1144 Elden Avenue

Los Angeles, CA 90006

$2,310,000

Sold Price
N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten $236 / sqft

1986

calendar_month Built

Property Description

We are pleased to present 1144 Elden, a 12-unit property not subject to LA City rent control. Built in 1986, this property currently allows an annual rent increase of 8.8% (5% plus the Consumer Price Index). Please note, the property is located in an opportunity zone, offering the new owner a potential federal capital gains tax incentive (buyer to verify). Comprised of (6) 2-bdrm. and 1.5-bath units and (6) 1-bdrm. units, these units offer approx. 34% rental upside compared to renovated units in the area. Property amenities include on-grade gated parking and a laundry room. 1144 Elden is offered at $307 per foot, $250,000 per unit, 9.42 market GRM, and 7.19% market CAP. Located just south of Koreatown, near Olympic and Vermont, the property is surrounded by many multifamily and mixed-use projects currently under construction or recently completed. Across the street from the subject property is a Grubb Properties project spanning a city block, featuring 228 units and 50,000 SF of commercial space (ground floor leased by Target).

Listing Information

Close Price $2,310,000
Close Date Tuesday, June 18th, 2024
Status Closed
MLS 23293115
Type Residential Income
Year Built 1986
Lot Size 7,000
Structure Size N/A
DOM 322
Courtesy Of Compass
Listing Agent Kenny Stevens DRE#01090251
Co-Listing Agent Matthew Hoult DRE#02112916

Interior Features

Total Bedroom
Bedrooms N/A
Total Bathroom
Bathrooms N/A
Cooling Type
Cooling Type Central Air

Exterior Information

Maps

Listing information courtesy of: Kenny Stevens, Matthew Hoult, Compass . *Based on information from the Association of REALTORS/Multiple Listing as of Jun 18th, 2024 at 12:55 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.