition. Owner is negotiating with front tenant so that BOTH UNITS CAN BE DELIVERIED VACANT. Excellent location, close to bus line, freeways, hospitals and schools. All information in deemed reliable, but the seller nor its agent make no guarantee as to its accuracy. Therefore, buyer and buyers agent are advised to complete their on due diligence as to all aspects of this property.
  1. Listed by Jerol Crawford • DRE #01331482 • Brokerage DRE #01331482 • Jerold Crawford

Property Details for 1506 West 56th Street

Architectural Style
Mid Century Modern
View
None
Parking Spaces Total
2
Private Pool
No
Cooling Type
N/K
Total Units
2.0
Building Type
Detached
Lot Size Source
Assessor

Location

Listing Courtesy of Jerold Crawford, Jerol Crawford, DRE #01331482

Sold By McAlpin & Company, Jerome McAlpin, DRE #00939725

Add your commute
LISTING UPDATED: 01/19/2022 11:01 PM

Property Details for 1506 West 56th Street

StatusClosed
MLS #IN21218748
Days on Market7
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1924
Lot Size0.11 AC / 4,991 SF
CountyLos Angeles County

Location

Listing Courtesy of Jerold Crawford, Jerol Crawford, DRE #01331482

Sold By McAlpin & Company, Jerome McAlpin, DRE #00939725

Add your commute

Building Information for 1506 West 56th Street

Stories-Residences-Year Built1924Building Size-Lot Size0.11 AC / 4,991 SF

Payment Calculator

$4,618 per month

30 year fixed, 7.25% Interest

Principal and Interest

$3,820

Property Taxes

$798

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1506 West 56th Street

Rental Info
Rental Info
  • Tenant Pays: All Utilities, Electricity, Gas
Income / Expense / Tax Details
Income Details
  • Gross Income: $4,000
  • Gross Scheduled Income: $4,000
  • Net Operating Income: $2,937
  • Current Financing: Conventional
Expense Details
  • Operating Expense: $1,063
  • Operating Expense Percent: 27.00%
  • New Taxes Expense: $703
  • Insurance Expense: $200
  • Trash Expense: $85
  • Supplies Expense: $75
  • Total Expenses: $1,063
Tax / Assessment Info
  • Tax Tract Number: 772
  • Tax Census Tract: 2326.00
  • CFD/Mello-Roos Fee: $290
  • Tax Lot: 35
Community / Development
Community / Development
  • Assessments YN: Yes
  • Assessments: Unknown
  • Community Features: Curbs, Storm Drains, Street Lights
Property / Structure Info
Interior Features
  • Appliances: Gas Oven, Gas Range, Water Heater
  • Equipment: Room
  • Room Type: Kitchen, Living Room
  • Laundry: Yes
  • Laundry Features: Individual Room
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling: None
  • Heating Type: Floor Furnace
  • Heating: Floor Furnace
  • Heat Equipment: Floor Furnace
  • Flooring: Laminate, Vinyl
Exterior Features
  • Construction Materials: Concrete
  • Exterior Construction: Concrete
  • Roof: Asbestos Shingle
  • Fence: No
  • Fence: None
  • Fencing: None
  • Foundation Details: Raised
  • View Description: None
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: Back Yard, Landscaped, Lawn, Yard
  • Number Of Units: 2
  • Land Lease: No
  • Land Lease Type: Fee
  • Road Surface Type: Paved
  • Sewer: Public Sewer
  • Utilities: Cable Connected, Electricity Connected, Natural Gas Available, Sewer Connected, Water Connected
  • Electric: Electricity - On Property
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking: Yes
  • Parking Garage: Driveway
  • Uncovered Spaces: 2
  • Open Other Spaces Total: 2
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
  • Parking Features: Driveway
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,369
  • Unit Type Total Rent: $1,369
  • Unit Type Pro Forma: 2500
  • Unit Type Type: 1
Unit 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 Garage Attached: No
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 1500
  • Unit Type Type: 2
Unit Information
  • Number Of Units Leased: 1
  • Rent Controlled: Yes
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 2
  • Number Of Separate Gas Meters: 2
  • Number Of Separate Water Meters: 2
  • Number With Dishwasher: 0
  • Number With Range: 0
  • Number With Refrigerator: 0
  • Number With Carpet: 2
  • Number With Disposal: 0
  • Number With Drapes: 0
  • Number With Patio: 0
  • Number Wall AC: 0

Property History for 1506 West 56th 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 1506 West 56th Street

Taxable ValueLand$601,800Additions$112,200Total$714,000
Tax Record2023$9,571 ($798 / month)
Home Facts
Total Finished SqFt1,456 SqFtAbove Grade Finished SqFt1,456 SqFtLot Size4,991 SqFtStyleDuplexYear Built1924ZoningLAR2CountyLOS ANGELESAPN5003-026-015

Schools near 1506 West 56th 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.

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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 Jerold Crawford, Jerol Crawford, DRE #01331482

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.