1984 Park Grove Avenue
1984 Park Grove Avenue
$4,550,000
9
26
14,549
14,549
$313
Description
$445k PRICE REDUCTION WITH NEW & IMPROVED METRICS! Bring all offers! 26 units located in the heart of the USC Patrol Zone, which has campus security patrolling the neighborhood 24/7/365. Any students living in the USC Patrol Zone get free Uber's! Great price per door of $175,000, and 4 units are currently vacant (2 of 4 are move-in-ready) for Buyer to hand-pick their own tenants. In-place GRM of 9.41 with the upside to a 6.45 GRM, and an in-place cap rate of 6.84% with the upside to a 10.95% cap...$445k PRICE REDUCTION WITH NEW & IMPROVED METRICS! Bring all offers! 26 units located in the heart of the USC Patrol Zone, which has campus security patrolling the neighborhood 24/7/365. Any students living in the USC Patrol Zone get free Uber's! Great price per door of $175,000, and 4 units are currently vacant (2 of 4 are move-in-ready) for Buyer to hand-pick their own tenants. In-place GRM of 9.41 with the upside to a 6.45 GRM, and an in-place cap rate of 6.84% with the upside to a 10.95% cap rate. Tenants can enjoy being 1 mile away from USC & Exposition Park and all of the attractions nearby like the new $1B George Lucas Museum, etc. Units are well sized with detached kitchens/bathrooms, with some having beautifully exposed brick and unrestricted views of the DTLA skyline. Majority of the units are on RUBS for utility reimbursements to help lower operating costs. There's a fire sprinkler system for all units and all hallways + common areas that was recently serviced, along with a fire alarm system, 24/7 security camera system and a burglar alarm system for secured entry & tenant safety. The electrical system has been updated, in addition to plumbing repairs, upgrades and re-piping. Exterior and common area improvements include new paint, window replacements, common area hallway flooring + stairs replacement, new washer & dryer machines (leased with WASH), water heaters, etc. ADU conversion potential on the bottom floor to convert 3 large vacant storage & office spaces into 3 ADU's/units (no in-place permits or RTI's), which would take the unit count to 29 and add substantial monthly/annual income. All 3 have plumbing & electrical in-place and ready to be converted!
- Listed by Jonathan Rawson • DRE #02010400 • Brokerage DRE #01872854 • Avenue Realty Group
- Listed by Robert Kellner • DRE #02201789 • Brokerage DRE #01872854 • Avenue Realty Group
Property Details for 1984 Park Grove Avenue
Zoning
LARD1.5
Parcel Number5124018009
Total Units26.0
Living Area14549
Source Living AreaVendor Enhanced
AreaDowntown L.A. (C42)
Vacancy Rate4
Lot Size Area5941
Location
LISTING UPDATED: 04/08/2024 02:41 PM
Property Details for 1984 Park Grove Avenue
Status | Active |
---|---|
MLS # | 24-350759 |
Days on Market | 96 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1912 |
Lot Size | 0.14 AC / 5,941 SF |
County | Los Angeles County |
Location
Building Information for 1984 Park Grove Avenue
Stories3Residences-Year Built1912Building Size-Lot Size0.14 AC / 5,941 SF
Payment Calculator
$29,693 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 1984 Park Grove Avenue
Property History for 1984 Park Grove Avenue
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 1984 Park Grove Avenue
Taxable ValueLand$3,060,000Additions$1,639,800Total$4,699,800
Tax Record2023$58,344 ($4,862 / month)
Home Facts
Total Finished SqFt14,549 SqFtAbove Grade Finished SqFt14,549 SqFtLot Size5,939 SqFtStyleMulti-Family Res (5+ Units)Year Built1912ZoningLARD1.5CountyLOS ANGELESAPN5124-018-009
Schools near 1984 Park Grove Avenue
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 - | K to 5 |
Rating | School | Distance |
---|---|---|
Norwood Street Elementary School PublicK to 5 | ||
John Adams Middle School Public6 to 8 | ||
West Adams Preparatory High School Public9 to 12 | ||
South Shores/Csudh Visual And Performing Arts PublicK to 5 |
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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