1234 S Saltair Ave, Los Angeles, CA 90025
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1234 S Saltair Ave Los Angeles, CA 90025

$3,655,000
  • 11 Beds
  • 8.25 Baths
  • 6,840 Sq.Ft.
Back Up Offer
$3,655,000 Get Pre-Qualified

Map preview of 1234 S Saltair Ave, Los Angeles, CA 90025

Property Overview: 1234 S Saltair Ave Los Angeles, CA has 11 bedrooms, 8.25 bathrooms, 6,840 living square feet and 6,878 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: Rare investment opportunity for investors. This property is on the market for the first time after 32 years of ownership. The well-maintained 9-unit 2-story apartment with low operation costs is situated conveniently near 405 Fwy, I-10, UCLA, and Santa Monica Beach. This apartment has two entrances from the front gate and back gate very easy to access the building. The first floor consists of 4 units, and the second floor has 5 units with separate gas and power meters for each unit. The property is on an easy-to-access street; each unit provides a 2-car parking garage with private storage to keep personal belongings, and a community laundry room on the first floor. Also, this property has an extra bathroom and storage room for the owner to use when on duty. The 9-unit apartment consists of 2 units with 2 beds and 2 baths for each unit, 7 units have 1 bed and 1 bath for each unit. On May 1, 2024 rent increased by 4%, the total gross income estimated per month is $18,425.00. Rent Income Per Year $221,100.00, + laundry income $ 2,700 per year. Total $ 223,800.00 a year. Yearly expenses: Estimated is approximately total of $ 38,865.00 a year. ( $ 1,440.00 for gas in laundry, $ 500 for Frontier internet Intercom front door,$240.00 internet for security camera, $ 4,500.00 for trash, $3,340.00 for water and power in laundry room, $ 19,257.00 property tax, $ 9,588.00 Insurance). Tenant pay their own gas and power, landlord pay water.

Listed by Surin Poommai | BRE #01354205 | Rise Realty
Last checked: 9 minutes ago | Last updated: July 18th, 2024 | Source CRMLS | DOM: 277
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Home details

Lot Sq. Ft
6,878
HOA Dues
$0/mo
Year built
1964
Garage
12 Car
Property Type:
Apartment
Status
Back Up Offer
MLS#
SR23191846
City
Los Angeles
County
Los Angeles
Time on Site
277 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 9
  • Total # of Buildings: 1
  • # of Leased Units: 9
  • # of Electric Meters: 9
  • # of Gas Meters: 9
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,867
  • Total Rent: $1,867
  • Pro Forma/Market Rent: $2,450
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 2
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,875
  • Total Rent: $1,875
  • Pro Forma/Market Rent: $2,850
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,250
  • Total Rent: $2,250
  • Pro Forma/Market Rent: $2,450
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,350
  • Total Rent: $2,350
  • Pro Forma/Market Rent: $2,450
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 2
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,444
  • Total Rent: $2,444
  • Pro Forma/Market Rent: $2,850
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 2
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,768
  • Total Rent: $1,768
  • Pro Forma/Market Rent: $2,450
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,872
  • Total Rent: $1,872
  • Pro Forma/Market Rent: $2,450
Unit Breakdown 8
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,375
  • Total Rent: $2,375
  • Pro Forma/Market Rent: $2,450
Unit Breakdown 9
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 2
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,674
  • Total Rent: $1,674
  • Pro Forma/Market Rent: $2,450
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5.2%
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $223,800
  • Net Operating Income: $184,935
  • Gross Operating Income: $223,800
  • Vacancy Allowance: $0
  • Laundry Income: $2,700
  • Laundry Own/Lease: Own
Annual Expense Breakdown
  • Total Operating Expense: $38,865
  • Gas/Fuel: $1,440
  • New Taxes: $19,257
  • Trash: $4,500
  • Insurance: $9,588
  • Professional Management: $0
  • Water/Sewer: $3,340
  • Other Expenses: $240
  • Other Expense Description: 500

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Property Details for 1234 S Saltair Ave

Interior Features
Cooling Information
  • Has Cooling
  • Wall/Window Unit(s)
Heating Information
  • Has Heating
  • Natural Gas, Wall Furnace
Laundry Information
  • Has Laundry
  • Community, Gas & Electric Dryer Hookup, Gas Dryer Hookup
Fireplace Information
  • No Fireplace
  • None
Room Information
  • Flooring: Carpet, Laminate, Tile
  • Main Floor Bedroom
Kitchen Information
  • Has Appliances
  • Dishwasher, Gas & Electric Range, Gas Oven
Interior Features
  • Block Walls, Storage, Unfurnished
  • Levels: Two
  • Security Features: Card/Code Access, Gated Community
Exterior Features
Exterior Information
  • Roof: Other
  • Has Fence
  • Block, Brick
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 12
  • # of Parking Spaces: 12
  • Has Parking
  • Parking Features: Assigned
Lot Information
  • Lot Features: 6-10 Units/Acre, Level
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • No View
  • View: None
  • Common Walls: No Common Walls
  • Total # of Units: 9
  • Parcel Number: 4263005055
  • Year Built Source: Assessor
  • Entry Level: 2
  • Property is not Attached
  • Accessibility Features: None
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
  • Utilities: Electricity Available, Electricity Connected, Natural Gas Available, Natural Gas Connected, Phone Available, Sewer Available, Sewer Connected, Water Available, Water Connected
Assessment Information
  • Has Assessments
  • Assessments: Unknown
Location / Neighborhood
Location Information
  • Directions: 405 Fwy south exit Wilshire Blvd West and left on South Saltire Ave.
  • Road Frontage Type: City Street
  • Road Surface Type: Alley Paved, Paved
Neighborhood Information
  • Community Features: Street Lights
View more facts & features

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Sale History for 1234 S Saltair Ave

Last sold for $885,008 on July 25th, 1991
  • July, 2024

  • Jul 16, 2024

    Date

    Back Up Offer

    CRMLS: SR23191846

    $3,655,000

    Price

  • Oct 15, 2023

    Date

    Active

    CRMLS: SR23191846

    $3,987,000

    Price

  • July, 1991

  • Jul 25, 1991

    Date

    Sold (Public Records)

    Public Records

    $885,008

    Price

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Tax History for 1234 S Saltair Ave

Assessed Value (2020): $1,430,987
Year Land Value Improved Value Assessed Value
2020 $646,776 $784,211 $1,430,987

Home Value Compared to the Market

This property vs the competition

1234 S Saltair Ave is listed 204.58% higher than the median list price for the city of Los Angeles which has a median list price of $1,200,000. The median price per/sqft for Los Angeles is $773 and this home is listed at $534.36 per/sqft which puts the price per square foot 30.87% lower than the median price per square foot for the city of Los Angeles.

About 1234 S Saltair Ave

Detailed summary of property

1234 S Saltair Ave is a apartment located in Los Angeles, CA 90025 and is currently in escrow to be sold. This apartment offers 11 bedrooms, 8.25 bathrooms, roughly 6,840 living square feet, and sits on an approximately 6,878 square foot lot. 1234 S Saltair Ave was first listed on ArdentRealEstateGroup.com on October 15, 2023. The homeowner is currently asking $3,550,000-$3,655,000 and was originally asking $3,987,000. The median priced home in Los Angeles is $1,200,000 with a median price per square foot of $773. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 204.58% higher than the median priced home. Local competing homes currently for sale include 10786 Missouri Ave, 1833 Benecia Ave and 3630 Beethoven St. While the average home in Los Angeles, CA is selling in 101 days, 1234 S Saltair Ave has a days on market of 277 days. There are currently 4052 homes for sale in the Los Angeles real estate market and 2723 of them are single family homes while 1208 of them are condos and 114 are townhomes. For more information on this home for sale at 1234 S Saltair Ave Los Angeles, CA 90025 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1234 S Saltair Ave

Public county record property details
Beds
12
Baths
12
Year built
1964
Sq. Ft.
6,840
Lot Size
6,878
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
33
APN
4263-005-055

The source for these homes facts are from public records.

90025 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,225,000
Median List Price/Sq.Ft.
$737
Median Sold Price
$995,000
Median Sold Price/Sq.Ft.
$743
Total Inventory
119
Median Sale to List Price %
99.6%
Avg Days on Market
31
Loan Type
Conventional (10.34%), FHA (0%), VA (0%), Cash (13.79%), Other (13.79%)

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Related Resources to 1234 S Saltair Ave

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.