2343 Scarff Street

Los Angeles, CA 90007

$7,895,000
Price
34
Beds
32
Baths
21,770 Sq. Ft.
$363 / Sq. Ft.
21,770
Sq. Ft.
$363
per Sq. Ft.

Description

Discover an exceptional investment opportunity with this prime building located just a short walk from the prestigious University of Southern California. This well-maintained property features 31 units, comprising 18 one-bedroom apartments, 12 studio units, and a spacious four-bedroom, two-bathroom additional dwelling unit, catering to a diverse range of tenant needs. Currently generating over $55,000 in monthly income, this property boasts an impressive 6.20% CAP rate and an 11.63 GRM, making it...Discover an exceptional investment opportunity with this prime building located just a short walk from the prestigious University of Southern California. This well-maintained property features 31 units, comprising 18 one-bedroom apartments, 12 studio units, and a spacious four-bedroom, two-bathroom additional dwelling unit, catering to a diverse range of tenant needs. Currently generating over $55,000 in monthly income, this property boasts an impressive 6.20% CAP rate and an 11.63 GRM, making it a lucrative addition to any portfolio. The property is professionally managed and is fully occupied for the 2024-2025 USC school year, ensuring a steady income stream. Additionally, the property holds a Mills Act designation, providing significant property tax savings that enhance its investment potential.
  1. Listed by Michael R. Fukushima • DRE #01380445 • Brokerage DRE #00752861 • Keller Williams Realty Downey
  2. Listed by Stephen F. Watson • DRE #01187813 • Brokerage DRE #00752861 • Keller Williams Realty Downey

Property Details for 2343 Scarff Street

Zoning
LARD1.5
Parcel Number
5124012021
Total Units
31.0
Living Area
21770
Source Living Area
Vendor Enhanced
Area
Downtown L.A. (C42)
Vacancy Rate
2%
Lot Size Area
8782
LISTING UPDATED: 11/05/2024 12:01 AM

Property Details for 2343 Scarff Street

StatusActive
MLS #24-457811
Days on Market24
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1910
Lot Size0.20 AC / 8,782 SF
CountyLos Angeles County

Building Information for 2343 Scarff Street

Stories3Residences-Year Built1910Building Size-Lot Size0.20 AC / 8,782 SF

Property Information for 2343 Scarff Street

Community / Development
Community / Development
  • Number Of Units: 31
  • Senior Community: No
Structure Info
Structure Info
  • Building Type: Attached
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 3
  • Number Of Buildings: 1
  • Type Of Units: Residential
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $665,181
  • Net Operating Income: $489,304.00
  • Gross Income: $678,756
  • Cap Rate: 6.20%
  • Gross Rent Multiplier: $11.60
  • Actual Annual Gross Rent: $678,756.00
  • Owner Pays: Gardener, Water
  • Total Annual Expense: 175877
Land / Lot Info
Land / Lot Info
  • Alley: Yes
  • Lot Acreage: 0.2016
  • Lot Size Square Feet: 8782
  • Lot Size Dimensions: 50x178
  • Source Lot Size Dimensions: Vendor Enhanced
Parking Details
Parking Details
  • Parking Garage: None
  • Total Parking: 0
  • Parking Features: None
Interior Features
Interior Features
  • Levels: Multi/Split, Three Or More
  • Cooling: None
  • Cooling Type: None
  • Heating: None
  • Heating Type: None
  • Equipment: Range/Oven, Refrigerator
  • Common Walls: Attached
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 10-28-2024
  • Rent Control: Yes
  • Tenant Pays: Gas, Electricity
Unit Details
Unit 1 Information
  • Unit Beds: 4
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $4,000.00
  • Unit Actual Rent: $5,000.00
  • Unit Projected Rent: $5,000.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,776.00
  • Unit Actual Rent: $31,968.00
  • Unit Projected Rent: $1,875.00
  • Like Units: 18
Unit 3 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,592.00
  • Unit Actual Rent: $21,600.00
  • Unit Projected Rent: $1,800.00
  • Like Units: 12
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $1,094,000.00
  • Assessed Improvement Percent: 30.06
  • Assessed Land Value: $2,545,000.00
  • Assessed Land Percent: 69.94
  • Assessed Total Value: $3,639,000.00

Property History for 2343 Scarff 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 2343 Scarff Street

Taxable ValueLand$2,545,000Additions$1,103,300Total$3,648,300
Tax Record2024$46,286 ($3,857 / month)
Home Facts
Total Finished SqFt21,770 SqFtAbove Grade Finished SqFt21,770 SqFtLot Size8,779 SqFtStyleMulti-Family Res (5+ Units)Year Built1910ZoningLARD1.5CountyLOS ANGELESAPN5124-012-021

Schools near 2343 Scarff 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
Norwood Street Elementary School
PublicK to 5

John Adams 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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2343 Scarff Street is a multi-family home for sale in Los Angeles, CA 90007. This property was listed for sale on October 28, 2024 by Keller Williams Realty Downey, it's currently listed at $7,895,000. It has been on the market for a total of 24 days and was last sold on March 20, 2019. This listing's school district is Los Angeles Unified School District. Nearby schools include Norwood Street Elementary School, John Adams Middle School and West Adams Preparatory High School. 2343 Scarff Street is a 34-bed, 32-bath, 21,770 sqft multi-family home built in 1910.

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 Downey, Michael R. Fukushima, DRE #01380445; Keller Williams Realty Downey, Stephen F. Watson, DRE #01187813

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.