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1237 Amherst Ave, Los Angeles, CA 90025
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1237 Amherst Ave Los Angeles, CA 90025

$3,600,000
  • 12 Beds
  • 10 Baths
  • 6,959 Sq.Ft.
For Sale
$3,600,000 Get Pre-Qualified
Map preview of 1237 Amherst Ave, Los Angeles, CA 90025

Property Overview: 1237 Amherst Ave Los Angeles, CA has 12 bedrooms, 10 bathrooms, 6,959 living square feet and 7,004 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: 1237 Amherst Avenue is an incredibly clean and well-maintained 9-unit ‘bread-and-butter’ multifamily opportunity situated on a quiet side street in coveted West Los Angeles offered at a 5.1% cap rate! The property is currently generating excellent rental income with the average rent of $2,507/month per unit. There is additional upside of approximately 15-20% from current to market which may be achieved with upgraded in-unit renovations such as modernized and renovated kitchens and bathrooms. The property offers a diverse unit mix of six (6) one-bedroom units and three (3) two-bedroom units (one of which is a spacious Owner's Unit facing Amherst). Many of the units feature private balconies or patios. 1237 Amherst has completed the LA Seismic Retrofit (CofC dated 5/1/2020).

Listed by Everett Wong | BRE #01991247 | Greysteel California, Inc.
Last checked: 9 minutes ago | Last updated: September 25th, 2024 | Source CRMLS | DOM: 11

Home details

Lot Sq. Ft
7,004
HOA Dues
$0/mo
Year built
1966
Garage
8 Car
Property Type:
Mixed Use
Status
Active
MLS#
PW24193373
City
Los Angeles
County
Los Angeles
Time on Site
11 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 9
  • Total # of Buildings: 1
  • # of Electric Meters: 10
  • # of Gas Meters: 10
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,860
  • Total Rent: $2,860
  • Pro Forma/Market Rent: $3,450
Unit Breakdown 2
  • # 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: $2,550
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,184
  • Total Rent: $2,184
  • Pro Forma/Market Rent: $2,550
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $3,120
  • Total Rent: $3,120
  • Pro Forma/Market Rent: $3,450
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,241
  • Total Rent: $2,241
  • Pro Forma/Market Rent: $2,550
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,219
  • Total Rent: $2,219
  • Pro Forma/Market Rent: $2,550
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,444
  • Total Rent: $2,444
  • Pro Forma/Market Rent: $2,550
Unit Breakdown 8
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 3
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $3,115
  • Total Rent: $3,115
  • Pro Forma/Market Rent: $3,450
Unit Breakdown 9
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,132
  • Total Rent: $2,132
  • Pro Forma/Market Rent: $2,550
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5.1%
  • Gross Rent Multiplier: 13.3
  • Gross Scheduled Income: $270,780
  • Net Operating Income: $184,409
  • Gross Operating Income: --
  • Laundry Income: $888
Annual Expense Breakdown
  • Total Operating Expense: $80,136
  • Electric: $0
  • Gas/Fuel: $1,052
  • Trash: $4,637
  • Insurance: $7,928
  • Professional Management: $10,542
  • Water/Sewer: $3,382

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Property Details for 1237 Amherst Ave

Interior Features
Laundry Information
  • Has Laundry
  • Common Area
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 8
  • # of Parking Spaces: 11
  • No
  • Parking Features: None
Lot Information
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 9
  • Parcel Number: 4263001008
  • Year Built Source: Public Records
  • Entry Level: 1
  • Property is not Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: West of Bundy. South of Wilshire Blvd.
Neighborhood Information
  • Community Features: Urban
View more facts & features

Local Los Angeles Agent

Sale History for 1237 Amherst Ave

Last sold on July 1st, 2014

  • September, 2024

  • Sep 17, 2024

    Date

    Active

    CRMLS: PW24193373

    $3,600,000

    Price

  • July, 2014

  • Jul 1, 2014

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • May, 2000

  • May 26, 2000

    Date

    Sold (Public Records)

    Public Records

    $1,075,000

    Price

Show More

Tax History for 1237 Amherst Ave

Assessed Value (2020): $1,461,578
Year Land Value Improved Value Assessed Value
2020 $896,625 $564,953 $1,461,578

Home Value Compared to the Market

This property vs the competition

1237 Amherst Ave is listed 200% 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 $771 and this home is listed at $517.32 per/sqft which puts the price per square foot 32.9% lower than the median price per square foot for the city of Los Angeles.

About 1237 Amherst Ave

Detailed summary of property

1237 Amherst Ave is a mixed use located in Los Angeles, CA 90025 and is currently for sale. This mixed use property offers 12 bedrooms, 10 bathrooms, roughly 6,959 living square feet, and sits on an approximately 7,004 square foot lot. 1237 Amherst Ave was first listed on ArdentRealEstateGroup.com on September 17, 2024. The homeowner is currently asking $3,600,000. The median priced home in Los Angeles is $1,200,000 with a median price per square foot of $771. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 200% higher than the median priced home. Local competing homes currently for sale include 1128 Stanley Ave, 315 Cherry Ave and 2545 E Broadway. While the average home in Los Angeles, CA is selling in 106 days, 1237 Amherst Ave has a days on market of 11 days. There are currently 4139 homes for sale in the Los Angeles real estate market and 2834 of them are single family homes while 1183 of them are condos and 115 are townhomes. For more information on this home for sale at 1237 Amherst 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 1237 Amherst Ave

Public county record property details
Beds
12
Baths
12
Year built
1966
Sq. Ft.
6,959
Lot Size
7,002
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
7
APN
4263-001-008

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
$1,159,000
Median List Price/Sq.Ft.
$745
Median Sold Price
$1,151,000
Median Sold Price/Sq.Ft.
$714
Total Inventory
134
Median Sale to List Price %
97.96%
Avg Days on Market
23
Loan Type
Conventional (13.79%), FHA (0%), VA (0%), Cash (20.69%), Other (10.34%)

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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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