1801 Albion Street
Closed 8/23/24
Closed 8/23/24
Description
1801 Albion Street provides convenient access to Downtown Los Angeles, L. A. Live, USC Health Sciences Campus, Dodger Stadium, FIGat7th, The Bloc and much more....Attractive interest-only seller financing available. We are proud to present an exceptional opportunity to acquire a well-maintained, 5-unit property located at 1801 Albion Street in the Lincoln Heights area of Los Angeles. This ±3,556 SF building sits on a ±8,309 SF lot and is situated between S Avenue 18 and S Avenue 19 on Albion Street.
1801 Albion Street provides convenient access to Downtown Los Angeles, L. A. Live, USC Health Sciences Campus, Dodger Stadium, FIGat7th, The Bloc and much more. Locally, tenants benefit from their proximity to major freeways (10, 5, 60, 110 and 101) and the Lincoln/Cypress Metro Rail Station, along with a vibrant mix of shopping centers, schools, restaurants, museums, and retailers. Los Angeles, the heart of entertainment, boast a constant demand for quality rentals. The property sits amidst a thriving working class with a steady need for well-maintained housing and easy access to major employers. 1801 Albion Street offers a unique living experience with the added convenience of an on-site retail store, individual driveway parking, porches, backyards, and mature landscaping. Units feature wood plank flooring, new cabinets, wall air conditioning and heating, ceiling fans and vertical blinds. 1801 Albion Street is a secure long-term investment ideal for any investor seeking a solid return. This opportunity caters to a wide range – first-time purchasers, seasoned investors, and those seeking a 1031 exchange – providing a win-win scenario. Select Units
- Listed by ERIC CHEN • DRE #01489184 • Brokerage DRE #00409987 • CB RICHARD ELLIS • 626-757-5717
Property Details for 1801 Albion Street
Property Details for 1801 Albion Street
| Status | Closed |
|---|---|
| MLS # | CV24147159 |
| Days on Market | 19 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1890 |
| County | Los Angeles County |
Building Information for 1801 Albion Street
Property Information for 1801 Albion Street
- Gross Income: $82,608
- Gross Scheduled Income: $82,608
- Vacancy Allowance: 2478
- Gross Operating Income: $80,130
- Net Operating Income: $53,743
- Gross Multiplier: 14.53
- Cap Rate: 4.48
- Financing: Assumed
- Operating Expense: $26,386
- New Taxes Expense: $15,039
- Fuel Expense: $0
- Electric Expense: $0
- Insurance Expense: $3,168
- Maintenance Expense: $2,404
- Professional Management Expense: $0
- Other Expense: $1,000
- Other Expense Description: Reserves
- Trash Expense: $0
- Water Sewer Expense: $4,776
- Total Expenses: $26,386
- Tax Block: 3
- Tax Tract Number: 199700
- Tax Census Tract: 1997.00
- CFD/Mello-Roos Fee: $646
- Tax Lot: 6
- Community Features: Curbs, Sidewalks
- Laundry: Yes
- Laundry Features: Community
- Cooling: Wall/Window Unit(s)
- Heating Type: Wall
- Heating: Wall Furnace
- Entry Location: 1
- View Description: City Lights
- Pool Features: None
- Pool Description: None
- Pool: N/K
- Spa Features: None
- Lot Features: 2-5 Units/Acre
- Number Of Units: 5
- Land Lease: No
- Land Lease Type: Fee
- Levels: One
- Water: Public
- Sewer: Public Sewer
- Water Source: Public
- Garage Spaces: 0
- Uncovered Spaces: 8
- Open Other Spaces Total: 8
- Parking Garage Spaces: 0
- Carport Spaces: 0
- Unit Type Units Total: 4
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Garage Attached: No
- Unit Type Actual Rent: $1,521
- Unit Type Total Rent: $73,008
- Unit Type Pro Forma: 2200
- Unit Type Type: 1
- Unit Type Units Total: 1
- Unit Type Beds Total: 0
- Unit Type Baths Total: 0
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Actual Rent: $800
- Unit Type Total Rent: $9,600
- Unit Type Pro Forma: 1500
- Unit Type Type: 2
- Number Of Units Leased: 5
- Rent Controlled: Yes
- Number Of Buildings: 4
- Number Of Separate Electric Meters: 5
- Number Of Separate Gas Meters: 5
- Number Of Separate Water Meters: 1
Property History for 1801 Albion Street
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1801 Albion Street
Schools near 1801 Albion Street
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 6 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | 9 to 12 |
Rating | School | Distance |
|---|---|---|
Albion Street Elementary School PublicK to 6 | ||
Florence Nightingale Middle School Public6 to 8 | ||
Abraham Lincoln Senior High School Public9 to 12 | ||
Woodrow Wilson 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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Listing Courtesy of CB RICHARD ELLIS, ERIC CHEN, DRE #01489184
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.