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1322 S Catalina St, Los Angeles, CA 90006
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1322 S Catalina St Los Angeles, CA 90006

$2,360,000 Sold Price as of 10/02/2020
  • 4 Beds
  • 4 Baths
  • 10,066 Sq.Ft.
Sold
$2,360,000 Sold Price as of 10/02/2020 Refinance Your Mortgage
Map preview of 1322 S Catalina St, Los Angeles, CA 90006

Property Overview: 1322 S Catalina St Los Angeles, CA has 4 bedrooms, 4 bathrooms, 10,066 living square feet and 6,805 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Marcus & Millichap is pleased to present 1322 South Catalina Street, Los Angeles, CA 90006. Built in 1927, this unique 18-unit property totals 10,066 SF located in the heart of Koreatown, between Normandie Ave & Vermont Ave. The building features a unit mix that includes 14 singles, 2 junior one-bedrooms*, and 2 one-bedroom apartments.This offering presents an investor the opportunity to capture a 69% overall increase in rent with a pro forma CAP rate of 8.07% through renovations when the units turn. The property is being offered at a low price per unit of $141,667 and a low price per square foot of $253. The building is well-maintained and separately metered for gas and electricity.The Koreatown submarket remains one of the most desirable addresses for both living and working for residents who need to commute to both Downtown Los Angeles and Hollywood. With over 110,000 people living within one mile and an average home value of over $830,000 within a three-mile radius.

Listed by Neema Ahadian | BRE #01346750 | Marcus & Millichap
Last checked: 14 minutes ago | Last updated: June 5th, 2023 | Source CRMLS | DOM: 31

Home details

Lot Sq. Ft
6,805
HOA Dues
$0/mo
Year built
1927
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
20595238
City
Los Angeles
County
Los Angeles
Time on Site
1222 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 18
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 14
  • # of Beds: 0
  • # of Baths: 0
  • Furnishing: Unfurnished
  • Actual Rent: $773
  • Total Rent: $10,827
  • Pro Forma/Market Rent: $19,530
Unit Breakdown 2
  • # of Units: 2
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,556
  • Total Rent: $3,100
  • Pro Forma/Market Rent: $3,111
Unit Breakdown 3
  • # of Units: 2
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $655
  • Total Rent: $1,310
  • Pro Forma/Market Rent: $3,170
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 3.68%
  • Gross Rent Multiplier: 13.85
  • Gross Scheduled Income: --
  • Net Operating Income: $93,935
  • Gross Operating Income: $178,580
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 1322 S Catalina St

Interior Features
Room Information
  • Flooring: Wood
Kitchen Information
  • Has Appliances
  • Refrigerator
Interior Features
  • Ceiling Fan(s)
Lot Details / Garage and Parking
Parking/Garage Information
  • No
  • Parking Features: None
Property Information
  • Total # of Units: 18
  • Parcel Number: 5075005008
  • Entry Level: 1
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Location / Neighborhood
Location Information
  • Directions: Located in the heart of Koreatown, between Normandie Ave & Vermont Ave
View more facts & features

Local Los Angeles Agent

Sale History for 1322 S Catalina St

Last sold for $2,360,000 on October 2nd, 2020

  • November, 2020

  • Nov 3, 2020

    Date

    Sold

    CRMLS: 20595238

    $2,360,000

    Price

  • Oct 22, 2020

    Date

    Pending

    CRMLS: 20595238

    $2,550,000

    Price

  • Jun 24, 2020

    Date

    Active

    CRMLS: 20595238

    $2,550,000

    Price

  • October, 2020

  • Oct 2, 2020

    Date

    Sold (Public Records)

    Public Records

    $2,360,000

    Price

  • February, 2020

  • Feb 20, 2020

    Date

    Sold

    CRMLS: 19530302

    $2,300,000

    Price

  • Nov 19, 2019

    Date

    Active Under Contract

    CRMLS: 19530302

    $2,350,000

    Price

  • Nov 15, 2019

    Date

    Active

    CRMLS: 19530302

    $2,350,000

    Price

  • Listing provided courtesy of CRMLS

    The Subject property is an 18-unit, true value-add investment opportunity located in Koreatown; the property is located just south of Pico Boulevard, between Normandie Avenue & Vermont Avenue. The property property presents an impressive unit mix throughout consisting of 14 singles and four one-bedrooms; the majority of the units are currently at below market rent offering an investor a the chance to increase cash flow dramatically to a 7.91% pro forma CAP rate when stabilized. 1322 South Catalina Street is being offered at a low price per unit of $130,556; significant loss-to-lease of over 44%.High walk score of 92 and is within walking distance to the Metro Purple Line, multiple bus stops and Loyola High School; nearby amenities give tenants many options for nightlife, employment and education. Koreatown is one of the most densely populated submarkets in all of Los Angeles with rising rents year-over-year.

  • January, 2020

  • Jan 17, 2020

    Date

    Sold (Public Records)

    Public Records

    $2,300,000

    Price

Show More

Tax History for 1322 S Catalina St

Assessed Value (2020): $1,964,834
Year Land Value Improved Value Assessed Value
2020 $1,273,449 $691,385 $1,964,834

Home Value Compared to the Market

This property vs the competition

1322 S Catalina St sold on October 2, 2020 for 114.29% higher than the current median sold price for the city of Los Angeles which is $1,190,000. The median sold price per/sqft for Los Angeles is $755 and this home is sold at $253.33 per/sqft which puts the price per square foot 66.45% lower than the current median sale per square foot for the city of Los Angeles.

About 1322 S Catalina St

Detailed summary of property

1322 S Catalina St is a multi family that recently sold in Los Angeles, CA 90006. This multi family property offered 4 bedrooms, 4 bathrooms, roughly 10,066 living square feet, and sits on an approximately 6,805 square foot lot. 1322 S Catalina St was first listed on ArdentRealEstateGroup.com on January 13, 2021. The homeowner sold the property for $2,360,000. Home in Los Angeles are selling for a median price of $1,190,000 and a median price per square foot of $755. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 114.29% higher than the current median priced home. Local homes that are currently for sale include 837 S Berendo St, 2951 Francis Ave and 2743 James M Wood Blvd. While the average home in Los Angeles, CA is selling in 92 days, 1322 S Catalina St has a days on market of 31 days. There are currently 3712 homes for sale in the Los Angeles real estate market and 2493 of them are single family homes while 1120 of them are condos and 93 are townhomes. For more information on this home for sale at 1322 S Catalina St Los Angeles, CA 90006 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1322 S Catalina St

Public county record property details
Beds
2
Baths
18
Year built
1927
Sq. Ft.
10,066
Lot Size
6,805
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
53
APN
5075-005-008

The source for these homes facts are from public records.

90006 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$799,000
Median List Price/Sq.Ft.
$602
Median Sold Price
$690,000
Median Sold Price/Sq.Ft.
$600
Total Inventory
38
Median Sale to List Price %
98.71%
Avg Days on Market
36
Loan Type
Conventional (0%), FHA (0%), VA (0%), Cash (33.33%), Other (0%)

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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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