974 West Kensington Road
974 West Kensington Road
Closed 12/1/23
Closed 12/1/23
Description
entertainment. Vintage 60's vibe and design with solid wood cabinets, wall heaters and individual wall A/C
units. Building is well maintained but retains the original 60's ambiance. The property is subject...Gross rent multiplier of 10 based on marget rents in as-is condition and 16.4 based on existing rents. The property is located on a quiet street in Angelino Heights adjacent to Echo Park and Dodger Stadium. Easy commute to Downtown LA, Hollywood and the Miracle Mile. Close to shopping, restaurants and
entertainment. Vintage 60's vibe and design with solid wood cabinets, wall heaters and individual wall A/C
units. Building is well maintained but retains the original 60's ambiance. The property is subject to the LA Rent Stabilization Ordinance. Which in conjunction with COVID
restrictions has resulted in rents well below market. The property has been managed by the owner who resides nearby and takes pride in the property. Significant management upside when COVID restrictions expire. Rents are currently below market, however, the moratorium on rental increases is currently expected to expire in January of 2024. Existing Rents average $1,128/mo. /unit while Market rents are estimated to be $1,850/ mo. in as-is condition and $2,500/mo. /unit if the units are renovated. Gross Income, Expenses, NOI and Cap Rate reflect estimated market rents and expenses in as-is condition. Rent collected in 2021 was $115,387. It may be possible to convert the existing carports, storage room and laundry room into 2 ADU's. Buyer to investigate the feasibility of the conversion. This is a great opportunity for either a first time or
experienced multi-family investor to acquire a fairly
priced, well located property with the potential for
significant upside in rent and value. Drive by only. Please do not enter the property or otherwise disturb
the tenants. Please submit all offers for consideration by the Seller.
- Listed by Donald Hinton • DRE #00575959 • Engel & Voelkers La Canada
Property Details for 974 West Kensington Road
Location
Sold By Figure 8 Realty, Nicholas Fichera, DRE #01932217
Property Details for 974 West Kensington Road
| Status | Closed |
|---|---|
| MLS # | P1-13746 |
| Days on Market | 143 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income / Apartment |
| Year Built | 1961 |
| County | Los Angeles County |
Location
Sold By Figure 8 Realty, Nicholas Fichera, DRE #01932217
Building Information for 974 West Kensington Road
Payment Calculator
$13,074 per month
30 year fixed, 7.25% Interest
$11,461
$1,613
$0
Property Information for 974 West Kensington Road
- Building Area Total: 5,484.00
- Community Features: Curbs
- City: Los Angeles
- Country: US
- Direction Faces: Southwest
- Directions: South of Sunset Blvd.
- Area: C21 - Silver Lake - Echo Park
- Postal Code Plus4: 4338
- Road Surface Type: Paved
- Unparsed Address: 974 West Kensington Road, Los Angeles, CA 90026
- Parking Features: Off Street, On Site, Uncovered, Assigned, Attached Carport
- Association Fee: $.00
- Tax Other Annual Assessment Amount: $.00
- Videos Count: 0
- Additional Parcels: No
- Lot Features: Sprinklers, Garden
- Lot Size Acres: .22
- Lot Size Square Feet: 9,377.00
- Lot Size Area: 9,377.00
- Lot Size Units: Square Feet
- Parcel Number: 5405004016
- Road Frontage Type: City Street
- Zoning: LARD2
- Property Type: Residential Income
- Property Sub Type: Apartment
- Common Walls: 2+ Common Walls
- Documents Count: 0
- Entry Level: 1
- Entry Location: ground floor and stairs to second floor.
- New Construction: No
- Property Attached: Yes
- Year Built Source: Public Records
- Senior Community: No
- Cooling: Electric, Wall/Window Unit(s)
- Cooling: Yes
- Electric: Standard
- Sewer: Sewer Paid
- Utilities: Electricity Connected, Water Connected, Sewer Connected, Natural Gas Connected
- Water Sewer Expense: $.00
- Water Source: Public
- Construction Materials: Plaster, Stucco, Drywall Walls
- Foundation Details: Slab
- Pool Features: None
- Pool Private: No
- Roof: Shingle, Membrane, Mixed
- Spa Features: None
- Spa: No
- Stories Total: 2
- Appliances: Refrigerator, Gas Water Heater, Gas Range, Gas Oven
- Total Bathrooms: 0
- Fireplace Features: None
- Fireplace: No
- Flooring: Carpet, Vinyl
- Heating: Wall Furnace
- Heating: Yes
- Interior Features: Copper Plumbing Full, Ceramic Counters, Ceiling Fan(s)
- Laundry Features: Community
- Living Area: 5,484.00
- View: No
- Levels: Two
- Gross Scheduled Income: $222,000.00
- Net Operating Income: $159,092.00
- Electric Expense: $.00
- Insurance Expense: $.00
- Number Of Buildings: 1
- Operating Expense: $58,468.00
- Special Listing Conditions: Standard, Trust
- Trash Expense: $.00
- Inclusions: 10 stoves, 10 refrigerators and coin operated washer and dryer.
- Tenant Pays: Electricity, Gas
Property History for 974 West Kensington Road
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 974 West Kensington Road
Schools near 974 West Kensington Road
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 8 | |||
| Public - | 9 to 12 | |||
| Public - | 9 to 12 | |||
| Public - | 9 to 12 |
Rating | School | Distance |
|---|---|---|
Logan Academy of Global Ecology PublicK to 8 | ||
Belmont Senior High School Public9 to 12 | ||
Miguel Contreras Learning Complex School Public9 to 12 | ||
Contreras Learning Center-School Of Social Justice Public9 to 12 |
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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Listing Courtesy of Engel & Voelkers La Canada, Donald Hinton, DRE #00575959
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.