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1029 Elden Avenue
Los Angeles, CA 90006
Sold
1029 Elden Avenue
Los Angeles, CA 90006
Sold
* 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!
PROPERTY INFORMATION
| MLS # | 23295625 | Lot Size | 13,050 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | N/A |
| Price | $ 5,950,000
Price Per SqFt: $ 273 |
DOM | 641 Days |
| Address | 1029 Elden Avenue | Type | Residential Income |
| City | Los Angeles | Sq.Ft. | 21,789 Sq. Ft. |
| Postal Code | 90006 | Garage | N/A |
| County | Los Angeles | Year Built | 1991 |
| Bed / Bath | 36 / 0 | Parking | 32 |
| Built In | 1991 | Status | Closed |
| Sold Date | 2024-02-15 |
INTERIOR FEATURES
| Has Laundry | Yes |
| Laundry Information | Community |
| Has Appliances | Yes |
| Kitchen Appliances | Dishwasher, Disposal |
| Has Heating | Yes |
| Heating Information | Central, Forced Air |
| Has Cooling | Yes |
| Cooling Information | Central Air |
| Flooring Information | Laminate, Carpet |
EXTERIOR FEATURES
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $6,347
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 11/06/2023 | Relisted | $6,350,000 |
| 10/25/2023 | Active Under Contract | $6,350,000 |
| 08/02/2023 | Listed | $6,350,000 |
Topfind Realty
REALTOR®
(844)-333-8033
Questions? Contact today.
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Listing provided courtesy of Ki Seon Im, Ivy Realty Co.. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
