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6111 Horner St, Los Angeles, CA 90035
$2,565,000
6111 Horner St, Los Angeles, CA 90035View this property at 6111 Horner St, Los Angeles, CA 90035
6111 Horner StLos AngelesCA90035
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Property Description
The initial Capitalization Rate (CAP) of 5.10% for 6111 Horner St is notably enticing. The current owners have diligently maintained the property, consistently raising rents and revamping units with meticulous effort and style upon tenant turnover. This proactive approach has significantly boosted income over their ownership tenure. The property features a diverse unit mix, including a studio, three 2+2's, one 2+1, one 3+2 townhouse, and a 2+1 Accessory Dwelling Unit (ADU). This diversity not only mitigates risk for savvy investors but also broadens the appeal to a range of tenants, thereby enhancing the property's long-term value and ensuring a more stable and profitable investment. Additionally, select units offer private patios. Situated in the Pico-Robertson neighborhood, 6111 Horner St enjoys an exceptionally advantageous location. Central to the Westside, it provides convenient access to major employment centers in Century City and Santa Monica, with a short 1-mile drive to downtown Culver City and its vibrant entertainment and dining options. The property's front parking adds to its convenience and accessibility, accommodating up to four vehicles in four single spaces. Implementing utility bill-back as units are turned has proven successful, with 2/7 units currently on this program. Continuing this strategy ensures a fair distribution of utility expenses based on tenants' usage patterns, effectively transferring costs and further augmenting Net Operating Income (NOI) and cash flow for the new owner. Demographically, the property is situated in an affluent area, with an average household income (HHI) of $131,284 within a 1-mile radius and an even higher $133,795 within a 3-mile radius. This financial profile adds to the property's appeal and potential for sustained success.
Full Property Details
Full Property Details for 6111 Horner St
General
- Sold For: $2,565,000
- Status: Closed
- Type: Multi-Family
- MLS ID: 24-360627
- Added to Site: 109 day(s) ago
Rooms
Bathrooms
- Total Bathrooms: 11
Bedrooms
- Total Bedrooms: 13
Additional Information
- Other Features: None
Parking
- Garage Description: Uncovered
Location
- Area: Beverlywood Vicinity
- County: Los Angeles
- Driving Directions: Near cross streets La Cienega Blvd & Horner St.
Heating & Cooling
- Cooling Type: None
- Heating Type: None
Structural Information
- # Buildings: 1
- Stories/Levels: 2
- Square Feet: 6,472
- Sq. Ft. Source: Owner
- Year Built: 1964
- Year Built Source: Vendor Enhanced
Unit Information
- Units in Complex: 7
- Unit Type: 2106, 2107, 2108, 2109, 2110, 2111, 2112
Unit 1
- Total Bathrooms: 2
- Bedrooms: 3
Unit 2
- Total Bathrooms: 1
- Bedrooms: 2
Unit 3
- Total Bathrooms: 2
- Bedrooms: 2
Unit 4
- Total Bathrooms: 2
- Bedrooms: 2
Unit 5
- Total Bathrooms: 1
Unit 6
- Total Bathrooms: 2
- Bedrooms: 2
Unit 7
- Total Bathrooms: 1
- Bedrooms: 2
Additional Structures
- Other Structures: None
Lot Features
- Lot Size (Acres): 0.1303
- Lot Size: 5676
- Lot Size Source: Assessor
- Lot Dimensions: 50 x 113
- Zoning: LARD1.5
Financial Considerations
- Price Per Sq. Ft.: $401.73
- Assessment Year: 1964
Disclosures and Reports
- Disclosures/Reports: None
- APN: 5068-005-015
Listed and Sold by Marcus & Millichap, Saadia 'Sam' Liberow
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Schools
Schools serving 6111 Horner St
School District:Los Angeles Unified School District
Rating | Name | Grades | Distance |
---|---|---|---|
1661 S Crescent Heights Blvd, Los Angeles, CA 90035 | K-5 | 0.2 mi | |
11330 Graham Pl, Los Angeles, CA 90064 | 6-8 | 3.7 mi | |
2955 S Robertson Blvd, Los Angeles, CA 90034 | 9-12 | 1.4 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 6111 Horner St
Date
Details
Price
Change
Source
4/10/2024
Sold
$2,565,000
-1.35%
MLS
2/21/2024
Listed
$2,600,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
6111 Horner St, Los Angeles, CA 90035 (MLS# 24-360627) is a Multi-Family property that was sold at $2,565,000 on April 10, 2024. Want to learn more about 6111 Horner St? Do you have questions about finding other Multi-Family real estate for sale in Beverlywood? You can browse all Beverlywood real estate or contact a Coldwell Banker agent to request more information.