440 South Wilton Place

Los Angeles, CA 90020

$2,250,000
Last Sold Price
14
Beds
8
Baths
8,630 Sq. Ft.
$261 / Sq. Ft.
8,630
Sq. Ft.
$261
per Sq. Ft.

Description

Overbid hearing scheduled on tuesday, august 22, 2023. OPENING BID WILL BE $2,363,000. 440 S Wilton Pl. is a well located 7,058 square foot eight (8) unit apartment building in Koreatown. It is composed of four 1+1 units, two 2+1.5 units and two 3+1.5 units. Seven (7) of the eight (8) units will be delivered vacant providing a rare opportunity! Rents for the vacant units are projected. Each unit averages over 875 sq. ft. and is separately metered for gas and electricity. The property is situated...Overbid hearing scheduled on tuesday, august 22, 2023. OPENING BID WILL BE $2,363,000. 440 S Wilton Pl. is a well located 7,058 square foot eight (8) unit apartment building in Koreatown. It is composed of four 1+1 units, two 2+1.5 units and two 3+1.5 units. Seven (7) of the eight (8) units will be delivered vacant providing a rare opportunity! Rents for the vacant units are projected. Each unit averages over 875 sq. ft. and is separately metered for gas and electricity. The property is situated on a 8,630 square foot lot and is zoned LAR3 (ADDITIONAL PARCEL 5504-025-026). There are eight (8) onsite parking spaces and onsite laundry. Property in the Los Angeles REAP Program. The subject property is also ideally located near the 101 freeway and is walking distance to the Wilshire/Western Metro Station. It is deemed a "Walker's Paradise" earning a walkability score of 90. Located South of 3rd St. on Wilton Pl. with easy access to all of the excellent restaurants, shopping and entertainment Koreatown, Hollywood and Downtown LA have to offer. This property presents a VERY UNIQUE opportunity for an investor looking to renovate and re-tenant a building to capture CASH FLOW.
  1. Listed by Nicole Apostolos • DRE #01464936 • Brokerage DRE #01342342 • Equity Union

Property Details for 440 South Wilton Place

Zoning
LAR3
Parcel Number
5504025004
Total Units
8.0
Living Area
8630
Source Living Area
Title Company
Area
Hancock Park-Wilshire
Vacancy Rate
88%
Lot Size Area
8630

Location

Listing Courtesy of Equity Union, Nicole Apostolos, DRE #01464936

Sold By Equity Union, Nicole Apostolos, DRE #01464936

Add your commute
LISTING UPDATED: 12/04/2023 01:47 PM

Property Details for 440 South Wilton Place

StatusSold
MLS #23-270866
Days on Market45
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1956
Lot Size0.20 AC / 8,630 SF
CountyLos Angeles County

Location

Listing Courtesy of Equity Union, Nicole Apostolos, DRE #01464936

Sold By Equity Union, Nicole Apostolos, DRE #01464936

Add your commute

Building Information for 440 South Wilton Place

Stories2Residences-Year Built1956Building Size-Lot Size0.20 AC / 8,630 SF

Payment Calculator

$13,457 per month

30 year fixed, 7.25% Interest

Principal and Interest

$12,279

Property Taxes

$1,178

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 440 South Wilton Place

Community / Development
Community / Development
  • Number Of Units: 8
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Mixed
  • View: No
  • View Description: None
  • View: None
  • Security Features: None
  • Direction Faces: West
  • Water Heaters: Yes
Contract Info
Contract Info
  • Probate: No
  • Financing: Cash
  • Disclosures: Court Approval Required, As Is
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $233,673
  • Net Operating Income: $177,702.00
  • Gross Income: $240,900
  • Cap Rate: 7.40%
  • Gross Rent Multiplier: $9.96
  • Actual Annual Gross Rent: $240,900.00
  • Total Annual Expense: 55971
Land / Lot Info
Land / Lot Info
  • Additional Parcel Number: No
  • Alley: Yes
  • Lot Acreage: 0.1751
  • Lot Size Square Feet: 8630
Parking Details
Parking Details
  • Parking Garage: None
  • Total Parking: 8
  • Open Other Spaces Total: 4
  • Garage Spaces Total: 4
  • Parking Features: None
Interior Features
Interior Features
  • Cooling: None
  • Cooling Type: None
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: None
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 05-17-2023
  • Listing Terms: Subject To Court
  • Rent Control: Yes
  • Rent Control: 100
Unit Details
Unit 1 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $7,000.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $7,000.00
  • Like Units: 2
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $4,275.00
  • Unit Actual Rent: $1,475.00
  • Unit Projected Rent: $5,000.00
  • Like Units: 2
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $8,800.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $8,800.00
  • Like Units: 4
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $1,134,077.00
  • Assessed Improvement Percent: 45.82
  • Assessed Land Value: $1,340,982.00
  • Assessed Land Percent: 54.18
  • Assessed Total Value: $2,475,059.00

Property History for 440 South Wilton Place

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 440 South Wilton Place

Taxable ValueLand$558,166Additions$515,026Total$1,073,192
Tax Record2023$14,141 ($1,178 / month)
Home Facts
Total Finished SqFt7,058 SqFtAbove Grade Finished SqFt7,058 SqFtLot Size7,625 SqFtStyleMulti-Family Res (5+ Units)Year Built1956ZoningLAR3CountyLOS ANGELESAPN5504-025-004

Schools near 440 South Wilton Place

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Charter - 6 to 8
Public - 9 to 12
Charter - K to 8
Rating
School
Distance
Third Street Elementary School
PublicK to 5

Magnolia Science Academy 6 School
Charter6 to 8

Fairfax Senior High School
Public9 to 12

Everest Value
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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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, Nicole Apostolos, DRE #01464936

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.