1975 South Corning Street

Los Angeles, CA 90034

$5,499,000
Price
26
Beds
21
Baths
12,816 Sq. Ft.
$429 / Sq. Ft.
12,816
Sq. Ft.
$429
per Sq. Ft.

Description

Classic 60's courtyard building with garden-style, walk-up units, that are prevalent in The Westside. Just North of the 10 Freeway and a few blocks West of La Cienega, the property is located in La Cienega Heights, neighboring Palms - one of The Westside's most robust rental submarkets. A tried-and-true investment option with easy access to jobs, dining and retail in Beverly Hills, Culver City and Hollywood. Highly "walkable" just 2 blocks from a large retail center, anchored by Target, LA Fitness...Classic 60's courtyard building with garden-style, walk-up units, that are prevalent in The Westside. Just North of the 10 Freeway and a few blocks West of La Cienega, the property is located in La Cienega Heights, neighboring Palms - one of The Westside's most robust rental submarkets. A tried-and-true investment option with easy access to jobs, dining and retail in Beverly Hills, Culver City and Hollywood. Highly "walkable" just 2 blocks from a large retail center, anchored by Target, LA Fitness & CVS. Through organic turnover or "cash for keys", a Buyer can expect healthy rent increases and a proforma cap rate of 6%.
  1. Listed by Brice Head • DRE #01330706 • Brokerage DRE #00868409 • CBRE, Inc.

Property Details for 1975 South Corning Street

Zoning
LARD2
Parcel Number
4302028035
Total Units
15.0
Living Area
12816
Source Living Area
Vendor Enhanced
Area
Beverlywood Vicinity (C09)
Vacancy Rate
3%
Lot Size Area
12612

Location

Listing Courtesy of CBRE, Inc., Brice Head, DRE #01330706
Add your commute
LISTING UPDATED: 04/10/2024 10:50 AM

Property Details for 1975 South Corning Street

StatusActive
MLS #24-378401
Days on Market29
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1963
Lot Size0.29 AC / 12,612 SF
CountyLos Angeles County

Location

Listing Courtesy of CBRE, Inc., Brice Head, DRE #01330706
Add your commute

Building Information for 1975 South Corning Street

Stories2Residences-Year Built1963Building Size-Lot Size0.29 AC / 12,612 SF

Payment Calculator

$32,763 per month

30 year fixed, 7.25% Interest

Principal and Interest

$30,010

Property Taxes

$2,753

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1975 South Corning Street

Community / Development
Community / Development
  • Number Of Units: 15
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Residential
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: $349,173
  • Net Operating Income: $221,889.00
  • Gross Income: $359,848
  • Gross Rent Multiplier: $15.28
  • Total Annual Expense: 127284
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.2895
  • Lot Size Square Feet: 12612
  • Lot Size Dimensions: 90x140
  • Source Lot Size Dimensions: Vendor Enhanced
Parking Details
Parking Details
  • Parking Garage: Covered Parking
  • Total Parking: 15
  • Parking Features: Covered
Interior Features
Interior Features
  • Levels: Two
  • Cooling: None
  • Cooling Type: None
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Range/Oven
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 04-09-2024
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,691.50
  • Unit Actual Rent: $10,149.00
  • Unit Projected Rent: $13,200.00
  • Like Units: 6
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,897.00
  • Unit Actual Rent: $3,794.00
  • Unit Projected Rent: $5,000.00
  • Like Units: 2
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,200.00
  • Unit Actual Rent: $11,003.00
  • Unit Projected Rent: $14,500.00
  • Like Units: 5
Unit 4 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,353.00
  • Unit Actual Rent: $4,707.70
  • Unit Projected Rent: $6,600.00
  • Like Units: 2
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $778,943.00
  • Assessed Improvement Percent: 30.08
  • Assessed Land Value: $1,810,720.00
  • Assessed Land Percent: 69.92
  • Assessed Total Value: $2,589,663.00

Property History for 1975 South Corning 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 1975 South Corning Street

Taxable ValueLand$1,810,720Additions$778,943Total$2,589,663
Tax Record2023$33,033 ($2,753 / month)
Home Facts
Total Finished SqFt12,816 SqFtAbove Grade Finished SqFt12,816 SqFtLot Size12,609 SqFtStyleMulti-Family Res (5+ Units)Year Built1963ZoningLARD2CountyLOS ANGELESAPN4302-028-035

Schools near 1975 South Corning Street

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
Public - 6 to 12
Rating
School
Distance
Shenandoah Street Elementary School
PublicK to 5

Alexander Hamilton Senior High School
Public9 to 12

Los Angeles Center For Enriched Studies
Public6 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

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

1975 South Corning Street is a multi-family home for sale in Los Angeles, CA 90034. This property was listed for sale on April 1, 2024 by CBRE, Inc., it's currently listed at $5,499,000. It has been on the market for a total of 29 days and was last sold on November 21, 1990. This listing's school district is Los Angeles Unified School District. Nearby schools include Shenandoah Street Elementary School, Mark Twain Middle School and World Languages Magnet and Alexander Hamilton Senior High School. 1975 South Corning Street is a 26-bed, 21-bath, 12,816 sqft multi-family home built in 1963.

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 CBRE, Inc., Brice Head, DRE #01330706

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.