1723 Corinth Avenue

Los Angeles, CA 90025

$2,295,000
Price
8
Beds
10
Baths
5,433 Sq. Ft.
$422 / Sq. Ft.
5,433
Sq. Ft.
$422
per Sq. Ft.

Description

1723 Corinth Ave is a ten (10) unit multi-family property that has entitled plans for a new nine (9) unit project. Located in a wonderful West LA location, the property is near all the restaurants and shops on Sawtelle Blvd., and in close proximity to Westwood, Santa Monica and Century City. The existing two story building was constructed in 1957 is approximately 5,433 SF, and has an excellent unit mix of eight (8) 1 BR + 1 Bath and two (2) studio units. Two of the 1 BR + 1 Bath units are currently...1723 Corinth Ave is a ten (10) unit multi-family property that has entitled plans for a new nine (9) unit project. Located in a wonderful West LA location, the property is near all the restaurants and shops on Sawtelle Blvd., and in close proximity to Westwood, Santa Monica and Century City. The existing two story building was constructed in 1957 is approximately 5,433 SF, and has an excellent unit mix of eight (8) 1 BR + 1 Bath and two (2) studio units. Two of the 1 BR + 1 Bath units are currently vacant, and the building still requires the seismic retrofit work for the tuck under parking structure. The seller's have fully entitled plans for a new nine (9) unit development project. The new building will be four stories in heights with one level of subterranean parking. The total square footage of the new property will be approximately 10,251 SF and will have a five (5) 2 BR + 2 Bath, and four (4) 3 BR + 2 Bath units. The new multi-family development does NOT require any of the units to be designated as low income and does not fall under SB8. All the tenants have been notified that the property has been Ellised and is expected to be fully vacant by March of 2025. Unique opportunity for a savvy value-add multi-family investor or developer looking to build a new apartment in prime West LA. Full development plans are available upon request.
  1. Listed by Errol Spiro • DRE #00893163 • Brokerage DRE #00893163 • Miller & Desatnik Realty Co.

Property Details for 1723 Corinth Avenue

Zoning
LAR3
Parcel Number
4261017008
Total Units
10.0
Living Area
5433
Source Living Area
Vendor Enhanced
Area
West Los Angeles (WLA)
Vacancy Rate
3%
Lot Size Area
7361
LISTING UPDATED: 06/08/2024 12:01 AM

Property Details for 1723 Corinth Avenue

StatusActive
MLS #24-398551
Days on Market112
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1957
Lot Size0.17 AC / 7,361 SF
CountyLos Angeles County

Building Information for 1723 Corinth Avenue

Stories2Residences-Year Built1957Building Size-Lot Size0.17 AC / 7,361 SF

Property Information for 1723 Corinth Avenue

Community / Development
Community / Development
  • Number Of Units: 10
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Apartments
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: $150,000
  • Net Operating Income: $90,500.00
  • Gross Income: $154,536
  • Cap Rate: 4.16%
  • Gross Rent Multiplier: $14.79
  • Total Annual Expense: 55000
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.169
  • Lot Size Square Feet: 7361
Parking Details
Parking Details
  • Parking Garage: Carport Attached
  • Total Parking: 8
  • Parking Features: Attached Carport
  • Attached Garage: Yes
Interior Features
Interior Features
  • Levels: Two
  • Cooling: None
  • Cooling Type: None
  • Heating: None
  • Heating Type: None
  • Equipment: None
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 05-31-2024
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $912.00
  • Unit Actual Rent: $1,824.00
  • Unit Projected Rent: $3,600.00
  • Like Units: 2
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,382.00
  • Unit Actual Rent: $2,350.00
  • Unit Projected Rent: $18,800.00
  • Like Units: 8
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $536,099.00
  • Assessed Improvement Percent: 20.0
  • Assessed Land Value: $2,144,403.00
  • Assessed Land Percent: 80
  • Assessed Total Value: $2,680,502.00

Property History for 1723 Corinth 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 1723 Corinth Avenue

Taxable ValueLand$2,187,291Additions$547,340Total$2,734,631
Tax Record2023$33,248 ($2,771 / month)
Home Facts
Total Finished SqFt5,433 SqFtAbove Grade Finished SqFt5,433 SqFtLot Size7,359 SqFtStyleMulti-Family Res (5+ Units)Year Built1957ZoningLAR3CountyLOS ANGELESAPN4261-017-008

Schools near 1723 Corinth Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Charter - 9 to 12
Charter - K to 7
Rating
School
Distance
Nora Sterry Elementary School
PublicK to 5

Daniel Webster Middle School
Public6 to 8

University Senior High School Charter
Charter9 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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1723 Corinth Avenue is a multi-family home for sale in Los Angeles, CA 90025. This property was listed for sale on May 31, 2024 by Miller & Desatnik Realty Co., it's currently listed at $2,295,000. It has been on the market for a total of 112 days and was last sold on February 19, 2019. This listing's school district is Los Angeles Unified School District. Nearby schools include Nora Sterry Elementary School, Daniel Webster Middle School and University Senior High School Charter. 1723 Corinth Avenue is a 8-bed, 10-bath, 5,433 sqft multi-family home built in 1957.

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 Miller & Desatnik Realty Co., Errol Spiro, DRE #00893163

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.