281 East 48th Street

Los Angeles, CA 90011

$799,000
Price
4
Beds
2
Baths
1,790 Sq. Ft.
$446 / Sq. Ft.
1,790
Sq. Ft.
$446
per Sq. Ft.

Description

Investor's Dream in Los Angeles! Unlock the full potential of this rare gem featuring two separate homes on one lot, complete with a detached garage. Perfectly designed for generating multiple streams of income or expanding your rental portfolio. The front house is move-in ready, ensuring premium rental or resale value. The rear unit, offering 2 bedrooms and 1 bath, is ideal for consistent rental income, or housing extended family. Maximize your ROI by living in one home while renting the other,...Investor's Dream in Los Angeles! Unlock the full potential of this rare gem featuring two separate homes on one lot, complete with a detached garage. Perfectly designed for generating multiple streams of income or expanding your rental portfolio. The front house is move-in ready, ensuring premium rental or resale value. The rear unit, offering 2 bedrooms and 1 bath, is ideal for consistent rental income, or housing extended family. Maximize your ROI by living in one home while renting the other, or rent both and enjoy steady cash flow in one of LA's most sought-after neighborhoods. Don't miss this exceptional opportunity to combine comfort and financial flexibility in the heart of the city! Whether you're a seasoned investor or just starting, this property is a prime addition to your portfolio.
  1. Listed by Travis Justice • DRE #02071111 • Brokerage DRE #02071111 • Altura Realty

Property Details for 281 East 48th Street

Zoning
LAR2
Style
Traditional
Parcel Number
5109009002
Total Units
2.0
Living Area
1790
Source Living Area
Vendor Enhanced
Area
Downtown L.A. (C42)
Vacancy Rate
0
LISTING UPDATED: 11/13/2024 12:01 AM

Property Details for 281 East 48th Street

StatusActive
MLS #24-460099
Days on Market12
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1913
Lot Size0.12 AC / 5,242 SF
CountyLos Angeles County

Building Information for 281 East 48th Street

Stories1Residences-Year Built1913Building Size-Lot Size0.12 AC / 5,242 SF

Property Information for 281 East 48th Street

Community / Development
Community / Development
  • Number Of Units: 2
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 1
  • Number Of Buildings: 2
  • Type Of Units: 2
  • Security Features: None
  • Water Heaters: Yes
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: $54,000
  • Net Operating Income: $4,500.00
  • Gross Income: $4,500
  • Gross Rent Multiplier: $14.70
  • Actual Annual Gross Rent: $54,000.00
  • Actual Rent Total: $4,500.00
  • Total Annual Expense: 0
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1203
  • Lot Size Square Feet: 5242
  • Lot Size Dimensions: 40x130
  • Source Lot Size Dimensions: Vendor Enhanced
Parking Details
Parking Details
  • Parking Garage: Driveway
  • Total Parking: 2
  • Parking Features: Driveway
Interior Features
Interior Features
  • Levels: One
  • Cooling Type: Air Conditioning
  • Heating: Central
  • Heating Type: Central
  • Equipment: None
Exterior Features
Exterior Features
  • New Construction: No
  • Foundation Details: FHA Approved
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 11-05-2024
  • Tenant Pays: Gas, Electricity
Unit Details
Unit 1 Information
  • Unit Beds: 3
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $3,000.00
  • Unit Actual Rent: $3,000.00
  • Unit Projected Rent: $3,250.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,500.00
  • Unit Actual Rent: $1,500.00
  • Unit Projected Rent: $3,000.00
  • Like Units: 2
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $142,568.00
  • Assessed Improvement Percent: 37.62
  • Assessed Land Value: $236,439.00
  • Assessed Land Percent: 62.38
  • Assessed Total Value: $379,007.00

Property History for 281 East 48th 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 281 East 48th Street

Taxable ValueLand$510,000Additions$170,000Total$680,000
Tax Record2024$8,506 ($709 / month)
Home Facts
Total Finished SqFt1,702 SqFtAbove Grade Finished SqFt1,702 SqFtLot Size5,179 SqFtStyleDuplexYear Built1922ZoningLAR2CountyLOS ANGELESAPN5109-009-022

Schools near 281 East 48th 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
Public - 9 to 12
Rating
School
Distance
Main Street Elementary School
PublicK to 5

Los Angeles Academy Middle
Public6 to 8

Thomas Jefferson Senior High School
Public9 to 12

Nava College Preparatory Academy
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.

Similar Homes

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Similar Sold Homes

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281 East 48th Street is a multi-family home for sale in Los Angeles, CA 90011. This property was listed for sale on November 5, 2024 by Altura Realty, it's currently listed at $799,000. It has been on the market for a total of 12 days and was last sold on December 20, 2023. This listing's school district is Los Angeles Unified School District. Nearby schools include Main Street Elementary School, Los Angeles Academy Middle and Thomas Jefferson Senior High School. 281 East 48th Street is a 4-bed, 2-bath, 1,790 sqft multi-family home built in 1913.

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 Altura Realty, Travis Justice, DRE #02071111

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.