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1301 W 42nd St, Los Angeles, CA 90037
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1301 W 42nd St Los Angeles, CA 90037

$1,215,000 Sold Price as of 11/12/2021
  • 8 Beds
  • 7 Baths
  • 4,565 Sq.Ft.
Sold
$1,215,000 Sold Price as of 11/12/2021 Refinance Your Mortgage
Map preview of 1301 W 42nd St, Los Angeles, CA 90037

Property Overview: 1301 W 42nd St Los Angeles, CA has 8 bedrooms, 7 bathrooms, 4,565 living square feet and 6,294 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: is proud to present 1301 West 42nd St, located at the heart of a culturally vibrant neighborhood of Southern Los Angeles. This property consists of six exceptional units totaling 4,565 SF of living area on a sizeable 6,294 SF lot. An exceptional value-add investment opportunity located in the highly desirable opportunity zone, just minutes away from USC and Exposition Park. The property is priced to sell at high proforma CAP Rate and low price per unit compared to other properties. This offering consists of two, easily maintained buildings, a two-story duplex and a two-story fourplex that features a unique unit mix. The duplex consists of a 3 Bedroom x 2 Bath unit and a 1 Bed x 1 Bath unit above. This duplex provides adequate parking that consists of one parking garage and one tandem parking space. It has been recently upgraded with a new coat of paint along the exteriors and new plumbing fixtures. The fourplex consist of four 1 Bed x 1 Bath units, and ample street parking for its tenants. All units are equipped with window A/C units and are separately metered for electricity and gas. With the largest unit (3B + 2B). it is a prime value add with good cash on cash return. adding market rent to a future home for potential students or owner use, with exceptional upside potential offering more than 7% Pro Forma Cap Rate. Although the property has been operated as 6-units since before the current owner bought it, and rent registration shows 6-units, title profile and Zimas shows 5-units. Buyer to do their own due diligence.

Listed by Marc Schwartz | BRE #01515007 | GIG Real Estate Inc.
Last checked: 8 minutes ago | Last updated: March 23rd, 2022 | Source CRMLS | DOM: 4

Home details

Lot Sq. Ft
6,294
HOA Dues
$0/mo
Year built
1911
Garage
1 Car
Property Type:
Multi Family
Status
Sold
MLS#
AR21230445
City
Los Angeles
County
Los Angeles
Time on Site
1067 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 6
  • Total # of Buildings: 2
  • # of Leased Units: 5
  • # of Electric Meters: 6
  • # of Gas Meters: 6
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,800
  • Total Rent: $2,800
  • Pro Forma/Market Rent: $2,800
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $884
  • Total Rent: $884
  • Pro Forma/Market Rent: $1,600
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $919
  • Total Rent: $919
  • Pro Forma/Market Rent: $1,600
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $973
  • Total Rent: $973
  • Pro Forma/Market Rent: $1,600
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,014
  • Total Rent: $1,014
  • Pro Forma/Market Rent: $1,600
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $816
  • Total Rent: $816
  • Pro Forma/Market Rent: $1,600
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.8%
  • Gross Rent Multiplier: 14.63
  • Gross Scheduled Income: $88,872
  • Net Operating Income: $62,162
  • Gross Operating Income: --
  • Other Income Description: 3+2 Vacant, Performa Rent
Annual Expense Breakdown
  • Total Operating Expense: $24,044
  • Electric: $0
  • Gas/Fuel: $0
  • Trash: $0
  • Gardener: $480
  • Insurance: $1,200
  • Maintenance: $1,500
  • Professional Management: $0
  • Water/Sewer: $4,034

Property Details for 1301 W 42nd St

Interior Features
Laundry Information
  • No Laundry
  • None
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 1
  • # of Parking Spaces: 1
Lot Information
  • Lot Features: 6-10 Units/Acre
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 6
  • Parcel Number: 5020004024
  • Year Built Source: Assessor
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: Head south on Normandie Ave and make a left on W 42nd St, til you reach Raymond Ave. Destination should be on your left.
Neighborhood Information
  • Community Features: Urban
View more facts & features

Local Los Angeles Agent

Sale History for 1301 W 42nd St

Last sold for $1,215,000 on November 12th, 2021

  • November, 2021

  • Nov 12, 2021

    Date

    Sold

    CRMLS: AR21230445

    $1,215,000

    Price

  • Oct 18, 2021

    Date

    Active

    CRMLS: AR21230445

    $1,300,000

    Price

  • August, 2021

  • Aug 4, 2021

    Date

    Withdrawn

    CRMLS: SW21059968

    $1,249,999

    Price

  • May 19, 2021

    Date

    Price Change

    CRMLS: SW21059968

    $1,249,999

    Price

  • Mar 23, 2021

    Date

    Active

    CRMLS: SW21059968

    $1,299,999

    Price

  • Listing provided courtesy of CRMLS

    WHAT A HISTORICAL AREA!!!!Don't miss this Income producing house and apartment unit opportunity. The property has 2 buildings structures and a small one care garage structure. Building one has a 3brm/2bath house and a 1brm/1bath apartment on the top. Building two has 2-1 bed/1 bath units on the bottom and 2- 1brm/1bath on top. Each unit is equipped with gas and electrical meter. Enjoy the Historical/Landmark buildings near the neighbor including Expo park, USC Campus, Science Center, Banc of California and L.A. Coliseum.

  • February, 2021

  • Feb 1, 2021

    Date

    Expired

    CRMLS: MB20216080

    $1,350,000

    Price

  • Jan 2, 2021

    Date

    Withdrawn

    CRMLS: MB20216080

    $1,350,000

    Price

  • Oct 13, 2020

    Date

    Active

    CRMLS: MB20216080

    $1,350,000

    Price

  • Listing provided courtesy of CRMLS

    Great opportunity for owner occupied units. The new owner can occupied the large 3 bedroom and 2 bath home and rent the rear 5 units. This good-looking property was recently painted from the outside. Tenants are responsible for electricity and gas. Each unit comes with gas and electrical meter. New owner is responsible for water, property tax and insurance. Conveniently located near the 10 fwy, shopping centers, Expo Park, USC Campus and the L.A. Coliseum.

  • March, 1995

  • Mar 27, 1995

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 1301 W 42nd St

Assessed Value (2020): $403,761
Year Land Value Improved Value Assessed Value
2020 $158,627 $245,134 $403,761

Home Value Compared to the Market

This property vs the competition

1301 W 42nd St sold on November 12, 2021 for 16.07% 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 $284.78 per/sqft which puts the price per square foot 60.67% lower than the current median sale per square foot for the city of Los Angeles.

About 1301 W 42nd St

Detailed summary of property

1301 W 42nd St is a multi family that recently sold in Los Angeles, CA 90037. This multi family property offered 8 bedrooms, 7 bathrooms, roughly 4,565 living square feet, and sits on an approximately 6,294 square foot lot. 1301 W 42nd St was first listed on ArdentRealEstateGroup.com on October 18, 2021. The homeowner sold the property for $1,215,000. 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 16.07% higher than the current median priced home. Local homes that are currently for sale include 1171 W 38th St, 1366 W 37th Pl and 1520 W 37th St. While the average home in Los Angeles, CA is selling in 106 days, 1301 W 42nd St has a days on market of 4 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 1301 W 42nd St Los Angeles, CA 90037 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1301 W 42nd St

Public county record property details
Beds
7
Baths
5
Year built
1911
Sq. Ft.
4,565
Lot Size
6,294
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
38
APN
5020-004-024

The source for these homes facts are from public records.

90037 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$688,000
Median List Price/Sq.Ft.
$546
Median Sold Price
$626,228
Median Sold Price/Sq.Ft.
$437
Total Inventory
36
Median Sale to List Price %
125.5%
Avg Days on Market
17
Loan Type
Conventional (50%), FHA (0%), VA (0%), Cash (0%), Other (0%)

Thinking of Selling?

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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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