7317 Parmelee Avenue

Los Angeles, CA 90001

$800,000
Price
6
Beds
5
Baths
1,180 Sq. Ft.
$678 / Sq. Ft.
1,180
Sq. Ft.
$678
per Sq. Ft.

Description

7317 Parmelee is a 5 unit apartment building located just South of E. Florence and 1 block West of Compton Ave. The property is comprised of four studio, one bathroom units and one large three bedroom, one bath "owners unit". Currently all units are occupied with a total gross monthly income of $8,311. The lot runs from Parmelee to Elsie, with access to the property from both street. Gas and Electricity are separately metered. The property will have tremendous cash flow day one and is listed at a...7317 Parmelee is a 5 unit apartment building located just South of E. Florence and 1 block West of Compton Ave. The property is comprised of four studio, one bathroom units and one large three bedroom, one bath "owners unit". Currently all units are occupied with a total gross monthly income of $8,311. The lot runs from Parmelee to Elsie, with access to the property from both street. Gas and Electricity are separately metered. The property will have tremendous cash flow day one and is listed at a 7.82% cap rate and 8.02 x gross rents.
  1. Listed by William James • DRE #01734419 • Brokerage DRE #01399621 • Lyon Stahl Investment Real Estate, Inc.
  2. Listed by Peter James • DRE #01748556 • Brokerage DRE #01399621 • Lyon Stahl Investment Real Estate, Inc.

Property Details for 7317 Parmelee Avenue

Water Front
None
Zoning
LCR3*
Parcel Number
6024019043
Total Units
5.0
Living Area
1180
Source Living Area
Vendor Enhanced
Area
Metropolitan South (C37)
Vacancy Rate
5%
LISTING UPDATED: 10/31/2024 12:01 AM

Property Details for 7317 Parmelee Avenue

StatusActive
MLS #24-456261
Days on Market59
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1924
Lot Size0.12 AC / 5,029 SF
CountyLos Angeles County

Building Information for 7317 Parmelee Avenue

Stories1Residences-Year Built1924Building Size-Lot Size0.12 AC / 5,029 SF

Property Information for 7317 Parmelee Avenue

Community / Development
Community / Development
  • Number Of Units: 5
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 1
  • Number Of Buildings: 1
  • Type Of Units: apt
  • View: Yes
  • View Description: City
  • View: City Lights
  • Entry Floor Number: 1
  • Security Features: Carbon Monoxide Detector(s), Smoke Detector, Gated
  • Direction Faces: West
  • Water: Public
  • Sewer: In Street
  • Water Heaters: Yes
Contract Info
Contract Info
  • Probate: No
  • Financing: Cash To New Loan
  • 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: $94,987
  • Net Operating Income: $62,583.00
  • Gross Income: $99,732
  • Cap Rate: 7.82%
  • Gross Rent Multiplier: $8.02
  • Actual Annual Gross Rent: $99,732.00
  • Actual Gross Annual Income: $99,732
  • Actual Rent Total: $99,732.00
  • Financial Info as Of: 10/23/2024
  • Vacancy Allow Dollar: $4,987.00
  • Vacancy Allow Percent: 5.00%
  • Owner Pays: Water, Gardener
  • Total Annual Expense: 32162
Land / Lot Info
Land / Lot Info
  • Additional Parcel Number: No
  • Alley: No
  • Lot Acreage: 0.1154
  • Lot Size Square Feet: 5029
  • Lot Description: Single Lot
  • Lot Location: City
Parking Details
Parking Details
  • Parking Garage: Driveway
  • Total Parking: 3
  • Covered Parking: 0
  • Open Other Spaces Total: 3
  • Garage Spaces Total: 0
  • Carport Spaces Total: 0
  • Parking Features: Driveway
  • Garage Structures Total: 0.0
Interior Features
Interior Features
  • Levels: One
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling: Wall/Window Unit(s)
  • Cooling Type: Wall/Window
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Range/Oven
  • Common Walls: Attached
  • Cooking Appliances: Range
  • Laundry: None
Exterior Features
Exterior Features
  • Pool: No
  • Private Pool: No
  • Pool Description: None
  • Pool Features: None
  • Spa: No
  • Spa: None
  • Tennis Court: None
  • Sprinklers: None
  • Entry Location: Mid Level
  • New Construction: No
  • Construction Materials: Stucco
  • Exterior Construction: Stucco
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 10-23-2024
  • Listing Terms: Cash To New Loan
  • Rent Control: Yes
  • Rent Control: 100
  • Tenant Pays: Electricity, Gas
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,470.00
  • Unit Actual Rent: $1,470.00
  • Unit Projected Rent: $2,132.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,449.00
  • Unit Actual Rent: $1,449.00
  • Unit Projected Rent: $2,132.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,449.00
  • Unit Actual Rent: $1,449.00
  • Unit Projected Rent: $2,132.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,470.00
  • Unit Actual Rent: $1,470.00
  • Unit Projected Rent: $2,132.00
  • Like Units: 1
Unit 5 Information
  • Unit Beds: 3
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,473.00
  • Unit Actual Rent: $2,473.00
  • Unit Projected Rent: $3,915.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $172,392.00
  • Assessed Improvement Percent: 25.47
  • Assessed Land Value: $504,564.00
  • Assessed Land Percent: 74.53
  • Assessed Total Value: $676,956.00

Property History for 7317 Parmelee 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 7317 Parmelee Avenue

Taxable ValueLand$514,655Additions$175,839Total$690,494
Tax Record2024$10,885 ($907 / month)
Home Facts
Total Finished SqFt1,180 SqFtAbove Grade Finished SqFt1,180 SqFtLot Size5,029 SqFtStyleMulti-Family Res (5+ Units)Year Built1924ZoningLCR3*CountyLOS ANGELESAPN6024-019-043

Schools near 7317 Parmelee Avenue

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

Thomas A. Edison Middle School
Public6 to 8

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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7317 Parmelee Avenue is a multi-family home for sale in Los Angeles, CA 90001. This property was listed for sale on October 23, 2024 by Lyon Stahl Investment Real Estate, Inc., it's currently listed at $800,000. It has been on the market for a total of 59 days and was last sold on April 26, 2020. This listing's school district is Los Angeles Unified School District. Nearby schools include Wisdom Elementary School, Thomas A. Edison Middle School and Academy For Multiligual Arts And Science At Mervyn M. Dymally High. 7317 Parmelee Avenue is a 6-bed, 5-bath, 1,180 sqft multi-family home built in 1924.

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 Lyon Stahl Investment Real Estate, Inc., William James, DRE #01734419; Lyon Stahl Investment Real Estate, Inc., Peter James, DRE #01748556

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.