837 West 42nd Place

Los Angeles, CA 90037

$1,995,000
Price
3
Beds
2
Baths
7,706 Sq. Ft.
$259 / Sq. Ft.
7,706
Sq. Ft.
$259
per Sq. Ft.

Description

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...

Property Details for 837 West 42nd Place

Zoning
RD2-1
Year Built Numeric
1924

Location

Listing Courtesy of Marcus & Millichap, Neema Ahadian, DRE #01346750

Property Details for 837 West 42nd Place

StatusActive
MLS #21-677576
Days on Market52
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1924
Lot Size0.16 AC / 7,050 SF
CountyLos Angeles County

Listing Agent

Neema Ahadian

Neema Ahadian

Marcus & Millichap

neema@marcusmillichap.com

P: 310.909.5444

M: 310.909.5448

DRE #01346750

Contact Agent(s)

Building Information for 837 West 42nd Place

Stories-Residences-Year Built1924Building Size-Lot Size0.16 AC / 7,050 SF

Payment Calculator

$6,686 per month

30 year fixed, 2.95% Interest

Principal and Interest

$6,686

Property Taxes

HOA Dues

$0

Similar Homes

Property Information for 837 West 42nd Place

Summary
    Location and General Information
  • 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
  • Parking Garage: None
  • Total Parking: 0
Property
    Property and Assessments
  • 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
    Lot Information
  • Area: Los Angeles Southwest (C34)
  • Lot Acreage: 0.1618
  • Other Structures: None
  • Service Level: Full Service
  • Living Area: 7706
  • Lot Size Area: 7050
Interior and Exterior Features
    Exterior Features
  • Water Heaters: Yes
    Interior Features
  • Baths Total: 10.0
  • Equipment: None
  • Number Of Stories: 0
  • Beds Total: 13
Multi Family
    Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Income: $170,184
  • Gross Operating Income: $161,675
  • Net Operating Income: $92,713.00
  • Total Annual Expense: 68962
    Unit Information
  • Type Of Units: Apartments
  • Unit Type Type: 2106, 2107
    Unit 1 Information
  • 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 2 Information
  • 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
Rental
    Rental Information
  • Vacancy Rate: 8509
  • Gross Rent Multiplier: $12.34
  • Number Of Buildings: 1
  • Number Of Units: 10

Property History for 837 W 42nd Pl

DateEvent & SourcePriceAppreciation
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
DateEvent & SourcePrice
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


SchoolTypeGradesDistanceRating
Menlo Avenue Elementary SchoolPublicK-50.1 mi
5
Manual Arts Senior High SchoolPublic9-120.3 mi
3
Global Education AcademyCharterK-50.3 mi
9
USC Hybrid High College PrepCharter9-120.5 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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837 West 42nd Place is a multi-family home for sale in Los Angeles, CA 90037. This property was listed for sale on January 7, 2021 by Marcus & Millichap at $1,995,000. It has been on the market for a total of 53 days and was last sold on August 7, 2015. This listing's school district is Los Angeles Unified School District. Nearby schools include Teach Academy Of Technologies, Math, Science, & Technology Magnet Academy At Roosevelt High and Humanitas Academy Of Art And Technology At Esteban E. Torres High No. 4. 837 West 42nd Place is a 3-bed, 2-bath, 7,706 sqft multi-family home built in 1924. This address can also be written as 837 W 42nd Pl.

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.