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187 W 41St Pl Los Angeles, CA 90037

$1,400,000 Sold Price as of 09/03/2021

14 Beds
6 Baths
5,758 Sq.Ft.

Sold

$1,400,000 Sold Price as of 09/03/2021 Refinance Your Mortgage

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Map preview of 187 W 41St Pl, Los Angeles, CA 90037

Property Overview: 187 W 41St Pl Los Angeles, CA has 14 bedrooms, 6 bathrooms, 5,758 living square feet and 6,760 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 187 W. 41st Pl is a highly desirable 6-Unit Multifamily Property located just steps from USC. All tenants are Section 8, offering any investor guaranteed monthly income! Offered at only $251/Sq. Ft, this value-add opportunity has nearly 30% upside in gross monthly income, once units are rented out for market rate. With a going-in cap rate of 5.05%, 187 W. 41st Pl is the perfect opportunity for any investor looking for immediate cash-flow, with strong upside! The subject property boasts a high-yielding unit mix of (4) 3-Bedroom + 1- Bath and (2) large 1-Bed + 1-Bath units. With 5,758 rentable Sq.Ft, these large units feature washer/dryer in unit, in-wall A/C and central heating. There is still plenty of room to grow the income, with a 8.26 Market CAP and 8.88 Market GRM. 187 W. 41 Pl is located just minutes from USC, Downtown LA, Gilbert Lindsay Park, Exposition Park, Lucas Museum, Art's District, The Reef, Banc of California Stadium, and LA LIVE, as well as billions of dollars worth of development pouring into DTLA.

Listed by Cameron Samimi | BRE #02035763 | Lyon Stahl Investment Real Estate, Inc.
Co-listed by Aaron Jacobson | BRE #02100737 | Lyon Stahl Investment Real Estate, Inc.

Last checked: 5 minutes ago | Last updated: July 5th, 2023 | Source CRMLS | DOM: 41

Home details

Lot Sq. Ft: 6,760
HOA Dues: $0/mo
Year built: 1924
Garage: 4 Car
Property Type:: Multi Family

Status: Sold
MLS#: SB21132335
City: Los Angeles
County: Los Angeles
Time on Site: 1067 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 6
Total # of Buildings: 2
# of Electric Meters: 7
# of Gas Meters: 6
# of Water Meters: 1

Unit Breakdown 1

# of Units: 1
# of Beds: 3
# of Baths: 1
Garage Spaces: 1
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $2,300
Total Rent: $2,300
Pro Forma/Market Rent: $2,500

Unit Breakdown 2

# of Units: 1
# of Beds: 3
# of Baths: 1
Garage Spaces: 1
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $2,100
Total Rent: $2,100
Pro Forma/Market Rent: $2,500

Unit Breakdown 3

# of Units: 1
# of Beds: 3
# of Baths: 1
Garage Spaces: 1
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,600
Total Rent: $1,600
Pro Forma/Market Rent: $2,500

Unit Breakdown 4

# of Units: 1
# of Beds: 3
# of Baths: 1
Garage Spaces: 1
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,400
Total Rent: $1,400
Pro Forma/Market Rent: $2,500

Unit Breakdown 5

# of Units: 1
# of Beds: 1
# of Baths: 1
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $900
Total Rent: $900
Pro Forma/Market Rent: $1,600

Unit Breakdown 6

# of Units: 1
# of Beds: 1
# of Baths: 1
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $900
Total Rent: $900
Pro Forma/Market Rent: $1,600

Multi-Family Income/Expense Information

Property Income and Analysis

Cap Rate: 5.05%
Gross Rent Multiplier: 12.59
Gross Scheduled Income: $115,200
Net Operating Income: $73,256
Gross Operating Income: --

Annual Expense Breakdown

Total Operating Expense: $38,488
Electric: $0
Gas/Fuel: $0
Trash: $0
Insurance: $0
Professional Management: $0
Water/Sewer: $0

Property Details for 187 W 41St Pl

Interior Features

Laundry Information

Has Laundry
Inside

Exterior Features

No Pool
Pool Features: None

Lot Details / Garage and Parking

Parking/Garage Information

# of Garage Spaces: 4
# of Parking Spaces: 6

Lot Information

Lot Features: 0-1 Unit/Acre
Lot Size Source: Assessor
Common Interest: None

Property Information

Common Walls: 2+ Common Walls
Total # of Units: 6
Parcel Number: 5111020013
Year Built Source: Assessor
Property is Attached

Homeowners Association, Utilities, Taxes / Assessments

Utilities Information

Sewer: Public Sewer
Water Source: Public

Location / Neighborhood

Location Information

Directions: Off of Broadway and Martin Luther King Jr.

Neighborhood Information

Community Features: Biking, Curbs, Golf

View more facts & features

Local Los Angeles Agent

Sale History for 187 W 41St Pl

Last sold for $1,400,000 on September 3rd, 2021

July, 2023
Jul 5, 2023

Date

Expired

CRMLS: SB23089823

$2,100,000

Price
May 24, 2023

Date

Active

CRMLS: SB23089823

$2,100,000

Price
Listing provided courtesy of CRMLS

Great Cash Flow! 6.51% Cap Rate and 10.78 GRM! 187 W 41st Pl is a massive 7 unit Multifamily property located just steps from USC. This fully renovated asset operates at a 6.51% Cap Rate and 10.78 GRM offering any investor with strong cash flow, and close to 12% in additional rental upside! The subject property boasts an excellent unit mix of (2) 1-Bed/1-Bath, (1) 2-Bed/2-Bath, and (4) 3-Bed/1- Bath units. With 6,558 rentable Sq. Ft, these large units feature washer/dryer in unit, in-wall A/C and central heating. 187 W 41st Pl is located just minutes from USC, Downtown LA, Gilbert Lindsay Park, Exposition Park, Lucas Museum, Art's district, The Reef, Banc of California Stadium, and LA LIVE, as well as billions of dollars worth of development pouring into DTLA.

Continue Reading
February, 2023
Feb 17, 2023

Date

Canceled

CRMLS: SB22229392

$2,000,000

Price
Oct 27, 2022

Date

Active

CRMLS: SB22229392

$2,100,000

Price
Listing provided courtesy of CRMLS

Huge $100,000 Price Reduction! Great Cash Flow! 6.43% Cap Rate and 10.94 GRM! 187 W 41st Pl, A recently remodeled 7-unit Multifamily property located just steps from USC. With a newly built ADU, the subject operates at a 6.43% Cap Rate and 10.94 GRM offering any investor with strong cash flow, and 12% in rental upside! The subject property boasts an excellent unit mix of (2) 1-Bed/1-Bath, (1) 2-Bed/2-Bath, and (4) 3-Bed/1- Bath units. With 6,558 rentable Sq. Ft, these large units feature washer/dryer in unit, in-wall A/C, and central heating. 187 W 41st Pl is located just minutes from USC, Downtown LA, Gilbert Lindsay Park, Exposition Park, Lucas Museum, Art's district, The Reef, Banc of California Stadium, and LA LIVE, as well as billions of dollars worth of development pouring into DTLA.

Continue Reading
September, 2021
Sep 3, 2021

Date

Sold

CRMLS: SB21132335

$1,400,000

Price
Aug 3, 2021

Date

Active Under Contract

CRMLS: SB21132335

$1,450,000

Price
Jun 23, 2021

Date

Active

CRMLS: SB21132335

$1,450,000

Price
Jun 18, 2021

Date

Coming Soon

CRMLS: SB21132335

$1,450,000

Price
November, 2007
Nov 5, 2007

Date

Sold (Public Records)

Public Records

$480,000

Price

Tax History for 187 W 41St Pl

Assessed Value (2020): $756,649

Year	Land Value	Improved Value	Assessed Value
2020	$432,371	$324,278	$756,649

Home Value Compared to the Market

This property vs the competition

187 W 41St Pl sold on September 3, 2021 for 21.85% 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 $251.82 per/sqft which puts the price per square foot 66.65% lower than the current median sale per square foot for the city of Los Angeles.

About 187 W 41St Pl

Detailed summary of property

187 W 41St Pl is a multi family that recently sold in Los Angeles, CA 90037. This multi family property offered 14 bedrooms, 6 bathrooms, roughly 5,758 living square feet, and sits on an approximately 6,760 square foot lot. 187 W 41St Pl was first listed on ArdentRealEstateGroup.com on June 18, 2021. The homeowner sold the property for $1,400,000. 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 21.85% higher than the current median priced home. Local homes that are currently for sale include 840 W 52nd St, 915 E 50th St and 438 E 56th St. While the average home in Los Angeles, CA is selling in 92 days, 187 W 41St Pl has a days on market of 41 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 187 W 41St Pl Los Angeles, CA 90037 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 187 W 41St Pl

Public county record property details

Beds: 14
Baths: 6
Year built: 1924
Sq. Ft.: 5,758
Lot Size: 6,741
Stories: --

Type: Apartment House (5+ Units)
Pool: No
Spa: No
County: Los Angeles
Lot#: 28
APN: 5111-020-013

The source for these homes facts are from public records.

90037 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$725,000

Median List Price/Sq.Ft.

$540

Median Sold Price

$667,000

Median Sold Price/Sq.Ft.

$444

Total Inventory

Median Sale to List Price %

106.72%

Avg Days on Market

Loan Type

Conventional (0%), FHA (50%), 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.