1631 East 88th Street

Los Angeles, CA 90002

$1,150,000
Price
6
Beds
3
Baths
2,023 Sq. Ft.
$568 / Sq. Ft.
2,023
Sq. Ft.
$568
per Sq. Ft.

Description

Introducing an excellent investment opportunity for real estate investors! This property, located at 1631 E 88th St ,1629 E 88th St, and 1629 1/2 E 88th St in Los Angeles, CA 90002, is currently generating an impressive monthly income of $8,650. Comprising a total of 6 bedrooms and 4 bathrooms, this property offers ample space for tenants. two of the unit's have their own electrical and water meters, providing convenience and flexibility for both the landlord and tenants. Situated in a desirable...Introducing an excellent investment opportunity for real estate investors! This property, located at 1631 E 88th St ,1629 E 88th St, and 1629 1/2 E 88th St in Los Angeles, CA 90002, is currently generating an impressive monthly income of $8,650. Comprising a total of 6 bedrooms and 4 bathrooms, this property offers ample space for tenants. two of the unit's have their own electrical and water meters, providing convenience and flexibility for both the landlord and tenants. Situated in a desirable location, this property presents a fantastic opportunity to expand your real estate portfolio. With its strong rental income potential, this investment promises a steady cash flow and a solid return on investment. Don't miss out on this lucrative deal!
  1. Listed by Monserrat Torres • DRE #01989089 • Brokerage DRE #01705557 • Ambiance Realty

Property Details for 1631 East 88th Street

Zoning
LCR2YY
Parcel Number
6044003030
Total Units
0.0
Living Area
2023
Source Living Area
Assessor
Area
Metropolitan South (C37)
Vacancy Rate
0
Lot Size Area
5591

Location

Listing Courtesy of Ambiance Realty, Monserrat Torres, DRE #01989089
Add your commute
LISTING UPDATED: 05/22/2024 12:01 AM

Property Details for 1631 East 88th Street

StatusActive
MLS #24-392091
Days on Market29
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1958
Lot Size0.13 AC / 5,591 SF
CountyLos Angeles County

Location

Listing Courtesy of Ambiance Realty, Monserrat Torres, DRE #01989089
Add your commute

Building Information for 1631 East 88th Street

Stories-Residences-Year Built1958Building Size-Lot Size0.13 AC / 5,591 SF

Payment Calculator

$7,136 per month

30 year fixed, 7.25% Interest

Principal and Interest

$6,276

Property Taxes

$860

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1631 East 88th Street

Community / Development
Community / Development
  • Number Of Units: 0
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 0
  • Number Of Buildings: 3
  • Type Of Units: 3
  • Water Heaters: Yes
  • Building Permit: Yes
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $8,850
  • Net Operating Income: $8,450.00
  • Gross Income: $8,850
  • Gross Rent Multiplier: $106,200.00
  • Total Annual Expense: 400
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1283
  • Lot Size Square Feet: 5591
Parking Details
Parking Details
  • Parking Garage: Driveway, Auto Driveway Gate
  • Total Parking: 0
  • Parking Features: Driveway, Auto Driveway Gate
Interior Features
Interior Features
  • Levels: One
  • Cooling Type: Other
  • Heating: Electric, Floor Furnace
  • Heating Type: Electric, Floor Furnace
  • Equipment: Dishwasher, Gas Dryer Hookup, Electric Dryer Hookup
  • Laundry: In Unit
  • Laundry Equipment: Own
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: Accessory Bldgs
Lease Terms
Lease Terms
  • Entry Date: 05-14-2024
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,550.00
  • Unit Actual Rent: $2,550.00
  • Unit Projected Rent: $2,600.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,700.00
  • Unit Actual Rent: $2,700.00
  • Unit Projected Rent: $2,800.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,650.00
  • Unit Actual Rent: $1,650.00
  • Unit Projected Rent: $1,650.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,950.00
  • Unit Actual Rent: $1,950.00
  • Unit Projected Rent: $2,100.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $255,000.00
  • Assessed Improvement Percent: 33.33
  • Assessed Land Value: $510,000.00
  • Assessed Land Percent: 66.67
  • Assessed Total Value: $765,000.00

Property History for 1631 East 88th 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 1631 East 88th Street

Taxable ValueLand$510,000Additions$255,000Total$765,000
Tax Record2023$10,314 ($860 / month)
Home Facts
Total Finished SqFt1,623 SqFtAbove Grade Finished SqFt1,623 SqFtLot Size5,591 SqFtStyleDuplexYear Built1958ZoningLCR2YYCountyLOS ANGELESAPN6044-003-030

Schools near 1631 East 88th 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
Judith F. Baca Arts Academy
PublicK to 6

Charles Drew Middle School
Public7 to 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.

Similar Homes

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Similar Sold Homes

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1631 East 88th Street is a multi-family home for sale in Los Angeles, CA 90002. This property was listed for sale on May 14, 2024 by Ambiance Realty, it's currently listed at $1,150,000. It has been on the market for a total of 29 days and was last sold on July 19, 2021. This listing's school district is Los Angeles Unified School District. Nearby schools include Judith F. Baca Arts Academy, Charles Drew Middle School and Academy For Multiligual Arts And Science At Mervyn M. Dymally High. 1631 East 88th Street is a 6-bed, 3-bath, 2,023 sqft multi-family home built in 1958.

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 Ambiance Realty, Monserrat Torres, DRE #01989089

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.