650 South La Jolla Avenue

Los Angeles, CA 90048

$4,450,000
Price
10
Beds
10
Baths
10,858 Sq. Ft.
$410 / Sq. Ft.
10,858
Sq. Ft.
$410
per Sq. Ft.

Description

650 S La Jolla Avenue is a 10-unit multi-family apartment complex featuring 1,100sq. ft. units, each equipped with a private balcony/patio, in-unit washer and dryers, central heating, and parking. The seller has RTI permits for two 1bd/1bth ADUs through a carport conversion. Upon completion of the ADUs, the property will have a 13x GRM and an in-place 5.4% cap rate, with a 30% upside in existing unit rents. The building features a new 400amp main panel. Each unit is separately metered for electricity...650 S La Jolla Avenue is a 10-unit multi-family apartment complex featuring 1,100sq. ft. units, each equipped with a private balcony/patio, in-unit washer and dryers, central heating, and parking. The seller has RTI permits for two 1bd/1bth ADUs through a carport conversion. Upon completion of the ADUs, the property will have a 13x GRM and an in-place 5.4% cap rate, with a 30% upside in existing unit rents. The building features a new 400amp main panel. Each unit is separately metered for electricity and gas.
  1. Listed by Adam Kanizo • DRE #02008361 • Brokerage DRE #01891656 • Paloma Realty Partners, Inc.

Property Details for 650 South La Jolla Avenue

Zoning
LAR3
Parcel Number
5510028013
Total Units
10.0
Living Area
10858
Source Living Area
Vendor Enhanced
Area
Beverly Center-Miracle Mile (C19)
Vacancy Rate
0
Lot Size Area
12504

Location

Listing Courtesy of Paloma Realty Partners, Inc., Adam Kanizo, DRE #02008361
Add your commute
LISTING UPDATED: 04/03/2024 12:01 AM

Property Details for 650 South La Jolla Avenue

StatusActive
MLS #24-371201
Days on Market68
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1928
Lot Size0.29 AC / 12,504 SF
CountyLos Angeles County

Location

Listing Courtesy of Paloma Realty Partners, Inc., Adam Kanizo, DRE #02008361
Add your commute

Building Information for 650 South La Jolla Avenue

Stories-Residences-Year Built1928Building Size-Lot Size0.29 AC / 12,504 SF

Payment Calculator

$28,468 per month

30 year fixed, 7.25% Interest

Principal and Interest

$24,285

Property Taxes

$4,183

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 650 South La Jolla Avenue

Community / Development
Community / Development
  • Number Of Units: 10
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 0
  • Number Of Buildings: 1
  • Type Of Units: Apartments
  • Security Features: Automatic Gate, Gated, Smoke Detector
  • Sewer: In Street
  • Water Heaters: Yes
  • Water Heater Features: Central Water Heater
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $267,196
  • Net Operating Income: $191,155.00
  • Gross Income: $275,460
  • Cap Rate: 4.30%
  • Gross Rent Multiplier: $16.00
  • Actual Annual Gross Rent: $275,460.00
  • Vacancy Allow Percent: 3.00%
  • Owner Pays: Water, Gardener
  • Total Annual Expense: 76041
  • Expense Operating Percent: $28.00
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.2871
  • Lot Size Square Feet: 12504
  • Lot Description: 2-4 Lots
Parking Details
Parking Details
  • Parking Garage: Carport
  • Total Parking: 10
  • Carport Spaces Total: 10
  • Parking Features: Carport
Interior Features
Interior Features
  • Levels: Multi/Split
  • Cooling Type: Window Unit(s)
  • Heating: Central
  • Heating Type: Central
  • Flooring: Wood
  • Equipment: Dryer, Gas Or Electric Dryer Hookup, Stackable W/D Hookup, Refrigerator, Range/Oven, Freezer, Washer
  • Cooking Appliances: Built-In Gas
  • Laundry: In Unit
  • Laundry Equipment: Own
Exterior Features
Exterior Features
  • Door Features: Double Door Entry
  • New Construction: No
  • Other Structural Features: Balcony, Double Door Entry
  • Other Structures: Other
Lease Terms
Lease Terms
  • Entry Date: 03-26-2024
  • Rent Control: Yes
  • Rent Control: 100
  • Tenant Pays: Gas, Electricity
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,296.00
  • Unit Actual Rent: $22,955.00
  • Unit Projected Rent: $33,450.00
  • Like Units: 10
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $5,500.00
  • Like Units: 2
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Tax Percent: 1.20%
  • Assessed Improvement Value: $1,208,700.00
  • Assessed Improvement Percent: 30.0
  • Assessed Land Value: $2,820,300.00
  • Assessed Land Percent: 70
  • Assessed Total Value: $4,029,000.00

Property History for 650 South La Jolla Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 650 South La Jolla Avenue

Taxable ValueLand$2,820,300Additions$1,211,900Total$4,032,200
Tax Record2023$50,195 ($4,183 / month)
Home Facts
Total Finished SqFt10,858 SqFtAbove Grade Finished SqFt10,858 SqFtLot Size12,501 SqFtStyleMulti-Family Res (5+ Units)Year Built1928ZoningLAR3CountyLOS ANGELESAPN5510-028-013

Schools near 650 South La Jolla Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Charter - 6 to 12
Public - 9 to 12
Public - K to 5
Rating
School
Distance
Hancock Park Elementary School
PublicK to 5

Aspire Pacific Academy
Charter6 to 12

Fairfax 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.

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650 South La Jolla Avenue is a multi-family home for sale in Los Angeles, CA 90048. This property was listed for sale on March 26, 2024 by Paloma Realty Partners, Inc., it's currently listed at $4,450,000. It has been on the market for a total of 68 days and was last sold on March 18, 2022. This listing's school district is Los Angeles Unified School District. Nearby schools include Hancock Park Elementary School, Aspire Pacific Academy and Fairfax Senior High School. 650 South La Jolla Avenue is a 10-bed, 10-bath, 10,858 sqft multi-family home built in 1928.

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 Paloma Realty Partners, Inc., Adam Kanizo, DRE #02008361

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.