Image 2 for 124 E 74th St, Los Angeles, CA 90003

View Photos

124 E 74th St Los Angeles, CA 90003

$1,295,000 Sold Price as of 02/08/2022

10 Beds
6 Baths
3,377 Sq.Ft.

Sold

$1,295,000 Sold Price as of 02/08/2022 Refinance Your Mortgage

Refinance Your Mortgage

Map preview of 124 E 74th St, Los Angeles, CA 90003

Property Overview: 124 E 74th St Los Angeles, CA has 10 bedrooms, 6 bathrooms, 3,377 living square feet and 7,702 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: This property provides a great opportunity for an investor to acquire an asset providing high return and considerable future rental upside & ADU potential, The property offers 6 units, with mix of 4 x 2 bd + 1 bath and 2 x 1 bd + 1bath. with 6 separate Structure, Each 2bedroom unit is stand alone unit and no sharing wall, The back Building has 2 x 1 bd + 1bath on top of the 5 covered Garages and there is a detached 1 car Garage. Total monthly Actual Gross income $ 8,650, Yearly GOI $ 103,800, GRM 12.4 and 5.2 Cap rate, with 35 % upside potential or the Projected Market Cap Rate 8 % while the Market GRM 8.9 on projected Yearly income $145,200, , There are total of 6 covered Garages with ADU potential. It has been reported by the seller that tenants have been paying rents on time for the last 18 months.

Listed by Eliza Kerndian | BRE #01398836 | Keller Williams Realty Westside

Last checked: 2 minutes ago | Last updated: May 13th, 2022 | Source CRMLS | DOM: 54

Home details

Lot Sq. Ft: 7,702
HOA Dues: $0/mo
Year built: 1927
Garage: 5 Car
Property Type:: Multi Family

Status: Sold
MLS#: 21107767
City: Los Angeles
County: Los Angeles
Time on Site: 1032 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 6
Total # of Buildings: 6

Unit Breakdown 1

# of Units: 1
# of Beds: 2
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,050
Total Rent: $1,050
Pro Forma/Market Rent: $2,150

Unit Breakdown 2

# of Units: 1
# of Beds: 2
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,050
Total Rent: $1,050
Pro Forma/Market Rent: $2,150

Unit Breakdown 3

# of Units: 1
# of Beds: 2
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,100
Total Rent: $1,050
Pro Forma/Market Rent: $2,150

Unit Breakdown 4

# of Units: 1
# of Beds: 2
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $2,150
Total Rent: $2,150
Pro Forma/Market Rent: $2,150

Unit Breakdown 5

# of Units: 1
# of Beds: 1
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,650
Total Rent: $1,650
Pro Forma/Market Rent: $1,695

Unit Breakdown 6

# of Units: 1
# of Beds: 1
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,650
Total Rent: $1,650
Pro Forma/Market Rent: $1,695

Multi-Family Income/Expense Information

Property Income and Analysis

Gross Rent Multiplier: 12.4
Gross Scheduled Income: --
Net Operating Income: $67,470
Gross Operating Income: $103,800

Annual Expense Breakdown

Total Operating Expense: --

Property Details for 124 E 74th St

Interior Features

Heating Information

Has Heating
Wall Furnace

Kitchen Information

Has Appliances
Disposal

Lot Details / Garage and Parking

Parking/Garage Information

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

Property Information

Total # of Units: 6
Parcel Number: 6022003011

Location / Neighborhood

Location Information

Directions: East of Main St, West of San Pedro, South of Florence, North of Manchester, On 74th St.

View more facts & features

Local Los Angeles Agent

Sale History for 124 E 74th St

Last sold for $1,295,000 on February 8th, 2022

February, 2022
Feb 8, 2022

Date

Sold

CRMLS: 21107767

$1,295,000

Price
Dec 1, 2021

Date

Active

CRMLS: 21107767

$1,295,000

Price
December, 2021
Dec 1, 2021

Date

Canceled

CRMLS: 21793552

$1,339,000

Price
Oct 14, 2021

Date

Active

CRMLS: 21793552

$1,339,000

Price
Listing provided courtesy of CRMLS

This property provides a great opportunity for an investor to acquire an asset providing high return and considerable future rental upside & ADU potential, The property offers 6 units, with mix of 4 x 2 bd + 1 bath and 2 x 1 bd + 1bath. with 6 separate Structure, Each 2bedroom unit is stand alone unit and no sharing wall, The back Building has 2 x 1 bd + 1bath on top of the 5 covered Garages and there is a detached 1 car Garage. Total monthly Actual Gross income $ 8,650, Yearly GOI $ 103,800, GRM 12.9 and 5.2 Cap rate, with 35 % upside potential or the Projected Market Cap Rate 7.08 % while the Market GRM 9.2 on projected Yearly income $145,200, , There are total of 6 covered Garages with ADU potential. It has been reported by the seller that tenants have been paying rents on time for the last 18 months.

Continue Reading
December, 2019
Dec 3, 2019

Date

Sold

CRMLS: RS19054784

$810,000

Price
May 28, 2019

Date

Pending

CRMLS: RS19054784

$789,990

Price
Apr 10, 2019

Date

Active Under Contract

CRMLS: RS19054784

$789,990

Price
Mar 12, 2019

Date

Active

CRMLS: RS19054784

$789,990

Price
Listing provided courtesy of CRMLS
December, 2019
Dec 2, 2019

Date

Sold (Public Records)

Public Records

$810,000

Price
June, 2005
Jun 10, 2005

Date

Sold (Public Records)

Public Records

$635,000

Price

Tax History for 124 E 74th St

Assessed Value (2020): $810,000

Year	Land Value	Improved Value	Assessed Value
2020	$600,000	$210,000	$810,000

Home Value Compared to the Market

This property vs the competition

124 E 74th St sold on February 8, 2022 for 15.62% 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 $383.48 per/sqft which puts the price per square foot 47.03% lower than the current median sale per square foot for the city of Los Angeles.

About 124 E 74th St

Detailed summary of property

124 E 74th St is a multi family that recently sold in Los Angeles, CA 90003. This multi family property offered 10 bedrooms, 6 bathrooms, roughly 3,377 living square feet, and sits on an approximately 7,702 square foot lot. 124 E 74th St was first listed on ArdentRealEstateGroup.com on December 1, 2021. The homeowner sold the property for $1,295,000. 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 15.62% higher than the current median priced home. Local homes that are currently for sale include 438 E 56th St, 6553 S Vermont Ave and 907 E 88th St. While the average home in Los Angeles, CA is selling in 106 days, 124 E 74th St has a days on market of 54 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 124 E 74th St Los Angeles, CA 90003 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 124 E 74th St

Public county record property details

Beds: 10
Baths: 6
Year built: 1927
Sq. Ft.: 3,377
Lot Size: 7,702
Stories: --

Type: Apartment House (5+ Units)
Pool: No
Spa: No
County: Los Angeles
Lot#: 54
APN: 6022-003-011

The source for these homes facts are from public records.

90003 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$599,000

Median List Price/Sq.Ft.

$562

Median Sold Price

$515,000

Median Sold Price/Sq.Ft.

$535

Total Inventory

Median Sale to List Price %

103%

Avg Days on Market

Loan Type

Conventional (41.67%), FHA (16.67%), VA (0%), Cash (16.67%), Other (25%)

Thinking of Selling?

Is this your property?
Thinking of Selling?
Call, Text or Message

(714) 706-1823

Homes for Sale Near 124 E 74th St

Nearby Homes for Sale

Recently Sold Homes Near 124 E 74th St

$860,000 Last Sold Price

4 Beds

6 Baths

2294 Sq.Ft.

130 E 73rd St
Los Angeles, CA 90003

$515,000 Last Sold Price

6 Beds

6 Baths

1390 Sq.Ft.

7415 S Main St
Los Angeles, CA 90003

$610,000 Last Sold Price

3 Beds

3 Baths

1584 Sq.Ft.

161 E 75th St
Los Angeles, CA 90003

$535,000 Last Sold Price

4 Beds

3 Baths

2075 Sq.Ft.

202 E 73rd St
Los Angeles, CA 90003

Related Resources to 124 E 74th St

New Listings in 90003

Popular Zip Codes

Popular Cities

Other Los Angeles Resources

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.