5831 Virginia Avenue

Los Angeles, CA 90038

$1,599,000
Price
10
Beds
6
Baths
5,050 Sq. Ft.
$317 / Sq. Ft.
5,050
Sq. Ft.
$317
per Sq. Ft.

Property Details for 5831 Virginia Avenue

StatusExpired
MLS #19456218
Year Built1959
DOM115
Compass TypeMulti Family
MLS TypeResidential Income / Apartment Building
Lot Size0.17 AC / 7,499 SF
Taxes-
Condo/Co-op Fees-
HOA Fees-
CountyLos Angeles County

Listing Agent

Contact Agent(s)

Property Details for 5831 Virginia Avenue

Area
Hollywood (C20)
Parking Spaces Total
8
Pool
No
Cooling Type
Other

Description

The subject property is a six-unit apartment complex-duplex + fourplex-built in 1959 and located in the Hollywood submarket of Los Angeles. Ideally situated on Virginia Avenue, just north of Santa Monica Blvd between Gower and Wilton, these units average nearly 850 sf each. The improvements are built on a 7,499 square foot lot with a total rentable square footage of 5,050. There are 8 on-site parking spaces as well as on-site laundry. Each well-maintained unit is individually metered for gas and... electricity. Development potential is also an option. The property is zoned R3-1, allowing for 9 units, by right. The lot is recognized as Tier 2 under the new TOC Guidelines under Section 6 of Measure JJJ. This allows for a 60% density bonus and less restrictive parking requirements (1 space/ dwelling). With the density bonus, the number of buildable units potentially increases to 15. Loan assumption at 4.3% IO fixed until 2023. Contact LA1 for details.

Location

Listing Courtesy of Compass, Zach Krasman, DRE #01814990

Listing Agent

  1. Zach Krasman

    Listing Agent

    Compass

    DRE #01814990

Building Information for 5831 Virginia Avenue

Stories2Residences6Year Built1959Building Size-Lot Size0.17 AC / 7,499 SF

Payment Calculator

$5,751 per month

30 year fixed, 3.51% Interest

Principal and Interest

$5,751

Property Taxes

HOA Dues

$0

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Property Information for 5831 Virginia Avenue

Property Features
    Interior Features
  • Heating: Other
  • Interior Features: Other
    Parking Info
  • Parking Features: Unassigned
Community/Development / Location Info
    School/Location Info
  • County: Los Angeles
  • Driving Directions: Virginia Ave btwn Bronson and Wilton
    Association Information
  • Association/HOA: No
Income / Expense / Tax / Assessment Details
    Income Details
  • Adjusted Gross Income: $109,491
  • Cap Rate: 4.14
  • Gross Operating Income: $106,206
  • Gross Rent Multiplier: 14.6
  • Net Operating Income: $66,141
    Expense Details
  • Expense Total Annual: $40,066
    Assessment Info
  • Assessed Improvement Value: $528,122
  • Assessed Land Value: $728,808
Land/Lot Info
    Land/Lot Info
  • Lot Size Source: Public Records
  • Lot Size SQFT: 7499
  • Tax Parcel Number: 5534018006
  • Zoning: LAR3
Structure Info
    Structure Info
  • Units Total In Complex: 6
  • Number Of Buildings: 2
  • Property Sub Type: Apartment Building
  • Property Type: Residential Income
  • Square Footage Source: Public Records
  • Total Floors: 2
  • Year Built: 1959
Unit Information
    Unit 1 Info
  • Unit Furnished 1: Unfurnished
  • Unit Monthly Rent 1: $984
  • Unit Number Of Bath 1: 1.0
  • Unit Number Of Bed 1: 1.0
  • Unit Projected Total Monthly Rent 1: $1,950
  • Unit Total Monthly Rent 1: $984
  • Unit Type 1: 1.0
    Unit 2 Info
  • Unit Furnished 2: Unfurnished
  • Unit Monthly Rent 2: $1,850
  • Unit Number Of Bath 2: 1.0
  • Unit Number Of Bed 2: 2.0
  • Unit Projected Total Monthly Rent 2: $2,500
  • Unit Total Monthly Rent 2: $1,850
  • Unit Type 2: 1.0
    Unit 3 Info
  • Unit Furnished 3: Unfurnished
  • Unit Monthly Rent 3: $1,545
  • Unit Number Of Bath 3: 1.0
  • Unit Number Of Bed 3: 1.0
  • Unit Projected Total Monthly Rent 3: $1,950
  • Unit Total Monthly Rent 3: $1,545
  • Unit Type 3: 1.0
    Unit 4 Info
  • Unit Furnished 4: Unfurnished
  • Unit Monthly Rent 4: $1,850
  • Unit Number Of Bath 4: 1.0
  • Unit Number Of Bed 4: 2.0
  • Unit Projected Total Monthly Rent 4: $2,500
  • Unit Total Monthly Rent 4: $1,850
  • Unit Type 4: 1.0
    Unit 5 Info
  • Unit Furnished 5: Unfurnished
  • Unit Monthly Rent 5: $900
  • Unit Number Of Bath 5: 1.0
  • Unit Number Of Bed 5: 2.0
  • Unit Projected Total Monthly Rent 5: $2,500
  • Unit Total Monthly Rent 5: $900
  • Unit Type 5: 1.0
    Unit 6 Info
  • Unit Furnished 6: Unfurnished
  • Unit Monthly Rent 6: $1,895
  • Unit Number Of Bath 6: 1.0
  • Unit Number Of Bed 6: 2.0
  • Unit Projected Total Monthly Rent 6: $2,500
  • Unit Total Monthly Rent 6: $1,895
    Unit 7 Info
  • Unit Furnished 7: Partially
    Unit 8 Info
  • Unit Furnished 8: Partially
    Unit 9 Info
  • Unit Furnished 9: Partially
    Unit 10 Info
  • Unit Furnished 10: Partially
    Unit 11 Info
  • Unit Furnished 11: Partially
    Unit 12 Info
  • Unit Furnished 12: Partially
    Unit 13 Info
  • Unit Furnished 13: Partially

Property History for 5831 Virginia Avenue

DateEvent & SourcePriceAppreciation
Aug 10, 2019Expired

CARETS #19456218

$1,599,000
May 14, 2019Accepting Backup Offers

CARETS #19456218

Apr 17, 2019Withdrawn / Cancelled

CARETS #19426780

DateEvent & SourcePrice
08/10/2019
Expired

CARETS #19456218

$1,599,000
05/14/2019
Accepting Backup Offers

CARETS #19456218

04/17/2019
Withdrawn / Cancelled

CARETS #19426780

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

Public Records for 5831 Virginia Avenue

Taxable ValueLand$511,747Additions$323,209Total$834,956
Tax Record2018$10,904
Home Facts
Beds8Finished Sq.Ft.5,050 SqFtLot Size7,500 SqFtStyleMulti-Family Res (5+ Units)Year Built1959ZoningLAR3CountyLOS ANGELESAPN5534018006

Schools near 5831 Virginia Avenue

AllElementaryMiddleHigh
SchoolTypeGradesDistanceRating
Santa Monica Boulevard Community Charter SchoolCharterK-60.2 mi
5
Joseph Le Conte Middle SchoolPublic6-80.2 mi
3
Richard A. Alonzo Community Day SchoolPublic7-120.2 mi
NR
Citizens of the World Charter School HollywoodCharterK-80.2 mi
8

Santa Monica Boulevard Community Charter School

K-6, 0.2 mi, Charter

5

Joseph Le Conte Middle School

6-8, 0.2 mi, Public

3

Richard A. Alonzo Community Day School

7-12, 0.2 mi, Public

NR

Citizens of the World Charter School Hollywood

K-8, 0.2 mi, Charter

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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All data, including all measurements and calculations of area, is obtained from various sources, is approximate, and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of such measurements and Compass expressly disclaims any liability in connection with such measurements.
Listing Courtesy of Compass, Zach Krasman, DRE #01814990
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