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1163 W 38th St, Los Angeles, CA 90037
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1163 W 38th St Los Angeles, CA 90037

$1,499,000
  • 5 Beds
  • 5 Baths
  • 1,715 Sq.Ft.
For Sale
$1,499,000 Get Pre-Qualified
Map preview of 1163 W 38th St, Los Angeles, CA 90037

Property Overview: 1163 W 38th St Los Angeles, CA has 5 bedrooms, 5 bathrooms, 1,715 living square feet and 6,209 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: Price Reduced. Motivated Seller. We are pleased to present 1163 W. 38th Street, a vacant, three unit well-maintained and pride-of-ownership value-add multifamily building with a fully permitted ADU, in the fast-growing South LA submarket of Los Angeles. The subject building consists of 1 x 3 bed/3 bath unit, 1 x 2 bed/1 bath unit and a fully permitted ADU studio unit. All of the units are delivered furnished and were remodeled and painted in 2023 and include new flooring, kitchens and appliances. Unit One offers separate entrances creating flexible renting options including renting as 1 bed/1 bath units. The property sits near the corner of W. 38th Street and S. Budlong Avenue on a large 6,209 square foot parcel zoned LAR4. The tenants benefit from a long, gated driveway, nicely landscaped front yard and covered patio between the two detached units. This building has been well-maintained and has good bones. Excellent location in the heart of the South Figueroa Corridor just two blocks west of Exposition Park which includes BMO Stadium, the LA Memorial Coliseum, the California Science Center and the Natural History Museum of Los Angeles County. Enjoy Airbnb income! The University of Southern California is a half mile northeast of the property. Easy access to the 110 Freeway at W. Martin Luther King Jr. Blvd. brings you to downtown Los Angeles and beyond.

Listed by Oron Maher | BRE #01299093 | Maher Commercial Realty
Co-listed by Camilla Lim | BRE #02203866 | Maher Commercial Realty
Last checked: 2 minutes ago | Last updated: April 11th, 2024 | Source CRMLS | DOM: 102
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Home details

Lot Sq. Ft
6,209
HOA Dues
$0/mo
Year built
1922
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24349681
City
Los Angeles
County
Los Angeles
Time on Site
110 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 3
  • Total # of Buildings: 3
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Furnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $1,800
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Furnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $2,200
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Furnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $1,800
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Furnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $2,750
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Furnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $1,500
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 6.9%
  • Gross Rent Multiplier: 12.85
  • Gross Scheduled Income: --
  • Net Operating Income: $103,580
  • Gross Operating Income: $120,600
Annual Expense Breakdown
  • Total Operating Expense: --

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Property Details for 1163 W 38th St

Interior Features
Kitchen Information
  • Has Appliances
  • Microwave, Refrigerator
Interior Features
  • Furnished
  • Levels: One
  • Security Features: Gated Community
Lot Details / Garage and Parking
Parking/Garage Information
  • Has Parking
  • Parking Features: Driveway
Lot Information
  • Lot Features: Back Yard, Front Yard
  • Lot Size Source: Other
Property Information
  • Total # of Units: 3
  • Parcel Number: 5037014015
  • Property Condition: Updated/Remodeled
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: South on Normandie Avenue, East on W. 38th Street
View more facts & features

Local Los Angeles Agent

Sale History for 1163 W 38th St

Last sold for $720,000 on October 1st, 2018

  • January, 2024

  • Jan 19, 2024

    Date

    Active

    CRMLS: 24349681

    $1,550,000

    Price

  • October, 2018

  • Oct 1, 2018

    Date

    Sold

    CRMLS: RS18122476

    $720,000

    Price

  • Aug 10, 2018

    Date

    Active Under Contract

    CRMLS: RS18122476

    $765,000

    Price

  • Jun 19, 2018

    Date

    Active

    CRMLS: RS18122476

    $765,000

    Price

  • May 31, 2018

    Date

    Active Under Contract

    CRMLS: RS18122476

    $765,000

    Price

  • May 24, 2018

    Date

    Active

    CRMLS: RS18122476

    $765,000

    Price

  • Listing provided courtesy of CRMLS

    Desire property located near down town Los Angeles front unit 2 Bed 1 bath back unit 2 Bed 1 bath. Owner occupied, there is parking space for up to six vehicles on driveway.

  • October, 2018

  • Oct 1, 2018

    Date

    Sold (Public Records)

    Public Records

    $720,000

    Price

  • April, 2010

  • Apr 30, 2010

    Date

    Sold (Public Records)

    Public Records

    --

    Price

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Tax History for 1163 W 38th St

Assessed Value (2020): $734,400
Year Land Value Improved Value Assessed Value
2020 $550,800 $183,600 $734,400

Home Value Compared to the Market

This property vs the competition

1163 W 38th St is listed 21.38% higher than the median list price for the city of Los Angeles which has a median list price of $1,235,000. The median price per/sqft for Los Angeles is $774 and this home is listed at $874.05 per/sqft which puts the price per square foot 12.93% higher than the median price per square foot for the city of Los Angeles.

About 1163 W 38th St

Detailed summary of property

1163 W 38th St is a multi family located in Los Angeles, CA 90037 and is currently for sale. This multi family property offers 5 bedrooms, 5 bathrooms, roughly 1,715 living square feet, and sits on an approximately 6,209 square foot lot. 1163 W 38th St was first listed on ArdentRealEstateGroup.com on January 20, 2024. The homeowner is currently asking $1,499,000 and was originally asking $1,550,000. The median priced home in Los Angeles is $1,235,000 with a median price per square foot of $774. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 21.38% higher than the median priced home. Local competing homes currently for sale include 3945 Denker Ave, 1414 W 30th St and 1387 W 30th St. While the average home in Los Angeles, CA is selling in 94 days, 1163 W 38th St has a days on market of 102 days. There are currently 3580 homes for sale in the Los Angeles real estate market and 2422 of them are single family homes while 1059 of them are condos and 93 are townhomes. For more information on this home for sale at 1163 W 38th St Los Angeles, CA 90037 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1163 W 38th St

Public county record property details
Beds
4
Baths
2
Year built
1922
Sq. Ft.
1,715
Lot Size
6,208
Stories
--
Type
Duplex (2 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
14,15
APN
5037-014-015

The source for these homes facts are from public records.

90037 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$749,000
Median List Price/Sq.Ft.
$560
Median Sold Price
$667,000
Median Sold Price/Sq.Ft.
$444
Total Inventory
33
Median Sale to List Price %
106.72%
Avg Days on Market
21
Loan Type
Conventional (0%), FHA (50%), VA (0%), Cash (33.33%), Other (0%)

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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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