1929 Arlington Avenue

Los Angeles, CA 90018

$3,794,000
Price
27
Beds
24
Baths
14,042 Sq. Ft.
$270 / Sq. Ft.
14,042
Sq. Ft.
$270
per Sq. Ft.

Description

Partnership wants it sold! (Listed Price Close to What Partnership Paid When They Purchased the Building) We are pleased to present the opportunity to acquire Arlington Apartments in the submarket of Arlington Heights (LA Market) and in close proximity to Mid-City and Koreatown. This offering includes an 18-unit multifamily building built in 1964 with a foot print of approximately 14,042 SF, sitting on a 12,899 SF lot zoned LAR3. Arlington Apartments offers an investor a significant value add opportunity...Partnership wants it sold! (Listed Price Close to What Partnership Paid When They Purchased the Building) We are pleased to present the opportunity to acquire Arlington Apartments in the submarket of Arlington Heights (LA Market) and in close proximity to Mid-City and Koreatown. This offering includes an 18-unit multifamily building built in 1964 with a foot print of approximately 14,042 SF, sitting on a 12,899 SF lot zoned LAR3. Arlington Apartments offers an investor a significant value add opportunity with approximately 75% (+/-) potential upside in rents spread across a desirable unit mix of over 50% 2 bedroom units. Soft story retrofit has been completed and the seller owns the laundry machines. This well-located multifamily property offers an investor a rare opportunity to secure a larger sized asset in a high demand and growth submarket with real reposition opportunity and impressive frontage. Arlington Heights is diverse and populated neighborhood in Central Los Angeles with Koreatown to the north, Mid-City and Mid-Wilshire to the west, Jefferson Park to the south and Harvard Heights to the east. Located centrally in Los Angeles, Arlington Heights is a transit friendly melting pot of cultural influences. Situated just north of the 10 FWY, this neighborhood provides easy access to Culver City to the west and downtown LA to the east. Along La Brea Avenue, Wilshire Blvd, and Western Ave you will find restaurants and popular bars. The stretch of Washington Blvd, anchored by the Underground Museum between 3rd and 6th avenues, is becoming a desirable location for art galleries and boutiques. Nestled right at the convergence of main thoroughfares and freeways, Arlington Heights allows for easy access to the wider region of LA and key employment centers.
  1. Listed by Hirsch Sherman • DRE #00710184 • Brokerage DRE #01125362 • Keller Williams Realty Calabasas

Property Details for 1929 Arlington Avenue

Zoning
LAR3
Parcel Number
5060031022
Total Units
18.0
Living Area
14042
Source Living Area
Vendor Enhanced
Area
Mid Los Angeles (C16)
Vacancy Rate
3%
Lot Size Area
12899
LISTING UPDATED: 10/08/2024 01:49 PM

Property Details for 1929 Arlington Avenue

StatusActive
MLS #24-399531
Days on Market168
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1964
Lot Size0.30 AC / 12,899 SF
CountyLos Angeles County

Building Information for 1929 Arlington Avenue

Stories2Residences-Year Built1964Building Size-Lot Size0.30 AC / 12,899 SF

Property Information for 1929 Arlington Avenue

Community / Development
Community / Development
  • Number Of Units: 18
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Apartment
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $276,042
  • Net Operating Income: $155,927.00
  • Gross Income: $284,580
  • Cap Rate: 4.11%
  • Gross Rent Multiplier: $13.33
  • Total Annual Expense: 120115
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.2962
  • Lot Size Square Feet: 12899
Parking Details
Parking Details
  • Parking Garage: Carport
  • Total Parking: 18
  • Parking Features: Carport
Interior Features
Interior Features
  • Levels: Two
  • Cooling: Central Air
  • Cooling Type: Central
  • Heating: None
  • Heating Type: None
  • Equipment: None
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 06-03-2024
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,056.00
  • Unit Actual Rent: $1,056.00
  • Unit Projected Rent: $.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,088.00
  • Unit Actual Rent: $1,088.00
  • Unit Projected Rent: $.00
  • Like Units: 7
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,250.00
  • Unit Actual Rent: $2,250.00
  • Unit Projected Rent: $.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $1,373.00
  • Unit Actual Rent: $1,373.00
  • Unit Projected Rent: $.00
  • Like Units: 5
Unit 5 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $1,379.00
  • Unit Actual Rent: $1,379.00
  • Unit Projected Rent: $.00
  • Like Units: 4
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $730,568.00
  • Assessed Improvement Percent: 18.81
  • Assessed Land Value: $3,153,535.00
  • Assessed Land Percent: 81.19
  • Assessed Total Value: $3,884,103.00

Property History for 1929 Arlington 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 1929 Arlington Avenue

Taxable ValueLand$3,216,605Additions$745,179Total$3,961,784
Tax Record2024$49,801 ($4,150 / month)
Home Facts
Total Finished SqFt14,042 SqFtAbove Grade Finished SqFt14,042 SqFtLot Size12,899 SqFtStyleMulti-Family Res (5+ Units)Year Built1964ZoningLAR3CountyLOS ANGELESAPN5060-031-022

Schools near 1929 Arlington Avenue

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 8
Rating
School
Distance
Pio Pico Middle School
Public6 to 8

Los Angeles Senior High School
Public9 to 12

Global Education Academy Middle School
Charter6 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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1929 Arlington Avenue is a multi-family home for sale in Los Angeles, CA 90018. This property was listed for sale on June 3, 2024 by Keller Williams Realty Calabasas, it's currently listed at $3,794,000. It has been on the market for a total of 168 days and was last sold on February 14, 2020. This listing's school district is Los Angeles Unified School District. Nearby schools include Carson-Gore Academy Of Enviornmental Studies, Pio Pico Middle School and Los Angeles Senior High School. 1929 Arlington Avenue is a 27-bed, 24-bath, 14,042 sqft multi-family home built in 1964.

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 Keller Williams Realty Calabasas, Hirsch Sherman, DRE #00710184

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.