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1040 S Ditman Ave, Los Angeles, CA 90023
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1040 S Ditman Ave Los Angeles, CA 90023

$905,000 Sold Price as of 04/22/2021
  • 4 Beds
  • 4 Baths
  • 1,592 Sq.Ft.
Sold
$905,000 Sold Price as of 04/22/2021 Refinance Your Mortgage
Map preview of 1040 S Ditman Ave, Los Angeles, CA 90023

Property Overview: 1040 S Ditman Ave Los Angeles, CA has 4 bedrooms, 4 bathrooms, 1,592 living square feet and 6,150 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: This is a fantastic opportunity to acquire a 4 unit multifamily property in Boyle Heights just east of Downtown LA. All the units are one bedrooms, with one of them vacant, remodeled, and ready to move in. The other three units have MTM tenants in place all currently paying rents. The property allows an owner occupier to live in a unit and collect rents from the other. The entire property totals 1,592sf and sits on a large 6,150sf lot zoned R4 allowing for future development potential. The property is also located in a qualified Opportunity Zone which can offer the right investor additional tax benefits. And with the property being located near the 5 freeway, it is just minutes from Downtown LA and USC. Excellent location in Boyle Heights east of Downtown Los Angeles near USC Medical Center, Community Hospital, Commerce, Freeways, Parks & Recreation, and Restaurants & Shops. ACTUAL 5.4% Cap Rate!

Listed by Brian Noh | BRE #01438155 | Nohco Real Estate
Last checked: 11 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 13

Home details

Lot Sq. Ft
6,150
HOA Dues
$0/mo
Year built
1923
Garage
--
Property Type:
Fourplex
Status
Sold
MLS#
OC21046131
City
Los Angeles
County
Los Angeles
Time on Site
1178 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 4
  • # of Leased Units: 3
  • # of Electric Meters: 4
  • # of Gas Meters: 4
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,500
  • Total Rent: $1,500
  • Pro Forma/Market Rent: $1,500
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $1,400
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,330
  • Total Rent: $1,330
  • Pro Forma/Market Rent: $1,400
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,310
  • Total Rent: $1,310
  • Pro Forma/Market Rent: $1,400
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $66,480
  • Net Operating Income: $47,254
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $17,231
  • New Taxes: $0
  • Trash: $0
  • Insurance: $0
  • Water/Sewer: $0

Property Details for 1040 S Ditman Ave

Interior Features
Cooling Information
  • No Cooling
  • None
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • See Remarks
Fireplace Information
  • No Fireplace
  • None
Room Information
  • Flooring: Tile
  • All Bedrooms Down, Kitchen, Living Room, See Remarks
Kitchen Information
  • Has Appliances
  • Disposal, Gas Range, Water Heater
Interior Features
  • Ceiling Fan(s)
  • Levels: One
Exterior Features
Exterior Information
  • Roof: Composition
  • Has Fence
  • Block, Wood
  • Other Structures: Storage
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 7
  • Has Parking
  • Parking Features: Parking Space, See Remarks
Lot Information
  • Lot Features: 2-5 Units/Acre, Yard
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 4
  • Parcel Number: 5239005008
  • Year Built Source: Assessor
  • Property is not Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
  • Utilities: Electricity Available, Natural Gas Available, Phone Available, Sewer Available, Water Available
Assessment Information
  • Has Assessments
  • Assessments: Buyer to Verify, Unknown
Location / Neighborhood
Location Information
  • Directions: 5 Fwy off Ditman exit before Whittier Blvd.
Neighborhood Information
  • Community Features: Curbs, Sidewalks, Street Lights
View more facts & features

Local Los Angeles Agent

Sale History for 1040 S Ditman Ave

Last sold for $905,000 on April 22nd, 2021

  • April, 2021

  • Apr 23, 2021

    Date

    Sold

    CRMLS: OC21046131

    $905,000

    Price

  • Mar 26, 2021

    Date

    Pending

    CRMLS: OC21046131

    $875,000

    Price

  • Mar 12, 2021

    Date

    Active

    CRMLS: OC21046131

    $875,000

    Price

  • June, 2017

  • Jun 19, 2017

    Date

    Sold (Public Records)

    Public Records

    $533,000

    Price

Show More

Tax History for 1040 S Ditman Ave

Assessed Value (2020): $565,622
Year Land Value Improved Value Assessed Value
2020 $254,689 $310,933 $565,622

Home Value Compared to the Market

This property vs the competition

1040 S Ditman Ave sold on April 22, 2021 for 22.57% lower than the current median sold price for the city of Los Angeles which is $1,130,000. The median sold price per/sqft for Los Angeles is $754 and this home is sold at $549.62 per/sqft which puts the price per square foot 27.11% lower than the current median sale per square foot for the city of Los Angeles.

About 1040 S Ditman Ave

Detailed summary of property

1040 S Ditman Ave is a fourplex that recently sold in Los Angeles, CA 90023. This fourplex offered 4 bedrooms, 4 bathrooms, roughly 1,592 living square feet, and sits on an approximately 6,150 square foot lot. 1040 S Ditman Ave was first listed on ArdentRealEstateGroup.com on March 12, 2021. The homeowner sold the property for $905,000. Home in Los Angeles are selling for a median price of $1,130,000 and a median price per square foot of $754. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 22.57% lower than the current median priced home. Local homes that are currently for sale include 1226 S Kern Ave, 509 Camulos St and 843 N Gage Ave. While the average home in Los Angeles, CA is selling in 94 days, 1040 S Ditman Ave has a days on market of 13 days. There are currently 3780 homes for sale in the Los Angeles real estate market and 2562 of them are single family homes while 1120 of them are condos and 92 are townhomes. For more information on this home for sale at 1040 S Ditman Ave Los Angeles, CA 90023 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1040 S Ditman Ave

Public county record property details
Beds
4
Baths
4
Year built
1923
Sq. Ft.
1,592
Lot Size
6,150
Stories
--
Type
Quadruplex (4 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
8
APN
5239-005-008

The source for these homes facts are from public records.

90023 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$599,999
Median List Price/Sq.Ft.
$679
Median Sold Price
$630,000
Median Sold Price/Sq.Ft.
$656
Total Inventory
19
Median Sale to List Price %
105.88%
Avg Days on Market
28
Loan Type
Conventional (100%), FHA (0%), VA (0%), Cash (0%), Other (0%)

Thinking of Selling?

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(714) 706-1823

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. 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.

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