3044 Edgehill Drive

Los Angeles, CA 90018

$1,640,000
Price
1
Beds
8
Baths
7,574 Sq. Ft.
$217 / Sq. Ft.
7,574
Sq. Ft.
$217
per Sq. Ft.

Description

We are proud to present The Jefferson, an amazing multifamily opportunity located at 3044 Edgehill Dr., Los Angeles, California. This unique apartment complex is comprised of (8) apartment units in one distinct two-story building. The building was constructed of a wood frame with a flat roof and stucco exterior. The development of the building was completed in 1929 and encompassed an impressive ±7,574 building square feet situated on one parcel totaling ±8,005 square feet, offering a zoning of LARD1.5....We are proud to present The Jefferson, an amazing multifamily opportunity located at 3044 Edgehill Dr., Los Angeles, California. This unique apartment complex is comprised of (8) apartment units in one distinct two-story building. The building was constructed of a wood frame with a flat roof and stucco exterior. The development of the building was completed in 1929 and encompassed an impressive ±7,574 building square feet situated on one parcel totaling ±8,005 square feet, offering a zoning of LARD1.5. The updated apartment units are massive and consist of (8) one-bedroom + one-bath units, offering two points of entry. Each unit is individually metered for gas and electric, along with individual hot water heaters, further lowering utility costs. In recent years, the property systems have been upgraded, and the property offers a newer roof and copper plumbing, along with earthquake gas shut-off valves. The building is accessible from the front of the property off Edgehill Dr., and the property provides 7 onsite parking spaces that have yet to be monetized. Though certain upgrades have been made, there is still a considerable amount of value-add potential at the property, as well as tremendous upside, offering ±88% in potential untapped rental income, making The Jefferson an incredible opportunity for an investor looking to acquire a well-positioned asset at an unbelievable price of $216.53 p/sf. Though certain upgrades have been made, there is still a considerable amount of value-add potential at the property, as well as tremendous upside, offering ±88% in potential untapped rental income, making The Jefferson an incredible opportunity for an investor looking to acquire a well-positioned asset at an unbelievable price of $216.53 p/sf (8) One-Bedroom + One-Bath

Jefferson Park is a historic neighborhood located in the South Los Angeles region of Los Angeles, California. Situated just south of Downtown Los Angeles, Jefferson Park is bounded by West Adams to the north, Leimert Park to the south, Arlington Heights to the west, and the Exposition Park area to the east. The neighborhood is known for its diverse community, rich cultural heritage, and historic architecture. Jefferson Park offers a range of housing options, including apartments, single-family homes, and duplexes. The neighborhood’s apartment rental market is diverse, with properties ranging from historic buildings with charming architectural details to modern developments with luxury amenities. Rental prices in Jefferson Park tend to be more affordable compared to other neighborhoods in Los Angeles, making it an attractive option for renters seeking urban living without the high costs.
  1. Listed by Raymond Rodriguez • DRE #01402283 • Brokerage DRE #01811831 • Equity Union

Property Details for 3044 Edgehill Drive

Parking Spaces Total
7
Private Pool
No
Total Units
8.0
Building Type
Attached
Lot Size Source
Public Records
Living Area
7574
Assessor Parcel Number
5051-033-011
Property Attached YN
true

Location

Listing Courtesy of Equity Union, Raymond Rodriguez, DRE #01402283
Add your commute
LISTING UPDATED: 04/22/2024 01:39 PM

Property Details for 3044 Edgehill Drive

StatusActive
MLS #SR24080564
Days on Market13
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1929
CountyLos Angeles County

Location

Listing Courtesy of Equity Union, Raymond Rodriguez, DRE #01402283
Add your commute

Virtual Tour

Building Information for 3044 Edgehill Drive

Building/Complex3044 Edgehill DrFloor-Stories2Residences-Pet Policy-Year Built1929Building Size-

Payment Calculator

$10,453 per month

30 year fixed, 7.25% Interest

Principal and Interest

$8,950

Property Taxes

$1,503

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 3044 Edgehill Drive

Income / Expense / Tax Details
Income Details
  • Gross Income: $117,252
  • Gross Scheduled Income: $117,252
  • Net Operating Income: $67,776
  • Gross Multiplier: 13.99
  • Cap Rate: 4.13
Expense Details
  • Operating Expense: $45,958
  • Fuel Expense: $0
  • Electric Expense: $0
  • Insurance Expense: $0
  • Professional Management Expense: $0
  • Trash Expense: $0
  • Water Sewer Expense: $0
  • Total Expenses: $45,958
Tax / Assessment Info
  • Tax Block: Q
  • Tax Tract Number: 5580
  • CFD/Mello-Roos Fee: $0
  • Tax Lot: 9
Community / Development
Community / Development
  • Community Features: Suburban
Property / Structure Info
Interior Features
  • Laundry: No
  • Laundry Features: None
Exterior Features
  • Entry Location: 1
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: 6-10 Units/Acre
  • Number Of Units: 8
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Uncovered Spaces: 0
  • Open Other Spaces Total: 0
  • Parking Garage Spaces: 0
  • Carport Spaces: 7
Unit Information
Unit 1
  • Unit Type Units Total: 8
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,221
  • Unit Type Total Rent: $9,771
  • Unit Type Pro Forma: 2295
  • Unit Type Type: 1
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 0

Property History for 3044 Edgehill Drive

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 3044 Edgehill Drive

Taxable ValueLand$1,026,276Additions$368,120Total$1,394,396
Tax Record2023$18,030 ($1,503 / month)
Home Facts
Total Finished SqFt7,574 SqFtAbove Grade Finished SqFt7,574 SqFtLot Size8,005 SqFtStyleMulti-Family Res (5+ Units)Year Built1929ZoningLARD1.5CountyLOS ANGELESAPN5051-033-011

Schools near 3044 Edgehill Drive

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 8
Rating
School
Distance
Sixth Avenue Elementary School
PublicK to 5

Johnnie Cochran, Jr., Middle School
Public6 to 8

Susan Miller Dorsey Senior High School
Public9 to 12

ISANA Nascent Academy
CharterK to 8

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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3044 Edgehill Drive is a multi-family home for sale in Los Angeles, CA 90018. This property was listed for sale on April 22, 2024 by Equity Union, it's currently listed at $1,640,000. It has been on the market for a total of 13 days and was last sold on April 11, 2017. This listing's school district is Los Angeles Unified School District. Nearby schools include Sixth Avenue Elementary School, Johnnie Cochran, Jr., Middle School and Susan Miller Dorsey Senior High School. 3044 Edgehill Drive is a 1-bed, 8-bath, 7,574 sqft multi-family home built in 1929.

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 Equity Union, Raymond Rodriguez, DRE #01402283

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.