553 Stanford Avenue

Los Angeles, CA 90013

$1,600,000
Price
4
Beds
17
Baths
7,440 Sq. Ft.
$215 / Sq. Ft.
7,440
Sq. Ft.
$215
per Sq. Ft.

Description

We are pleased to present 553 Stanford Ave, a 17-unit multifamily community located near the Arts District of Downtown Los Angeles, priced at a 7.87% CAP and 6.71 GRM on current rents with upside to operate at a 17.28% CAP and a 3.98 GRM. The property is a three-story brick building constructed in 1908 with a unit mix of 4 one-bedroom units and 13 studio units with 7 of 17 units renovated with one Studio unit delivered VACANT. 553 Stanford Ave is centrally located in DTLA near the Arts Districts...We are pleased to present 553 Stanford Ave, a 17-unit multifamily community located near the Arts District of Downtown Los Angeles, priced at a 7.87% CAP and 6.71 GRM on current rents with upside to operate at a 17.28% CAP and a 3.98 GRM. The property is a three-story brick building constructed in 1908 with a unit mix of 4 one-bedroom units and 13 studio units with 7 of 17 units renovated with one Studio unit delivered VACANT. 553 Stanford Ave is centrally located in DTLA near the Arts Districts in close proximity to the 10, 110, 101 and 5 freeway, in one of the most desirable and trendy submarkets that has recently undergone immense transition. The location offers tenants easy access to a plethora of restaurants such as Sushi Gen, Maccheroni Republic, Marugame Monzo, Baroo, Manuel, Bestia, De La Noma and much more. The Arts Districts also offers amenities and attractions such as ROW DTLA, Art Share LA, Arts District Brewing Company, Angel City Brewery, Hauser & Wirth, as well as retailers such as Apolis: Common Gallery, Arts District Co-op, Buru and Le Labo.
  1. Listed by Casey Lins • DRE #01902650 • Brokerage DRE #01001040 • Kidder Mathews of California, Inc.

Property Details for 553 Stanford Avenue

Zoning
LAM2
Parcel Number
5147020027
Total Units
17.0
Living Area
7440
Source Living Area
Assessor
Area
Downtown L.A. (C42)
Vacancy Rate
6%
Lot Size Area
2752
LISTING UPDATED: 11/04/2024 09:19 AM

Property Details for 553 Stanford Avenue

StatusActive
MLS #24-450419
Days on Market83
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1907
Lot Size0.06 AC / 2,752 SF
CountyLos Angeles County

Building Information for 553 Stanford Avenue

Stories3Residences-Year Built1907Building Size-Lot Size0.06 AC / 2,752 SF

Property Information for 553 Stanford Avenue

Community / Development
Community / Development
  • Tax Mello Roos: No
  • Number Of Units: 17
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 3
  • Number Of Buildings: 1
  • Type Of Units: Apartment
Contract Info
Contract Info
  • Probate: No
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $231,364
  • Net Operating Income: $125,897.00
  • Gross Income: $238,520
  • Cap Rate: 7.87%
  • Gross Rent Multiplier: $6.71
  • Total Annual Expense: 105467
Land / Lot Info
Land / Lot Info
  • Additional Parcel Number: No
  • Alley: No
  • Lot Acreage: 0.0632
  • Lot Size Square Feet: 2752
Parking Details
Parking Details
  • Parking Garage: None
  • Total Parking: 0
  • Parking Features: None
Interior Features
Interior Features
  • Levels: Three Or More
  • Cooling: None
  • Cooling Type: None
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: None
  • Common Walls: Attached
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 10-08-2024
  • Rent Control: Yes
  • Rent Control: 17
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,163.00
  • Unit Actual Rent: $1,163.00
  • Unit Projected Rent: $1,900.00
  • Like Units: 13
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,190.00
  • Unit Actual Rent: $1,190.00
  • Unit Projected Rent: $2,200.00
  • Like Units: 3
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $2,200.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $636,500.00
  • Assessed Improvement Percent: 65.99
  • Assessed Land Value: $328,093.00
  • Assessed Land Percent: 34.01
  • Assessed Total Value: $964,593.00

Property History for 553 Stanford Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 553 Stanford Avenue

Taxable ValueLand$334,654Additions$649,230Total$983,884
Tax Record2024$14,638 ($1,220 / month)
Home Facts
Total Finished SqFt7,440 SqFtAbove Grade Finished SqFt7,440 SqFtLot Size2,752 SqFtStyleMulti-Family Res (5+ Units)Year Built1907ZoningLAM2CountyLOS ANGELESAPN5147-020-027

Schools near 553 Stanford Avenue

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
Ninth Street School
PublicK to 5

Hollenbeck Middle School
Public6 to 8

Edward R. Roybal Learning Center
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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553 Stanford Avenue is a multi-family home for sale in Los Angeles, CA 90013. This property was listed for sale on October 8, 2024 by Kidder Mathews of California, Inc., it's currently listed at $1,600,000. It has been on the market for a total of 83 days and was last sold on February 2, 2018. This listing's school district is Los Angeles Unified School District. Nearby schools include Ninth Street School, Hollenbeck Middle School and Edward R. Roybal Learning Center. 553 Stanford Avenue is a 4-bed, 17-bath, 7,440 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 Kidder Mathews of California, Inc., Casey Lins, DRE #01902650

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.