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1433 N Detroit St, Los Angeles, CA 90046
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1433 N Detroit St Los Angeles, CA 90046

$2,050,000 Sold Price as of 04/07/2021
  • 10 Beds
  • 7 Baths
  • 4,941 Sq.Ft.
Sold
$2,050,000 Sold Price as of 04/07/2021 Refinance Your Mortgage
Map preview of 1433 N Detroit St, Los Angeles, CA 90046

Property Overview: 1433 N Detroit St Los Angeles, CA has 10 bedrooms, 7 bathrooms, 4,941 living square feet and 6,750 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 1433 North Detroit Street is a 7-unit apartment building located in Hollywood one block west of N La Brea Ave off Sunset Blvd. A highly walkable location with access to entertainment, shopping, dining, nightlife, and employment opportunities. Built in 1954, this value-add investment presents the investor an opportunity to achieve market rents for four of seven units immediately at the close of escrow as the property will be delivered with four vacancies (one one-bedroom and three two-bedrooms); three of the vacancies have already undergone renovations. The subject property is being offered at a 4.83% current cap rate and a 12.38 GRM on current income; the property will be delivered with minimal deferred maintenance required.There are six parking spaces at the rear of the property with a gated, secure entrance. There is community laundry with a washer and dryer on-site, currently leased by the ownership. This exclusive pocket of Hollywood remains one of the most desirable addresses for both living and working. With the median household income continuing to rise and average home value of over $1 million within three miles, the demand for apartment units increases year-over-year exemplified with surrounding new residential and office developments as well as major employers established in the submarket.

Listed by Neema Ahadian | BRE #01346750 | Marcus & Millichap
Last checked: 8 minutes ago | Last updated: June 5th, 2023 | Source CRMLS | DOM: 29

Home details

Lot Sq. Ft
6,750
HOA Dues
$0/mo
Year built
1954
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
21702814
City
Los Angeles
County
Los Angeles
Time on Site
1167 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 7
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 4
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,525
  • Total Rent: $6,100
  • Pro Forma/Market Rent: $6,800
Unit Breakdown 2
  • # of Units: 3
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,400
  • Total Rent: $7,200
  • Pro Forma/Market Rent: $7,200
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.83%
  • Gross Rent Multiplier: 12.98
  • Gross Scheduled Income: --
  • Net Operating Income: $100,559
  • Gross Operating Income: $152,190
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 1433 N Detroit St

Interior Features
Laundry Information
  • Has Laundry
  • Community
Room Information
  • Flooring: Wood
Kitchen Information
  • Has Appliances
  • Gas Oven
Exterior Features
Exterior Information
  • Roof: Shingle
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 6
  • Has Parking
  • Parking Features: Driveway
Property Information
  • Total # of Units: 7
  • Parcel Number: 5548018005
  • Foundation Details: Slab
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Location / Neighborhood
Location Information
  • Directions: located in Hollywood one block west of N La Brea Ave off Sunset Blvd
View more facts & features

Local Los Angeles Agent

Sale History for 1433 N Detroit St

Last sold for $2,050,000 on April 7th, 2021

  • April, 2021

  • Apr 12, 2021

    Date

    Sold

    CRMLS: 21702814

    $2,050,000

    Price

  • Apr 1, 2021

    Date

    Active Under Contract

    CRMLS: 21702814

    $2,080,000

    Price

  • Mar 9, 2021

    Date

    Active

    CRMLS: 21702814

    $2,080,000

    Price

  • September, 2013

  • Sep 19, 2013

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • September, 1994

  • Sep 16, 1994

    Date

    Sold (Public Records)

    Public Records

    $310,000

    Price

Show More

Tax History for 1433 N Detroit St

Assessed Value (2020): $476,199
Year Land Value Improved Value Assessed Value
2020 $190,437 $285,762 $476,199

Home Value Compared to the Market

This property vs the competition

1433 N Detroit St sold on April 7, 2021 for 74.79% 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 $420.97 per/sqft which puts the price per square foot 44.24% lower than the current median sale per square foot for the city of Los Angeles.

About 1433 N Detroit St

Detailed summary of property

1433 N Detroit St is a multi family that recently sold in Los Angeles, CA 90046. This multi family property offered 10 bedrooms, 7 bathrooms, roughly 4,941 living square feet, and sits on an approximately 6,750 square foot lot. 1433 N Detroit St was first listed on ArdentRealEstateGroup.com on March 9, 2021. The homeowner sold the property for $2,050,000. 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 74.79% higher than the current median priced home. Local homes that are currently for sale include 610 N Spaulding Ave, 445 N Spaulding Ave and 454 N Genesee Ave. While the average home in Los Angeles, CA is selling in 92 days, 1433 N Detroit St has a days on market of 29 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 1433 N Detroit St Los Angeles, CA 90046 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1433 N Detroit St

Public county record property details
Beds
10
Baths
7
Year built
1954
Sq. Ft.
4,941
Lot Size
6,750
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
27
APN
5548-018-005

The source for these homes facts are from public records.

90046 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,965,000
Median List Price/Sq.Ft.
$938
Median Sold Price
$2,000,000
Median Sold Price/Sq.Ft.
$856
Total Inventory
231
Median Sale to List Price %
117.72%
Avg Days on Market
34
Loan Type
Conventional (2.7%), FHA (0%), VA (0%), Cash (13.51%), Other (2.7%)

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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