529 West 74th Street

Los Angeles, CA 90044

$775,000
Last Sold Price
7
Beds
4
Baths
3,461 Sq. Ft.
$224 / Sq. Ft.
3,461
Sq. Ft.
$224
per Sq. Ft.

Description

529 W 74th Street is a 4-unit value add apartment building located in South Los Angeles, CA. The building is fully occupied and has an excellent unit mix of (3) 2 Bed, 1 Bath units and (1) 1 Bed, 1 Bath unit. The property is comprised of two detached duplexes on one lot, with surface parking access in the rear. The property is currently operating with approximately 76% in potential rental upside, allowing for significant value to be added for the next owner. 529 W 74th Street presents an excellent...529 W 74th Street is a 4-unit value add apartment building located in South Los Angeles, CA. The building is fully occupied and has an excellent unit mix of (3) 2 Bed, 1 Bath units and (1) 1 Bed, 1 Bath unit. The property is comprised of two detached duplexes on one lot, with surface parking access in the rear. The property is currently operating with approximately 76% in potential rental upside, allowing for significant value to be added for the next owner. 529 W 74th Street presents an excellent opportunity for an owner-user or value add investor looking to capitalize on the rapidly growing South LA rental market with the ability to obtain favorable residential financing. South Los Angeles has seen steady growth over the past several years due to its relative housing affordability and convenient proximity to Downtown Los Angeles, Sofi Stadium, USC, Culver City, and South Bay. Rents in South LA have grown significantly over the past two years with average 2-bedroom market rents reaching$2,250-$2,350, a nearly 20% increase from2020. With low vacancy rates, landlord favored market conditions, and numerous employment options nearby, South LA is poised for significant long-term growth.
  1. Listed by Sagiv Rosano • DRE #01380809 • Brokerage DRE #01380809 • Rosano Partners

Property Details for 529 West 74th Street

Zoning
LAR3
Cross Streets
Florence Ave and Figueroa St
Parcel Number
6020025020
Total Units
4.0
Living Area
3461
Source Living Area
Assessor
Area
Metropolitan Southwest (C36)
Vacancy Rate
0

Location

Listing Courtesy of Rosano Partners, Sagiv Rosano, DRE #01380809

Sold By RE/MAX TIME REALTY, Katya Velasquez, DRE #01274909

Add your commute
LISTING UPDATED: 04/24/2023 02:12 PM

Property Details for 529 West 74th Street

StatusSold
MLS #22-204633
Days on Market165
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1908
Lot Size0.16 AC / 7,005 SF
CountyLos Angeles County

Location

Listing Courtesy of Rosano Partners, Sagiv Rosano, DRE #01380809

Sold By RE/MAX TIME REALTY, Katya Velasquez, DRE #01274909

Add your commute

Building Information for 529 West 74th Street

Stories1Residences-Year Built1908Building Size-Lot Size0.16 AC / 7,005 SF

Payment Calculator

$4,858 per month

30 year fixed, 7.25% Interest

Principal and Interest

$4,229

Property Taxes

$629

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 529 West 74th Street

Community / Development
Community / Development
  • Number Of Units: 4
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 1
  • Number Of Buildings: 2
  • Type Of Units: Apartment
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Entry Only
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $58,993
  • Net Operating Income: $37,461.00
  • Gross Income: $58,993
  • Cap Rate: 4.69%
  • Gross Rent Multiplier: $13.54
  • Actual Annual Gross Rent: $58,743.00
  • Actual Gross Annual Income: $58,993
  • Actual Rent Total: $58,743.00
  • Vacancy Allow Dollar: $1,770.00
  • Vacancy Allow Percent: 3.00%
  • Total Annual Expense: 19762
Land / Lot Info
Land / Lot Info
  • Alley: Yes
  • Lot Acreage: 0.1608
  • Lot Size Square Feet: 7005
  • Lot Features: Front Yard
  • Lot Description: Front Yard
  • Lot Location: Alley Access
Parking Details
Parking Details
  • Parking Garage: Driveway
  • Total Parking: 4
  • Open Other Spaces Total: 4
  • Parking Features: Driveway
Interior Features
Interior Features
  • Cooling: Wall/Window Unit(s)
  • Cooling Type: Wall/Window
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Flooring: Wood Laminate
  • Equipment: Built-Ins
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 09-30-2022
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,852.80
  • Unit Actual Rent: $1,852.80
  • Unit Projected Rent: $2,300.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $706.80
  • Unit Actual Rent: $706.80
  • Unit Projected Rent: $2,300.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $727.80
  • Unit Actual Rent: $727.80
  • Unit Projected Rent: $2,300.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,607.80
  • Unit Actual Rent: $1,607.80
  • Unit Projected Rent: $1,700.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109

Property History for 529 West 74th Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 529 West 74th Street

Taxable ValueLand$353,825Additions$225,161Total$578,986
Tax Record2023$7,550 ($629 / month)
Home Facts
Total Finished SqFt3,461 SqFtAbove Grade Finished SqFt3,461 SqFtLot Size7,005 SqFtStyleQuadraplexYear Built1908ZoningLAR3CountyLOS ANGELESAPN6020-025-020

Schools near 529 West 74th Street

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Public - 7 to 8
Public - 9 to 12
Charter - K to 4
Rating
School
Distance
Mary Mcleod Bethune Middle School
Public7 to 8

KIPP Empower Academy
CharterK to 4

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 Rosano Partners, Sagiv Rosano, DRE #01380809

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.