317 West 76th Street

Los Angeles, CA 90003

$975,000
Price
9
Beds
5
Baths
3,820 Sq. Ft.
$255 / Sq. Ft.
3,820
Sq. Ft.
$255
per Sq. Ft.

Description

We are pleased to present 317 W 76th St, a value add 5-unit apartment community located in the Florence neighborhood of South Los Angeles, CA. The property is comprised of an excellent unit mix of (4) 2 bed/1 Bath units and (1) 1 Bed/1 Bath unit. There are currently two Section 8 tenants in place (2 bed/ 1 bath) with one of them currently leased for $2,467. There are two units that are significantly below market, offering major upside upon turnover. Section 8 Voucher Payment Standards (per HACLA)...We are pleased to present 317 W 76th St, a value add 5-unit apartment community located in the Florence neighborhood of South Los Angeles, CA. The property is comprised of an excellent unit mix of (4) 2 bed/1 Bath units and (1) 1 Bed/1 Bath unit. There are currently two Section 8 tenants in place (2 bed/ 1 bath) with one of them currently leased for $2,467. There are two units that are significantly below market, offering major upside upon turnover. Section 8 Voucher Payment Standards (per HACLA) are currently up to $3,052 for 2-bedroom units as of 2/2024. The gated property also sits on a 5,880 square feet lot with rear and side alley access and parking for 4 vehicles.317 W 76th St is centrally located just 4 miles from USC and Downtown with convenient access to the 110 freeway and walkability to local amenities along Broadway and Florence Avenue. South Los Angeles has seen significant rent growth over the past several years due to its relative housing affordability and convenient proximity to Downtown Los Angeles, Sofi Stadium, USC, Culver City, and South Bay. Rents in South LA have grown significantly over the past few years with average 2-bedroom market rents reaching $2,300-$2,600 and Section 8 Voucher Payment Standards rising up to $3,052. With low vacancy rates, landlord-favored market conditions, and numerous employment options nearby, South LA is poised for significant long-term growth.
  1. Listed by Brandon Evans • DRE #02058494 • Brokerage DRE #01380809 • Rosano Partners

Property Details for 317 West 76th Street

Zoning
LAR2
Cross Streets
76th and Broadway
Parcel Number
6031010021
Total Units
5.0
Living Area
3820
Source Living Area
Assessor
Area
Metropolitan South (C37)
Vacancy Rate
0

Location

Listing Courtesy of Rosano Partners, Brandon Evans, DRE #02058494
Add your commute
LISTING UPDATED: 05/22/2024 12:01 AM

Property Details for 317 West 76th Street

StatusActive
MLS #24-391935
Days on Market29
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1964
Lot Size0.14 AC / 5,882 SF
CountyLos Angeles County

Location

Listing Courtesy of Rosano Partners, Brandon Evans, DRE #02058494
Add your commute

Building Information for 317 West 76th Street

Stories2Residences-Year Built1964Building Size-Lot Size0.14 AC / 5,882 SF

Payment Calculator

$6,163 per month

30 year fixed, 7.25% Interest

Principal and Interest

$5,321

Property Taxes

$842

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 317 West 76th Street

Community / Development
Community / Development
  • Number Of Units: 5
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Apartment
  • Security Features: Gated
  • Water: Public
  • Water Heaters: Yes
Contract Info
Contract Info
  • Probate: No
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $90,436
  • Net Operating Income: $53,986.00
  • Gross Income: $90,436
  • Cap Rate: 5.54%
  • Gross Rent Multiplier: $10.78
  • Actual Annual Gross Rent: $90,436.00
  • Actual Rent Total: $90,436.00
  • Vacancy Allow Dollar: $2,713.00
  • Vacancy Allow Percent: 3.00%
  • Total Annual Expense: 33737
Land / Lot Info
Land / Lot Info
  • Additional Parcel Number: No
  • Alley: Yes
  • Paved: Yes
  • Lot Acreage: 0.135
  • Lot Size Square Feet: 5882
Parking Details
Parking Details
  • Parking Garage: None
  • Total Parking: 4
  • Parking Features: None
Interior Features
Interior Features
  • Levels: Two
  • Cooling: Wall/Window Unit(s)
  • Cooling Type: Wall/Window
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Range/Oven
  • Common Walls: Attached
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 05-14-2024
  • Rent Control: Yes
  • Rent Control: 100
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,454.40
  • Unit Actual Rent: $5,817.50
  • Unit Projected Rent: $2,350.00
  • Like Units: 4
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,719.00
  • Unit Actual Rent: $1,719.00
  • Unit Projected Rent: $1,850.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107

Property History for 317 West 76th 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 317 West 76th Street

Taxable ValueLand$437,457Additions$328,093Total$765,550
Tax Record2023$10,103 ($842 / month)
Home Facts
Total Finished SqFt3,820 SqFtAbove Grade Finished SqFt3,820 SqFtLot Size5,880 SqFtStyleMulti-Family Res (5+ Units)Year Built1964ZoningLAR2CountyLOS ANGELESAPN6031-010-021

Schools near 317 West 76th Street

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Public - 7 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Seventy-Fifth Street Elementary School
PublicK to 6

Mary Mcleod Bethune Middle School
Public7 to 8

John C. Fremont Senior High School
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.

Similar Homes

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317 West 76th Street is a multi-family home for sale in Los Angeles, CA 90003. This property was listed for sale on May 14, 2024 by Rosano Partners, it's currently listed at $975,000. It has been on the market for a total of 29 days and was last sold on September 20, 2017. This listing's school district is Los Angeles Unified School District. Nearby schools include Seventy-Fifth Street Elementary School, Mary Mcleod Bethune Middle School and Academy For Multiligual Arts And Science At Mervyn M. Dymally High. 317 West 76th Street is a 9-bed, 5-bath, 3,820 sqft multi-family home built in 1964.

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 Rosano Partners, Brandon Evans, DRE #02058494

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.