4077 West 23rd Street

Los Angeles, CA 90018

$2,800,000
Price
—
Beds
8,199 Sq. Ft.
$342 / Sq. Ft.
8,199
Sq. Ft.
$342
per Sq. Ft.

Description

Offered for the 1st time in 21 years, this is a rare opportunity to own a fully occupied 12 unit apartment building situated on slightly more than 1/2 acre lot, with loads of off street parking. The property is within a rent-controlled zone. However, having two separate buildings presents the opportunity to make comprehensive upgrades, one building at a time, bringing rents up to market scale when done. Recent renovations in some units include new flooring, updated kitchens, and modern bathrooms....Offered for the 1st time in 21 years, this is a rare opportunity to own a fully occupied 12 unit apartment building situated on slightly more than 1/2 acre lot, with loads of off street parking. The property is within a rent-controlled zone. However, having two separate buildings presents the opportunity to make comprehensive upgrades, one building at a time, bringing rents up to market scale when done. Recent renovations in some units include new flooring, updated kitchens, and modern bathrooms. Mid-City LA is renowned for its historical significance and vibrant cultural scene. As part of the "West Adams" district, this area is home to numerous historic landmarks and has a rich architectural heritage. This neighborhood has been a focal point for cultural development, attracting a diverse community that values both its history and its evolving urban landscape. This property is strategically positioned near key business and cultural hubs. Only 6 miles from Downtown provides easy access to financial and business districts. USC is just over 5 miles away. The close proximity to major transportation routes, including the Metro Expo Line, ensures excellent connectivity across LA. And LAX is just 10 miles away. This property which seldom has vacancies, was tied up in Probate 5 years, missing out on rent price increases that entire time. When a savvy investor rehabs the property, enhancing efficiencies & bringing it to current building standards, there will be tremendous upside in both income and market value.
  1. Listed by Wendy Ross • DRE #01449478 • Brokerage DRE #01449478 • Wendy Hooper Ross, Broker • 949-870-2424

Property Details for 4077 West 23rd Street

Parking Spaces Total
12
Total Units
12.0
Lot Size Source
Assessor
Building Area Total
8199
Building Area Units
Square Feet
Stories Total
2
Entry Level
1
Parcel Number
5060011001
LISTING UPDATED: 12/12/2024 07:15 AM

Property Details for 4077 West 23rd Street

StatusPending
MLS #NP24164220
Days on Market106
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeCommercial Sale / Multi Family
Year Built1947
Lot Size0.55 AC / 24,130 SF
CountyLos Angeles County

Building Information for 4077 West 23rd Street

Stories2Residences-Year Built1947Building Size-Lot Size0.55 AC / 24,130 SF

Property Information for 4077 West 23rd Street

Income / Expense / Tax Details
Income Details
  • Gross Scheduled Income: $169,745
  • Net Operating Income: $129,522
  • Laundry Income: $2,600
  • Cap Rate: 4.63
  • Current Financing: Other
Expense Details
  • Operating Expense: $42,823
  • Expense Year: $2,024
  • Insurance Expense: $2,952
  • Maintenance Expense: $20,700
  • Professional Management Expense: $6,406
  • Trash Expense: $5,848
  • Real Estate Tax Expense: $15,951
  • Total Expenses: $42,823
Tax / Assessment Info
  • Tax Year: 2023
  • Tax Annual Amount: $15,951
Community / Development
Community / Development
  • Investment Property: Yes
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area, Community
  • Laundry Equipment Own Lease: Own
  • Cooling: Wall/Window Unit(s)
  • Heating: Wall Furnace
Exterior Features
  • Security Features: Security Lights, Smoke Detector(s)
  • Construction Materials: Stucco
  • Roof: Composition
  • Fence: Yes
  • Fencing: Poor Condition, Wood
Land/Lot Info
  • Sign on Property: No
  • Lot Features: 21-25 Units/Acre, Lawn, Lot 20000-39999 Sqft, Irregular Lot, Level, Near Public Transit, Walkstreet
  • Land Use: Multi-Family
  • Land Lease: No
  • Utilities: Electricity Connected, Natural Gas Connected
  • Electric: Electricity - On Property
  • Water Source: Public
Parking Info
  • Uncovered Spaces: 12
  • Carport Spaces: 0
Property / Structure Info
  • Building Status: Existing
  • Building Features: Living Quarters
  • Asset Class: Multi-Family
Unit Information
Unit 1
  • Unit Type Units Total: 12
  • Unit Type Beds Total: 13
  • Unit Type Baths Total: 12
  • Unit Type Type: 1
Unit Information
  • Number Of Buildings: 2

Property History for 4077 West 23rd 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 4077 West 23rd Street

Taxable ValueLand$836,344Additions$362,410Total$1,198,754
Tax Record2024$16,233 ($1,353 / month)
Home Facts
Total Finished SqFt8,199 SqFtAbove Grade Finished SqFt8,199 SqFtLot Size24,123 SqFtStyleMulti-Family Res (5+ Units)Year Built1947ZoningLARD2CountyLOS ANGELESAPN5060-011-001

Schools near 4077 West 23rd 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 - K to 5
Rating
School
Distance
Arlington Heights Elementary School
PublicK to 5

Johnnie Cochran, Jr., Middle School
Public6 to 8

Los Angeles Senior High School
Public9 to 12

Global Education Academy 2
CharterK to 5

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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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 Wendy Hooper Ross, Broker, Wendy Ross, DRE #01449478

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.