438 East 56th Street

Los Angeles, CA 90011

$1,349,000
Price
7
Beds
4
Baths
2,219 Sq. Ft.
$608 / Sq. Ft.
2,219
Sq. Ft.
$608
per Sq. Ft.

Description

Introducing this amazing 4 unit multifamily property in turnkey condition in the South Park neighborhood of Los Angeles. Two buildings sit on the lot which are comprised of two duplexes: 'structure one' is completely brand-new construction and 'structure two' is a meticulously "studs up" renovation. The front structure underwent a complete overhaul and now consists of two modern 2 bd + 1 ba units. The rear structure is brand new construction with a mix of one 2 bd + 1 ba and one 1 bd + 1 ba ADUs....Introducing this amazing 4 unit multifamily property in turnkey condition in the South Park neighborhood of Los Angeles. Two buildings sit on the lot which are comprised of two duplexes: 'structure one' is completely brand-new construction and 'structure two' is a meticulously "studs up" renovation. The front structure underwent a complete overhaul and now consists of two modern 2 bd + 1 ba units. The rear structure is brand new construction with a mix of one 2 bd + 1 ba and one 1 bd + 1 ba ADUs. All units are separately metered for all utilities (water sub-metering) and include open floor plans, modern kitchens, air conditioning and hard wood flooring. Its central location provides investors an extensive tenant pool. USC is a short 3 mile drive, Downtown LA is minutes to the North and access to the 110 Freeway is less than a mile away.
  1. Listed by Enrique Viramontes • DRE #01372010 • Brokerage DRE #01164364 • Remax Commercial and Investment Realty

Property Details for 438 East 56th Street

Zoning
LAR2
Parcel Number
5101004022
Total Units
4.0
Living Area
2219
Source Living Area
Builder
Area
Downtown L.A. (C42)
Vacancy Rate
3%
Lot Size Area
5093
LISTING UPDATED: 11/06/2024 12:21 PM

Property Details for 438 East 56th Street

StatusActive
MLS #24-377657
Days on Market188
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built2024
Lot Size0.12 AC / 5,093 SF
CountyLos Angeles County

Building Information for 438 East 56th Street

Stories1Residences-Year Built2024Building Size-Lot Size0.12 AC / 5,093 SF

Property Information for 438 East 56th Street

Community / Development
Community / Development
  • Number Of Units: 4
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Builder
  • Number Of Stories: 1
  • Number Of Buildings: 2
  • 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: $133,103
  • Net Operating Income: $104,431.00
  • Gross Income: $137,220
  • Cap Rate: 7.74%
  • Gross Rent Multiplier: $9.83
  • Total Annual Expense: 28673
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.117
  • Lot Size Square Feet: 5093
  • Lot Size Dimensions: 40x127
  • Source Lot Size Dimensions: Vendor Enhanced
Parking Details
Parking Details
  • Parking Garage: Driveway
  • Total Parking: 0
  • Parking Features: Driveway
Interior Features
Interior Features
  • Levels: One
  • Cooling Type: Air Conditioning
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Other
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 04-08-2024
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $3,012.00
  • Unit Actual Rent: $9,035.00
  • Unit Projected Rent: $9,150.00
  • Like Units: 3
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,400.00
  • Unit Actual Rent: $2,400.00
  • Unit Projected Rent: $2,400.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $74,294.00
  • Assessed Improvement Percent: 40.24
  • Assessed Land Value: $110,343.00
  • Assessed Land Percent: 59.76
  • Assessed Total Value: $184,637.00

Property History for 438 East 56th 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 438 East 56th Street

Taxable ValueLand$392,000Additions$98,000Total$490,000
Tax Record2024$6,151 ($513 / month)
Home Facts
Beds2Total Finished SqFt1,100 SqFtAbove Grade Finished SqFt1,100 SqFtStories1Lot Size5,093 SqFtStyleSingle Family ResidenceYear Built1904ZoningLAR2CountyLOS ANGELESAPN5101-004-022

Schools near 438 East 56th 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
Estrella Elementary School
PublicK to 5

Los Angeles Academy Middle
Public6 to 8

Nava College Preparatory Academy
Public9 to 12

Thomas Jefferson Senior High School
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

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

438 East 56th Street is a multi-family home for sale in Los Angeles, CA 90011. This property was listed for sale on April 8, 2024 by Remax Commercial and Investment Realty, it's currently listed at $1,349,000. It has been on the market for a total of 188 days and was last sold on July 12, 2023. This listing's school district is Los Angeles Unified School District. Nearby schools include Estrella Elementary School, Los Angeles Academy Middle and Nava College Preparatory Academy. 438 East 56th Street is a 7-bed, 4-bath, 2,219 sqft multi-family home built in 2024.

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.