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1507 W 108Th St, Los Angeles, CA 90047
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1507 W 108Th St Los Angeles, CA 90047

$1,245,000 Sold Price as of 10/18/2023
  • 12 Beds
  • 7 Baths
  • 4,863 Sq.Ft.
Sold
$1,245,000 Sold Price as of 10/18/2023 Refinance Your Mortgage
Map preview of 1507 W 108Th St, Los Angeles, CA 90047

Property Overview: 1507 W 108Th St Los Angeles, CA has 12 bedrooms, 7 bathrooms, 4,863 living square feet and 16,699 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 1507 W 108th St is a value add 6 Unit property in an Unincorporated South Los Angeles. Priced at only $183,333/Unit and $226/Sq. Ft, This massive 4,863 Sq. Ft. Building gives an investor the opportunity for over 90% in rental upside. 1507 W 108th includes recent upgrades, such as a new roof and copper plumbing With the ability to add (2) ADUs (Buyer to verify), this investment opportunity is perfect for any investor looking at operating an 8 Unit building on a 16,669 Sq. Ft Lot. Highlighted by a 6-Bed/2-Bath unit that will be delivered tenant ready, this investment brings endless opportunity to immediately renovate and increase the current income. This property will operate above an 11% cap rate before even adding ADUs Minutes from new construction in quickly growing submarket of LA County and just minutes from Inglewood's new developments as well as new developments in Hawthorne.

Listed by Aaron Jacobson | BRE #02100737 | Lyon Stahl Investment Real Estate, Inc.
Co-listed by Cameron Samimi | BRE #02035763 | Lyon Stahl Investment Real Estate, Inc.
Last checked: 2 minutes ago | Last updated: October 18th, 2023 | Source CRMLS | DOM: 27

Home details

Lot Sq. Ft
16,699
HOA Dues
$0/mo
Year built
1954
Garage
6 Car
Property Type:
Apartment
Status
Sold
MLS#
SB23109426
City
Los Angeles
County
Los Angeles
Time on Site
457 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 6
  • Total # of Buildings: 1
  • # of Electric Meters: 7
  • # of Gas Meters: 7
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 6
  • # of Baths: 2
  • Total Rent: $4,500
  • Pro Forma/Market Rent: $4,500
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Actual Rent: $590
  • Total Rent: $590
  • Pro Forma/Market Rent: $2,250
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Actual Rent: $545
  • Total Rent: $545
  • Pro Forma/Market Rent: $1,800
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Actual Rent: $545
  • Total Rent: $545
  • Pro Forma/Market Rent: $1,800
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Actual Rent: $585
  • Total Rent: $585
  • Pro Forma/Market Rent: $1,800
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Actual Rent: $495
  • Total Rent: $495
  • Pro Forma/Market Rent: $1,800
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.78%
  • Gross Rent Multiplier: 12.63
  • Gross Scheduled Income: $87,120
  • Net Operating Income: $52,579
  • Gross Operating Income: $84,506
Annual Expense Breakdown
  • Total Operating Expense: $31,927
  • Electric: $0
  • Gas/Fuel: $0
  • Trash: $0
  • Insurance: $0
  • Professional Management: $0
  • Water/Sewer: $0

Property Details for 1507 W 108Th St

Interior Features
Laundry Information
  • Has Laundry
  • In Closet
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 6
  • # of Parking Spaces: 6
Lot Information
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 6
  • Parcel Number: 6077029017
  • 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: South of Century East of Western
Neighborhood Information
  • Community Features: Biking, Dog Park, Park
View more facts & features

Local Los Angeles Agent

Sale History for 1507 W 108Th St

Last sold for $1,245,000 on October 18th, 2023

  • October, 2023

  • Oct 18, 2023

    Date

    Sold

    CRMLS: SB23109426

    $1,245,000

    Price

  • Jun 21, 2023

    Date

    Active

    CRMLS: SB23109426

    $1,100,000

    Price

  • June, 2013

  • Jun 4, 2013

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 1507 W 108Th St

Assessed Value (2020): $285,710
Year Land Value Improved Value Assessed Value
2020 $156,747 $128,963 $285,710

Home Value Compared to the Market

This property vs the competition

1507 W 108Th St sold on October 18, 2023 for 1.79% lower 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 $226.2 per/sqft which puts the price per square foot 68.76% lower than the current median sale per square foot for the city of Los Angeles.

About 1507 W 108Th St

Detailed summary of property

1507 W 108Th St is a apartment that recently sold in Los Angeles, CA 90047. This apartment offered 12 bedrooms, 7 bathrooms, roughly 4,863 living square feet, and sits on an approximately 16,699 square foot lot. 1507 W 108Th St was first listed on ArdentRealEstateGroup.com on June 20, 2023. The homeowner sold the property for $1,245,000. 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 1.79% lower than the current median priced home. Local homes that are currently for sale include 430 W 80th St, 725 W 77th St and 7612 S S Hoover St St. While the average home in Los Angeles, CA is selling in 106 days, 1507 W 108Th St has a days on market of 27 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 1507 W 108Th St Los Angeles, CA 90047 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1507 W 108Th St

Public county record property details
Beds
12
Baths
7
Year built
1954
Sq. Ft.
4,863
Lot Size
16,698
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
65
APN
6077-029-017

The source for these homes facts are from public records.

90047 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$750,000
Median List Price/Sq.Ft.
$566
Median Sold Price
$795,000
Median Sold Price/Sq.Ft.
$561
Total Inventory
106
Median Sale to List Price %
99.39%
Avg Days on Market
43
Loan Type
Conventional (37.5%), FHA (45.83%), VA (0%), Cash (8.33%), Other (4.17%)

Thinking of Selling?

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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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