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1984 Park Grove Avenue
Los Angeles, CA 90007
Sold
1984 Park Grove Avenue
Los Angeles, CA 90007
Sold
TWO WEEK CALL FOR OFFERS! LARGE PRICE ADJUSTMENT WITH NEW & IMPROVED METRICS! BRING ALL OFFERS! 26 units located in the heart of the USC Patrol Zone, which has campus security patrolling the neighborhood 24/7/365. Any students living in the USC Patrol Zone get free Uber's! Great price per door of $153K. In-place GRM of 8.22 with the upside to a 5.67 GRM, and an in-place cap rate of 8.02% with the upside to a 12.62% cap rate. Tenants can enjoy being 1 mile away from USC & Exposition Park and all of the attractions nearby like the new $1B George Lucas Museum, etc. Units are well sized with detached kitchens/bathrooms, with some having beautifully exposed brick and unrestricted views of the DTLA skyline. Majority of the units are on RUBS for utility reimbursements to help lower operating costs. There's a fire sprinkler system for all units and all hallways + common areas that was recently serviced, along with a fire alarm system, 24/7 security camera system and a burglar alarm system for secured entry & tenant safety. The electrical system has been updated and done with permits, in addition to extensive plumbing repairs, upgrades and re-piping. Exterior and common area improvements include new paint, window replacements, common area hallway flooring + stairs replacement, new washer & dryer machines (leased with WASH), water heaters, etc. ADU conversion potential on the bottom floor to convert 3 large vacant storage & office spaces into 3 ADU's/units (no in-place permits or RTI's), which would take the unit count to 29 and add substantial monthly/annual income. All 3 have plumbing & electrical in-place and ready to be converted!
PROPERTY INFORMATION
| MLS # | 24350759 | Lot Size | 5,941 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | N/A |
| Price | $ 4,000,000
Price Per SqFt: $ 275 |
DOM | 468 Days |
| Address | 1984 Park Grove Avenue | Type | Residential Income |
| City | Los Angeles | Sq.Ft. | 14,549 Sq. Ft. |
| Postal Code | 90007 | Garage | N/A |
| County | Los Angeles | Year Built | 1912 |
| Bed / Bath | 9 / 0 | Parking | N/A |
| Built In | 1912 | Status | Closed |
| Sold Date | 2024-08-29 |
INTERIOR FEATURES
| Has Laundry | Yes |
| Laundry Information | Washer Included, Dryer Included, Community |
| Has Fireplace | No |
| Fireplace Information | None |
| Has Appliances | Yes |
| Has Heating | Yes |
| Heating Information | Wall Furnace |
| SecuritySafety | Fire Sprinkler System, Fire and Smoke Detection System, 24 Hour Security, Smoke Detector(s), Carbon Monoxide Detector(s) |
EXTERIOR FEATURES
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $4,267
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 01/23/2024 | Listed | $4,995,000 |
Topfind Realty
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(844)-333-8033
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Listing provided courtesy of Jonathan Rawson, Avenue Realty Group. 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.
