837 West 42nd Place
Description
Property Details for 837 West 42nd Place
Location
Property Details for 837 West 42nd Place
| Status | Active |
|---|---|
| MLS # | 21-677576 |
| Days on Market | 52 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1924 |
| Lot Size | 0.16 AC / 7,050 SF |
| County | Los Angeles County |
Listing Agent
Contact Agent(s)
Building Information for 837 West 42nd Place
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$6,686 per month
30 year fixed, 2.95% Interest
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Property Information for 837 West 42nd Place
- Directions: located in South Los Angeles between W Vernon Ave & W Martin Luther King Blvd just south of Exposition Park & USC
- Year Built Source: Vendor Enhanced
- Zip 4: 2508
- City: Los Angeles
- Zip Code: 90037
- County Or Parish: Los Angeles
- Street Number Numeric: 837
- Street Direction Prefix: W
- Street Name: 42Nd
- State: CA
- Parking Garage: None
- Total Parking: 0
- Assessed Improvement Percent: 23.3
- Assessed Improvement Value: $263,425.00
- Assessed Land Percent: 76.7
- Assessed Land Value: $867,000.00
- Assessed Total Value: $1,130,425.00
- Assessor Parcel Number: 5019-005-014
- Advertising Remarks: Built in 1927, this 10-unit property totals 7,706 SF and is located in South Los Angeles between W Vernon Ave & W Martin Luther King Blvd just south of Exposition Park & USC, a location providing easy access to Metro Expo Line, the 110 Freeway, and Downtown Los Angeles nightlife, entertainment, restaurants, and employment opportunities.This value-add investment present the investor an opportunity to capture a 19% loss-to-lease, that can achieve a pro forma CAP rate of 6.51% through further renovations when the units turn. The building features a unit mix of 7 one-bedrooms and 3 two-bedrooms, each of the units have dual entrances.The property is being offered at a 11.70 GRM and 4.73% CAP rate on current income. Ease of management as gas and electric are separately metered.Vermont Square is a fast growing, vibrant neighborhood, just southwest of Downtown Los Angeles.
- Disclosures: None
- Source Living Area: Vendor Enhanced
- Source Lot Size Area: Vendor Enhanced
- Number Of Photos: 6
- Area: Los Angeles Southwest (C34)
- Lot Acreage: 0.1618
- Other Structures: None
- Service Level: Full Service
- Living Area: 7706
- Lot Size Area: 7050
- Water Heaters: Yes
- Baths Total: 10.0
- Equipment: None
- Number Of Stories: 0
- Beds Total: 13
- Scheduled Actual: Actual
- Gross Income: $170,184
- Gross Operating Income: $161,675
- Net Operating Income: $92,713.00
- Total Annual Expense: 68962
- Type Of Units: Apartments
- Unit Type Type: 2106, 2107
- Unit Beds1: 1
- Unit Baths1: 1
- Unit Projected Rent1: $11,200.00
- Unit Actual Rent1: $9,363.00
- Unit Furnished1: No
- Like Units1: 7
- Unit Rent1: $1,338.00
- Unit Projected Rent2: $4,819.00
- Unit Furnished2: No
- Like Units2: 3
- Unit Rent2: $1,606.00
- Unit Beds2: 2
- Unit Baths2: 1
- Unit Actual Rent2: $6,300.00
- Vacancy Rate: 8509
- Gross Rent Multiplier: $12.34
- Number Of Buildings: 1
- Number Of Units: 10
Property History for 837 W 42nd Pl
| Date | Event & Source | Price | Appreciation |
|---|---|---|---|
| Feb 18, 2021 | Price Change CRMLS #21677576 | $1,995,000 | — |
| Feb 18, 2021 | Price Change CLAW #21-677576 | $1,995,000 | — |
| Jan 7, 2021 | Listed (Active) CRMLS #21677576 | $2,100,000 | — |
| Date | Event & Source | Price |
|---|---|---|
| 02/18/2021 | Price Change CRMLS #21677576 | $1,995,000 |
| 02/18/2021 | Price Change CLAW #21-677576 | $1,995,000 |
| 01/07/2021 | Listed (Active) CRMLS #21677576 | $2,100,000 |
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Schools near 837 West 42nd Place
| School | Type | Grades | Distance | Rating |
|---|---|---|---|---|
| Menlo Avenue Elementary School | Public | K-5 | 0.1 mi | 5 |
| Manual Arts Senior High School | Public | 9-12 | 0.3 mi | 3 |
| Global Education Academy | Charter | K-5 | 0.3 mi | 9 |
| USC Hybrid High College Prep | Charter | 9-12 | 0.5 mi | 8 |
Menlo Avenue Elementary School K-5, 0.1 mi, Public | 5 |
Manual Arts Senior High School 9-12, 0.3 mi, Public | 3 |
Global Education Academy K-5, 0.3 mi, Charter | 9 |
USC Hybrid High College Prep 9-12, 0.5 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 Marcus & Millichap, Neema Ahadian, DRE #01346750
Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, 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, 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.