623 West 79th Street

Los Angeles, CA 90044

$1,425,000
Price
10
Beds
6
Baths
4,404 Sq. Ft.
$324 / Sq. Ft.
4,404
Sq. Ft.
$324
per Sq. Ft.

Description

ASSUMABLE 2.25% INTEREST RATE FHA Loan – 4 UNITS TOTAL - $7,940 GROSS MONTHLY INCOME Amazing investment opportunity with this meticulously maintained QUADRUPLEX in the heart of Los Angeles. UNIT 1: 3 Bedrooms and 2 Bathrooms, Unit 2: 3 Bedrooms 1 Bathroom, Unit 3: 2 Bedrooms 2 Bathrooms, Unit 4: 2 Bedrooms 1 Bathroom. Two front units built in 2011 and two back units built in 1948. Recent improvements include newer copper plumbing with replaced valves and faucets, and a complete electrical upgrade...ASSUMABLE 2.25% INTEREST RATE FHA Loan – 4 UNITS TOTAL - $7,940 GROSS MONTHLY INCOME Amazing investment opportunity with this meticulously maintained QUADRUPLEX in the heart of Los Angeles. UNIT 1: 3 Bedrooms and 2 Bathrooms, Unit 2: 3 Bedrooms 1 Bathroom, Unit 3: 2 Bedrooms 2 Bathrooms, Unit 4: 2 Bedrooms 1 Bathroom. Two front units built in 2011 and two back units built in 1948. Recent improvements include newer copper plumbing with replaced valves and faucets, and a complete electrical upgrade to 220 volts completed in 2011. The roofs of both the front and back buildings were replaced in 2023, and brand-new rain gutters were installed. Additionally, new windows were fitted in the back units last year. This quadruplex combines modern upgrades with enduring value in a sought-after location. With the opportunity to assume a low 2.25% FHA loan, this property is a compelling choice for savvy investors looking to own a prime income-generating asset in Los Angeles.
  1. Listed by Carlos Elizalde • DRE #02090487 • Brokerage DRE #02022092 • Real Broker • 714-389-8310

Property Details for 623 West 79th Street

Architectural Style
Traditional
View
City Lights, See Remarks
Parking Spaces Total
8
Private Pool
No
Cooling Type
Wall/Window
Total Units
4.0
Building Type
Attached
Lot Size Source
Assessor
LISTING UPDATED: 09/17/2024 09:56 AM

Property Details for 623 West 79th Street

StatusActive
MLS #PW24177852
Days on Market97
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built2011
Lot Size0.16 AC / 7,054 SF
CountyLos Angeles County

Building Information for 623 West 79th Street

Stories2Residences-Year Built2011Building Size-Lot Size0.16 AC / 7,054 SF

Property Information for 623 West 79th Street

Rental Info
Rental Info
  • Tenant Pays: Electricity, Gas, Parking Fee, Sewer, Trash Collection
Income / Expense / Tax Details
Income Details
  • Gross Income: $800
  • Gross Scheduled Income: $95,280
  • Gross Operating Income: $95,280
  • Net Operating Income: $91,800
  • Number Of Rented Garages: 2
  • Garage Income: $200
  • Laundry Income: $600
  • Current Financing: FHA
Expense Details
  • Operating Expense: $4,000
  • Electric Expense: $480
  • Insurance Expense: $2,000
  • Trash Expense: $0
  • Water Sewer Expense: $3,000
  • Total Expenses: $5,480
Tax / Assessment Info
  • Tax Tract Number: 237720
  • Tax Census Tract: 2377.20
  • CFD/Mello-Roos Fee: $606
  • Tax Lot: 338
Community / Development
Community / Development
  • Community Features: Curbs, Gutters, Sidewalks, Street Lights
Property / Structure Info
Interior Features
  • Appliances: Gas Water Heater, Water Heater
  • Equipment: Community, Laundry Area
  • Interior Features: Built-in Features, Crown Molding, In-Law Floorplan
  • Room Type: Bonus Room, Primary Bathroom, Primary Bedroom, Primary Suite
  • Water Heater Features: Gas
  • Water Heater Type: Gas
  • Laundry: Yes
  • Laundry Features: Common Area, Community
  • Laundry Equipment Own Lease: Own
  • Cooling: Wall/Window Unit(s)
  • Heating Type: Wall
  • Heating: Wall Furnace
  • Flooring: Laminate, Vinyl
Exterior Features
  • Window Features: Double Pane Windows
  • Security Features: Gated Community
  • Security: Gated Community
  • Construction Materials: Concrete, Drywall Walls
  • Exterior Construction: Concrete
  • Roof: Common Roof, Shingle
  • Entry Location: 1
  • Fence: Yes
  • Fence: Wrought Iron
  • Fencing: Wrought Iron
  • Other Structures: Guest House, Guest House Attached, Second Garage, Two On A Lot
  • Property Condition: Turnkey, Updated/Remodeled
  • View Description: City Lights
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Tennis Court: Guest House
Land/Lot Info
  • Additional Parcels Description: 6020016024
  • Lot Features: 0-1 Unit/Acre
  • Number Of Units: 4
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Electric: 220 Volts, Standard
  • Water Source: Public
Parking Info
  • Garage Spaces: 2
  • Parking: Yes
  • Parking Garage: Carport, Driveway, Garage
  • Parking Garage Spaces: 2
  • Carport Spaces: 2
  • Parking Features: Carport, Attached Carport, Driveway, Concrete, Garage
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,300
  • Unit Type Total Rent: $2,300
  • Unit Type Pro Forma: 3500
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,950
  • Unit Type Total Rent: $1,950
  • Unit Type Pro Forma: 3100
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $1,390
  • Unit Type Total Rent: $1,390
  • Unit Type Pro Forma: 2500
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,600
  • Unit Type Total Rent: $1,600
  • Unit Type Pro Forma: 2200
  • Unit Type Type: 4
Unit Information
  • Number Of Units Leased: 4
  • Rent Controlled: Yes
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1

Property History for 623 West 79th 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 623 West 79th Street

Taxable ValueLand$750,540Additions$251,965Total$1,002,505
Tax Record2024$12,545 ($1,045 / month)
Home Facts
Total Finished SqFt4,404 SqFtAbove Grade Finished SqFt4,404 SqFtLot Size7,044 SqFtStyleQuadraplexYear Built1948ZoningLARD1.5CountyLOS ANGELESAPN6020-016-025

Schools near 623 West 79th Street

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Public - 7 to 8
Public - 9 to 12
Charter - K to 4
Rating
School
Distance
Loren Miller Elementary School
PublicK to 6

Mary Mcleod Bethune Middle School
Public7 to 8

KIPP Empower Academy
CharterK to 4

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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623 West 79th Street is a multi-family home for sale in Los Angeles, CA 90044. This property was listed for sale on August 23, 2024 by Real Broker, it's currently listed at $1,425,000. It has been on the market for a total of 97 days and was last sold on January 31, 2020. This listing's school district is Los Angeles Unified School District. Nearby schools include Loren Miller Elementary School, Mary Mcleod Bethune Middle School and Academy For Multiligual Arts And Science At Mervyn M. Dymally High. 623 West 79th Street is a 10-bed, 6-bath, 4,404 sqft multi-family home built in 2011.

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 Real Broker, Carlos Elizalde, DRE #02090487

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.