3018 West 67th Street

Los Angeles, CA 90043

$6,750,000
Price
62
Beds
37
Baths
29,504 Sq. Ft.
$229 / Sq. Ft.
29,504
Sq. Ft.
$229
per Sq. Ft.

Description

This property is available for purchase independently or as part of a 4 property, 118 unit portfolio. Introducing, for the first time on market in over 20 years, a unique opportunity to purchase this four multifamily property portfolio comprised of 118 units in the heart of Los Angeles. The collection includes four large properties that sit on a total of seven parcels and almost 100K sf of land. Each building ranges from 17 to 50 units and has plenty of onsite parking, independent meters for gas...This property is available for purchase independently or as part of a 4 property, 118 unit portfolio. Introducing, for the first time on market in over 20 years, a unique opportunity to purchase this four multifamily property portfolio comprised of 118 units in the heart of Los Angeles. The collection includes four large properties that sit on a total of seven parcels and almost 100K sf of land. Each building ranges from 17 to 50 units and has plenty of onsite parking, independent meters for gas and electricity, and various recent upgrades. The economics of the offering show immediate returns at the current income level. However, with market rents continuing in an upward trend, an aggressive management approach may realize the 75% upside in rental income over the holding period. South Los Angeles is one of the most resilient markets in the region with historical low vacancy rates and consistent rent growth over the same period. Section 8 vouchers are currently at $3,915 for 3-bedroom units, $3,052 for 2-bedroom units, $2,407 for 1-bedroom units, and $2,132 for studio units. The properties are strategically located near access to major freeways, employment, entertainment, and transportation options. SoFi Stadium (LA Rams), the new Intuit Dome (LA Clippers), BMO Stadium (Angel City FC), Los Angeles International Airport, are all within minutes of any of the subject properties.
  1. Listed by Enrique Viramontes • DRE #01372010 • Brokerage DRE #01164364 • Remax Commercial and Investment Realty

Property Details for 3018 West 67th Street

Zoning
LAR3
Parcel Number
4008011001
Total Units
35.0
Living Area
29504
Source Living Area
Title Company
Area
Park Hills Heights (PHHT)
Vacancy Rate
1%
Lot Size Area
30388
LISTING UPDATED: 08/22/2024 01:07 PM

Property Details for 3018 West 67th Street

StatusActive
MLS #24-430981
Days on Market85
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1963
Lot Size0.70 AC / 30,388 SF
CountyLos Angeles County

Building Information for 3018 West 67th Street

Stories3Residences-Year Built1963Building Size-Lot Size0.70 AC / 30,388 SF

Property Information for 3018 West 67th Street

Community / Development
Community / Development
  • Number Of Units: 35
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 3
  • Number Of Buildings: 1
  • Type Of Units: Apartment
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $593,459
  • Net Operating Income: $340,969.00
  • Gross Income: $599,454
  • Cap Rate: 5.05%
  • Gross Rent Multiplier: $11.26
  • Total Annual Expense: 252491
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.6978
  • Lot Size Square Feet: 30388
Parking Details
Parking Details
  • Parking Garage: Assigned
  • Total Parking: 35
  • Parking Features: Assigned
Interior Features
Interior Features
  • Levels: Three Or More
  • Cooling Type: Ceiling Fan
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: None
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 08-22-2024
Unit Details
Unit 1 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $1,777.00
  • Unit Actual Rent: $3,553.00
  • Unit Projected Rent: $7,830.00
  • Like Units: 2
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,346.00
  • Unit Actual Rent: $30,957.00
  • Unit Projected Rent: $70,196.00
  • Like Units: 23
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,495.00
  • Unit Actual Rent: $14,945.00
  • Unit Projected Rent: $24,070.00
  • Like Units: 10
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $1,157,573.00
  • Assessed Improvement Percent: 29.96
  • Assessed Land Value: $2,706,371.00
  • Assessed Land Percent: 70.04
  • Assessed Total Value: $3,863,944.00

Property History for 3018 West 67th 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 3018 West 67th Street

Taxable ValueLand$2,760,498Additions$1,191,224Total$3,951,722
Tax Record2024$51,541 ($4,295 / month)
Home Facts
Total Finished SqFt29,504 SqFtAbove Grade Finished SqFt29,504 SqFtLot Size30,388 SqFtStyleMulti-Family Res (5+ Units)Year Built1963ZoningLAR3CountyLOS ANGELESAPN4008-011-001

Schools near 3018 West 67th Street

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Charter - 6 to 8
Public - 9 to 12
Charter - 9 to 12
Rating
School
Distance
Yes Academy
PublicK to 5

Alliance Leadership Middle Academy
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.

Similar Homes

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3018 West 67th Street is a multi-family home for sale in Los Angeles, CA 90043. This property was listed for sale on August 22, 2024 by Remax Commercial and Investment Realty, it's currently listed at $6,750,000. It has been on the market for a total of 85 days and was last sold on September 17, 2004. This listing's school district is Los Angeles Unified School District. Nearby schools include Yes Academy, Alliance Leadership Middle Academy and Crenshaw Science, Technology, Engineering, Math And Medicine Magnet. 3018 West 67th Street is a 62-bed, 37-bath, 29,504 sqft multi-family home built in 1963.

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 Remax Commercial and Investment Realty, Enrique Viramontes, DRE #01372010

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.