1828 South Curson Avenue, Los Angeles, CA 90019, USA
Closed $831,000 - Multifamily
2924 3 Garages

Sold: June 2014

We were the listing agent for this 3 unit building in up-and-coming Mid City. This property was on the market for only 11 days and sold for over the asking price to a first time investor.

 

Charming property with 2 structures on a lot; a duplex faces the street while a hidden gem of a home sits behind the front structure with privacy. Several upgrades have been performed to this property, including the tear down and complete remodel of the rear free standing home.  Near the intersection of Fairfax and Venice Blvd, just north of the new Expo Line and minutes south of LA’s famed Wilshire Blvd, this stable and appreciating asset is a coveted piece of property in the up-and-coming Mid City Los Angeles area.  Rental demand is high and the building has been running at 100% occupancy for over 2 years. Vacant single garage for extra income or storage and upside on rents.

Financials

PROPERTY ANALYSIS

Market Rents

 Income Expense Summary

 Property Address

1828 S Curson Ave

Los Angeles, CA 90019

INCOME Date 4/28/2014
Period 2014
Scheduled Rents – Annual $57,420.00  
Other Income –
Subtotal $57,420.00
Less Vacancy % 4.0% $2,297.00
Bad Debt
Effective Rents             $55,123.00
EXPENSES
Cash
Taxes $10,570.00
Insurance $2,200.00
Licensing $180.00
Water & Sewer $1,200.00
Trash Tenant
Electric $0.00
Maint & Repair $1,320.00
Advertising $0.00
Gas $0.00
Miscellaneous
Total Expenses       $15,470.00  
Normalized NOI   $39,255.00 Proforma   $45,255.00    
Cap Rate     4.80%     4.80%    
Estimated Sales/Value Price $819,000.00     $945,000.00  

Note

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