2632-2644 7th Avenue

Los Angeles, CA 90018

$2,500,000
Price
12
Beds
16
Baths
10,112 Sq. Ft.
$247 / Sq. Ft.
10,112
Sq. Ft.
$247
per Sq. Ft.

Description

With a 99% upside potential on current rents, this property offers exceptional prospects for rental income growth. Coupled with a strong going-in basis and a low price per unit, 2632 - 2640 7th Avenue presents a valuable investment opportunity with significant potential for financial returns and long-term appreciation. Capital improvements include updated electrical (2023). The inclusion of washer and dryer hookups, and ample parking adds to the appeal for prospective tenants. The neighborhood is...With a 99% upside potential on current rents, this property offers exceptional prospects for rental income growth. Coupled with a strong going-in basis and a low price per unit, 2632 - 2640 7th Avenue presents a valuable investment opportunity with significant potential for financial returns and long-term appreciation. Capital improvements include updated electrical (2023). The inclusion of washer and dryer hookups, and ample parking adds to the appeal for prospective tenants. The neighborhood is located in the city's central region, between Hancock Park and Miracle Mile, and is bordered by West Third Street,LaBrea Avenue, Wilshire Boulevard, Crenshaw Boulevard, Pico Boulevard, and Fairfax Avenue. Reach out today for more information.
  1. Listed by Douglas Steinriede • DRE #00284936 • Brokerage DRE #00284936 • Dover Management Corp.

Property Details for 2632-2644 7th Avenue

Water Front
None
Zoning
LAR3
Cross Streets
7th Avenue and W. 27th Street
Parcel Number
5051001014
Total Units
16.0
Living Area
10112
Source Living Area
Other
Area
Mid Los Angeles (C16)
LISTING UPDATED: 11/22/2024 04:57 PM

Property Details for 2632-2644 7th Avenue

StatusActive
MLS #24-466507
Days on Market104
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1941
Lot Size0.30 AC / 13,205 SF
CountyLos Angeles County

Building Information for 2632-2644 7th Avenue

Stories2Residences-Year Built1941Building Size-Lot Size0.30 AC / 13,205 SF

Property Information for 2632-2644 7th Avenue

Community / Development
Community / Development
  • Number Of Units: 16
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 2
  • Type Of Units: Apartment
  • Entry Floor Number: 1
  • Security Features: Other
Contract Info
Contract Info
  • Probate: Yes
  • Disclosures: Probate, Court Approval Required, Other, Subject To Other
  • Listing Type: Probate
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $192,980
  • Net Operating Income: $110,731.00
  • Gross Income: $198,948
  • Gross Rent Multiplier: $12.57
  • Total Annual Expense: 82249
Land / Lot Info
Land / Lot Info
  • Additional Parcel Number: Yes
  • Paved: Yes
  • Lot Acreage: 0.1516
  • Lot Size Square Feet: 13205
  • Lot Description: 2-4 Lots, Sidewalks
Parking Details
Parking Details
  • Parking Garage: Parking Space, Private, Driveway
  • Total Parking: 0
  • Parking Features: Parking Space, Private, Driveway
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: 11-22-2024
  • Listing Terms: Probate
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,069.00
  • Unit Actual Rent: $12,831.00
  • Unit Projected Rent: $26,400.00
  • Like Units: 12
Unit 2 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $937.00
  • Unit Actual Rent: $3,748.00
  • Unit Projected Rent: $6,600.00
  • Like Units: 4
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $66,186.00
  • Assessed Improvement Percent: 71.7
  • Assessed Land Value: $26,119.00
  • Assessed Land Percent: 28.3
  • Assessed Total Value: $92,305.00

Property History for 2632-2644 7th Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 2632-2644 7th 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 - 9 to 12
Rating
School
Distance
Sixth Avenue Elementary School
PublicK to 5

Johnnie Cochran, Jr., Middle School
Public6 to 8

Susan Miller Dorsey Senior High School
Public9 to 12

Math And Science College Preparatory
Charter9 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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2632-2644 7th Avenue is a multi-family home for sale in Los Angeles, CA 90018. This property was listed for sale on August 11, 2024 by Dover Management Corp., it's currently listed at $2,500,000. This listing's school district is Los Angeles Unified School District. Nearby schools include Sixth Avenue Elementary School, Johnnie Cochran, Jr., Middle School and Susan Miller Dorsey Senior High School. 2632-2644 7th Avenue is a 12-bed, 16-bath, 10,112 sqft multi-family home built in 1941.

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 Dover Management Corp., Douglas Steinriede, DRE #00284936

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.