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115 E 31st St Los Angeles, CA 90011

$1,295,000 Sold Price as of 03/30/2022

7 Beds
4 Baths
3,420 Sq.Ft.

Sold

$1,295,000 Sold Price as of 03/30/2022 Refinance Your Mortgage

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Map preview of 115 E 31st St, Los Angeles, CA 90011

Property Overview: 115 E 31st St Los Angeles, CA has 7 bedrooms, 4 bathrooms, 3,420 living square feet and 6,283 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Fully remodeled and clean three-unit building, with ready to issue permits for a 4th ADU garage conversion. Built in 1984 which means this property does NOT fall under LA's rent stabilization ordinance and you can raise rent 5% a year + CPI, or over a 10% rental increase once COVID restrictions are lifted. Pro Forma 5.8% cap rate after ADU is complete. The front unit is a large (approx 1,200 sq ft) 3 bed/1 bath leased for $2,790. Unit B is a 2 bed/1 bath leased for $1,795, fully remodeled. Unit C is a remodeled 2 bed/1 bath currently rented for $1,790. On top of that, permits are ready to convert the garage into a legal studio/4th unit. RTI permits sold with property. All you need to do is pull the permits and start construction! All units remodeled with high-quality floors, appliances, and finishes. There on-site parking for each unit, and laundry inside each unit. Close to DTLA, USC, Fashion District, and lots of new development. This is one is a no-brainer! Owner is motivated, make all offers.

Listed by Oron Maher | BRE #01299093 | Maher Commercial Realty

Last checked: 11 minutes ago | Last updated: April 1st, 2022 | Source CRMLS | DOM: 61

Home details

Lot Sq. Ft: 6,283
HOA Dues: $0/mo
Year built: 1984
Garage: 1 Car
Property Type:: Multi Family

Status: Sold
MLS#: 21100353
City: Los Angeles
County: Los Angeles
Time on Site: 866 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 4
Total # of Buildings: 1

Unit Breakdown 1

# of Units: 1
# of Beds: 0
# of Baths: 1
Furnishing: Unfurnished
Total Rent: $0
Pro Forma/Market Rent: $1,100

Unit Breakdown 2

# of Units: 1
# of Beds: 3
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $2,795
Total Rent: $2,790
Pro Forma/Market Rent: $2,795

Unit Breakdown 3

# of Units: 1
# of Beds: 2
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,795
Total Rent: $1,790
Pro Forma/Market Rent: $1,795

Unit Breakdown 4

# of Units: 1
# of Beds: 2
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,795
Total Rent: $1,790
Pro Forma/Market Rent: $1,795

Multi-Family Income/Expense Information

Property Income and Analysis

Gross Rent Multiplier: 14.41
Gross Scheduled Income: --
Net Operating Income: $69,240
Gross Operating Income: $89,820

Annual Expense Breakdown

Total Operating Expense: --

Property Details for 115 E 31st St

Interior Features

Cooling Information

No Cooling
None

Kitchen Information

Has Appliances
Refrigerator, Gas Oven

Lot Details / Garage and Parking

Parking/Garage Information

# of Garage Spaces: 1
# of Parking Spaces: 5
Has Parking
Parking Features: Gated

Property Information

Total # of Units: 4
Parcel Number: 5128005040

Location / Neighborhood

Location Information

Directions: Head South West on S Main St and take a left onto E 31st St

View more facts & features

Local Los Angeles Agent

Sale History for 115 E 31st St

Last sold for $1,295,000 on March 30th, 2022

March, 2022
Mar 30, 2022

Date

Sold

CRMLS: 21100353

$1,295,000

Price
Jan 5, 2022

Date

Active

CRMLS: 21100353

$1,295,000

Price
June, 2021
Jun 3, 2021

Date

Leased

CRMLS: 21721050

$7,650

Price
May 16, 2021

Date

Active

CRMLS: 21721050

$7,650

Price
Listing provided courtesy of CRMLS

The subject property will be a four-unit building with all four units currently vacant. Three units are complete and renovated, construction of the 4th ADU unit totaling approximately 250 square feet should be completed by July 2021. This is perfect for a group of USC students, or other transitional type housing. Large lot, with a front lawn and rear parking/outdoor area. Each unit has been thoroughly remodeled with hardwood floors and stainless steel appliances, and each has its own washer/dryer. The front unit is 3 beds/1 bath. Back two units are each 2 bed/1 bath. Unit D will be a Studio with a full bathroom. Can be rented separately, or to one group. Total 8 bedrooms/4 bathrooms.

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January, 2021
Jan 7, 2021

Date

Sold

CRMLS: IV19252748

$685,000

Price
Sep 12, 2020

Date

Pending

CRMLS: IV19252748

$685,000

Price
Aug 3, 2020

Date

Active Under Contract

CRMLS: IV19252748

$685,000

Price
Jul 30, 2020

Date

Pending

CRMLS: IV19252748

$685,000

Price
Jul 27, 2020

Date

Active

CRMLS: IV19252748

$685,000

Price
Jul 17, 2020

Date

Pending

CRMLS: IV19252748

$685,000

Price
Jun 16, 2020

Date

Active Under Contract

CRMLS: IV19252748

$685,000

Price
Jun 9, 2020

Date

Active

CRMLS: IV19252748

$685,000

Price
Feb 12, 2020

Date

Active Under Contract

CRMLS: IV19252748

$685,000

Price
Dec 17, 2019

Date

Pending

CRMLS: IV19252748

$685,000

Price
Nov 14, 2019

Date

Active Under Contract

CRMLS: IV19252748

$685,000

Price
Oct 28, 2019

Date

Active

CRMLS: IV19252748

$685,000

Price
Listing provided courtesy of CRMLS

PROPERTY IS BEING SOLD AS-IS. THE SHORT SALE IS APPROVED BY LENDER (AT LIST PRICE). CASH OFFERS ONLY! UNIT A IS VACANT! Amazing Opportunity to Buy & Hold Units, in prime Downtown LA within close proximity to USC, new soccer stadium, Arts & Entertainment, Dining, Staples Center, newly-renovated LA Coliseum! The lot is zoned RD1.5 and is 6,283 sq ft! Hold for long term investment or develop and sell for a profit! Unit mix comprises of Two 2/1's and One 3/1, total building sq ft based on public records is 3,120 with 3+ parking spaces available. Rent control applies. Broker/Agent do not guarantee the accuracy of square footage, lot size, zoning, permits, use code, schools and/or other information concerning the conditions or features of the property provided by the seller or obtained from public records or other sources. DO NOT DISTURB THE TENANTS. PLEASE DO NOT WALK THE PROPERTY WITHOUT PERMISSION.

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January, 2021
Jan 7, 2021

Date

Sold (Public Records)

Public Records

$685,000

Price
August, 2004
Aug 10, 2004

Date

Sold (Public Records)

Public Records

$380,000

Price

Tax History for 115 E 31st St

Assessed Value (2020): $690,373

Year	Land Value	Improved Value	Assessed Value
2020	$362,369	$328,004	$690,373

Home Value Compared to the Market

This property vs the competition

115 E 31st St sold on March 30, 2022 for 0.84% higher than the current median sold price for the city of Los Angeles which is $1,190,000. The median sold price per/sqft for Los Angeles is $755 and this home is sold at $350.88 per/sqft which puts the price per square foot 53.53% lower than the current median sale per square foot for the city of Los Angeles.

About 115 E 31st St

Detailed summary of property

115 E 31st St is a multi family that recently sold in Los Angeles, CA 90011. This multi family property offered 7 bedrooms, 4 bathrooms, roughly 3,420 living square feet, and sits on an approximately 6,283 square foot lot. 115 E 31st St was first listed on ArdentRealEstateGroup.com on January 5, 2022. The homeowner sold the property for $1,295,000. Home in Los Angeles are selling for a median price of $1,190,000 and a median price per square foot of $755. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 0.84% higher than the current median priced home. Local homes that are currently for sale include 201 W 46th St, 4473 Mettler St and 1703 Toberman St. While the average home in Los Angeles, CA is selling in 92 days, 115 E 31st St has a days on market of 61 days. There are currently 3712 homes for sale in the Los Angeles real estate market and 2493 of them are single family homes while 1120 of them are condos and 93 are townhomes. For more information on this home for sale at 115 E 31st St Los Angeles, CA 90011 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 115 E 31st St

Public county record property details

Beds: 7
Baths: 3
Year built: 1984
Sq. Ft.: 3,120
Lot Size: 6,283
Stories: --

Type: Triplex (3 Units, Any Combination)
Pool: No
Spa: No
County: Los Angeles
Lot#: 52
APN: 5128-005-040

The source for these homes facts are from public records.

90011 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$649,000

Median List Price/Sq.Ft.

$462

Median Sold Price

$550,000

Median Sold Price/Sq.Ft.

$405

Total Inventory

Median Sale to List Price %

104.76%

Avg Days on Market

Loan Type

Conventional (33.33%), FHA (25%), VA (0%), Cash (33.33%), Other (8.33%)

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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.