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1237 W 93Rd St, Los Angeles, CA 90044
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1237 W 93Rd St Los Angeles, CA 90044

$1,125,000 Sold Price as of 03/08/2024
  • 7 Beds
  • 6 Baths
  • 3,450 Sq.Ft.
Sold
$1,125,000 Sold Price as of 03/08/2024 Refinance Your Mortgage
Map preview of 1237 W 93Rd St, Los Angeles, CA 90044

Property Overview: 1237 W 93Rd St Los Angeles, CA has 7 bedrooms, 6 bathrooms, 3,450 living square feet and 12,129 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Introducing the rare investment opportunity of 1237 W 93rd St, nestled in the heart of Unincorporated Los Angeles County. This asset is a value add 6-Unit Apartment comprised of (6) 1-Bed/1-Bath Units with RTI plans for (1) additional 1-Bed/1-Bath ADU. This 6+1 RTI unit building is located in a rapidly growing submarket of Los Angeles with plenty of value for an investor looking to increase the value. Going in at an attractive 5.44% Cap rate with 63% in Rental upside stabilizing at a 10.20% cap rate even before starting the ADUs! With RTI plans for an ADU, the buyer can begin adding value immediately and take advantage of this 12,220 Square foot lot. After the construction of the ADU, the cap rate jumps to 6.46% (Including estimated construction Costs). Located in an unincorporated area of Los Angeles County and NOT in Los Angeles city, the subject property is steps from the new recreational development at 5800 Figueroa, as well as new apartment developments in the area.

Listed by Olga Wright | BRE #01315042 | Lyon Stahl Investment Real Estate, Inc.
Co-listed by Cameron Samimi | BRE #02035763 | Lyon Stahl Investment Real Estate, Inc.
Last checked: 14 minutes ago | Last updated: March 8th, 2024 | Source CRMLS | DOM: 135

Home details

Lot Sq. Ft
12,129
HOA Dues
$0/mo
Year built
1924
Garage
6 Car
Property Type:
Apartment
Status
Sold
MLS#
SB23181553
City
Los Angeles
County
Los Angeles
Time on Site
357 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 6
  • Total # of Buildings: 3
  • # of Leased Units: 5
  • # of Electric Meters: 6
  • # of Gas Meters: 6
  • # 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: $1,895
  • Total Rent: $1,895
  • Pro Forma/Market Rent: $1,995
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,075
  • Total Rent: $1,075
  • Pro Forma/Market Rent: $1,995
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,082
  • Total Rent: $1,082
  • Pro Forma/Market Rent: $1,995
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,995
  • Total Rent: $1,995
  • Pro Forma/Market Rent: $1,995
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,133
  • Total Rent: $1,133
  • Pro Forma/Market Rent: $1,995
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,396
  • Total Rent: $1,396
  • Pro Forma/Market Rent: $1,995
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 0
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $1,995
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5.44%
  • Gross Rent Multiplier: 12.15
  • Gross Scheduled Income: $102,912
  • Net Operating Income: $68,027
  • Gross Operating Income: $99,825
  • Vacancy Allowance: $3,087
Annual Expense Breakdown
  • Total Operating Expense: $31,798
  • Electric: $300
  • Gas/Fuel: $300
  • New Taxes: $15,799
  • Trash: $0
  • Gardener: $1,440
  • Insurance: $2,588
  • Maintenance: $3,900
  • Professional Management: $5,146
  • Water/Sewer: $2,800

Property Details for 1237 W 93Rd St

Interior Features
Laundry Information
  • No Laundry
  • None
Interior Features
  • Levels: One
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 6
  • # of Parking Spaces: 9
Lot Information
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 6
  • Parcel Number: 6056002032
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is not Attached
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Assessment Information
  • No Assessments
  • Assessments: None
Location / Neighborhood
Location Information
  • Directions: Off Normandie, South of Manchester
Neighborhood Information
  • Community Features: Curbs, Dog Park, Park, Sidewalks
View more facts & features

Local Los Angeles Agent

Sale History for 1237 W 93Rd St

Last sold for $1,125,000 on March 8th, 2024

  • March, 2024

  • Mar 8, 2024

    Date

    Sold

    CRMLS: SB23181553

    $1,125,000

    Price

  • Sep 28, 2023

    Date

    Active

    CRMLS: SB23181553

    $1,295,000

    Price

  • August, 2022

  • Aug 19, 2022

    Date

    Sold

    CRMLS: 22159207

    $875,000

    Price

  • May 19, 2022

    Date

    Active

    CRMLS: 22159207

    $1,300,000

    Price

  • Listing provided courtesy of CRMLS

    Six unit Bungalow style property consists of three detached buildings comprised of two, 1 bedroom units. Each tenant has marked parking space. Property also features a storage unit and a long driveway which allows easy entry and exit for the tenants. Unit numbers are posted with current rents.

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Tax History for 1237 W 93Rd St

Assessed Value (2020): $27,263
Year Land Value Improved Value Assessed Value
2020 $14,431 $12,832 $27,263

Home Value Compared to the Market

This property vs the competition

1237 W 93Rd St sold on March 8, 2024 for 11.61% higher than the current median sold price for the city of Los Angeles which is $1,120,000. The median sold price per/sqft for Los Angeles is $724 and this home is sold at $362.32 per/sqft which puts the price per square foot 49.96% lower than the current median sale per square foot for the city of Los Angeles.

About 1237 W 93Rd St

Detailed summary of property

1237 W 93Rd St is a apartment that recently sold in Los Angeles, CA 90044. This apartment offered 7 bedrooms, 6 bathrooms, roughly 3,450 living square feet, and sits on an approximately 12,129 square foot lot. 1237 W 93Rd St was first listed on ArdentRealEstateGroup.com on September 28, 2023. The homeowner sold the property for $1,125,000. Home in Los Angeles are selling for a median price of $1,120,000 and a median price per square foot of $724. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 11.61% higher than the current median priced home. Local homes that are currently for sale include 7612 S S Hoover St St, 430 W 80th St and 11500 Berendo Ave. While the average home in Los Angeles, CA is selling in 106 days, 1237 W 93Rd St has a days on market of 135 days. There are currently 4052 homes for sale in the Los Angeles real estate market and 2782 of them are single family homes while 1148 of them are condos and 116 are townhomes. For more information on this home for sale at 1237 W 93Rd St Los Angeles, CA 90044 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1237 W 93Rd St

Public county record property details
Beds
6
Baths
6
Year built
1924
Sq. Ft.
3,432
Lot Size
12,128
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
32
APN
6056-002-032

The source for these homes facts are from public records.

90044 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$650,000
Median List Price/Sq.Ft.
$513
Median Sold Price
$717,000
Median Sold Price/Sq.Ft.
$513
Total Inventory
87
Median Sale to List Price %
102.58%
Avg Days on Market
27
Loan Type
Conventional (38.1%), FHA (23.81%), VA (0%), Cash (9.52%), Other (9.52%)

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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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