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1818 Arapahoe St, Los Angeles, CA 90006
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1818 Arapahoe St Los Angeles, CA 90006

$865,000 Sold Price as of 12/31/2020
  • 1 Beds
  • 7 Baths
  • 2,730 Sq.Ft.
Sold
$865,000 Sold Price as of 12/31/2020 Refinance Your Mortgage
Map preview of 1818 Arapahoe St, Los Angeles, CA 90006

Property Overview: 1818 Arapahoe St Los Angeles, CA has 1 bedrooms, 7 bathrooms, 2,730 living square feet and 7,520 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: A true VALUE ADD opportunity 7-unit apartment complex with one of the largest lots in the neighborhood for the LOWEST price for sale. 120,000 per UNIT!! The new Buyer has the chance to stabilize the building capturing significant increase in rents as units turn and potentially a uniqe opportunity to add living square footage onto the building. Rents below market, separately metered for gas, no soft story retrofit work required, and remodeled units are renting for $3+/SF. There are 7 tandem parking spaces and 2 separate sheds used for storage. 1818 Arapahoe St provides the new owner a special opportunity to bring this property to its fullest potential with some rehab work and will command great demand given the location pulling in renters from Koreatown to the North, West Adams to the West, USC to the South, and DTLA to the East.

Listed by Alexavier Shin | BRE #02106720 | Keller Williams Downtown LA
Last checked: 4 minutes ago | Last updated: March 18th, 2023 | Source CRMLS | DOM: 21

Home details

Lot Sq. Ft
7,520
HOA Dues
$0/mo
Year built
1949
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
20669134
City
Los Angeles
County
Los Angeles
Time on Site
1213 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 7
  • Total # of Buildings: 2
Unit Breakdown 1
  • # of Units: 6
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $659
  • Total Rent: $7,916
  • Pro Forma/Market Rent: $1,164
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $209
  • Total Rent: $2,904
  • Pro Forma/Market Rent: $1,400
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 17.15
  • Gross Scheduled Income: --
  • Net Operating Income: $30,627
  • Gross Operating Income: $48,924
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 1818 Arapahoe St

Interior Features
Cooling Information
  • No Cooling
  • None
Heating Information
  • No Heating
  • None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 7
  • Has Parking
  • Parking Features: Parking Space
Lot Information
  • Lot Size Source: Assessor
Property Information
  • Total # of Units: 7
  • Parcel Number: 5056011014
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Location / Neighborhood
Location Information
  • Directions: Located just south of Koreatown in the renter-heavy Pico-Union neighborhood, between Venice Blvd and Washington Blvd, just west of Hoover St. Property is located near 10 freeway, short commute to Koreatown, Downtown Los Angeles, West Adams, and USC.
View more facts & features

Local Los Angeles Agent

Sale History for 1818 Arapahoe St

Last sold for $865,000 on December 31st, 2020

  • January, 2021

  • Jan 7, 2021

    Date

    Sold

    CRMLS: 20669134

    $865,000

    Price

  • Dec 26, 2020

    Date

    Active Under Contract

    CRMLS: 20669134

    $865,000

    Price

  • Dec 17, 2020

    Date

    Active

    CRMLS: 20669134

    $865,000

    Price

  • December, 2020

  • Dec 31, 2020

    Date

    Sold (Public Records)

    Public Records

    $865,000

    Price

  • March, 2020

  • Mar 17, 2020

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • January, 2020

  • Jan 1, 2020

    Date

    Expired

    CRMLS: 19490874

    $785,200

    Price

  • Dec 11, 2019

    Date

    Price Change

    CRMLS: 19490874

    $785,200

    Price

  • Nov 22, 2019

    Date

    Price Change

    CRMLS: 19490874

    $859,200

    Price

  • Aug 14, 2019

    Date

    Price Change

    CRMLS: 19490874

    $950,000

    Price

  • Aug 7, 2019

    Date

    Price Change

    CRMLS: 19490874

    $1,045,000

    Price

  • Jul 23, 2019

    Date

    Price Change

    CRMLS: 19490874

    $1,075,000

    Price

  • Jul 19, 2019

    Date

    Active

    CRMLS: 19490874

    $1,100,000

    Price

  • Listing provided courtesy of CRMLS

    LOWEST price per unit in West LA! Priced to sell. The offering consists of 2 buildings, one gorgeous house in the back (approx 800 sq ft), and an apartment building (approx 2,000 sq ft) of 6 singles in the front. Both buildings are situated on an extra generous lot (approx 7,500 sq ft) on Arapahoe north of Washington, just west of LA Live. All units are occupied by long term tenants. Because the total gross rents are very low (approximately $49,000 a year. A buyer would have to put at least $600,000 down. All offers need to be all cash showing $600,000 in liquid funds.

  • August, 2017

  • Aug 11, 2017

    Date

    Sold

    CRMLS: 17244950

    $660,000

    Price

  • Jun 27, 2017

    Date

    Pending

    CRMLS: 17244950

    $660,000

    Price

  • Jun 26, 2017

    Date

    Hold

    CRMLS: 17244950

    $660,000

    Price

  • Jun 23, 2017

    Date

    Active

    CRMLS: 17244950

    $660,000

    Price

  • Listing provided courtesy of CRMLS

    6- single - 0.75 bathrooms (no bath tub) plus a rear one bedroom one bath house. Extremely low rent. Fixer. Extremely unorganized long-term tenants enjoy the property on a spacious lot. Most tenants are seniors or families with children. All tenants stores lots of personal belongings and it is extremely difficult to show. Tenants pay for electric only. Two gas meters and water paid by landlord. Lot size 7,520 sq.ft. R-D 1.5 zoning. Unit 6 is vacant. Rent Control property. Buyer to cooperate with Seller's 1031 Exchange with no additional cost to Buyer.

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Tax History for 1818 Arapahoe St

Assessed Value (2020): $687,784
Year Land Value Improved Value Assessed Value
2020 $520,200 $167,584 $687,784

Home Value Compared to the Market

This property vs the competition

1818 Arapahoe St sold on December 31, 2020 for 27.31% lower 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 $316.85 per/sqft which puts the price per square foot 58.03% lower than the current median sale per square foot for the city of Los Angeles.

About 1818 Arapahoe St

Detailed summary of property

1818 Arapahoe St is a multi family that recently sold in Los Angeles, CA 90006. This multi family property offered 1 bedrooms, 7 bathrooms, roughly 2,730 living square feet, and sits on an approximately 7,520 square foot lot. 1818 Arapahoe St was first listed on ArdentRealEstateGroup.com on January 20, 2021. The homeowner sold the property for $865,000. 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 27.31% lower than the current median priced home. Local homes that are currently for sale include 2001 S Congress Ave, 1266 W 35th Pl and 218 E 27th St. While the average home in Los Angeles, CA is selling in 94 days, 1818 Arapahoe St has a days on market of 21 days. There are currently 3654 homes for sale in the Los Angeles real estate market and 2456 of them are single family homes while 1102 of them are condos and 90 are townhomes. For more information on this home for sale at 1818 Arapahoe 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 1818 Arapahoe St

Public county record property details
Beds
--
Baths
--
Year built
1949
Sq. Ft.
2,730
Lot Size
7,520
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
31
APN
5056-011-014

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%)

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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