221 South Ave 19

Los Angeles, CA 90031

$1,950,000
Last Sold Price
10
Beds
8
Baths
4,130 Sq. Ft.
$472 / Sq. Ft.
4,130
Sq. Ft.
$472
per Sq. Ft.

Description

4.54% CAP | Turnkey Multifamily Opportunity. We are pleased to present the South Avenue 19 apartments: an eight (8) unit multifamily investment opportunity located in Lincoln Heights. These three single story, wood frame stucco buildings were built in 1923,1924, and 1925 and consist of 4,130 SF of living area with eight (8) on-site parking spaces. Further, this property is situated on a large 9,952 SF lot zoned LA-R1.5. The property features six (6) One bedroom | One bathroom units and two (2) spacious,...4.54% CAP | Turnkey Multifamily Opportunity. We are pleased to present the South Avenue 19 apartments: an eight (8) unit multifamily investment opportunity located in Lincoln Heights. These three single story, wood frame stucco buildings were built in 1923,1924, and 1925 and consist of 4,130 SF of living area with eight (8) on-site parking spaces. Further, this property is situated on a large 9,952 SF lot zoned LA-R1.5. The property features six (6) One bedroom | One bathroom units and two (2) spacious, completely remodeled Two bedroom | One bathroom units. Both of the 2 bedroom units and three of the 1 bedroom units have undergone extensive rehab including but not limited to: completely redone bathrooms and showers, upgraded living rooms, new kitchens featuring brand new appliances, laminate flooring, new windows, all new paint, etc. Further, these have been with updated with new plumbing and upgraded electrical. The new owner will benefit from the property's low annual expenses: no trash expense, separate gas and electric meters, and drought tolerant landscaping providing strong current and future cash flow. The property is located on S Avenue 19 just south of N Broadway near N San Fernando Rd. The property allows for tenants to live in close proximity to Downtown Los Angeles, with short commutes to the San Gabriel Valley, and close by transit at the Lincoln Heights/Cypress Park Station and Chinatown Station. The LA-USC Medical Center is just north of the 10 freeway, and nearby parks include Downey Recreation Center, Downey Playground and Lincoln Heights Recreation Center.
  1. Listed by Jonathan Prakash • DRE #01483131 • Brokerage DRE #01854200 • KW Advisors
  2. Listed by Derrick Vartanian • DRE #01816119 • Brokerage DRE #01854200 • KW Advisors

Property Details for 221 South Ave 19

Zoning
LARD1.5
Parcel Number
5447025013
Total Units
8.0
Living Area
4130
Source Living Area
Vendor Enhanced
Area
Lincoln Heights (677)
Vacancy Rate
0%
Lot Size Area
9952

Location

Listing Courtesy of KW Advisors, Jonathan Prakash, DRE #01483131; KW Advisors, Derrick Vartanian, DRE #01816119

Sold By KW Advisors, Derrick Vartanian, DRE #01816119; KW Advisors, Jonathan Prakash, DRE #01483131

Add your commute
LISTING UPDATED: 05/21/2022 04:05 PM

Property Details for 221 South Ave 19

StatusSold
MLS #21-110549
Days on Market77
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1923
Lot Size0.23 AC / 9,952 SF
CountyLos Angeles County

Location

Listing Courtesy of KW Advisors, Jonathan Prakash, DRE #01483131; KW Advisors, Derrick Vartanian, DRE #01816119

Sold By KW Advisors, Derrick Vartanian, DRE #01816119; KW Advisors, Jonathan Prakash, DRE #01483131

Add your commute

Building Information for 221 South Ave 19

Stories1Residences-Year Built1923Building Size-Lot Size0.23 AC / 9,952 SF

Payment Calculator

$12,728 per month

30 year fixed, 7.25% Interest

Principal and Interest

$10,642

Property Taxes

$2,086

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 221 South Ave 19

Community / Development
Community / Development
  • Number Of Units: 8
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 1
  • Number Of Buildings: 3
  • Type Of Units: 1BRs, 2BR
  • Property Condition: Updated/Remodeled
Contract Info
Contract Info
  • Probate: No
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $138,338
  • Net Operating Income: $93,746.00
  • Gross Income: $142,536
  • Cap Rate: 4.54%
  • Gross Rent Multiplier: $14.49
  • Owner Pays: Other, Gardener, Water
  • Total Annual Expense: 44592
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.2285
  • Lot Size Square Feet: 9952
Parking Details
Parking Details
  • Parking Garage: Driveway, Uncovered
  • Total Parking: 8
  • Open Other Spaces Total: 8
  • Parking Features: Driveway, Uncovered
Interior Features
Interior Features
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling: Wall/Window Unit(s)
  • Cooling Type: Wall/Window
  • Heating: None
  • Heating Type: None
  • Flooring: Laminate, Carpet
  • Equipment: Other
  • Laundry: In Unit
Exterior Features
Exterior Features
  • Pool: No
  • Private Pool: No
  • Pool Description: None
  • Pool Features: None
  • Spa: No
  • Spa: None
  • Tennis: No
  • Tennis Court: None
  • New Construction: No
  • Other Structural Features: Partial Copper Plumbing
  • Other Structures: Shed(s)
Lease Terms
Lease Terms
  • Entry Date: 12-07-2021
  • Tenant Pays: Gas, Electricity
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,210.00
  • Unit Actual Rent: $7,260.00
  • Unit Projected Rent: $9,900.00
  • Like Units: 6
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,200.00
  • Unit Actual Rent: $4,400.00
  • Unit Projected Rent: $4,895.00
  • Like Units: 2
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $473,030.00
  • Assessed Improvement Percent: 36.0
  • Assessed Land Value: $840,942.00
  • Assessed Land Percent: 64
  • Assessed Total Value: $1,313,972.00

Property History for 221 South Ave 19

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 221 South Ave 19

Taxable ValueLand$1,020,000Additions$969,000Total$1,989,000
Tax Record2023$25,037 ($2,086 / month)
Home Facts
Total Finished SqFt4,130 SqFtAbove Grade Finished SqFt4,130 SqFtLot Size9,953 SqFtStyleMulti-Family Res (5+ Units)Year Built1923ZoningLARD1.5CountyLOS ANGELESAPN5447-025-013

Schools near 221 South Ave 19

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

Florence Nightingale Middle School
Public6 to 8

Woodrow Wilson Senior High School
Public9 to 12

Abraham Lincoln 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.

Similar Homes

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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 KW Advisors, Jonathan Prakash, DRE #01483131; KW Advisors, Derrick Vartanian, DRE #01816119

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.