6215 3rd Avenue

Los Angeles, CA 90043

$815,000
Last Sold Price
8
Beds
4
Baths
3,120 Sq. Ft.
$261 / Sq. Ft.
3,120
Sq. Ft.
$261
per Sq. Ft.

Description

PART OF A 2 BUILDING PORTFOLIO - sold together with adjacent lot 6223 3rd Ave for $1,750,000 total (2 fourplexes - 8 total units). We're pleased to present an extremely rare investment opportunity in the heart of LA's Hyde Park Neighborhood, less than 3 miles from SoFi Stadium. The 6215-6223 3rd Ave package consists of two (2) detached 3,120 SF fourplexes (both LAR3 Zoning) on two (2) adjacent lots totaling 0.32 AC of land, conveniently positioned on the corner of Hyde Park Blvd & 3rd Ave. Built...PART OF A 2 BUILDING PORTFOLIO - sold together with adjacent lot 6223 3rd Ave for $1,750,000 total (2 fourplexes - 8 total units). We're pleased to present an extremely rare investment opportunity in the heart of LA's Hyde Park Neighborhood, less than 3 miles from SoFi Stadium. The 6215-6223 3rd Ave package consists of two (2) detached 3,120 SF fourplexes (both LAR3 Zoning) on two (2) adjacent lots totaling 0.32 AC of land, conveniently positioned on the corner of Hyde Park Blvd & 3rd Ave. Built in 1950 & 1952 respectively, the buildings feature eight (8) 2+1 units, each separately metered, with attractive corner lot curb appeal, a large center courtyard, and ample parking within the property gates, including 7 garage spaces with ADU potential (+10 additional on-site tandem spaces). 6 out of 8 units only have minor interior updates, creating plenty of value-add potential. This package offers an excellent opportunity for any investor to capitalize on over 80% in rental upside, including an upcoming allowable rent increase of up to 7% beginning Feb 1, 2024.
  1. Listed by Andrew Malekie • DRE #02153774 • Brokerage DRE #01237359 • Link Brokerages
  2. Listed by DRE #01998822 • Brokerage DRE #01237359 • Link Brokerages

Property Details for 6215 3rd Avenue

Zoning
LAR3
Parcel Number
4007015014
Total Units
4.0
Living Area
3120
Source Living Area
Vendor Enhanced
Area
Park Hills Heights (PHHT)
Vacancy Rate
0
Lot Size Area
4801

Location

Listing Courtesy of Link Brokerages, Andrew Malekie, DRE #02153774; Link Brokerages, DRE #01998822

Sold By Non-Participant Office, Subscriber Non, DRE #13252

Add your commute
LISTING UPDATED: 04/04/2024 09:49 PM

Property Details for 6215 3rd Avenue

StatusSold
MLS #23-327041
Days on Market83
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1950
Lot Size0.11 AC / 4,801 SF
CountyLos Angeles County

Location

Listing Courtesy of Link Brokerages, Andrew Malekie, DRE #02153774; Link Brokerages, DRE #01998822

Sold By Non-Participant Office, Subscriber Non, DRE #13252

Add your commute

Building Information for 6215 3rd Avenue

Stories2Residences-Year Built1950Building Size-Lot Size0.11 AC / 4,801 SF

Payment Calculator

$4,945 per month

30 year fixed, 7.25% Interest

Principal and Interest

$4,448

Property Taxes

$497

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 6215 3rd 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: Apartment
Contract Info
Contract Info
  • Financing: Cash
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $61,956
  • Net Operating Income: $32,191.00
  • Gross Income: $61,956
  • Gross Rent Multiplier: $15.74
  • Total Annual Expense: 27400
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1102
  • Lot Size Square Feet: 4801
Parking Details
Parking Details
  • Parking Garage: Detached, Oversized, Garage, Tandem, Gated
  • Total Parking: 7
  • Parking Features: Oversized, Garage, Tandem Garage, Gated
  • Attached Garage: No
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Window Unit(s)
  • Heating Type: Other
  • Equipment: Cable, Dishwasher, Microwave, Refrigerator, Range/Oven
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 10-31-2023
  • Tenant Pays: Electricity, Water
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $2,600.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $2,600.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $2,600.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $2,600.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $142,025.00
  • Assessed Improvement Percent: 31.03
  • Assessed Land Value: $315,620.00
  • Assessed Land Percent: 68.97
  • Assessed Total Value: $457,645.00

Property History for 6215 3rd 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 6215 3rd Avenue

Taxable ValueLand$315,620Additions$142,025Total$457,645
Tax Record2023$5,962 ($497 / month)
Home Facts
Total Finished SqFt3,120 SqFtAbove Grade Finished SqFt3,120 SqFtLot Size4,799 SqFtStyleQuadraplexYear Built1950ZoningLAR3CountyLOS ANGELESAPN4007-015-014

Schools near 6215 3rd Avenue

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 - 9 to 12
Rating
School
Distance
Fifty-Ninth Street Elementary School
PublicK to 5

Alliance Leadership Middle Academy
Charter6 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.

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 Link Brokerages, Andrew Malekie, DRE #02153774; Link Brokerages, DRE #01998822

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.