1627 North Poinsettia Place

Los Angeles, CA 90046

$5,495,000
Price
22
Beds
24
Baths
14,817 Sq. Ft.
$371 / Sq. Ft.
14,817
Sq. Ft.
$371
per Sq. Ft.

Description

1627 N Poinsettia Place is a 20 unit multi-family property located in a prime Hollywood location. This three story apartment building was originally constructed in 1965 and falls under LA City rent control. The Poinsettia Place Residences are a large apartment building of approximately 14,817 Sq. Ft. The property has an excellent unit mix of (2) Studio (4) 2 BR + 2 Bath & (14) 1 BR + 1 Bath units. The rents are below market, creating a quintessential value-add opportunity. The property has recently...1627 N Poinsettia Place is a 20 unit multi-family property located in a prime Hollywood location. This three story apartment building was originally constructed in 1965 and falls under LA City rent control. The Poinsettia Place Residences are a large apartment building of approximately 14,817 Sq. Ft. The property has an excellent unit mix of (2) Studio (4) 2 BR + 2 Bath & (14) 1 BR + 1 Bath units. The rents are below market, creating a quintessential value-add opportunity. The property has recently received some significant renovations including a new master water heater. One of the 2 BR units is a spacious well renovated unit that is already receiving $3,548 a month in rent. The manager's unit which is a studio unit will be delivered vacant at the close of escrow. Two other 1 BR + 1 Bath units will also be delivered vacant. The building has gated subterranean parking. 1627 N Poinsettia provides an astute multi-family investor the opportunity to purchase a value-add multi-family asset in one the most highly sough after rental locations in all of Los Angeles.
  1. Listed by Errol Spiro • DRE #00893163 • Brokerage DRE #00893163 • Miller & Desatnik Realty Co.

Property Details for 1627 North Poinsettia Place

Zoning
LAR3
Style
Art Deco
Parcel Number
5548009033
Total Units
20.0
Living Area
14817
Source Living Area
Assessor
Area
Hollywood (C20)
Vacancy Rate
12,595

Location

Listing Courtesy of Miller & Desatnik Realty Co., Errol Spiro, DRE #00893163
Add your commute
LISTING UPDATED: 03/05/2024 12:01 AM

Property Details for 1627 North Poinsettia Place

StatusActive
MLS #24-362583
Days on Market65
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1965
Lot Size0.19 AC / 8,439 SF
CountyLos Angeles County

Location

Listing Courtesy of Miller & Desatnik Realty Co., Errol Spiro, DRE #00893163
Add your commute

Building Information for 1627 North Poinsettia Place

Stories3Residences-Year Built1965Building Size-Lot Size0.19 AC / 8,439 SF

Payment Calculator

$36,420 per month

30 year fixed, 7.25% Interest

Principal and Interest

$29,988

Property Taxes

$6,432

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1627 North Poinsettia Place

Community / Development
Community / Development
  • Number Of Units: 20
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 3
  • Number Of Buildings: 1
  • Type Of Units: Apartments
  • View: No
  • View Description: None
  • View: None
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: $410,841
  • Net Operating Income: $250,841.00
  • Gross Income: $419,837
  • Cap Rate: 4.56%
  • Gross Rent Multiplier: $12.98
  • Total Annual Expense: 160000
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1937
  • Lot Size Square Feet: 8439
  • Lot Size Dimensions: 60x140
  • Source Lot Size Dimensions: Assessor
Parking Details
Parking Details
  • Parking Garage: Subterranean, Gated
  • Total Parking: 22
  • Parking Features: Subterranean, Gated
Interior Features
Interior Features
  • Levels: Three Or More
  • Cooling Type: Air Conditioning
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Refrigerator, Range/Oven, Elevator, Dishwasher
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 02-27-2024
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,022.00
  • Unit Actual Rent: $2,043.00
  • Unit Projected Rent: $1,495.00
  • Like Units: 2
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,622.00
  • Unit Actual Rent: $22,708.00
  • Unit Projected Rent: $1,995.00
  • Like Units: 14
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,559.00
  • Unit Actual Rent: $10,235.00
  • Unit Projected Rent: $3,075.00
  • Like Units: 4
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $1,646,130.00
  • Assessed Improvement Percent: 26.27
  • Assessed Land Value: $4,620,723.00
  • Assessed Land Percent: 73.73
  • Assessed Total Value: $6,266,853.00

Property History for 1627 North Poinsettia Place

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 1627 North Poinsettia Place

Taxable ValueLand$4,620,723Additions$1,650,290Total$6,271,013
Tax Record2023$77,182 ($6,432 / month)
Home Facts
Total Finished SqFt14,817 SqFtAbove Grade Finished SqFt14,817 SqFtLot Size8,436 SqFtStyleMulti-Family Res (5+ Units)Year Built1965ZoningLAR3CountyLOS ANGELESAPN5548-009-033

Schools near 1627 North Poinsettia Place

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

Hubert Howe Bancroft Middle School
Public6 to 8

Hollywood Senior High School
Public9 to 12

Larchmont Charter School
CharterK 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.

Similar Homes

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1627 North Poinsettia Place is a multi-family home for sale in Los Angeles, CA 90046. This property was listed for sale on February 26, 2024 by Miller & Desatnik Realty Co., it's currently listed at $5,495,000. It has been on the market for a total of 65 days and was last sold on April 7, 2015. This listing's school district is Los Angeles Unified School District. Nearby schools include Gardner Street Elementary School, Hubert Howe Bancroft Middle School and Hollywood Senior High School. 1627 North Poinsettia Place is a 22-bed, 24-bath, 14,817 sqft multi-family home built in 1965.

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 Miller & Desatnik Realty Co., Errol Spiro, DRE #00893163

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.