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1951 W Martin Luther King Jr Blvd, Los Angeles, CA 90062
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1951 W Martin Luther King Jr Blvd Los Angeles, CA 90062

$2,595,000
  • 8 Beds
  • 8 Baths
  • 4,762 Sq.Ft.
For Sale
$2,595,000 Get Pre-Qualified
Map preview of 1951 W Martin Luther King Jr Blvd, Los Angeles, CA 90062

Property Overview: 1951 W Martin Luther King Jr Blvd Los Angeles, CA has 8 bedrooms, 8 bathrooms, 4,762 living square feet and 8,912 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: 1951 W. Martin Luther King Jr Boulevard is an 8-unit apartment complex in the Leimert Park neighborhood of Los Angeles. The property offers a diverse unit mix of four (4) studio units and four (4) two-bedroom units spread across 4,762 rentable square feet. Seven of the eight units have been completely remodeled with brand new electrical, plumbing and mechanical systems. The units are also sub-metered for gas, electric, and water which results in an extremely low utility expense profile for a new owner. The asset offers strong cash flow day-1 and approximately 14% rental upside.

Listed by Andres Diaz | BRE #01956479 | Keller Williams Downtown LA
Co-listed by Julian Bloch | BRE #02043055 | Keller Williams Downtown LA
Last checked: 4 minutes ago | Last updated: August 9th, 2024 | Source CRMLS | DOM: 42
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Home details

Lot Sq. Ft
8,912
HOA Dues
$0/mo
Year built
1923
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24423085
City
Los Angeles
County
Los Angeles
Time on Site
44 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 8
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 4
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,995
  • Total Rent: $7,980
  • Pro Forma/Market Rent: $7,980
Unit Breakdown 2
  • # of Units: 4
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,381
  • Total Rent: $9,523
  • Pro Forma/Market Rent: $11,980
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5.86%
  • Gross Rent Multiplier: 12.74
  • Gross Scheduled Income: --
  • Net Operating Income: $152,081
  • Gross Operating Income: $210,036
Annual Expense Breakdown
  • Total Operating Expense: --

Open Houses for 1951 W Martin Luther King Jr Blvd

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Property Details for 1951 W Martin Luther King Jr Blvd

Interior Features
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • Dryer Included
Kitchen Information
  • Has Appliances
  • Dishwasher, Microwave
Interior Features
  • Levels: Multi/Split
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 10
  • Has Parking
  • Parking Features: Assigned
Lot Information
  • Lot Size Source: Builder
Property Information
  • Total # of Units: 8
  • Parcel Number: 5035006011
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: on the corner of W. Martin Luther King Jr Blvd. & S. Wilton Place.
View more facts & features

Local Los Angeles Agent

Sale History for 1951 W Martin Luther King Jr Blvd

Last sold for $1,100,000 on June 29th, 2018

  • August, 2024

  • Aug 2, 2024

    Date

    Canceled

    CRMLS: 23292833

    $2,595,000

    Price

  • Jul 20, 2023

    Date

    Active

    CRMLS: 23292833

    $2,895,000

    Price

  • Listing provided courtesy of CRMLS

  • August, 2024

  • Aug 1, 2024

    Date

    Active

    CRMLS: 24423085

    $2,595,000

    Price

  • June, 2018

  • Jun 30, 2018

    Date

    Sold

    CRMLS: 18325284

    $1,100,000

    Price

  • May 30, 2018

    Date

    Pending

    CRMLS: 18325284

    $1,225,000

    Price

  • May 8, 2018

    Date

    Price Change

    CRMLS: 18325284

    $1,225,000

    Price

  • Apr 11, 2018

    Date

    Price Change

    CRMLS: 18325284

    $1,295,000

    Price

  • Mar 21, 2018

    Date

    Active

    CRMLS: 18325284

    $1,480,000

    Price

  • Listing provided courtesy of CRMLS

    HUGE PRICE REDUCTION!! 8 units near Leimert Park. Good unit mix of 4 large singles, 3-1bd+1ba and 1-2bd+1ba. Below market rents. Huge upside potential. On-site parking. Individually metered for gas and electric. Some of the units have individual water heaters. Close to the Baldwin Hills/Crenshaw Plaza and the new Kaiser Permanente facility. Minutes to USC, Los Angeles Coliseum, public transportation, downtown Los Angeles, shops and restaurants. Nearby Baldwin Hills is booming with development making this and excellent opportunity to benefit from surrounding growth. Please see Documents for more information.

  • June, 2018

  • Jun 29, 2018

    Date

    Sold (Public Records)

    Public Records

    $1,100,000

    Price

  • June, 2013

  • Jun 14, 2013

    Date

    Sold (Public Records)

    Public Records

    $625,000

    Price

Show More

Tax History for 1951 W Martin Luther King Jr Blvd

Assessed Value (2020): $1,144,680
Year Land Value Improved Value Assessed Value
2020 $832,320 $312,360 $1,144,680

Home Value Compared to the Market

This property vs the competition

1951 W Martin Luther King Jr Blvd is listed 116.25% higher than the median list price for the city of Los Angeles which has a median list price of $1,200,000. The median price per/sqft for Los Angeles is $766 and this home is listed at $544.94 per/sqft which puts the price per square foot 28.86% lower than the median price per square foot for the city of Los Angeles.

About 1951 W Martin Luther King Jr Blvd

Detailed summary of property

1951 W Martin Luther King Jr Blvd is a multi family located in Los Angeles, CA 90062 and is currently for sale. This multi family property offers 8 bedrooms, 8 bathrooms, roughly 4,762 living square feet, and sits on an approximately 8,912 square foot lot. 1951 W Martin Luther King Jr Blvd was first listed on ArdentRealEstateGroup.com on August 2, 2024. The homeowner is currently asking $2,595,000. The median priced home in Los Angeles is $1,200,000 with a median price per square foot of $766. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 116.25% higher than the median priced home. Local competing homes currently for sale include 1251 S Wilton Pl, 1731 S New Hampshire Ave and 1226 S Manhattan Pl. While the average home in Los Angeles, CA is selling in 104 days, 1951 W Martin Luther King Jr Blvd has a days on market of 42 days. There are currently 4084 homes for sale in the Los Angeles real estate market and 2797 of them are single family homes while 1162 of them are condos and 119 are townhomes. For more information on this home for sale at 1951 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 1951 W Martin Luther King Jr Blvd

Public county record property details
Beds
8
Baths
8
Year built
1923
Sq. Ft.
4,762
Lot Size
8,911
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
160
APN
5035-006-011

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.
$543
Median Sold Price
$645,000
Median Sold Price/Sq.Ft.
$477
Total Inventory
43
Median Sale to List Price %
104.88%
Avg Days on Market
19
Loan Type
Conventional (12.5%), FHA (25%), VA (0%), Cash (37.5%), Other (12.5%)

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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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