6363 Cedar Street

Huntington Park, CA 90255

$1,950,000
Price
14
Beds
7
Baths
6,912 Sq. Ft.
$282 / Sq. Ft.
6,912
Sq. Ft.
$282
per Sq. Ft.

Description

7-unit apartment building located in a quiet residential neighborhood of Huntington Park, CA. Seller may consider carrying financing for a qualified buyer. Terms and rate to be determined. Consisting entirely of spacious 2-bedroom 1 bath (& 1.5 bath) units averaging 987 square feet each, this well-maintained property presents a clear value-add opportunity, with at least 20% rental upside and without the constraints of city rent control. The property is only subject to AB1482 (allowing for 8.8% rent...7-unit apartment building located in a quiet residential neighborhood of Huntington Park, CA. Seller may consider carrying financing for a qualified buyer. Terms and rate to be determined. Consisting entirely of spacious 2-bedroom 1 bath (& 1.5 bath) units averaging 987 square feet each, this well-maintained property presents a clear value-add opportunity, with at least 20% rental upside and without the constraints of city rent control. The property is only subject to AB1482 (allowing for 8.8% rent increases annually). The building is separately metered for gas, electricity, and hot water. There are 8 garage parking spaces, providing 1 space per unit and two for the "master" unit. The master unit and unit A are both 2-story townhouses. Some of the building's renovations include a new roof in 2019, new 100 gallon water heater (and circulating pump) in 2019, and plumbing re-piping in 1999. Located about a half mile from Pacific Boulevard, the city's primary shopping mecca, 6363 Cedar Street offers a variety of retail, dining, and schools within minutes.
  1. Listed by Darin Spillman • DRE #01366902 • Brokerage DRE #01001040 • Kidder Mathews of California, Inc.

Property Details for 6363 Cedar Street

Zoning
HPR3YY
Parcel Number
6319007019
Total Units
7.0
Living Area
6912
Source Living Area
Assessor
Area
Vernon, Maywood, Hunt Pk & Bell, N of Florence, W of 710
Vacancy Rate
0
Lot Size Area
7172

Location

Listing Courtesy of Kidder Mathews of California, Inc., Darin Spillman, DRE #01366902
Add your commute
LISTING UPDATED: 04/18/2024 12:34 PM

Property Details for 6363 Cedar Street

StatusPending
MLS #24-362771
Days on Market51
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1963
Lot Size0.16 AC / 7,172 SF
CountyLos Angeles County

Location

Listing Courtesy of Kidder Mathews of California, Inc., Darin Spillman, DRE #01366902
Add your commute

Building Information for 6363 Cedar Street

Stories2Residences-Year Built1963Building Size-Lot Size0.16 AC / 7,172 SF

Payment Calculator

$13,049 per month

30 year fixed, 7.25% Interest

Principal and Interest

$10,642

Property Taxes

$2,407

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 6363 Cedar Street

Community / Development
Community / Development
  • Number Of Units: 7
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: apartment
  • Water Heaters: Yes
Contract Info
Contract Info
  • Probate: No
  • Financing: Owner May Carry
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $154,679
  • Net Operating Income: $93,027.00
  • Gross Income: $157,836
  • Cap Rate: 4.80%
  • Gross Rent Multiplier: $12.40
  • Actual Annual Gross Rent: $157,836.00
  • Actual Rent Total: $157,836.00
  • Vacancy Allow Dollar: $3,156.00
  • Vacancy Allow Percent: 2.00%
  • Total Annual Expense: 61651
Land / Lot Info
Land / Lot Info
  • Additional Parcel Number: No
  • Lot Acreage: 0.1646
  • Lot Size Square Feet: 7172
  • Lot Description: 5 + Lots
  • Lot Location: Alley Access
Parking Details
Parking Details
  • Parking Garage: Garage Is Attached
  • Total Parking: 8
  • Covered Parking: 8
  • Garage Spaces Total: 8
  • Attached Garage: Yes
  • Garage Structures Total: 1.0
Interior Features
Interior Features
  • Levels: Multi/Split
  • Cooling: Wall/Window Unit(s)
  • Cooling Type: Wall/Window
  • Heating: Natural Gas
  • Heating Type: Natural Gas
  • Equipment: Range/Oven
  • Laundry: Room
Exterior Features
Exterior Features
  • New Construction: No
  • Construction Materials: Frame
  • Exterior Construction: Frame
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 02-27-2024
  • Rent Control: No
  • Tenant Pays: Electricity, Gas
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,798.00
  • Unit Actual Rent: $8,990.00
  • Unit Projected Rent: $8,990.00
  • Like Units: 5
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $1,952.50
  • Unit Actual Rent: $3,905.00
  • Unit Projected Rent: $3,905.00
  • Like Units: 2
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $1,287,966.00
  • Assessed Improvement Percent: 70.0
  • Assessed Land Value: $551,867.00
  • Assessed Land Percent: 30
  • Assessed Total Value: $1,839,833.00

Property History for 6363 Cedar 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 6363 Cedar Street

Taxable ValueLand$562,904Additions$1,314,025Total$1,876,929
Tax Record2023$28,881 ($2,407 / month)
Home Facts
Total Finished SqFt6,912 SqFtAbove Grade Finished SqFt6,912 SqFtLot Size7,172 SqFtStyleMulti-Family Res (5+ Units)Year Built1963ZoningHPR3YYCountyLOS ANGELESAPN6319-007-019

Schools near 6363 Cedar Street

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
Public - 9 to 12
Rating
School
Distance
San Antonio Elementary School
PublicK to 5

Henry T. Gage Middle School
Public6 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 Kidder Mathews of California, Inc., Darin Spillman, DRE #01366902

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.