1514 South Cochran Avenue

Los Angeles, CA 90019

$2,830,602
Last Sold Price
16
Beds
12
Baths
9,166 Sq. Ft.
$309 / Sq. Ft.
9,166
Sq. Ft.
$309
per Sq. Ft.

Description

Huge 500k Price Reduction! Value-Add 12 Unit building with 4 Fully Renovated units (1 vacant) in the highly coveted Mid-City area priced at only 258k/door and $338/SF. Amazing Current Cap Rate of 5% and 13.6 GRM with an incredible 83% upside to 10.7% Cap Rate and 7.4 GRM on proforma. The property features a diverse unit mix consisting of 8 Large (1bed/1bath) and 4 (2bed/1bath) units. 4 of the units have been fully remodeled with permits and boast new modern cabinets, flooring, recessed lighting,...Huge 500k Price Reduction! Value-Add 12 Unit building with 4 Fully Renovated units (1 vacant) in the highly coveted Mid-City area priced at only 258k/door and $338/SF. Amazing Current Cap Rate of 5% and 13.6 GRM with an incredible 83% upside to 10.7% Cap Rate and 7.4 GRM on proforma. The property features a diverse unit mix consisting of 8 Large (1bed/1bath) and 4 (2bed/1bath) units. 4 of the units have been fully remodeled with permits and boast new modern cabinets, flooring, recessed lighting, new bathrooms, stainless steel appliances, and a washer/dryer inside. All units are Individually metered for gas & electricity. The 9,166 SF of improvements sits on a large 12,230 double lot with parking in the back. Preliminary plans to add 3 attached ADUs in Carport + 2 detached ADUs. Solid 85 walk score, easy access to public transit, and freeways, situated minutes from The Grove, Beverly Center, Cedars-Sinai as well as the upcoming UCLA hospital and other major developments. In addition to the solid fundamentals, the property offers a new owner over 85% in achievable income upside potential. This amazing 12-unit multi-family investment property has undergone major exterior improvements as well and has been well maintained and cared for with a stable income stream ready to be taken to the next level!
  1. Listed by Julio Ruiz • DRE #01911261 • Brokerage DRE #01911261 • Global Platinum Properties, Inc.
  2. Listed by Armin Soleimani • DRE #01846872 • Brokerage DRE #01911261 • Global Platinum Properties, Inc.

Property Details for 1514 South Cochran Avenue

Zoning
LARD1.5
Parcel Number
5070012056
Total Units
12.0
Living Area
9166
Source Living Area
Vendor Enhanced
Area
Mid Los Angeles (C16)
Vacancy Rate
2 units
Lot Size Area
12330

Location

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

Sold By eXp Realty of California Inc, Urania Romero, DRE #02143146

Add your commute
LISTING UPDATED: 08/22/2023 12:18 PM

Property Details for 1514 South Cochran Avenue

StatusSold
MLS #23-290845
Days on Market10
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1957
Lot Size0.28 AC / 12,330 SF
CountyLos Angeles County

Location

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

Sold By eXp Realty of California Inc, Urania Romero, DRE #02143146

Add your commute

Building Information for 1514 South Cochran Avenue

Stories2Residences-Year Built1957Building Size-Lot Size0.28 AC / 12,330 SF

Payment Calculator

$15,448 per month

30 year fixed, 7.25% Interest

Principal and Interest

$15,448

Property Taxes

—

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1514 South Cochran Avenue

Community / Development
Community / Development
  • Number Of Units: 12
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 2
  • 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: Actual
  • Gross Operating Income: $220,857
  • Net Operating Income: $156,440.00
  • Gross Income: $227,688
  • Cap Rate: 5.00%
  • Gross Rent Multiplier: $13.62
  • Total Annual Expense: 64417
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.2831
  • Lot Size Square Feet: 12330
Parking Details
Parking Details
  • Parking Garage: Driveway, Assigned
  • Total Parking: 12
  • Parking Features: Driveway, Assigned
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Ceiling Fan
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Microwave, Dishwasher, Refrigerator
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 07-14-2023
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: Yes
  • Unit Rent: $3,295.00
  • Unit Actual Rent: $1,133.00
  • Unit Projected Rent: $3,295.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,695.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $2,695.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,695.00
  • Unit Actual Rent: $1,065.00
  • Unit Projected Rent: $2,695.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $3,295.00
  • Unit Actual Rent: $1,027.00
  • Unit Projected Rent: $3,295.00
  • Like Units: 1
Unit 5 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,695.00
  • Unit Actual Rent: $901.00
  • Unit Projected Rent: $2,695.00
  • Like Units: 1
Unit 6 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,695.00
  • Unit Actual Rent: $2,695.00
  • Unit Projected Rent: $2,695.00
  • Like Units: 1
Unit 7 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $3,295.00
  • Unit Actual Rent: $3,295.00
  • Unit Projected Rent: $3,295.00
  • Like Units: 1
Unit 8 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,695.00
  • Unit Actual Rent: $798.00
  • Unit Projected Rent: $2,695.00
  • Like Units: 1
Unit 9 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,750.00
  • Unit Actual Rent: $2,750.00
  • Unit Projected Rent: $2,750.00
  • Like Units: 1
Unit 10 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $3,295.00
  • Unit Actual Rent: $1,027.00
  • Unit Projected Rent: $3,295.00
  • Like Units: 1
Unit 11 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,695.00
  • Unit Actual Rent: $716.00
  • Unit Projected Rent: $2,695.00
  • Like Units: 1
Unit 12 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,695.00
  • Unit Actual Rent: $872.00
  • Unit Projected Rent: $2,695.00
  • 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: $135,356.00
  • Assessed Improvement Percent: 71.12
  • Assessed Land Value: $54,956.00
  • Assessed Land Percent: 28.88
  • Assessed Total Value: $190,312.00

Property History for 1514 South Cochran Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Schools near 1514 South Cochran Avenue

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

Emerson Community Charter School
Charter6 to 8

Fairfax Senior High School
Public9 to 12

New Los Angeles Charter School
Charter6 to 8

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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Similar Sold Homes

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

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.