916 West 88th Street

Los Angeles, CA 90044

$919,000
Price
4
Beds
4
Baths
2,004 Sq. Ft.
$459 / Sq. Ft.
2,004
Sq. Ft.
$459
per Sq. Ft.

Description

Updated and well maintained 3-unit property with newly built ADU offering strong 4-unit rental income in the Vermont Vista neighborhood. This cash flowing property features spacious one bedroom bungalow units that were remodeled prior to current occupancy. This is a great investor opportunity offered at a 12.33 GRM and 5.4 Cap Rate on current rents with an additional 20% upside. Easy access to public transportation including the Metro Blue Line into downtown & south to the Ocean in Long Beach. Adjacent...Updated and well maintained 3-unit property with newly built ADU offering strong 4-unit rental income in the Vermont Vista neighborhood. This cash flowing property features spacious one bedroom bungalow units that were remodeled prior to current occupancy. This is a great investor opportunity offered at a 12.33 GRM and 5.4 Cap Rate on current rents with an additional 20% upside. Easy access to public transportation including the Metro Blue Line into downtown & south to the Ocean in Long Beach. Adjacent to the 110 (Harbor) Fwy & close proximity to local Elementary & Middle schools. Approximately 3 miles from the Downtown Inglewood Entertainment District including SoFi Stadium, Intuit Dome and Hollywood Park Development. 2/10 of a mile to the Algin Sutton Recreation Center with Tennis & Basketball Courts, Baseball, Soccer Fields, Fitness Zones, Play Areas & Swimming Pools. Don't miss out on this fantastic opportunity!
  1. Listed by Jeffrey Isenberg • DRE #02059354 • Brokerage DRE #01914434 • Buckingham Investments, Inc • 818-795-4477

Property Details for 916 West 88th Street

View
None
Parking Spaces Total
0
Private Pool
No
Cooling Type
N/K
Total Units
4.0
Building Type
Detached
Lot Size Source
Assessor
Living Area
2004
LISTING UPDATED: 11/08/2024 07:44 AM

Property Details for 916 West 88th Street

StatusActive
MLS #SB24211066
Days on Market53
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1923
Lot Size0.12 AC / 5,129 SF
CountyLos Angeles County

Building Information for 916 West 88th Street

Stories1Residences-Year Built1923Building Size-Lot Size0.12 AC / 5,129 SF

Property Information for 916 West 88th Street

Rental Info
Rental Info
  • Tenant Pays: Electricity, Gas
Income / Expense / Tax Details
Income Details
  • Gross Income: $72,924
  • Gross Scheduled Income: $72,924
  • Vacancy Allowance: 2187
  • Vacancy Allowance Rate: 3
  • Gross Operating Income: $70,737
  • Net Operating Income: $54,018
  • Gross Multiplier: 12.33
  • Cap Rate: 5.4
Expense Details
  • Operating Expense: $16,718
  • Operating Expense Percent: 23.00%
  • New Taxes Expense: $11,238
  • Pest Control Expense: $600
  • Insurance Expense: $2,000
  • Professional Management Expense: $0
  • Trash Expense: $0
  • Water Sewer Expense: $2,880
  • Total Expenses: $16,718
Tax / Assessment Info
  • Tax Tract Number: 3354
  • Tax Census Tract: 2403.02
  • CFD/Mello-Roos Fee: $391
  • Tax Lot: 130
Community / Development
Community / Development
  • Accessibility Features: None
  • Disability Access: None
  • Assessments YN: Yes
  • Assessments: Unknown
  • Community Features: Park, Sidewalks
Property / Structure Info
Interior Features
  • Appliances: Gas Range, Microwave, Refrigerator
  • Equipment: Microwave, None, Refrigerator
  • Interior Features: Ceiling Fan(s), Copper Plumbing Partial, Quartz Counters, Recessed Lighting
  • Room Type: Family Room, Main Floor Bedroom
  • Bedroom Features: Main Floor Bedroom
  • Laundry: No
  • Laundry Features: None
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling: None
  • Heating Type: Wall
  • Heating: Wall Furnace
  • Flooring: Laminate
Exterior Features
  • Door Features: Insulated Doors
  • Window Features: Double Pane Windows
  • Security Features: Carbon Monoxide Detector(s), Smoke Detector(s), Window Bars
  • Security: Security Bars
  • Construction Materials: Stucco
  • Exterior Construction: Stucco
  • Exterior: Stucco
  • Exterior Features: Awning(s)
  • Roof: Flat
  • Entry Location: Front
  • Fence: Yes
  • Fence: Chain Link
  • Fencing: Chain Link
  • Other Structures: Accessory Dwelling Unit
  • Property Condition: Updated/Remodeled
  • View Description: None
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Spa Features: None
Land/Lot Info
  • Lot Features: 0-1 Unit/Acre
  • Number Of Units: 4
  • Land Lease: No
  • Land Lease Type: Fee
  • Road Surface Type: Paved
  • Road Frontage Type: City Street
  • Levels: One
  • Water: Public
  • Sewer: Public Sewer
  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected
  • Electric: Electricity - On Property
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking: No
  • Parking Garage: None
  • Uncovered Spaces: 0
  • Open Other Spaces Total: 0
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
  • Parking Features: None
Unit Information
Unit 1
  • 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 Actual Rent: $905
  • Unit Type Total Rent: $905
  • Unit Type Pro Forma: 1800
  • 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 Actual Rent: $1,559
  • Unit Type Total Rent: $1,559
  • Unit Type Pro Forma: 1800
  • Unit Type Type: 2
Unit 3
  • 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 Actual Rent: $1,663
  • Unit Type Total Rent: $1,663
  • Unit Type Pro Forma: 1800
  • Unit Type Type: 3
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 Actual Rent: $1,950
  • Unit Type Total Rent: $1,950
  • Unit Type Pro Forma: 1950
  • Unit Type Type: 4
Unit Information
  • Rent Controlled: No
  • Number Of Buildings: 4
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1

Property History for 916 West 88th 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 916 West 88th Street

Taxable ValueLand$477,543Additions$159,181Total$636,724
Tax Record2024$8,026 ($669 / month)
Home Facts
Total Finished SqFt1,584 SqFtAbove Grade Finished SqFt1,584 SqFtLot Size5,129 SqFtStyleTriplexYear Built1923ZoningLARD3CountyLOS ANGELESAPN6038-021-001

Schools near 916 West 88th Street

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - 1 to 6
Public - 6 to 8
Charter - 9 to 12
Public - 9 to 12
Rating
School
Distance
Manchester Avenue Elementary School
Public1 to 6

Bret Harte Preparatory Middle School
Public6 to 8

Alain Leroy Locke College Prep Academy
Charter9 to 12

Youth Opportunities Unlimited 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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916 West 88th Street is a multi-family home for sale in Los Angeles, CA 90044. This property was listed for sale on October 3, 2024 by Buckingham Investments, Inc, it's currently listed at $919,000. This listing's school district is Los Angeles Unified School District. Nearby schools include Manchester Avenue Elementary School, Bret Harte Preparatory Middle School and Alain Leroy Locke College Prep Academy. 916 West 88th Street is a 4-bed, 4-bath, 2,004 sqft multi-family home built in 1923.

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 Buckingham Investments, Inc, Jeffrey Isenberg, DRE #02059354

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.