1609 Oak Street

Los Angeles, CA 90015

$910,000
Price
4
Beds
6
Baths
5,518 Sq. Ft.
$165 / Sq. Ft.
5,518
Sq. Ft.
$165
per Sq. Ft.

Description

Do not walk the property or disrupt tenants. Contact listing team for details. We are pleased to offer for sale a six-unit apartment community located at 1609 Oak Street. The subject property is located west of the 110 Freeway and south of Venice Boulevard. Situated on a 4,745 square foot parcel, the property is comprised of two studios and four one-bedroom units. The property has 40% remaining rental upside through unit renovations. 1609 Oak Street presents investors a unique opportunity to acquire...Do not walk the property or disrupt tenants. Contact listing team for details. We are pleased to offer for sale a six-unit apartment community located at 1609 Oak Street. The subject property is located west of the 110 Freeway and south of Venice Boulevard. Situated on a 4,745 square foot parcel, the property is comprised of two studios and four one-bedroom units. The property has 40% remaining rental upside through unit renovations. 1609 Oak Street presents investors a unique opportunity to acquire an asset with a strong value-add component and the opportunity to capitalize on the westward expansion and revitalization of the Downtown sub-market. Located in close proximity to multiple venues for the 2028 Summer Olympics in Los Angeles. The property is a short distance from venues in the "Downtown Sports Park", Including the LA Memorial Coliseum, Crypto.com Arena, BMO Stadium, & more, which bode well for the long term prospects of this neighborhood.
  1. Listed by Sean Rosenzweig • DRE #01406343 • Brokerage DRE #01238010 • Marcus & Millichap

Property Details for 1609 Oak Street

Zoning
LAM1
Parcel Number
5135028014
Total Units
6.0
Living Area
5518
Source Living Area
Assessor
Area
Downtown L.A. (C42)
Vacancy Rate
0
Lot Size Area
4745
LISTING UPDATED: 10/09/2024 09:38 AM

Property Details for 1609 Oak Street

StatusActive
MLS #24-429973
Days on Market96
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1922
Lot Size0.11 AC / 4,745 SF
CountyLos Angeles County

Building Information for 1609 Oak Street

Stories2Residences-Year Built1922Building Size-Lot Size0.11 AC / 4,745 SF

Property Information for 1609 Oak Street

Community / Development
Community / Development
  • Number Of Units: 6
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Residential
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $84,227
  • Net Operating Income: $45,108.00
  • Gross Income: $86,832
  • Cap Rate: 4.96%
  • Gross Rent Multiplier: $10.48
  • Total Annual Expense: 39119
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1089
  • Lot Size Square Feet: 4745
Parking Details
Parking Details
  • Parking Garage: None
  • Total Parking: 0
  • Parking Features: None
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Other
  • Heating Type: Other
  • Equipment: Other
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 08-20-2024
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,250.00
  • Unit Actual Rent: $1,250.00
  • Unit Projected Rent: $1,850.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,418.00
  • Unit Actual Rent: $1,418.00
  • Unit Projected Rent: $1,850.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $911.00
  • Unit Actual Rent: $911.00
  • Unit Projected Rent: $1,350.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,364.00
  • Unit Actual Rent: $1,364.00
  • Unit Projected Rent: $1,850.00
  • Like Units: 1
Unit 5 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,249.00
  • Unit Actual Rent: $1,249.00
  • Unit Projected Rent: $1,850.00
  • Like Units: 1
Unit 6 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,044.00
  • Unit Actual Rent: $1,044.00
  • Unit Projected Rent: $1,350.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110, 2111
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $228,433.00
  • Assessed Improvement Percent: 27.85
  • Assessed Land Value: $591,801.00
  • Assessed Land Percent: 72.15
  • Assessed Total Value: $820,234.00

Property History for 1609 Oak 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 1609 Oak Street

Taxable ValueLand$603,637Additions$233,001Total$836,638
Tax Record2024$10,722 ($893 / month)
Home Facts
Total Finished SqFt5,518 SqFtAbove Grade Finished SqFt5,518 SqFtLot Size4,745 SqFtStyleMulti-Family Res (5+ Units)Year Built1922ZoningLAM1CountyLOS ANGELESAPN5135-028-014

Schools near 1609 Oak Street

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 - K to 8
Rating
School
Distance
Norwood Street Elementary School
PublicK to 5

John Adams Middle School
Public6 to 8

West Adams Preparatory High School
Public9 to 12

Downtown Value School
CharterK 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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1609 Oak Street is a multi-family home for sale in Los Angeles, CA 90015. This property was listed for sale on August 20, 2024 by Marcus & Millichap, it's currently listed at $910,000. It has been on the market for a total of 96 days and was last sold on September 10, 2014. This listing's school district is Los Angeles Unified School District. Nearby schools include Norwood Street Elementary School, John Adams Middle School and West Adams Preparatory High School. 1609 Oak Street is a 4-bed, 6-bath, 5,518 sqft multi-family home built in 1922.

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 Marcus & Millichap, Sean Rosenzweig, DRE #01406343

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.