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1267 E 56Th St, Los Angeles, CA 90011
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1267 E 56Th St Los Angeles, CA 90011

$1,295,000
  • 6 Beds
  • 5 Baths
  • 2,094 Sq.Ft.
For Sale
$1,295,000 Get Pre-Qualified
Map preview of 1267 E 56Th St, Los Angeles, CA 90011

Property Overview: 1267 E 56Th St Los Angeles, CA has 6 bedrooms, 5 bathrooms, 2,094 living square feet and 5,392 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: 6.99% Cap Rate! 1267 E 56th St is a fantastic investment opportunity for any investor or owner/user in a vibrant area of South Los Angeles. This 4-plex with 2 new ADU units are operating close to a 7% Cap Rate with current tenants in place. Located in Historic South Central, this building boasts an excellent unit mix of (3) 1-Bed/1-Bath, and (1) 3-Bed/2- Bath, ideal for an owner/user. Highlighted by a massive 3-Bed/2-Bath front unit, this asset is ideal for an owner/user to live in a newly remodeled unit and cash flow from the remaining three. The offering presents any investor or owner/user the opportunity to acquire an incredible 4-Plex in one of LA’s quickly growing sub-pockets. Notably, two of the 1-Bed/1-Bath units are newly constructed ADUs, exempt from any rent control laws, adding a valuable element to this investment opportunity. The entire building has been renovated and rented out at strong rents and will operate at a 7% cap rate for an investor. 1267 E 56th St is located minutes from USC, Downtown LA, Gilbert Lindsay Park, Exposition Park, Lucas Museum, Arts District, as well as billions of dollars worth of development in Downtown LA.

Listed by Aaron Jacobson | BRE #02100737 | Lyon Stahl Investment Real Estate, Inc.
Last checked: 16 minutes ago | Last updated: April 8th, 2024 | Source CRMLS | DOM: 66
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Home details

Lot Sq. Ft
5,392
HOA Dues
$0/mo
Year built
1940
Garage
--
Property Type:
Fourplex
Status
Active
MLS#
SB24034558
City
Los Angeles
County
Los Angeles
Time on Site
73 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 2
  • # of Electric Meters: 4
  • # of Gas Meters: 4
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Actual Rent: $3,300
  • Total Rent: $3,300
  • Pro Forma/Market Rent: $3,915
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Actual Rent: $2,200
  • Total Rent: $2,200
  • Pro Forma/Market Rent: $2,407
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Actual Rent: $2,200
  • Total Rent: $2,200
  • Pro Forma/Market Rent: $2,407
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Actual Rent: $2,200
  • Total Rent: $2,200
  • Pro Forma/Market Rent: $2,407
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 6.99%
  • Gross Rent Multiplier: 10.9
  • Gross Scheduled Income: $118,800
  • Net Operating Income: $90,547
  • Gross Operating Income: $115,236
Annual Expense Breakdown
  • Total Operating Expense: $24,689
  • Electric: $1,200
  • Gas/Fuel: $0
  • New Taxes: $15,670
  • Trash: $800
  • Gardener: $1,440
  • Insurance: $1,780
  • Maintenance: $2,600
  • Water/Sewer: $1,200

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Property Details for 1267 E 56Th St

Interior Features
Laundry Information
  • Has Laundry
  • Inside
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 2
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: 4
  • Parcel Number: 5104018030
  • Year Built Source: Assessor
  • 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: Off Hooper and Slauson
Neighborhood Information
  • Community Features: Biking, Curbs, Park, Sidewalks
View more facts & features

Local Los Angeles Agent

Sale History for 1267 E 56Th St

Last sold for $625,000 on February 24th, 2023

  • February, 2024

  • Feb 20, 2024

    Date

    Active

    CRMLS: SB24034558

    $1,295,000

    Price

  • February, 2023

  • Feb 24, 2023

    Date

    Sold

    CRMLS: MB22213129

    $625,000

    Price

  • Oct 20, 2022

    Date

    Active

    CRMLS: MB22213129

    $650,000

    Price

  • Listing provided courtesy of CRMLS

    This property offers two income producing attached units for your discerning buyer who is looking for a multiple use property. The first unit features 3 bedrooms with 2 bathrooms with a nice floor plan. The second unit features 1 bedroom with 1 bathroom. Overall great income potential. You can live in one and rent the other. Fully fenced front, side and back yard. Only minutes away from Downtown Los Angeles, LA Live, Crypto Arena and near major freeways. Back on the Market - Subject to Cancellation of Current Escrow.

  • September, 2015

  • Sep 11, 2015

    Date

    Sold (Public Records)

    Public Records

    $365,000

    Price

  • November, 2010

  • Nov 10, 2010

    Date

    Sold (Public Records)

    Public Records

    $277,000

    Price

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Tax History for 1267 E 56Th St

Assessed Value (2020): $395,085
Year Land Value Improved Value Assessed Value
2020 $205,769 $189,316 $395,085

Home Value Compared to the Market

This property vs the competition

1267 E 56Th St is listed 5.71% higher than the median list price for the city of Los Angeles which has a median list price of $1,225,000. The median price per/sqft for Los Angeles is $774 and this home is listed at $618.43 per/sqft which puts the price per square foot 20.1% lower than the median price per square foot for the city of Los Angeles.

About 1267 E 56Th St

Detailed summary of property

1267 E 56Th St is a fourplex located in Los Angeles, CA 90011 and is currently for sale. This fourplex offers 6 bedrooms, 5 bathrooms, roughly 2,094 living square feet, and sits on an approximately 5,392 square foot lot. 1267 E 56Th St was first listed on ArdentRealEstateGroup.com on February 19, 2024. The homeowner is currently asking $1,295,000. The median priced home in Los Angeles is $1,225,000 with a median price per square foot of $774. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 5.71% higher than the median priced home. Local competing homes currently for sale include 4473 Mettler St, 5017 S San Pedro St and 1749 E 69th St. While the average home in Los Angeles, CA is selling in 96 days, 1267 E 56Th St has a days on market of 66 days. There are currently 3485 homes for sale in the Los Angeles real estate market and 2372 of them are single family homes while 1013 of them are condos and 94 are townhomes. For more information on this home for sale at 1267 E 56Th St Los Angeles, CA 90011 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1267 E 56Th St

Public county record property details
Beds
3
Baths
2
Year built
1940
Sq. Ft.
1,394
Lot Size
5,391
Stories
--
Type
Single Family Residential
Pool
No
Spa
No
County
Los Angeles
Lot#
214
APN
5104-018-030

The source for these homes facts are from public records.

90011 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$620,000
Median List Price/Sq.Ft.
$460
Median Sold Price
$550,000
Median Sold Price/Sq.Ft.
$405
Total Inventory
40
Median Sale to List Price %
104.76%
Avg Days on Market
54
Loan Type
Conventional (33.33%), FHA (25%), VA (0%), Cash (33.33%), Other (8.33%)

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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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