Los Angeles CA  home offered at $4,500,000 

Call Lisa DiNoto Group at (909)921-2544 to see this home.

 

1243 Wellesley Avenue
Los Angeles, California CA 90025-1144
Sold For: $4,100,000
Listing ID: SR22205815
Price/SqFt: $416.58
Status: Closed
Sold Date: 3/21/2023
SqFt: 9,842 Sq Ft
Acres: 0.193 Acres
Year Built: 1968

The subject property is improved at 9,842 square feet of gross building area on a .19-acre lot. The improvements include 11 units and is currently 90% occupied. The subject property has been maintained in good condition which includes a totally remodeled unit (Unit #6) which includes new paint, bamboo hardwood flooring, new washer/dryer, new kitchen appliances and two remodeled bathrooms. Per the property manager, the subject property has also been improved with new plumbing and electrical systems along with a newer roof. The subject property has 14 on-site parking spaces. Each 2-bedroom unit has 2 tandem parking spots, and each 1-bedroom unit has 1 parking spot. Each unit in the subject property has a patio/balcony amenity and there is an on-site coin laundry room available for tenants. Some of the additional features include, Rare multifamily opportunity just south of Brentwood. Professionally managed with massive upside in rents for the new Buyer Recent renovations. Low price per unit. Ample parking. First time on market since 2002.

Primary Features

County: Los Angeles
Price Reduction Date: 2023-02-09T00:38:00+00:00
Price/SqFt: 416.58
Property Type: Residential Income
Year Built: 1968
Zoning: LAR3

Interior

Average 1 Bed Area: 751
Average 1 Bed Area Units: Square Feet
Average 2 Bed Area: 1032
Average 2 Bed Area Units: Square Feet
Average 3 Bed Area Units: Square Feet
Average Studio Area Units: Square Feet
Building Area Units: Square Feet
Common Walls: 2+ Common Walls
Laundry: yes
Laundry Features: Common Area

External

Lot Features: 0-1 Unit/Acre
Lot Size Area: 8413
Lot Size Source: Assessor
Lot Size Square Feet: 8413
Number Of Buildings: 1
Parking: yes
Parking Features: Assigned, Tandem Covered
Pool Features: None
Private Pool: no
Property Attached: yes
Sewer: Public Sewer
Water Source: Public

Location

Country: US
Elevation Units: Feet
MLS Area Major: WATT - Watts

Additional

Additional Parcels: no
Assessments: Unknown
Co List Agent State License: 01198168
Co List Office State License: 01897136
Community Features: Curbs, Sidewalks, Storm Drains
Days On Market: 152
List Agent State License: 01338387
List Office State License: 01897136
Lot Size Units: Square Feet
New Construction: no
Number Of Separate Electric Meters: 1
Number Of Separate Gas Meters: 1
Number Of Separate Water Meters: 1
Number Of Units Total: 11
Parcel Number: 4267036012
Senior Community: no
Year Built Source: Assessor

Financial

Electric Expense: 16246
Gross Scheduled Income: 263400
Insurance Expense: 6500
Land Lease: no
Maintenance Expense: 13000
Net Operating Income: 157647
New Taxes Expense: 65000
Operating Expense: 105753
Price Per Unit: 409091
Professional Management Expense: 7507
Rent Control: yes
Special Listing Conditions: Standard, Trust
Tax Block: C
Tax Census Tract: 2674.05
Tax Lot: 8
Tax Tract Number: 267...
Total Expenses: 108253

Zoning Info


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Listed by: ScottPinkerton, DRE #01338387 from Century 21 Peak 855-732-5500

Contact - Listing ID SR22205815

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Lisa DiNoto

9483 Haven Ave #100
Rancho Cucamonga, CA 91730
Phone: 9099212544

Data services provided by IDX Broker
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