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1029 Elden Ave, Los Angeles, CA 90006
$4,600,000
1029 Elden Ave, Los Angeles, CA 90006View this property at 1029 Elden Ave, Los Angeles, CA 90006
1029 Elden AveLos AngelesCA90006
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Property Description
* BIG PRICE REDUCTION* Don't miss this rare and unique opportunity to own a highly valuable income property in a prime location! This well maintained 18 unit apartment complex with a resident manager is a strong investment with a gross income $36,490, boast an exceptional GRM 12.5, outstanding CAP rate of 5.3% and tremendous upside potential. The property is situated in a highly desired rental market strong investor and tenant demand. This three-story apartment complex, reminiscent of a condominium, was built in 1991 and has been impeccably managed and maintained ever since. The total square footage of the improvements is an impressive 21,789, sitting on a sizable 13,050 square foot lot, zoned LA R4-1 & TOC Tier 3, presenting additional development possibilities. The building's charming three-story, features an airy courtyard that provides access to all units, including an elevator from the parking lot. Comprising of 17 units with 2Beds and 2Baths, along with one unit featuring 2Beds and 1Bath. Each of the tastefully upgraded 2Beds units spans approx. 1,100 sf, offering a spacious living room, separate rooms, dining area, and central AC(16units). The apartments also boast ample closet space. The upgrade include separate water heaters, well- appointed kitchens with vent out hoods, dishwasher, stoves, beautiful countertops, cabinetry, and luxurious bathtubs and vanities. The plumbing has been installed to copper, and features CCTV surveillance. The on-site laundry room generates additional income. Additionally, each unit has separate gas and electric meters. Security are prioritized with a gated and secure parking garage offering 10 side-by-side parking spots and 22 tandem spaces(total 32 spaces). Convenient access to the FWY 110 and 10, situated just west of Downtown LA, easy access to major markets, restaurants, banks, healthcare facilities, and other business. Don't delay - seize the chance to make this one-of-a-kind investment property your own!
Full Property Details
Full Property Details for 1029 Elden Ave
General
- Sold For: $4,600,000
- Status: Closed
- Type: Multi-Family
- MLS ID: 23-295625
- Added to Site: 295 day(s) ago
Interior
- Flooring: Laminate, Carpet
Rooms
Bathrooms
- Total Bathrooms: 35
Bedrooms
- Total Bedrooms: 36
Other Rooms
- Laundry: Community
Additional Information
- Other Features: None
Parking
- Covered Spaces: 32
- Garage Description: Assigned, Covered Parking, Tandem, Side By Side
Location
- Area: Mid-Wilshire
- County: Los Angeles
- Driving Directions: East of Vermont and South of Olympic
Heating & Cooling
- Cooling Type: Central, Wall Unit(s)
- Heating Type: Central, Forced Air
Structural Information
- # Buildings: 1
- Stories/Levels: 3
- Square Feet: 21,789
- Sq. Ft. Source: Vendor Enhanced
- Year Built: 1991
- Year Built Source: Vendor Enhanced
Unit Information
- Units in Complex: 18
- Unit Type: 2106, 2107
Unit 1
- Total Bathrooms: 2
- Bedrooms: 2
Unit 2
- Total Bathrooms: 1
- Bedrooms: 2
Additional Structures
- Other Structures: None
Lot Features
- Lot Size (Acres): 0.2996
- Lot Size: 13050
- Lot Size Source: Assessor
- Lot Dimensions: 60 x 145
- Zoning: LAR4
Financial Considerations
- Price Per Sq. Ft.: $273.07
- Assessment Year: 1991
Disclosures and Reports
- Disclosures/Reports: As Is
- APN: 5076-008-024
Listed and Sold by Ivy Realty Co., Ki Seon Im
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Schools
Schools serving 1029 Elden Ave
School District:Los Angeles Unified School District
Rating | Name | Grades | Distance |
---|---|---|---|
2481 W 11th St, Los Angeles, CA 90006 | K-5 | 0.1 mi | |
1157 S Berendo St, Los Angeles, CA 90006 | 6-8 | 0.4 mi | |
1575 W 2nd St, Los Angeles, CA 90026 | 9-12 | 1.6 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 1029 Elden Ave
Date
Details
Price
Change
Source
2/15/2024
Sold
$4,600,000
-22.69%
MLS
11/13/2023
Price Reduced
$5,950,000
-6.3%
MLS
8/02/2023
Listed
$6,350,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
1029 Elden Ave, Los Angeles, CA 90006 (MLS# 23-295625) is a Multi-Family property that was sold at $4,600,000 on February 15, 2024. Want to learn more about 1029 Elden Ave? Do you have questions about finding other Multi-Family real estate for sale in Mid-Wilshire? You can browse all Mid-Wilshire real estate or contact a Coldwell Banker agent to request more information.