1341 East 59th Place

Los Angeles, CA 90001

$750,000
Price
5
Beds
4
Baths
1,580 Sq. Ft.
$475 / Sq. Ft.
1,580
Sq. Ft.
$475
per Sq. Ft.

Description

Part of an 11 Building Portfolio! Can be sold individually or as a portfolio. 1341 E. 59th Pl is a fully occupied 4-unit opportunity in South Los Angeles. The subject property offers and investor a great unit mix consisting of (2) 2 Bed / 1 Bath and (1) 1 Bed / 1 Bath and (1) Studio unit spread out over 1,580 square feet of gross leasable area and was built in 1923. The building sits on a 4,744 square foot lot that is zoned LAR3YY. There is significant upside in rents while also offering a great...Part of an 11 Building Portfolio! Can be sold individually or as a portfolio. 1341 E. 59th Pl is a fully occupied 4-unit opportunity in South Los Angeles. The subject property offers and investor a great unit mix consisting of (2) 2 Bed / 1 Bath and (1) 1 Bed / 1 Bath and (1) Studio unit spread out over 1,580 square feet of gross leasable area and was built in 1923. The building sits on a 4,744 square foot lot that is zoned LAR3YY. There is significant upside in rents while also offering a great day one cash flow. Buyer to verify feasibility of adding an ADU to the property for additional value add potential.
  1. Listed by Peter James • DRE #01748556 • Brokerage DRE #01399621 • Lyon Stahl Investment Real Estate, Inc.
  2. Listed by William James • DRE #01734419 • Brokerage DRE #01399621 • Lyon Stahl Investment Real Estate, Inc.

Property Details for 1341 East 59th Place

Zoning
LCR3YY
Parcel Number
6008024031
Total Units
4.0
Living Area
1580
Source Living Area
Vendor Enhanced
Area
Downtown L.A. (C42)
Vacancy Rate
0
Lot Size Area
4746
LISTING UPDATED: 11/09/2024 12:01 AM

Property Details for 1341 East 59th Place

StatusActive
MLS #24-459385
Days on Market50
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1923
Lot Size0.11 AC / 4,746 SF
CountyLos Angeles County

Building Information for 1341 East 59th Place

Stories1Residences-Year Built1923Building Size-Lot Size0.11 AC / 4,746 SF

Property Information for 1341 East 59th Place

Community / Development
Community / Development
  • Number Of Units: 4
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 1
  • Number Of Buildings: 2
  • Type Of Units: Apts
  • Security Features: Gated
  • Direction Faces: South
  • Water: Public
  • Sewer: In Street
  • Water Heaters: Yes
  • Water Heater Features: Gas, Water Heater Unit
Contract Info
Contract Info
  • Probate: No
  • Financing: Cash To New Loan
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $66,553
  • Net Operating Income: $46,479.00
  • Gross Income: $70,056
  • Cap Rate: 6.20%
  • Gross Rent Multiplier: $10.71
  • Vacancy Allow Dollar: $3,503.00
  • Vacancy Allow Percent: 5.00%
  • Owner Pays: Water
  • Total Annual Expense: 20074
Land / Lot Info
Land / Lot Info
  • Land Lease Type: Fee
  • Land Lease: No
  • Additional Parcel Number: No
  • Lot Acreage: 0.109
  • Lot Size Square Feet: 4746
  • Lot Features: Rectangular Lot
  • Lot Description: Fenced, Lot Shape-Rectangular, Single Lot
  • Lot Location: Alley Access
Parking Details
Parking Details
  • Parking Garage: Uncovered, Gated
  • Total Parking: 3
  • Parking Features: Uncovered, Gated
Interior Features
Interior Features
  • Levels: One
  • Cooling: None
  • Cooling Type: None
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Refrigerator, Range/Oven
  • Laundry: None
Exterior Features
Exterior Features
  • Pool: No
  • Private Pool: No
  • Pool Description: None
  • Pool Features: None
  • Spa: No
  • Spa: None
  • Tennis Court: None
  • Roof: Asphalt, Flat, Rolled/Hot Mop
  • New Construction: No
  • Construction Materials: Stucco
  • Exterior Construction: Stucco
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 11-01-2024
  • Listing Terms: Cash To New Loan
  • Rent Control: Yes
  • Rent Control: 100
  • Tenant Pays: Gas, Electricity
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,470.00
  • Unit Actual Rent: $1,470.00
  • Unit Projected Rent: $2,132.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,449.00
  • Unit Actual Rent: $1,449.00
  • Unit Projected Rent: $2,407.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,460.00
  • Unit Actual Rent: $2,919.00
  • Unit Projected Rent: $3,052.00
  • Like Units: 2
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $273,409.00
  • Assessed Improvement Percent: 50.5
  • Assessed Land Value: $268,048.00
  • Assessed Land Percent: 49.5
  • Assessed Total Value: $541,457.00

Property History for 1341 East 59th Place

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 1341 East 59th Place

Taxable ValueLand$273,408Additions$278,877Total$552,285
Tax Record2024$8,736 ($728 / month)
Home Facts
Total Finished SqFt1,580 SqFtAbove Grade Finished SqFt1,580 SqFtLot Size4,744 SqFtStyleQuadraplexYear Built1923ZoningLCR3YYCountyLOS ANGELESAPN6008-024-031

Schools near 1341 East 59th Place

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
Charter - 6 to 8
Rating
School
Distance
Los Angeles Academy Middle
Public6 to 8

Alliance Kory Hunter Middle
Charter6 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.

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1341 East 59th Place is a multi-family home for sale in Los Angeles, CA 90001. This property was listed for sale on November 1, 2024 by Lyon Stahl Investment Real Estate, Inc., it's currently listed at $750,000. It has been on the market for a total of 50 days and was last sold on January 3, 2019. This listing's school district is Los Angeles Unified School District. Nearby schools include Dr. Lawrence H. Moore Math, Science, Technology Academy, Los Angeles Academy Middle and Academy For Multiligual Arts And Science At Mervyn M. Dymally High. 1341 East 59th Place is a 5-bed, 4-bath, 1,580 sqft multi-family home built in 1923.

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 Lyon Stahl Investment Real Estate, Inc., Peter James, DRE #01748556; Lyon Stahl Investment Real Estate, Inc., William James, DRE #01734419

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.