1805 South New England Street

Los Angeles, CA 90006

$2,699,000
Last Sold Price
20
Beds
20
Baths
7,509 Sq. Ft.
$359 / Sq. Ft.
7,509
Sq. Ft.
$359
per Sq. Ft.

Description

1805 S New England is a 2021 construction non rent-controlled fourplex in the rapidly-developing Pico-Union neighborhood 7 minutes from USC. This massive property is FULLY RENTED at a whopping $17,200 per month with an outstanding “master tenant” who will be using the units for corporate leasing/Airbnb-style rentals. With a REAL 6.06% CAP RATE, 1805 S New England is the definition of a “cash cow”. This is no ordinary new construction double-duplex- it’s a MEGA sized property made up of four enormous...1805 S New England is a 2021 construction non rent-controlled fourplex in the rapidly-developing Pico-Union neighborhood 7 minutes from USC. This massive property is FULLY RENTED at a whopping $17,200 per month with an outstanding “master tenant” who will be using the units for corporate leasing/Airbnb-style rentals. With a REAL 6.06% CAP RATE, 1805 S New England is the definition of a “cash cow”. This is no ordinary new construction double-duplex- it’s a MEGA sized property made up of four enormous 5 bedroom units. With a prime, central location so close to USC, Downtown LA, Koreatown and Echo Park, this area is experiencing tremendous growth and steady gentrification. The unit mix consists of three 5 bedroom, 5 bathroom units and one 5 bedroom, 4 bathroom unit. These units define upscale urban living, with expertly designed open floorplans, stainless steel appliances, high ceilings, stunning white cabinetry, sleek tilework, numerous balconies throughout, and a spacious back yard area. Other perks to note include: a 1 year fit and finish warranty, brand new EVERYTHING, little to no maintenance, separate meters for gas, water & electric, and extreme desirability amongst renters!
  1. Listed by Elizabeth Maddox • DRE #01921425 • Brokerage DRE #01921425 • The 2-4 Unit Specialists
  2. Listed by Isaac Davidi • DRE #01819489 • Brokerage DRE #01819489 • On Track Property

Property Details for 1805 South New England Street

Architectural Style
Modern
View
Neighborhood
Parking Spaces Total
8
Private Pool
No
Cooling Type
Central Forced Air
Total Units
4.0
Building Type
Attached
Lot Size Source
Assessor
LISTING UPDATED: 07/22/2021 08:00 AM

Property Details for 1805 South New England Street

StatusClosed
MLS #BB21106390
Days on Market1
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built2021
Lot Size0.15 AC / 6,605 SF
CountyLos Angeles County

Virtual Tour

Building Information for 1805 South New England Street

Stories3Residences-Year Built2021Building Size-Lot Size0.15 AC / 6,605 SF

Property Information for 1805 South New England Street

Rental Info
Rental Info
  • Tenant Pays: All Utilities
Income / Expense / Tax Details
Income Details
  • Gross Income: $17,200
  • Gross Scheduled Income: $206,400
  • Vacancy Allowance: 4128
  • Gross Operating Income: $202,272
  • Net Operating Income: $163,478
  • Gross Multiplier: 13.08
  • Cap Rate: 6.06
  • Financing: Cash To Existing Loan
Expense Details
  • Operating Expense: $38,794
  • New Taxes Expense: $23,391
  • Gardener Expense: $1,200
  • Fuel Expense: $0
  • Electric Expense: $600
  • Insurance Expense: $3,004
  • Maintenance Expense: $1,600
  • Trash Expense: $0
  • Water Sewer Expense: $0
  • Total Expenses: $38,794
Tax / Assessment Info
  • Tax Tract Number: 26
  • Tax Census Tract: 2211.20
  • Taxes Percent: 1.20%
  • Tax Lot: 26
Community / Development
Community / Development
  • Community Features: Curbs, Sidewalks, Street Lights
Property / Structure Info
Interior Features
  • Appliances: Dishwasher, Freezer, Disposal, Gas Range, Microwave, Refrigerator
  • Equipment: Dishwasher, Dryer, Freezer, Inside, Microwave, Refrigerator, Washer
  • Interior Features: Balcony, Living Room Balcony, Open Floorplan, Recessed Lighting
  • Room Type: Kitchen, Living Room, Master Bathroom, Master Bedroom, Walk-In Closet
  • Bedroom Features: Master Bedroom, WalkInCloset
  • Laundry: Yes
  • Laundry Features: Dryer Included, Inside, Washer Included
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling: Central Air
  • Heating: Central
  • Flooring: Laminate, Tile
  • Virtual Tour URL Branded: https://youtu.be/PsouoLnwIu8
  • Virtual Tour URL Unbranded: https://youtu.be/PsouoLnwIu8
Exterior Features
  • Fence: Yes
  • Fencing: New Condition
  • Property Condition: Turnkey
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Spa Features: None
Land/Lot Info
  • Lot Features: Landscaped, Level with Street, Level, Sprinklers Drip System
  • Number Of Units: 4
  • Land Lease: No
  • Land Lease Type: Fee
  • Topography: Level
  • Road Surface Type: Paved
  • Road Frontage Type: City Street
  • Levels: Three Or More
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 3
  • Uncovered Spaces: 5
  • Open Other Spaces Total: 5
  • Parking Garage Spaces: 3
  • Carport Spaces: 0
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 5
  • Unit Type Baths Total: 5
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $4,300
  • Unit Type Total Rent: $4,300
  • Unit Type Pro Forma: 4300
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 5
  • Unit Type Baths Total: 5
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $4,300
  • Unit Type Total Rent: $4,300
  • Unit Type Pro Forma: 4300
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 5
  • Unit Type Baths Total: 5
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $4,300
  • Unit Type Total Rent: $4,300
  • Unit Type Pro Forma: 4300
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 5
  • Unit Type Baths Total: 5
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $4,300
  • Unit Type Total Rent: $4,300
  • Unit Type Pro Forma: 4300
  • Unit Type Type: 4
Unit Information
  • Number Of Units Leased: 0
  • Rent Controlled: No
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 4
  • Number With Dishwasher: 4
  • Number With Range: 4
  • Number With Refrigerator: 4
  • Number With Disposal: 4

Property History for 1805 South New England 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 1805 South New England Street

Taxable ValueLand$1,040,400Additions$1,767,639Total$2,808,039
Tax Record2024$33,969 ($2,831 / month)
Home Facts
Beds3Total Finished SqFt1,170 SqFtAbove Grade Finished SqFt1,170 SqFtStories1Lot Size6,605 SqFtStyleSingle Family ResidenceYear Built1902ZoningLARD1.5CountyLOS ANGELESAPN5056-016-018

Schools near 1805 South New England 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 - 6 to 12
Rating
School
Distance
Magnolia Avenue Elementary School
PublicK to 5

Berendo Middle School
Public6 to 8

West Adams Preparatory 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 The 2-4 Unit Specialists, Elizabeth Maddox, DRE #01921425; On Track Property, Isaac Davidi, DRE #01819489

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.