2459 Hidalgo Avenue

Los Angeles, CA 90039

$1,154,000
Last Sold Price
6
Beds
5
Baths
3,968 Sq. Ft.
$291 / Sq. Ft.
3,968
Sq. Ft.
$291
per Sq. Ft.

Description

Situated on a quiet cul-de-sac adjacent to single-family residences that have recently sold for $2,000,000, the hillside property offers dramatic views of the famous Silver Lake Reservoir. A new owner can capitalize on both the 53% rent upside on existing rents as well as the potential to complete permits for the already constructed studio ADU. All units include in-unit washer/dryers, while select units also feature wood flooring, decorative tile backsplashes, remodeled bathrooms, new kitchen cabinets,...Situated on a quiet cul-de-sac adjacent to single-family residences that have recently sold for $2,000,000, the hillside property offers dramatic views of the famous Silver Lake Reservoir. A new owner can capitalize on both the 53% rent upside on existing rents as well as the potential to complete permits for the already constructed studio ADU. All units include in-unit washer/dryers, while select units also feature wood flooring, decorative tile backsplashes, remodeled bathrooms, new kitchen cabinets, new ceiling fans, and upgraded lighting. The building also offers garage parking for four vehicles. The foundation was bolted in 2017 and a new sewer line was added in 2018, to help reduce future insurance and maintenance expenses. Located just blocks from the Silver Lake Reservoir, Silver Lake Meadows, and Ivanhoe Reservoir, the property allows tenants convenient access to an array of top-notch outdoor amenities. Whole Foods, Constellation Coffee, Gingergrass, Silver Lake Wine, and Starbucks are all within a few blocks as well. Beyond the Silver Lake border are the neighborhoods of Echo Park, Frogtown, Highland Park, Los Feliz, and Hollywood, each offering a unique blend of shopping and dining destinations. The three-bedroom townhouse unit currently operates as a separate upstairs two-bedroom apartment and a downstairs studio apartment. Income for the three-bedroom townhouse includes the combined total of these two units for the purpose of this underwriting.
  1. Listed by Roderick 'Rick' Raymundo • DRE #01357019 • Brokerage DRE #01240999 • Marcus & Millichap

Property Details for 2459 Hidalgo Avenue

Zoning
LAR2
Parcel Number
5440011025
Total Units
4.0
Living Area
3968
Source Living Area
Vendor Enhanced
Area
Silver Lake (671)
Vacancy Rate
0
Lot Size Area
5193

Location

Listing Courtesy of Marcus & Millichap, Roderick 'Rick' Raymundo, DRE #01357019

Sold By Marcus & Millichap, Roderick 'Rick' Raymundo, DRE #01357019

Add your commute
LISTING UPDATED: 08/23/2023 11:24 AM

Property Details for 2459 Hidalgo Avenue

StatusSold
MLS #23-251705
Days on Market95
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1939
Lot Size0.12 AC / 5,193 SF
CountyLos Angeles County

Location

Listing Courtesy of Marcus & Millichap, Roderick 'Rick' Raymundo, DRE #01357019

Sold By Marcus & Millichap, Roderick 'Rick' Raymundo, DRE #01357019

Add your commute

Building Information for 2459 Hidalgo Avenue

Stories2Residences-Year Built1939Building Size-Lot Size0.12 AC / 5,193 SF

Payment Calculator

$7,980 per month

30 year fixed, 7.25% Interest

Principal and Interest

$6,298

Property Taxes

$1,682

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 2459 Hidalgo Avenue

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: Residential
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: $98,195
  • Net Operating Income: $65,404.00
  • Gross Income: $101,232
  • Cap Rate: 4.35%
  • Gross Rent Multiplier: $15.31
  • Total Annual Expense: 32791
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1195
  • Lot Size Square Feet: 5193
Parking Details
Parking Details
  • Parking Garage: Assigned, Carport Attached
  • Total Parking: 4
  • Covered Parking: 4
  • Parking Features: Assigned, Attached Carport
  • Attached Garage: Yes
Interior Features
Interior Features
  • Cooling: None
  • Cooling Type: None
  • Heating: None
  • Heating Type: None
  • Equipment: None
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 03-16-2023
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,245.00
  • Unit Actual Rent: $3,736.00
  • Unit Projected Rent: $8,250.00
  • Like Units: 3
Unit 2 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $4,700.00
  • Unit Actual Rent: $4,700.00
  • Unit Projected Rent: $4,700.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $634,214.00
  • Assessed Improvement Percent: 40.0
  • Assessed Land Value: $951,324.00
  • Assessed Land Percent: 60
  • Assessed Total Value: $1,585,538.00

Property History for 2459 Hidalgo Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 2459 Hidalgo Avenue

Taxable ValueLand$970,350Additions$647,498Total$1,617,848
Tax Record2023$20,184 ($1,682 / month)
Home Facts
Total Finished SqFt3,968 SqFtAbove Grade Finished SqFt3,968 SqFtLot Size5,193 SqFtStyleMulti-Family Res (5+ Units)Year Built1939ZoningLAR2CountyLOS ANGELESAPN5440-011-025

Schools near 2459 Hidalgo Avenue

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

Renaissance Arts Academy
CharterK to 12

John Marshall 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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Similar Sold 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 Marcus & Millichap, Roderick 'Rick' Raymundo, DRE #01357019

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.