4272 Florence Avenue
Description
The Northern half of the property is Zoned C-3R and the Southern 1/2 is zoned R3. The City Planing Department indicated that 24 Apartment units can be built on the site. Buyer to verify. This property has the same size lot and same zoning as the property located at 4324 Florence Blvd. . 4324 Florence blvd. is a 72 unit 46,399 sq. ft....Dramatic $500k price reduction! This is a Street to Street lot from Florence Ave. To Walnut St. Consisting of 35,728 sq.ft.. 105 feet of street frontage on Florence
The Northern half of the property is Zoned C-3R and the Southern 1/2 is zoned R3. The City Planing Department indicated that 24 Apartment units can be built on the site. Buyer to verify. This property has the same size lot and same zoning as the property located at 4324 Florence Blvd. . 4324 Florence blvd. is a 72 unit 46,399 sq. ft. property which is being run as a Senior Apartment Complex
4272 Florence Blvd. currently has just over 12,000 sq.ft of mixed use building built around 1920. 11.73 GRM at Market Rents
There is a single story 8,675 sq. Ft (which also has an additional 3,100 sq. Of mezzanine storage space). The 8,675 sq. Ft building fronts Florence Ave and features 5 retail storefront units and 2 units that are rented as residential rental units. Then there is a 4 bedroom + 2 bath 2,100 sq.ft. house on Walnut St. Finally, a stand alone 2 story house of about 1,260 sq. Ft. Currently, total rent is a very low $9,410/mo
The LA County property tax assessor recently appraised the property at $3.1M for property tax purposes.
- Listed by Michael Millea • DRE #01069014 • Brokerage DRE #01972083 • Lyon Stahl Investment Real Estate, Inc. • 310-233-2800
Property Details for 4272 Florence Avenue
Property Details for 4272 Florence Avenue
| Status | Active |
|---|---|
| MLS # | SB24213441 |
| Days on Market | 49 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Mixed Use |
| MLS Type | Residential Income |
| Year Built | 1920 |
| Lot Size | 0.82 AC / 35,736 SF |
| County | Los Angeles County |
Building Information for 4272 Florence Avenue
Property Information for 4272 Florence Avenue
- Tenant Pays: Gas, Water
- Gross Income: $112,920
- Gross Scheduled Income: $112,920
- Vacancy Allowance: 3388
- Gross Operating Income: $109,532
- Net Operating Income: $45,004
- Gross Multiplier: 17.67
- Cap Rate: 2.26
- Operating Expense: $64,528
- New Taxes Expense: $33,090
- Gardener Expense: $900
- Fuel Expense: $0
- Electric Expense: $900
- Insurance Expense: $12,065
- Maintenance Expense: $6,572
- Maintenance Percent: 6.00%
- Professional Management Expense: $5,477
- Other Expense: $1,000
- Other Expense Description: Misc.
- Trash Expense: $2,525
- Water Sewer Expense: $4,000
- Total Expenses: $64,528
- Tax Block: Y
- Tax Tract Number: 349
- Tax Census Tract: 5336.03
- Tax Lot: 22
- Community Features: Sidewalks
- Laundry: No
- Laundry Features: None
- Entry Location: Front Door
- Pool Features: None
- Pool Description: None
- Lot Features: Level with Street, Rectangular Lot, Level, Near Public Transit
- Number Of Units: 9
- Land Lease: No
- Land Lease Type: Fee
- Water: Public
- Sewer: Public Sewer
- Water Source: Public
- Garage Spaces: 2
- Parking Garage Spaces: 2
- Carport Spaces: 0
- Unit Type Units Total: 1
- Unit Type Beds Total: 4
- Unit Type Baths Total: 2
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 1
- Unit Type Garage Attached: Yes
- Unit Type Actual Rent: $1,900
- Unit Type Total Rent: $1,900
- Unit Type Pro Forma: 3500
- Unit Type Type: 1
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Garage Attached: No
- Unit Type Actual Rent: $1,125
- Unit Type Total Rent: $1,125
- Unit Type Pro Forma: 1750
- Unit Type Type: 2
- Unit Type Units Total: 1
- Unit Type Beds Total: 3
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Garage Attached: No
- Unit Type Actual Rent: $1,400
- Unit Type Total Rent: $1,400
- Unit Type Pro Forma: 2650
- Unit Type Type: 3
- Unit Type Units Total: 6
- Unit Type Beds Total: 0
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Garage Attached: No
- Unit Type Actual Rent: $4,935
- Unit Type Total Rent: $4,935
- Unit Type Pro Forma: 6275
- Unit Type Type: 4
- Rent Controlled: Yes
- Number Of Buildings: 3
- Number Of Separate Electric Meters: 10
- Number Of Separate Gas Meters: 1
- Number Of Separate Water Meters: 1
Property History for 4272 Florence Avenue
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 4272 Florence Avenue
Schools near 4272 Florence Avenue
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 6 | |||
| Public - | K to 12 | |||
| Public - | 9 to 12 | |||
| Public - | 9 to 12 |
Rating | School | Distance |
|---|---|---|
Jaime Escalante Elementary School PublicK to 6 | ||
Elizabeth Learning Center PublicK to 12 | ||
Maywood Academy High 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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Listing Courtesy of Lyon Stahl Investment Real Estate, Inc., Michael Millea, DRE #01069014
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.