1532 South Wilton Place

Los Angeles, CA 90019

$2,750,000
Price
28
Beds
14
Baths
9,916 Sq. Ft.
$277 / Sq. Ft.
9,916
Sq. Ft.
$277
per Sq. Ft.

Description

HUGE PRICE IMPROVEMENT & PRICED TO SELL! Bring all offers! 14 existing units in prime Mid City LA, all 2 Bed/1 Bath with 14 on-site parking spaces, and being offered at a low $196k per door and $277 per foot! The property will be delivered with RTI's and approved plans by the City of LA to begin building (2) ADU's in the back, which would turn the building into 16 units and add substantial income, all while still having plenty of on-site tenant parking spaces post-ADU completion. Opportunity to make...HUGE PRICE IMPROVEMENT & PRICED TO SELL! Bring all offers! 14 existing units in prime Mid City LA, all 2 Bed/1 Bath with 14 on-site parking spaces, and being offered at a low $196k per door and $277 per foot! The property will be delivered with RTI's and approved plans by the City of LA to begin building (2) ADU's in the back, which would turn the building into 16 units and add substantial income, all while still having plenty of on-site tenant parking spaces post-ADU completion. Opportunity to make it $171k per door post-ADU completion. In place 11.06 GRM on current rents with the upside to a 5.54 GRM, and a 5.61% cap rate on current rents and T12 actual expenses, with the upside to a 13.84% cap rate. 8.83 GRM and 7.53% cap rate after ADU completion, assuming all other rents remain the same. Some highlighted features include brand new electrical subpanels in all units, both roofs were replaced in 2017 and done with permits, EQ seismic retrofit work has been completed, copper plumbing, brand-new laundry room with new owner-owned washer & dryer machines (NO leases), new master water heaters, and EQ shut off valves have been installed on the gas meters. Some tenants are on RUBS for utility reimbursements to lower operating costs, and the building is separately metered for both gas & electricity. There's 95% rental upside for the next owner to achieve, and approximately 65% rental upside after ADU's are completed and assuming all other rents stay the same. There's everything to love about this prime and central Mid City location as it borders West Adams, Koreatown and Downtown Los Angeles and Pico Union, and is just blocks away from Country Club Park!

Listing Agent

  1. Jon Rawson

    Jon Rawson

    Listing Agent

    Compass

    DRE #02010400

    jon.rawson@compass.com

    P: (310)-869-9137

Property Details for 1532 South Wilton Place

Zoning
LAR3
Parcel Number
5073005012
Total Units
14.0
Living Area
9916
Source Living Area
Vendor Enhanced
Area
Mid Los Angeles (C16)
Vacancy Rate
1
Lot Size Area
13161
LISTING UPDATED: 12/10/2024 01:13 PM

Property Details for 1532 South Wilton Place

StatusPending
MLS #24-419799
Days on Market110
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1960
Lot Size0.30 AC / 13,161 SF
CountyLos Angeles County

Building Information for 1532 South Wilton Place

Stories2Residences-Year Built1960Building Size-Lot Size0.30 AC / 13,161 SF

Property Information for 1532 South Wilton Place

Community / Development
Community / Development
  • Number Of Units: 14
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 2
  • Type Of Units: Apartments
  • Security Features: Gated
  • Water Heaters: Yes
  • Water Heater Features: Central Water Heater
  • Building Permit: Yes
Contract Info
Contract Info
  • Probate: No
  • Financing: Cash To New Loan, Cash
  • Disclosures: As Is
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $248,584
  • Net Operating Income: $154,220.00
  • Gross Income: $248,584
  • Cap Rate: 5.61%
  • Gross Rent Multiplier: $11.06
  • Financial Info as Of: 08/15/2024
  • Owner Pays: Water, Gardener
  • Total Annual Expense: 94364
Land / Lot Info
Land / Lot Info
  • Additional Parcel Number: No
  • Alley: No
  • Lot Acreage: 0.3021
  • Lot Size Square Feet: 13161
  • Lot Size Dimensions: 74x179
  • Source Lot Size Dimensions: Vendor Enhanced
Parking Details
Parking Details
  • Parking Garage: Assigned, Covered Parking, Driveway, Parking Space
  • Total Parking: 14
  • Covered Parking: 6
  • Open Other Spaces Total: 8
  • Parking Features: Assigned, Covered, Driveway, Parking Space
Interior Features
Interior Features
  • Levels: Two
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling Type: Ceiling Fan
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Ceiling Fan, Dishwasher, Dryer, Garbage Disposal, Microwave, Washer, Range/Oven, Refrigerator, Freezer
  • Interior Features: Ceiling Fan(s)
  • Common Walls: Attached
  • Laundry: Laundry Area, Community
  • Laundry Equipment: Own
Exterior Features
Exterior Features
  • Entry Location: Main Level
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 07-25-2024
  • Rent Control: Yes
  • Rent Control: 100
  • Tenant Pays: Gas, Electricity
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,479.00
  • Unit Actual Rent: $20,715.00
  • Unit Projected Rent: $2,450.00
  • Like Units: 14
Unit 2 Information
  • Unit Beds: 3
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $3,250.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $1,895.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $663,000.00
  • Assessed Improvement Percent: 23.21
  • Assessed Land Value: $2,193,000.00
  • Assessed Land Percent: 76.79
  • Assessed Total Value: $2,856,000.00

Property History for 1532 South Wilton 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 1532 South Wilton Place

Taxable ValueLand$2,236,860Additions$676,260Total$2,913,120
Tax Record2024$36,730 ($3,061 / month)
Home Facts
Total Finished SqFt9,916 SqFtAbove Grade Finished SqFt9,916 SqFtLot Size13,157 SqFtStyleMulti-Family Res (5+ Units)ZoningLAR3CountyLOS ANGELESAPN5073-005-012

Schools near 1532 South Wilton 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
Public - 12
Rating
School
Distance
Pio Pico Middle School
Public6 to 8

Los Angeles 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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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 Avenue Realty Group, Jon Rawson, DRE #02010400; Avenue Realty Group, Robert Kellner, DRE #02201789

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.