8704 South Central Avenue

Los Angeles, CA 90002

$1,598,500
Price
10
Beds
10
Baths
4,894 Sq. Ft.
$327 / Sq. Ft.
4,894
Sq. Ft.
$327
per Sq. Ft.

Description

Introducing a stunning two-story building with 10 highly sought-after residential units in a prime Los Angeles location. This gem offers a vibrant mix of residences: one spacious 2-bed, 1-bath unit, eight charming 1-bed, 1-bath units, and one cozy studio. Additionally, there are four single-car garages available for lease, providing extra income potential. The building stands out with its vibrant paint job and updated windows, making it a desirable place to live. Many of the units boast refreshed...Introducing a stunning two-story building with 10 highly sought-after residential units in a prime Los Angeles location. This gem offers a vibrant mix of residences: one spacious 2-bed, 1-bath unit, eight charming 1-bed, 1-bath units, and one cozy studio. Additionally, there are four single-car garages available for lease, providing extra income potential. The building stands out with its vibrant paint job and updated windows, making it a desirable place to live. Many of the units boast refreshed interiors and individual water heaters, ensuring modern comfort for tenants. The exterior has recently undergone a significant upgrade, with the seller investing over $200K in a seismic retrofit to comply with the city of Los Angeles. This property presents a fantastic opportunity for the savvy investor, offering considerable upside on rents. It is conveniently located near public transportation, local amenities, and just minutes from Downtown Los Angeles. Adding to the appeal, a twin building next door shares a courtyard with this property and is also available for sale. With two separate APNs, both properties are to be sold together. The address of the neighboring building is 8708 S. Central Avenue MLS: MB24107071. The seller is willing to negotiate a carryback offer. On the market and waiting for the smart investor looking to add two standout properties to their portfolio, don’t miss out on this incredible investment opportunity!
  1. Listed by ROBERT SORIANO • DRE #02026298 • Brokerage DRE #01914184 • EXCELLENCE RE REAL ESTATE • 562-237-3447

Property Details for 8704 South Central Avenue

Parking Spaces Total
0
Private Pool
No
Total Units
10.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
4894
Assessor Parcel Number
6043-002-015
Property Attached YN
true
LISTING UPDATED: 11/07/2024 06:18 AM

Property Details for 8704 South Central Avenue

StatusActive
MLS #MB24106529
Days on Market166
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1955
CountyLos Angeles County

Building Information for 8704 South Central Avenue

Building/Complex8704 S Central AveFloor-Stories2Residences-Pet Policy-Year Built1955Building Size-

Property Information for 8704 South Central Avenue

Rental Info
Rental Info
  • Tenant Pays: All Utilities, Electricity, Gas, Parking Fee, Telephone
Income / Expense / Tax Details
Income Details
  • Gross Income: $136,368
  • Gross Scheduled Income: $115,692
  • Net Operating Income: $81,255
  • Laundry Income: $0
  • Other Income Description: car spaces
  • Other Income 1: $4,800
  • Cap Rate: 7.0
Expense Details
  • Operating Expense: $26,000
  • Fuel Expense: $0
  • Electric Expense: $1,000
  • Insurance Expense: $4,036
  • Professional Management Expense: $0
  • Trash Expense: $6,600
  • Water Sewer Expense: $6,000
  • Total Expenses: $26,000
Tax / Assessment Info
  • Tax Tract Number: 7421
  • Tax Census Tract: 2400.10
  • CFD/Mello-Roos Fee: $2,383
  • Tax Lot: 101
Community / Development
Community / Development
  • Community Features: Biking, Sidewalks, Storm Drains, Street Lights
Property / Structure Info
Interior Features
  • Laundry: No
  • Laundry Features: None
Exterior Features
  • Entry Location: 1
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: 0-1 Unit/Acre
  • Number Of Units: 10
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • 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: 1
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $600
  • Unit Type Total Rent: $600
  • Unit Type Pro Forma: 1000
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $846
  • Unit Type Total Rent: $10,152
  • Unit Type Pro Forma: 1580
  • Unit Type Type: 10
Unit 3
  • 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 Garage Attached: No
  • Unit Type Actual Rent: $1,144
  • Unit Type Total Rent: $13,728
  • Unit Type Pro Forma: 2000
  • Unit Type Type: 2
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $910
  • Unit Type Total Rent: $10,920
  • Unit Type Pro Forma: 1580
  • Unit Type Type: 3
Unit 5
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,144
  • Unit Type Total Rent: $13,728
  • Unit Type Pro Forma: 1580
  • Unit Type Type: 4
Unit 6
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,040
  • Unit Type Total Rent: $12,480
  • Unit Type Pro Forma: 1580
  • Unit Type Type: 5
Unit 7
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,300
  • Unit Type Total Rent: $15,600
  • Unit Type Pro Forma: 1580
  • Unit Type Type: 6
Unit 8
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,040
  • Unit Type Total Rent: $13,728
  • Unit Type Pro Forma: 1580
  • Unit Type Type: 7
Unit 9
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,040
  • Unit Type Total Rent: $13,728
  • Unit Type Pro Forma: 1580
  • Unit Type Type: 8
Unit 10
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,300
  • Unit Type Total Rent: $15,600
  • Unit Type Pro Forma: 1580
  • Unit Type Type: 9
Unit Information
  • Number Of Units Leased: 10
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 10
  • Number Of Separate Gas Meters: 10
  • Number Of Separate Water Meters: 1

Property History for 8704 South Central 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 8704 South Central Avenue

Taxable ValueLand$537,868Additions$564,871Total$1,102,739
Tax Record2024$15,630 ($1,303 / month)
Home Facts
Total Finished SqFt4,894 SqFtAbove Grade Finished SqFt4,894 SqFtLot Size4,962 SqFtStyleMulti-Family Res (5+ Units)Year Built1955ZoningLAC2CountyLOS ANGELESAPN6043-002-015

Schools near 8704 South Central Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Russell Elementary School
Public - K to 6
Charles Drew Middle School
Public - 7 to 8
Academy For Multiligual Arts And Science At Mervyn M. Dymally High
Public - 9 to 12
KIPP Ignite Academy
Charter - K to 4
Rating
School
Distance
Russell Elementary School
PublicK to 6

Charles Drew Middle School
Public7 to 8

Academy For Multiligual Arts And Science At Mervyn M. Dymally High
Public9 to 12

KIPP Ignite 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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More information about 8704 South Central Avenue, Los Angeles, CA 90002

8704 South Central Avenue is a multi-family home for sale in Los Angeles, CA 90002. This property was listed for sale on May 31, 2024 by EXCELLENCE RE REAL ESTATE, it's currently listed at $1,598,500. It has been on the market for a total of 166 days and was last sold on January 14, 2005. This listing's school district is Los Angeles Unified School District. Nearby schools include Russell Elementary School, Charles Drew Middle School and Academy For Multiligual Arts And Science At Mervyn M. Dymally High. 8704 South Central Avenue is a 10-bed, 10-bath, 4,894 sqft multi-family home built in 1955.

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 EXCELLENCE RE REAL ESTATE, ROBERT SORIANO, DRE #02026298

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.