1722 West 59th Place

Los Angeles, CA 90047

$649,000
Price
4
Beds
3
Baths
1,582 Sq. Ft.
$410 / Sq. Ft.
1,582
Sq. Ft.
$410
per Sq. Ft.

Description

Purchase 3 residential units for the price of a small 1 bedroom condo in West LA. EXCELLENT long term income with great upside opportunity for investor located near Downtown LA and USC. Great for 1031 exchange. Great for 1031 exchange $4790 per month current gross rental income. Property to be delivered with tenants. An Owner user would need to handle the process of vacating a unit after the close of escrow. Property consists of three addresses: 1722, 1722 1/2, & 1724 W. 59th Place. 1 - two bedrooms/one...Purchase 3 residential units for the price of a small 1 bedroom condo in West LA. EXCELLENT long term income with great upside opportunity for investor located near Downtown LA and USC. Great for 1031 exchange. Great for 1031 exchange $4790 per month current gross rental income. Property to be delivered with tenants. An Owner user would need to handle the process of vacating a unit after the close of escrow. Property consists of three addresses: 1722, 1722 1/2, & 1724 W. 59th Place. 1 - two bedrooms/one bath, 1 one bedroom/one bath, and detached studio unit with one bath. The 2 Bedroom unit has a private yard in front for their use. The 1 bedroom and Studio unit in the back share private sundeck outdoor patio area. The two back units have entrance thru alley access. Owner pays for all utilities. Buyer and Buyer agent to verify square footage, bedroom count, permits, & income and expense information to satisfy themselves. The property has close proximity to public transportation and nearby 110, 10, 5 and 60 freeways. Buyer to cooperate with Seller's 1031 Exchange. Property is being Sold "As Is". Units can be shown upon accepted offer.
  1. Listed by Benjamin Shamouelian • DRE #01703755 • Brokerage DRE #01010733 • Exclusive Realty Inc

Property Details for 1722 West 59th Place

Zoning
LAR2
Cross Streets
Western Ave. & 59th Place.
Parcel Number
6002015012
Total Units
3.0
Living Area
1582
Source Living Area
Vendor Enhanced
Area
Los Angeles Southwest (C34)
Vacancy Rate
0
LISTING UPDATED: 12/12/2024 11:03 AM

Property Details for 1722 West 59th Place

StatusActive
MLS #24-423575
Days on Market114
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1924
Lot Size0.08 AC / 3,363 SF
CountyLos Angeles County

Building Information for 1722 West 59th Place

Stories1Residences-Year Built1924Building Size-Lot Size0.08 AC / 3,363 SF

Property Information for 1722 West 59th Place

Community / Development
Community / Development
  • Number Of Units: 3
  • Association Amenities: Utilities
  • Association Fees Include: Utilities
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 1
  • Number Of Buildings: 2
  • Type Of Units: Residential
  • Water Heaters: Yes
Contract Info
Contract Info
  • 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: $55,755
  • Net Operating Income: $42,535.20
  • Gross Income: $57,480
  • Cap Rate: 5.50%
  • Gross Rent Multiplier: $10.94
  • Actual Annual Gross Rent: $57,480.00
  • Owner Pays: Water, Electricity, Gas
  • Total Annual Expense: 23000
Land / Lot Info
Land / Lot Info
  • Alley: Yes
  • Lot Acreage: 0.0772
  • Lot Size Square Feet: 3363
Parking Details
Parking Details
  • Parking Garage: Assigned
  • Total Parking: 2
  • Parking Features: Assigned
Interior Features
Interior Features
  • Levels: One
  • Cooling: Wall/Window Unit(s)
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: Other
Lease Terms
Lease Terms
  • Entry Date: 08-29-2024
  • Rent Control: Yes
  • Tenant Pays: Cable TV
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,020.00
  • Unit Actual Rent: $2,020.00
  • Unit Projected Rent: $2,800.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,575.00
  • Unit Actual Rent: $1,575.00
  • Unit Projected Rent: $2,200.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,195.00
  • Unit Actual Rent: $1,195.00
  • Unit Projected Rent: $1,600.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $164,045.00
  • Assessed Improvement Percent: 27.27
  • Assessed Land Value: $437,457.00
  • Assessed Land Percent: 72.73
  • Assessed Total Value: $601,502.00

Property History for 1722 West 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 1722 West 59th Place

Taxable ValueLand$446,206Additions$167,325Total$613,531
Tax Record2024$7,649 ($637 / month)
Home Facts
Total Finished SqFt1,582 SqFtAbove Grade Finished SqFt1,582 SqFtLot Size3,363 SqFtStyleTriplexYear Built1924ZoningLAR2CountyLOS ANGELESAPN6002-015-012

Schools near 1722 West 59th Place

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Charter - K to 5
Public - 6 to 8
Public - 9 to 12
Charter - K to 8
Rating
School
Distance
John Muir Middle School
Public6 to 8

Invictus Leadership Academy
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.

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1722 West 59th Place is a multi-family home for sale in Los Angeles, CA 90047. This property was listed for sale on August 29, 2024 by Exclusive Realty Inc, it's currently listed at $649,000. It has been on the market for a total of 114 days and was last sold on September 17, 2018. This listing's school district is Los Angeles Unified School District. Nearby schools include Gifted Academy Of Math And Entrepreneurial Studies, John Muir Middle School and Augustus F. Hawkins High A Critical Design And Gaming. 1722 West 59th Place is a 4-bed, 3-bath, 1,582 sqft multi-family home built in 1924.

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 Exclusive Realty Inc, Benjamin Shamouelian, DRE #01703755

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.