510 East 23rd Street

Los Angeles, CA 90011

$1,149,000
Price
12
Beds
6
Baths
6,936 Sq. Ft.
$166 / Sq. Ft.
6,936
Sq. Ft.
$166
per Sq. Ft.

Description

Spectacular offering of a 12-unit building in the Historic Central submarket of Los Angeles. Just south of downtown LA, this stylish building provides the perfect opportunity to add value as well as significant upside in rents. The unit mix is 12 Single Room Occupancies (SRO) with 6 two bedroom tandem units with separate exterior entrances to the 2nd bedrooms and 6 one bedroom units. There is a large gated parking area with room for 10+ cars. Coin Laundry brings in an additional $6,302/year. Located...Spectacular offering of a 12-unit building in the Historic Central submarket of Los Angeles. Just south of downtown LA, this stylish building provides the perfect opportunity to add value as well as significant upside in rents. The unit mix is 12 Single Room Occupancies (SRO) with 6 two bedroom tandem units with separate exterior entrances to the 2nd bedrooms and 6 one bedroom units. There is a large gated parking area with room for 10+ cars. Coin Laundry brings in an additional $6,302/year. Located in the heart of the Historic Central neighborhood, just south of Downtown LA and Los Angeles, the property is near local employment, and entertainment centers such as South Park, LA Live and Crypto Arena. Also, rapidly developing areas like USC, the Arts District, Exposition Park and Koreatown. The neighborhood is considered highly walkable with easy access to freeways, shops and public transportation.
  1. Listed by Grant Linscott • DRE #01715002 • Brokerage DRE #01269474 • Keller Williams Realty Los Feliz

Property Details for 510 East 23rd Street

Zoning
LAR2
Style
Victorian
Parcel Number
5127012004
Total Units
12.0
Living Area
6936
Source Living Area
Assessor
Area
Downtown L.A. (C42)
Vacancy Rate
0%
LISTING UPDATED: 11/14/2024 02:31 PM

Property Details for 510 East 23rd Street

StatusActive
MLS #24-433997
Days on Market70
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1907
Lot Size0.19 AC / 8,494 SF
CountyLos Angeles County

Building Information for 510 East 23rd Street

Stories3Residences-Year Built1907Building Size-Lot Size0.19 AC / 8,494 SF

Property Information for 510 East 23rd Street

Community / Development
Community / Development
  • Number Of Units: 12
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 3
  • Number Of Buildings: 1
  • Type Of Units: SRO
  • View: Yes
  • View Description: City Lights, City, Hills
  • View: City Lights, Hills
  • Security Features: Gated
  • Water: In Street
  • Sewer: In Street
Contract Info
Contract Info
  • Probate: No
  • Financing: Cash To New Loan
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $137,754
  • Net Operating Income: $102,799.00
  • Gross Income: $138,792
  • Cap Rate: 8.90%
  • Gross Rent Multiplier: $8.28
  • Actual Annual Gross Rent: $138,792.00
  • Laundry Income: $6,302
  • Owner Pays: Electricity, Gas, Water
  • Total Annual Expense: 35993.84
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.195
  • Lot Size Square Feet: 8494
  • Lot Size Dimensions: 50x169
  • Source Lot Size Dimensions: Assessor
Parking Details
Parking Details
  • Parking Garage: Driveway, Gated
  • Total Parking: 10
  • Open Other Spaces Total: 10
  • Parking Features: Driveway, Gated
Interior Features
Interior Features
  • Levels: Multi/Split
  • Cooling Type: Window Unit(s)
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: None
  • Cooking Appliances: Oven
  • Laundry: Laundry Area
Exterior Features
Exterior Features
  • Pool: No
  • Private Pool: No
  • Pool Description: None
  • Pool Features: None
  • Spa: No
  • Spa: None
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 09-06-2024
  • Rent Control: Yes
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $5,570.00
  • Unit Actual Rent: $5,570.00
  • Unit Projected Rent: $11,100.00
  • Like Units: 6
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $5,471.00
  • Unit Actual Rent: $5,471.00
  • Unit Projected Rent: $9,600.00
  • Like Units: 6
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $259,924.00
  • Assessed Improvement Percent: 60.0
  • Assessed Land Value: $173,278.00
  • Assessed Land Percent: 40
  • Assessed Total Value: $433,202.00

Property History for 510 East 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 510 East 23rd Street

Taxable ValueLand$180,277Additions$270,684Total$450,961
Tax Record2024$6,685 ($557 / month)
Home Facts
Total Finished SqFt6,936 SqFtAbove Grade Finished SqFt6,936 SqFtLot Size8,494 SqFtStyleMulti-Family Res (5+ Units)Year Built1907ZoningLAR2CountyLOS ANGELESAPN5127-012-004

Schools near 510 East 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
Public - 9 to 12
Rating
School
Distance
San Pedro Street Elementary School
PublicK to 5

John Adams Middle School
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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510 East 23rd Street is a multi-family home for sale in Los Angeles, CA 90011. This property was listed for sale on September 6, 2024 by Keller Williams Realty Los Feliz, it's currently listed at $1,149,000. It has been on the market for a total of 70 days and was last sold on September 13, 2007. This listing's school district is Los Angeles Unified School District. Nearby schools include San Pedro Street Elementary School, John Adams Middle School and Thomas Jefferson Senior High School. 510 East 23rd Street is a 12-bed, 6-bath, 6,936 sqft multi-family home built in 1907.

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 Keller Williams Realty Los Feliz, Grant Linscott, DRE #01715002

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.