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1861 W Martin Luther King Jr Blvd, Los Angeles, CA 90062
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1861 W Martin Luther King Jr Blvd Los Angeles, CA 90062

$1,990,000 Sold Price as of 04/23/2024
  • 13 Beds
  • 12 Baths
  • 7,404 Sq.Ft.
Sold
$1,990,000 Sold Price as of 04/23/2024 Refinance Your Mortgage
Map preview of 1861 W Martin Luther King Jr Blvd, Los Angeles, CA 90062

Property Overview: 1861 W Martin Luther King Jr Blvd Los Angeles, CA has 13 bedrooms, 12 bathrooms, 7,404 living square feet and 10,007 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 1861 W MLK is located in the heart of the highly sought after and thinly traded Leimert Park market. Offered at only $192,250 per door, and 2 units will be delivered vacant for the next owner to remodel to their standards & hand-pick their own tenants. 12.29 GRM on current rents with approximately 40% rental upside. This 1950's building has plenty of on-site & gated reserved parking for tenants, along with an on-site laundry room for tenants to use + bring in additional monthly income. Great mix of (11) 1+1's and (1) 2+1, and no Studios/Singles/Bachelors. Separately metered for gas & electricity. **This property is part of a 3-building portfolio with 211 E 55th Street (9 Units) and 709 E 49th Street (2 Units). All 3 can be bought together or separate.**

Listed by Jonathan Rawson | BRE #02010400 | Avenue Realty Group
Last checked: 5 minutes ago | Last updated: April 23rd, 2024 | Source CRMLS | DOM: 22

Home details

Lot Sq. Ft
10,007
HOA Dues
$0/mo
Year built
1954
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
23305587
City
Los Angeles
County
Los Angeles
Time on Site
264 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 12
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 11
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,264
  • Total Rent: $13,902
  • Pro Forma/Market Rent: $19,250
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,440
  • Total Rent: $1,440
  • Pro Forma/Market Rent: $2,250
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.91%
  • Gross Rent Multiplier: 12.29
  • Gross Scheduled Income: --
  • Net Operating Income: $112,608
  • Gross Operating Income: $181,142
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 1861 W Martin Luther King Jr Blvd

Interior Features
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • Dryer Included
Kitchen Information
  • Has Appliances
Interior Features
  • Levels: Two
  • Security Features: Gated Community
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 8
  • Has Parking
  • Parking Features: Assigned
Property Information
  • Total # of Units: 12
  • Parcel Number: 5035007012
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: East of Arlington, West of Western, South of Obama/Exposition
View more facts & features

Local Los Angeles Agent

Sale History for 1861 W Martin Luther King Jr Blvd

Last sold for $1,990,000 on April 23rd, 2024

  • April, 2024

  • Apr 23, 2024

    Date

    Sold

    CRMLS: 23305587

    $1,990,000

    Price

  • Aug 29, 2023

    Date

    Active

    CRMLS: 23305587

    $2,295,000

    Price

  • October, 2012

  • Oct 31, 2012

    Date

    Sold (Public Records)

    Public Records

    $1,026,010

    Price

  • September, 2012

  • Sep 11, 2012

    Date

    Sold (Public Records)

    Public Records

    $1,000,000

    Price

Show More

Tax History for 1861 W Martin Luther King Jr Blvd

Assessed Value (2020): $1,155,514
Year Land Value Improved Value Assessed Value
2020 $788,186 $367,328 $1,155,514

Home Value Compared to the Market

This property vs the competition

1861 W Martin Luther King Jr Blvd sold on April 23, 2024 for 92.86% 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 $309.97 per/sqft which puts the price per square foot 58.94% lower than the current median sale per square foot for the city of Los Angeles.

About 1861 W Martin Luther King Jr Blvd

Detailed summary of property

1861 W Martin Luther King Jr Blvd is a multi family that recently sold in Los Angeles, CA 90062. This multi family property offered 13 bedrooms, 12 bathrooms, roughly 7,404 living square feet, and sits on an approximately 10,007 square foot lot. 1861 W Martin Luther King Jr Blvd was first listed on ArdentRealEstateGroup.com on August 29, 2023. The homeowner sold the property for $1,990,000. 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 92.86% higher than the current median priced home. Local homes that are currently for sale include 1535 W 28th St, 2404 5th Ave and 4418 S Hoover St. While the average home in Los Angeles, CA is selling in 92 days, 1861 W Martin Luther King Jr Blvd has a days on market of 22 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 1861 W Martin Luther King Jr Blvd Los Angeles, CA 90062 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1861 W Martin Luther King Jr Blvd

Public county record property details
Beds
13
Baths
12
Year built
1954
Sq. Ft.
7,404
Lot Size
10,007
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
75
APN
5035-007-012

The source for these homes facts are from public records.

90062 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$869,000
Median List Price/Sq.Ft.
$573
Median Sold Price
$760,000
Median Sold Price/Sq.Ft.
$553
Total Inventory
30
Median Sale to List Price %
85.49%
Avg Days on Market
49
Loan Type
Conventional (80%), FHA (20%), VA (0%), Cash (0%), 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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