1541 East 51st Street

Los Angeles, CA 90011

$949,000
Price
8
Beds
4
Baths
3,036 Sq. Ft.
$313 / Sq. Ft.
3,036
Sq. Ft.
$313
per Sq. Ft.

Description

Great opportunity to purchase a well-maintained 4-unit apartment complex located in South LA. The complex is appx 3,036 SF on 5,000 SF lot, consists of 4 units in total- each 2BR/1BA, with four uncovered parking spaces in the back. Unit 4 will be delivered vacant and is currently be renovated. Live in one unit while collecting rents. Rents can be increased June 2024. Possibility for buyer to vacant another unit. Property also includes new roof (2022), individual electrical panels, all units separately...Great opportunity to purchase a well-maintained 4-unit apartment complex located in South LA. The complex is appx 3,036 SF on 5,000 SF lot, consists of 4 units in total- each 2BR/1BA, with four uncovered parking spaces in the back. Unit 4 will be delivered vacant and is currently be renovated. Live in one unit while collecting rents. Rents can be increased June 2024. Possibility for buyer to vacant another unit. Property also includes new roof (2022), individual electrical panels, all units separately metered, and each unit with own water heater. No laundry on site. The property is subject to rent control with significant rent upside. The seller will not relocate any of the exiting tenants. Centrally located just minutes from USC, DTLA, and many parks and museums nearby, along with many restaurants and shops, and easy access to freeways and transportation.
  1. Listed by Sabina Yi • DRE #01964836 • Brokerage DRE #01425795 • Keller Williams Beverly Hills
  2. Listed by Shawn S. Kormondy • DRE #01451888 • Brokerage DRE #01425795 • Keller Williams Beverly Hills

Property Details for 1541 East 51st Street

Zoning
LAR2
Style
Traditional
Parcel Number
5106023029
Total Units
4.0
Living Area
3036
Source Living Area
Assessor
Area
Downtown L.A. (C42)
Vacancy Rate
25%

Location

Listing Courtesy of Keller Williams Beverly Hills, Sabina Yi, DRE #01964836; Keller Williams Beverly Hills, Shawn S. Kormondy, DRE #01451888
Add your commute
LISTING UPDATED: 04/09/2024 12:01 AM

Property Details for 1541 East 51st Street

StatusActive
MLS #24-375173
Days on Market31
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1961
Lot Size0.11 AC / 5,000 SF
CountyLos Angeles County

Location

Listing Courtesy of Keller Williams Beverly Hills, Sabina Yi, DRE #01964836; Keller Williams Beverly Hills, Shawn S. Kormondy, DRE #01451888
Add your commute

Building Information for 1541 East 51st Street

Stories2Residences-Year Built1961Building Size-Lot Size0.11 AC / 5,000 SF

Payment Calculator

$5,179 per month

30 year fixed, 7.25% Interest

Principal and Interest

$5,179

Property Taxes

—

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1541 East 51st Street

Community / Development
Community / Development
  • Number Of Units: 4
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Fourplex
  • Security Features: Gated
  • Water Heaters: Yes
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $61,332
  • Net Operating Income: $40,283.00
  • Gross Income: $61,332
  • Cap Rate: 4.20%
  • Gross Rent Multiplier: $15.47
  • Total Annual Expense: 21049
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1148
  • Lot Size Square Feet: 5000
Parking Details
Parking Details
  • Parking Garage: Gated, Uncovered
  • Total Parking: 4
  • Open Other Spaces Total: 4
  • Parking Features: Gated, Uncovered
Interior Features
Interior Features
  • Levels: Multi/Split, Two
  • Cooling: None
  • Cooling Type: None
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Built-Ins, Range/Oven, Refrigerator, Dishwasher
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 04-01-2024
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,550.00
  • Unit Actual Rent: $1,550.00
  • Unit Projected Rent: $2,300.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $623.00
  • Unit Actual Rent: $623.00
  • Unit Projected Rent: $2,300.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $638.00
  • Unit Actual Rent: $638.00
  • Unit Projected Rent: $2,300.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,300.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $2,300.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $320,608.00
  • Assessed Improvement Percent: 43.26
  • Assessed Land Value: $420,470.00
  • Assessed Land Percent: 56.74
  • Assessed Total Value: $741,078.00

Property History for 1541 East 51st Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Schools near 1541 East 51st Street

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - 1 to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Hooper Avenue Elementary School
Public1 to 5

Los Angeles Academy Middle
Public6 to 8

Thomas Jefferson Senior High School
Public9 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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1541 East 51st Street is a multi-family home for sale in Los Angeles, CA 90011. This property was listed for sale on April 1, 2024 by Keller Williams Beverly Hills, it's currently listed at $949,000. This listing's school district is Los Angeles Unified School District. Nearby schools include Hooper Avenue Elementary School, Los Angeles Academy Middle and Social Justice Schools: Fine Arts Academy At Dr. Maya Angelou Community High. 1541 East 51st Street is a 8-bed, 4-bath, 3,036 sqft multi-family home built in 1961.

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 Keller Williams Beverly Hills, Sabina Yi, DRE #01964836; Keller Williams Beverly Hills, Shawn S. Kormondy, DRE #01451888

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.