7408 Elsie Street

Los Angeles, CA 90001

$900,000
Price
2
Beds
5
Baths
1,264 Sq. Ft.
$712 / Sq. Ft.
1,264
Sq. Ft.
$712
per Sq. Ft.

Description

5-Unit Turnkey property with extremely strong proven rents. 4 Studios averaging $1548/Month and a 2-Bed Unit rented at $1900/Month with gross rents at $97,104. The subject property is highlighted by a large lot where multiple ADUs are a possibility. Operating at 9.27 GRM and stabilizes at 7.40 GRM. The one story structure is wood frame stucco. The zoning for the lot is LCR3 situated on 4,718 SF. With the addition of ADUs, the cap rate will jump substantially north of a 10% cap rate. It's a perfect...5-Unit Turnkey property with extremely strong proven rents. 4 Studios averaging $1548/Month and a 2-Bed Unit rented at $1900/Month with gross rents at $97,104. The subject property is highlighted by a large lot where multiple ADUs are a possibility. Operating at 9.27 GRM and stabilizes at 7.40 GRM. The one story structure is wood frame stucco. The zoning for the lot is LCR3 situated on 4,718 SF. With the addition of ADUs, the cap rate will jump substantially north of a 10% cap rate. It's a perfect opportunity to acquire one of the strongest income deals in Los Angeles.
  1. Listed by Aaron Jacobson • DRE #02100737 • Brokerage DRE #01972083 • Lyon Stahl Investment Real Estate, Inc. • 310-729-1559
  2. Listed by Taylor Avakian • DRE #02060040 • Brokerage DRE #01972083 • Lyon Stahl Investment Real Estate, Inc.

Property Details for 7408 Elsie Street

Parking Spaces Total
0
Private Pool
No
Total Units
5.0
Building Type
Detached
Lot Size Source
Assessor
Living Area
1264
Assessor Parcel Number
6024-019-046
Property Attached YN
false
LISTING UPDATED: 10/23/2024 02:57 AM

Property Details for 7408 Elsie Street

StatusActive
MLS #SB24219230
Days on Market28
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1926
CountyLos Angeles County

Building Information for 7408 Elsie Street

Building/Complex7408 Elsie StFloor-Stories1Residences-Pet Policy-Year Built1926Building Size-

Property Information for 7408 Elsie Street

Income / Expense / Tax Details
Income Details
  • Gross Income: $97,104
  • Gross Scheduled Income: $97,104
  • Vacancy Allowance Rate: 5
  • Gross Operating Income: $92,249
  • Net Operating Income: $60,024
  • Gross Multiplier: 9.27
  • Cap Rate: 6.67
Expense Details
  • Operating Expense: $32,225
  • Operating Expense Percent: 35.00%
  • Fuel Expense: $0
  • Electric Expense: $0
  • Insurance Expense: $0
  • Professional Management Expense: $0
  • Trash Expense: $0
  • Water Sewer Expense: $0
  • Total Expenses: $32,225
Tax / Assessment Info
  • Tax Tract Number: 4545
  • Tax Census Tract: 5350.01
  • CFD/Mello-Roos Fee: $3,128
  • Tax Lot: 29
Community / Development
Community / Development
  • Community Features: Biking, Dog Park, Golf, Park
Property / Structure Info
Interior Features
  • Laundry: No
  • Laundry Features: None
  • Heating Type: Central
  • Heating: Central
Exterior Features
  • Entry Location: Front
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: 0-1 Unit/Acre
  • Number Of Units: 5
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: One
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
Unit Information
Unit 1
  • Unit Type Units Total: 4
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,548
  • Unit Type Total Rent: $6,192
  • Unit Type Pro Forma: 7078
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,900
  • Unit Type Total Rent: $1,900
  • Unit Type Pro Forma: 3052
  • Unit Type Type: 2
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1

Property History for 7408 Elsie 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 7408 Elsie Street

Taxable ValueLand$482,490Additions$321,660Total$804,150
Tax Record2024$13,125 ($1,094 / month)
Home Facts
Total Finished SqFt1,264 SqFtAbove Grade Finished SqFt1,264 SqFtStories1Lot Size4,718 SqFtStyleMulti-Family Res (5+ Units)Year Built1926ZoningLCR3*CountyLOS ANGELESAPN6024-019-046

Schools near 7408 Elsie Street

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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7408 Elsie Street is a multi-family home for sale in Los Angeles, CA 90001. This property was listed for sale on October 22, 2024 by Lyon Stahl Investment Real Estate, Inc., it's currently listed at $900,000. It has been on the market for a total of 28 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. 7408 Elsie Street is a 2-bed, 5-bath, 1,264 sqft multi-family home built in 1926.

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., Aaron Jacobson, DRE #02100737; Lyon Stahl Investment Real Estate, Inc., Taylor Avakian, DRE #02060040

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.