1514 West 205th Street
1514 West 205th Street
$1,725,000
14
7
4,466
4,466
$386
Closed 3/9/21
Description
Great opportunity to own this high-yielding 7-unit investment property in the highly desirable South Bay rental market. The property is conveniently located close to two major freeways (the 110 and the 405). It's just 15 minutes to LAX and 10 minutes to the beaches, and just a few minutes to the popular shopping, dining, and entertainment destinations in Old Town Torrance. All the units have 2 bedrooms and 1 bathroom each and are individually metered for electricity and gas. There are 14 available...Great opportunity to own this high-yielding 7-unit investment property in the highly desirable South Bay rental market. The property is conveniently located close to two major freeways (the 110 and the 405). It's just 15 minutes to LAX and 10 minutes to the beaches, and just a few minutes to the popular shopping, dining, and entertainment destinations in Old Town Torrance. All the units have 2 bedrooms and 1 bathroom each and are individually metered for electricity and gas. There are 14 available parking spots on the premises, and a coin-operated on-site laundry owned by the owner and which generates an additional $1300 revenue annually. Actual combined monthly rent is $10,088. Rents are due for an annual increase of 4% but have not yet been increased due to COVID-19 restrictions. When increased, this will boost rental income even further. All units are fully occupied, and tenants are currently on a month-to-month lease. All tenants are paying. There are no Section 8 tenants. The building is in excellent condition. The owner spent over $80,000 last year on the City of LA parking lot earthquake retrofit. All but one of the units were upgraded in the past two years, and the roof was replaced only last year. Cap Rate is 4.5%, in line with the average Cap Rate for both Los Angeles city and the South Bay area of 4.5%. Tenants do not know that the property is listed for sale. Please do not disturb tenants.
- Listed by Adeyanju Ajetunmobi • DRE #01717945 • Brokerage DRE #01345054 • Berkshire Hathaway HomeServices California Properties
Property Details for 1514 West 205th Street
Parking Spaces Total
14
Private PoolNo
Total Units7.0
Building TypeAttached
Lot Size SourceAssessor
Lot Size Dimensions7005
Living Area4466
Assessor Parcel Number7351-014-013
Location
LISTING UPDATED: 03/09/2021 07:06 AM
Property Details for 1514 West 205th Street
Status | Closed |
---|---|
MLS # | SB20240955 |
Days on Market | 28 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1958 |
Lot Size | 0.16 AC / 7,005 SF |
County | Los Angeles County |
Location
Building Information for 1514 West 205th Street
Stories2Residences-Year Built1958Building Size-Lot Size0.16 AC / 7,005 SF
Payment Calculator
$11,358 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 1514 West 205th Street
Property History for 1514 West 205th Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1514 West 205th Street
Taxable ValueLand$1,040,400Additions$754,540Total$1,794,940
Tax Record2023$23,334 ($1,944 / month)
Home Facts
Total Finished SqFt4,466 SqFtAbove Grade Finished SqFt4,466 SqFtLot Size7,005 SqFtStyleMulti-Family Res (5+ Units)Year Built1958ZoningLARD1.5CountyLOS ANGELESAPN7351-014-013
Schools near 1514 West 205th Street
This home is within Los Angeles Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 5 | |||
Public - | 7 to 12 | |||
Public - | 9 to 12 | |||
Charter - | 9 to 12 |
Rating | School | Distance |
---|---|---|
William J. Johnston Community Day School Public7 to 12 | ||
Nathaniel Narbonne Senior High School Public9 to 12 | ||
New Millennium Secondary Charter9 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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