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127 E 88Th St, Los Angeles, CA 90003
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127 E 88Th St Los Angeles, CA 90003

$4,400,000
  • 256 Beds
  • 132 Baths
  • 10,409 Sq.Ft.
For Sale
$4,400,000 Get Pre-Qualified
Map preview of 127 E 88Th St, Los Angeles, CA 90003

Property Overview: 127 E 88Th St Los Angeles, CA has 256 bedrooms, 132 bathrooms, 10,409 living square feet and 11,000 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: This Property is an 11,000 SF building on a 10,409 SF lot comprised of eight (8) four-bedroom/two-bathroom units and two (2) studios. The studios are currently unpermitted. There are sixteen (16) parking spots. The property has just finished construction and the Certificate of Occupancy is being issued in less than 30 days. 127 E 88th Street offers a unique opportunity for an investor to acquire a premium new-construction asset exempt from LA City Rent Control in a strong rental submarket of Los Angeles.

Listed by Marcus Nasrollahy | BRE #02207189 | Lyon Stahl Investment Real Estate, Inc.
Co-listed by Nico Rosmarin | BRE #02023847 | Lyon Stahl Investment Real Estate, Inc.
Last checked: 15 minutes ago | Last updated: August 29th, 2024 | Source CRMLS | DOM: 44

Home details

Lot Sq. Ft
11,000
HOA Dues
$0/mo
Year built
2024
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
SB24161367
City
Los Angeles
County
Los Angeles
Time on Site
44 days
Property Unit Breakdown
Unit Mix Summary
  • Total # of Units: 10
  • Total # of Buildings: --
Unit Breakdown 1
  • # of Units: 8
  • # of Beds: 32
  • # of Baths: 16
  • Actual Rent: $4,300
  • Total Rent: --
Unit Breakdown 2
  • # of Units: 2
  • # of Beds: 0
  • # of Baths: 2
  • Actual Rent: $1,600
  • Total Rent: --
Property Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $459,120
  • Net Operating Income: $336,529
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: --

Open Houses for 127 E 88Th St

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Property Details for 127 E 88Th St

Interior Features
Laundry Information
  • Dryer Included, Washer Included
Lot Details / Garage and Parking
Lot Information
  • Lot Features: Lot 10000-19999 Sqft
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Total # of Units: 10
  • Parcel Number: 6041003034
  • Entry Level: 1
Location / Neighborhood
Location Information
  • Directions: Cross Streets are 88th and Main
View more facts & features

Local Los Angeles Agent

Sale History for 127 E 88Th St

Last sold for $400,000 on August 24th, 2018

  • August, 2024

  • Aug 5, 2024

    Date

    Active

    CRMLS: SB24161367

    $4,800,000

    Price

  • April, 2020

  • Apr 2, 2020

    Date

    Expired

    CRMLS: 19449680

    $899,000

    Price

  • Sep 11, 2019

    Date

    Withdrawn

    CRMLS: 19449680

    $899,000

    Price

  • Apr 2, 2019

    Date

    Active

    CRMLS: 19449680

    $899,000

    Price

  • Listing provided courtesy of CRMLS

    Great Opportunity for Investors and Developers - TWO LAR3 contiguous lots over 10,000 sq ft -DEVELOPERS SPECIAL -- ZONED LAR3 build 12 units or 21 units TOC ( Buyer to verify ) - BOTH properties to be sold TOGETHER Price listed is for purchase of the two MLS # AND APN # 6041-003-034 AND APN # 6041-003-035 simultaneously - t=The two Properties together currently produce an income of approximately $3000 per month - while buyer gets permits and entitlement -Property being sold as land value - Under City of L.A. rent control ordinance. Sold "As Is" and " Where Is", with current tenants in place as development opportunity - Great Opportunity for Investors and Developers Close to University of Southern California USC Great Visibility and close proximity to shopping centers, schools, places of work, Freeway access to I-110, and I-10.public records show 2 Bed and 2 baths only - Buyer & Agent to check any information of these lots with Planning Department of City of Los Angeles.

  • August, 2018

  • Aug 27, 2018

    Date

    Sold

    CRMLS: 18311294

    $400,000

    Price

  • May 18, 2018

    Date

    Pending

    CRMLS: 18311294

    $420,500

    Price

  • May 18, 2018

    Date

    Price Change

    CRMLS: 18311294

    $420,500

    Price

  • May 16, 2018

    Date

    Active Under Contract

    CRMLS: 18311294

    $450,000

    Price

  • Feb 9, 2018

    Date

    Active

    CRMLS: 18311294

    $450,000

    Price

  • Listing provided courtesy of CRMLS

    Court confirmation for the subject sale is scheduled May 30th, 2018 at 10:30 am in Dept. 79, at the LA Superior Court in Downtown Los Angeles. Asking Price is the 1st minimum overbid amount. All potential over bidders must bring a cashier's check for at least 10% of the first minimum overbid amount, payable to "The Estate of Armando D'La Cubba". Calling all Investors, Developers, and buyers for an amazing rehab opportunity! For sale after 30+ years. Great opportunity to purchase 2 contiguous parcels totaling over 10,000 sqft. for potential development. Adjoining property located at 131 E 88th St. Los Angeles, CA 90003_ Standard Sale (APN: 6041-003-035) is also for sale, and can be bought together with the subject property. However, it is not compulsory to buy both properties together. Zoning per Title is LAR3. Under City of L.A. rent control ordinance. Sold "As Is" and " Where Is", with current tenants in place.

  • August, 2018

  • Aug 24, 2018

    Date

    Sold (Public Records)

    Public Records

    $400,000

    Price

  • August, 2018

  • Aug 24, 2018

    Date

    Sold (Public Records)

    Public Records

    $400,000

    Price

Show More

Tax History for 127 E 88Th St

Assessed Value (2020): $408,000
Year Land Value Improved Value Assessed Value
2020 $306,000 $102,000 $408,000

Home Value Compared to the Market

This property vs the competition

127 E 88Th St is listed 266.67% 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 $768 and this home is listed at $422.71 per/sqft which puts the price per square foot 44.96% lower than the median price per square foot for the city of Los Angeles.

About 127 E 88Th St

Detailed summary of property

127 E 88Th St is a multi family located in Los Angeles, CA 90003 and is currently for sale. This multi family property offers 256 bedrooms, 132 bathrooms, roughly 10,409 living square feet, and sits on an approximately 11,000 square foot lot. 127 E 88Th St was first listed on ArdentRealEstateGroup.com on August 5, 2024. The homeowner is currently asking $4,400,000 and was originally asking $4,800,000. The median priced home in Los Angeles is $1,200,000 with a median price per square foot of $768. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 266.67% higher than the median priced home. Local competing homes currently for sale include 5131 W Jefferson Blvd, 600 S New Hampshire Ave and 112 N Gage Ave. While the average home in Los Angeles, CA is selling in 106 days, 127 E 88Th St has a days on market of 44 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 127 E 88Th 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 127 E 88Th St

Public county record property details
Beds
2
Baths
2
Year built
1968
Sq. Ft.
1,768
Lot Size
5,203
Stories
--
Type
Duplex (2 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
92
APN
6041-003-034

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.
$574
Median Sold Price
$515,000
Median Sold Price/Sq.Ft.
$535
Total Inventory
47
Median Sale to List Price %
103%
Avg Days on Market
31
Loan Type
Conventional (41.67%), FHA (16.67%), VA (0%), Cash (16.67%), Other (25%)

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(714) 706-1823

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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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