8018 Avalon Boulevard

Los Angeles, CA 90003

$1,150,000
Price
5
Beds
4
Baths
1,664 Sq. Ft.
$691 / Sq. Ft.
1,664
Sq. Ft.
$691
per Sq. Ft.

Description

Back on the Market Buyer failed to perform... Exceptional Opportunity: Own 4 Units (Currently 1 Vacant) in Los Angeles! This property is prime for Section 8 rentals with estimated rental income of approximately $10,214 per in place income + payment standard for 2bd unit, yielding an impressive CAP rate of 7.9% - a rarity in today's market! Property features brand new roofs, new windows, stylish new kitchen cabinets, and elegant quartz countertops. The front two units offer high ceilings creating...Back on the Market Buyer failed to perform... Exceptional Opportunity: Own 4 Units (Currently 1 Vacant) in Los Angeles! This property is prime for Section 8 rentals with estimated rental income of approximately $10,214 per in place income + payment standard for 2bd unit, yielding an impressive CAP rate of 7.9% - a rarity in today's market! Property features brand new roofs, new windows, stylish new kitchen cabinets, and elegant quartz countertops. The front two units offer high ceilings creating a loft-like atmosphere, and built-in laundry hook ups, while the back units benefit from a convenient community laundry space. All units come equipped with new tankless water heaters, stoves, refrigerators, microwaves and mini-split AC/heating systems. Upgrades include new electrical systems and 400 amp panels, and 100% new pex plumbing and state of the art fire sprinkler system (insurance carriers love). All units individually metered for gas and electric. With all units currently vacant great opportunity for buyer to vet their own tenants and have a passive rent generating machine with no headaches or maintenance calls. The seller is also pursuing Section 8 rental approval, allowing for the potential of selling with tenants already in place. At this time Three units has been placed under contract with section 8 and is paying. Don't miss this exceptional opportunity to choose your own tenants in a highly sought-after location!
  1. Listed by Edmar Costa • DRE #01474018 • Brokerage DRE #01095341 • Engel & Volkers Beverly Hills

Property Details for 8018 Avalon Boulevard

Water Front
None
Zoning
LAC2
Style
Spanish
Cross Streets
Manchester Ave. and Avalon Blvd
Parcel Number
6029008006
Total Units
4.0
Living Area
1664
Source Living Area
Assessor
LISTING UPDATED: 12/05/2024 01:03 PM

Property Details for 8018 Avalon Boulevard

StatusActive
MLS #24-416211
Days on Market150
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1934
Lot Size0.09 AC / 4,002 SF
CountyLos Angeles County

Building Information for 8018 Avalon Boulevard

Stories-Residences-Year Built1934Building Size-Lot Size0.09 AC / 4,002 SF

Property Information for 8018 Avalon Boulevard

Community / Development
Community / Development
  • Tax Mello Roos: Unknown
  • Number Of Units: 4
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 0
  • Number Of Buildings: 2
  • Type Of Units: Rental
  • View: No
  • View Description: None
  • View: None
  • Security Features: Carbon Monoxide Detector(s), Fire Sprinklers, Smoke Detector, Window Bars
  • Direction Faces: West
  • Property Condition: Updated/Remodeled
  • Water: District, In Street
  • Sewer: In Street
  • Water Heaters: Yes
  • Water Heater Features: Tankless
  • Water District: LADWP
  • Building Permit: Yes
Contract Info
Contract Info
  • Probate: No
  • Financing: Cash, Cash To New Loan, FHA, Conventional
  • Disclosures: Building Plans Available, Building Permit
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $122,568
  • Net Operating Income: $91,926.00
  • Gross Income: $122,568
  • Cap Rate: 7.99%
  • Gross Rent Multiplier: $9.38
  • Actual Annual Gross Rent: $122,568.00
  • Actual Gross Annual Income: $122,568
  • Actual Rent Total: $10,214.00
  • Total Annual Expense: 30642
Land / Lot Info
Land / Lot Info
  • Additional Parcel Number: No
  • Alley: Yes
  • Paved: Yes
  • Lot Acreage: 0.0919
  • Lot Size Square Feet: 4002
  • Lot Size Dimensions: 40x100
  • Source Lot Size Dimensions: Vendor Enhanced
  • Lot Features: Landscaped, Back Yard
  • Lot Description: Landscaped, Back Yard, Fenced Yard
  • Lot Location: None
Parking Details
Parking Details
  • Parking Garage: Driveway
  • Total Parking: 4
  • Parking Features: Driveway
Interior Features
Interior Features
  • Levels: One
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling Type: Ceiling Fan, Air Conditioning
  • Heating Type: Other
  • Flooring: Wood Laminate
  • Equipment: Dryer, Electric Dryer Hookup, Ceiling Fan, Gas Dryer Hookup, Hood Fan, Washer, Refrigerator, Range/Oven
  • Interior Features: High Ceilings (9 Feet+), Turnkey
  • Kitchen Features: Quartz Counters
  • Common Walls: Attached
  • Cooking Appliances: Built-In Electric, Cooktop - Electric
  • Laundry: In Living Room, Laundry Area
  • Laundry Equipment: Own
Exterior Features
Exterior Features
  • Pool: No
  • Private Pool: No
  • Pool Description: None
  • Pool Features: None
  • Spa: No
  • Spa: None
  • Tennis: No
  • Tennis Court: None
  • Roof: Flat
  • Sprinklers: None
  • Patio Features: None
  • Entry Location: Living Room
  • Windows: Double Pane Windows, Vertical Blinds
  • New Construction: No
  • Construction Materials: Stucco
  • Exterior Construction: Stucco
  • Foundation Details: Raised, Slab
  • Other Structural Features: High Ceilings (9 Feet+), Energy Efficient, Partial Copper Plumbing
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 07-24-2024
  • Listing Terms: Cash, Cash To New Loan, Conventional, FHA
  • Rent Control: Yes
  • Rent Control: 100
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $3,052.00
  • Unit Actual Rent: $3,052.00
  • Unit Projected Rent: $3,052.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,407.00
  • Unit Actual Rent: $2,407.00
  • Unit Projected Rent: $2,407.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,407.00
  • Unit Actual Rent: $2,407.00
  • Unit Projected Rent: $2,407.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,407.00
  • Unit Actual Rent: $2,348.00
  • Unit Projected Rent: $2,407.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $200,000.00
  • Assessed Improvement Percent: 28.57
  • Assessed Land Value: $500,000.00
  • Assessed Land Percent: 71.43
  • Assessed Total Value: $700,000.00

Property History for 8018 Avalon Boulevard

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 8018 Avalon Boulevard

Taxable ValueLand$500,000Additions$200,000Total$700,000
Tax Record2024$8,746 ($729 / month)
Home Facts
Total Finished SqFt1,664 SqFtAbove Grade Finished SqFt1,664 SqFtStories1Lot Size4,002 SqFtStyleOffice BuildingYear Built1928ZoningLAC2CountyLOS ANGELESAPN6029-008-006

Schools near 8018 Avalon Boulevard

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
Public - 9 to 12
Rating
School
Distance
Mckinley Avenue Elementary School
PublicK to 6

Charles Drew Middle School
Public7 to 8

John Hope Continuation School
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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8018 Avalon Boulevard is a multi-family home for sale in Los Angeles, CA 90003. This property was listed for sale on July 24, 2024 by Engel & Volkers Beverly Hills, it's currently listed at $1,150,000. It has been on the market for a total of 150 days and was last sold on October 17, 2023. This listing's school district is Los Angeles Unified School District. Nearby schools include Mckinley Avenue Elementary School, Charles Drew Middle School and Academy For Multiligual Arts And Science At Mervyn M. Dymally High. 8018 Avalon Boulevard is a 5-bed, 4-bath, 1,664 sqft multi-family home built in 1934.

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 Engel & Volkers Beverly Hills, Edmar Costa, DRE #01474018

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.