207 North Savannah Street

Los Angeles, CA 90033

$2,300,000
Price
26
Beds
17
Baths
11,170 Sq. Ft.
$206 / Sq. Ft.
11,170
Sq. Ft.
$206
per Sq. Ft.

Description

Do Not Walk the Property or Disrupt Tenants. Contact Listing Team for Property Showing Instructions. We are pleased to present for sale a unique value-add opportunity located at 207 North Savannah Street. The 17-unit building is comprised of three studio units, two one-bedroom/one-bath units, and twelve two-bedroom/one-bath units. This property is located in the Boyle Heights neighborhood, which is minutes east of Downtown Los Angeles and The Arts District. This property sits on North Savannah Street,...Do Not Walk the Property or Disrupt Tenants. Contact Listing Team for Property Showing Instructions. We are pleased to present for sale a unique value-add opportunity located at 207 North Savannah Street. The 17-unit building is comprised of three studio units, two one-bedroom/one-bath units, and twelve two-bedroom/one-bath units. This property is located in the Boyle Heights neighborhood, which is minutes east of Downtown Los Angeles and The Arts District. This property sits on North Savannah Street, between Cesar Chavez Avenue and 1st Street, just west of Evergreen Avenue. Tenants of the building benefit from immediate access to the 10-freeway, and less than a 14-minute bike ride to the Art's District of Downtown Los Angeles. Additionally, the Gold Line Station at Soto Street is only a 10-minute walk and gives access to employment hubs throughout Los Angeles MSA. The Sixth Street Viaduct opened to the public in July 2022 and adds another thoroughfare into the Arts District. The $588 million-dollar project crosses over a new public park. The much-discussed effort to restore the Los Angeles River continues to drive new development in the surrounding neighborhoods as eight firms compete to restore the section of the river that runs between Downtown Los Angeles and Boyle Heights. This property offers an investor the rare opportunity to acquire a mid-century constructed asset at an extremely favorable basis of $135,294 per Unit for mostly two-bedroom units, with on-site parking.
  1. Listed by Sean Rosenzweig • DRE #01406343 • Brokerage DRE #01238010 • Marcus & Millichap

Property Details for 207 North Savannah Street

Zoning
LAR2
Parcel Number
5180015028
Total Units
17.0
Living Area
11170
Source Living Area
Assessor
Area
Boyle Heights (BOYH)
Vacancy Rate
0
Lot Size Area
14285
LISTING UPDATED: 10/07/2024 09:56 AM

Property Details for 207 North Savannah Street

StatusActive
MLS #24-445363
Days on Market46
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1932
Lot Size0.33 AC / 14,285 SF
CountyLos Angeles County

Building Information for 207 North Savannah Street

Stories2Residences-Year Built1932Building Size-Lot Size0.33 AC / 14,285 SF

Property Information for 207 North Savannah Street

Community / Development
Community / Development
  • Number Of Units: 17
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 2
  • Number Of Buildings: 2
  • Type Of Units: Residential
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: $219,439
  • Net Operating Income: $104,744.00
  • Gross Income: $209,551
  • Cap Rate: 4.55%
  • Gross Rent Multiplier: $10.98
  • Total Annual Expense: 114694
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.328
  • Lot Size Square Feet: 14285
Parking Details
Parking Details
  • Parking Garage: Gated, Covered Parking
  • Total Parking: 17
  • Parking Features: Gated, Covered
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Other
  • Heating Type: Other
  • Equipment: Other
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 09-27-2024
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $796.00
  • Unit Actual Rent: $2,388.00
  • Unit Projected Rent: $4,050.00
  • Like Units: 3
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $987.00
  • Unit Actual Rent: $1,974.00
  • Unit Projected Rent: $3,900.00
  • Like Units: 2
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,092.00
  • Unit Actual Rent: $13,101.00
  • Unit Projected Rent: $29,400.00
  • Like Units: 12
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $1,287,692.00
  • Assessed Improvement Percent: 44.95
  • Assessed Land Value: $1,576,767.00
  • Assessed Land Percent: 55.05
  • Assessed Total Value: $2,864,459.00

Property History for 207 North Savannah 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 207 North Savannah Street

Taxable ValueLand$1,608,302Additions$1,314,125Total$2,922,427
Tax Record2024$36,934 ($3,078 / month)
Home Facts
Total Finished SqFt11,170 SqFtAbove Grade Finished SqFt11,170 SqFtLot Size14,285 SqFtStyleMulti-Family Res (5+ Units)Year Built1910ZoningLAR2CountyLOS ANGELESAPN5180-015-028

Schools near 207 North Savannah Street

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

Extera Public Schools
CharterK to 8

Theodore Roosevelt Senior High
Public9 to 12

Felicitas And Gonzalo Mendez High
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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207 North Savannah Street is a multi-family home for sale in Los Angeles, CA 90033. This property was listed for sale on September 16, 2024 by Marcus & Millichap, it's currently listed at $2,300,000. It has been on the market for a total of 46 days and was last sold on February 21, 2020. This listing's school district is Los Angeles Unified School District. Nearby schools include First Street Elementary School, Extera Public Schools and Theodore Roosevelt Senior High. 207 North Savannah Street is a 26-bed, 17-bath, 11,170 sqft multi-family home built in 1932.

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 Marcus & Millichap, Sean Rosenzweig, DRE #01406343

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.