1215 Elden Avenue

Los Angeles, CA 90006

$1,850,000
Price
12
Beds
12
Baths
5,758 Sq. Ft.
$321 / Sq. Ft.
5,758
Sq. Ft.
$321
per Sq. Ft.

Description

Amazing investment opportunity at 1215 Elden Ave! This multifamily property features 7 units across two well maintained buildings, including a front building with 6 x 1 Bed+1 Bath units and a spacious 6-bed + 6-bath single-family residence in the back. The back single-family home has been extensively rebuilt from the ground up with new engineering design and permits completed in 2017/2018. The front building electrical wiring installed in 2015, and 4 out of the 6 units have been beautifully remodeled...Amazing investment opportunity at 1215 Elden Ave! This multifamily property features 7 units across two well maintained buildings, including a front building with 6 x 1 Bed+1 Bath units and a spacious 6-bed + 6-bath single-family residence in the back. The back single-family home has been extensively rebuilt from the ground up with new engineering design and permits completed in 2017/2018. The front building electrical wiring installed in 2015, and 4 out of the 6 units have been beautifully remodeled in 2017/2018. With a gross operating income of approximately $164K and a NOI of $111K, this property offers a solid 5.7% CAP rate and 11.9 GRM, showcasing strong income potential with significant upside and value-add opportunities. Situated in the prime Koreatown area, residents will enjoy a vibrant neighborhood filled with trendy restaurants, nightlife, and easy access to public transportation.
  1. Listed by Kevin Danialifar • DRE #01904911 • Brokerage DRE #01425795 • Keller Williams Beverly Hills
  2. Listed by Jihad Rasheed • DRE #02231321 • Brokerage DRE #01425795 • Keller Williams Beverly Hills

Property Details for 1215 Elden Avenue

Zoning
LAR4
Style
Cape Cod
Parcel Number
5076018008
Total Units
7.0
Living Area
5758
Source Living Area
Vendor Enhanced
Area
Mid-Wilshire (C17)
Vacancy Rate
No
LISTING UPDATED: 11/12/2024 03:44 PM

Property Details for 1215 Elden Avenue

StatusActive
MLS #24-436835
Days on Market76
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1908
Lot Size0.17 AC / 7,503 SF
CountyLos Angeles County

Building Information for 1215 Elden Avenue

Stories2Residences-Year Built1908Building Size-Lot Size0.17 AC / 7,503 SF

Property Information for 1215 Elden Avenue

Community / Development
Community / Development
  • Number Of Units: 7
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 2
  • Type Of Units: Multi-Family
  • Security Features: Gated
  • Property Condition: Updated/Remodeled
  • Water: Water District, Meter on Property
  • Sewer: In Street
  • Water Heaters: Yes
  • Water Heater Features: Water Heater Unit, Gas
Contract Info
Contract Info
  • Financing: Cash To New Loan, Cash, Submit
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $159,037
  • Net Operating Income: $110,979.00
  • Gross Income: $163,956
  • Cap Rate: 6.00%
  • Gross Rent Multiplier: $11.89
  • Actual Annual Gross Rent: $163,956.00
  • Actual Gross Annual Income: $163,956
  • Actual Rent Total: $163,956.00
  • Financial Info as Of: 09/06/2024
  • Vacancy Allow Percent: 3.00%
  • Owner Pays: Gas
  • Total Annual Expense: 48058
Land / Lot Info
Land / Lot Info
  • Additional Parcel Number: No
  • Lot Acreage: 0.1722
  • Lot Size Square Feet: 7503
  • Lot Size Dimensions: 50x150
  • Source Lot Size Dimensions: Vendor Enhanced
Parking Details
Parking Details
  • Parking Garage: Driveway - Concrete, Parking Space, Driveway Gate
  • Total Parking: 9
  • Parking Features: Concrete, Parking Space
Interior Features
Interior Features
  • Levels: Two
  • Cooling: Wall/Window Unit(s), Central Air
  • Cooling Type: Wall/Window, Central
  • Heating: Central, Wall Furnace
  • Heating Type: Central, Wall
  • Flooring: Laminate, Tile
  • Equipment: Range/Oven, Microwave, Dishwasher, Dryer, Refrigerator, Washer
  • Room Bathroom Features: Remodeled
  • Bathroom Features: Remodeled
  • Cooking Appliances: Gas
  • Laundry: In Unit, Laundry Closet Stacked
Exterior Features
Exterior Features
  • Roof: Flat, Shingle
  • Patio Features: Balcony
  • New Construction: No
  • Construction Materials: Stucco
  • Exterior Construction: Stucco
  • Other Structural Features: Balcony
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 09-09-2024
  • Rent Control: Yes
  • Rent Control: 100
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,319.00
  • Unit Actual Rent: $7,917.00
  • Unit Projected Rent: $13,800.00
  • Like Units: 6
Unit 2 Information
  • Unit Beds: 6
  • Unit Baths: 6
  • Unit Furnished: No
  • Unit Rent: $5,749.00
  • Unit Actual Rent: $7,500.00
  • Unit Projected Rent: $7,500.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $1,000,000.00
  • Assessed Improvement Percent: 23.66
  • Assessed Land Value: $1,300,000.00
  • Assessed Land Percent: 76.34
  • Assessed Total Value: $2,300,000.00

Property History for 1215 Elden 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 1215 Elden Avenue

Taxable ValueLand$846,974Additions$263,061Total$1,110,035
Tax Record2024$14,487 ($1,207 / month)
Home Facts
Total Finished SqFt5,758 SqFtAbove Grade Finished SqFt5,758 SqFtLot Size7,501 SqFtStyleMulti-Family Res (5+ Units)Year Built1908ZoningLAR4CountyLOS ANGELESAPN5076-018-008

Schools near 1215 Elden Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Leo Politi Elementary School
PublicK to 5

Berendo Middle School
Public6 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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1215 Elden Avenue is a multi-family home for sale in Los Angeles, CA 90006. This property was listed for sale on September 9, 2024 by Keller Williams Beverly Hills, it's currently listed at $1,850,000. It has been on the market for a total of 76 days and was last sold on June 4, 2007. This listing's school district is Los Angeles Unified School District. Nearby schools include Leo Politi Elementary School, Berendo Middle School and Contreras Learning Center-School Of Social Justice. 1215 Elden Avenue is a 12-bed, 12-bath, 5,758 sqft multi-family home built in 1908.

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. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Keller Williams Beverly Hills, Kevin Danialifar, DRE #01904911; Keller Williams Beverly Hills, Jihad Rasheed, DRE #02231321

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.