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2402 Malabar St Los Angeles, CA 90033

$1,250,000 Sold Price as of 02/28/2024

12 Beds
8 Baths
6,944 Sq.Ft.

Sold

$1,250,000 Sold Price as of 02/28/2024 Refinance Your Mortgage

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Map preview of 2402 Malabar St, Los Angeles, CA 90033

Property Overview: 2402 Malabar St Los Angeles, CA has 12 bedrooms, 8 bathrooms, 6,944 living square feet and 6,984 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: PRICE REDUCED!!! FIRST TIME ON THE MARKET IN ALMOST 80 YEARS! We are proud to present 2402 Malabar Street—a true value-add investment opportunity in Boyle Heights with huge rental upside of over 80%! The building consists of four 2 bedroom / 1 bath units and four 1 bedroom / 1 bath units, and will be delivered with one 2 bedroom unit vacant. As a pride of ownership property, the well-maintained building on the corner of Soto St and Malabar St features upgraded electric main and sub panels. The detached garage spaces on the spacious ± 6,984 SF lot currently accommodate parking for 6 cars with the possibility to convert to ADUs for additional rental income. The units are separately metered for gas and electric and feature washer/dryer hookups in each unit. The unbeatable location is in close proximity to Downtown LA, the Arts District, and Lincoln Heights, and less than one mile from the USC Health Sciences Campus and USC Keck Hospital. The property is strategically situated in a strong rental submarket with the potential for further rental growth and property appreciation upon repositioning of the units.

Listed by Anie Mayelian | BRE #00778825 | Equity Union
Co-listed by Aleen Mayelian | BRE #02198281 | Equity Union

Last checked: 13 minutes ago | Last updated: February 29th, 2024 | Source CRMLS | DOM: 59

Home details

Lot Sq. Ft: 6,984
HOA Dues: $0/mo
Year built: 1941
Garage: 6 Car
Property Type:: Apartment

Status: Sold
MLS#: SR23224165
City: Los Angeles
County: Los Angeles
Time on Site: 282 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 8
Total # of Buildings: 1
# of Electric Meters: 9
# of Gas Meters: 9
# of Water Meters: 1

Unit Breakdown 1

# of Units: 1
# of Beds: 1
# of Baths: 1
Garage Spaces: 1
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $836
Total Rent: $836
Pro Forma/Market Rent: $1,895

Unit Breakdown 2

# of Units: 1
# of Beds: 1
# of Baths: 1
Garage Spaces: 1
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $823
Total Rent: $823
Pro Forma/Market Rent: $1,895

Unit Breakdown 3

# of Units: 1
# of Beds: 1
# of Baths: 1
Garage Spaces: 1
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,196
Total Rent: $1,196
Pro Forma/Market Rent: $1,895

Unit Breakdown 4

# of Units: 1
# of Beds: 1
# of Baths: 1
Garage Spaces: 1
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,300
Total Rent: $1,300
Pro Forma/Market Rent: $1,895

Unit Breakdown 5

# of Units: 1
# of Beds: 2
# of Baths: 1
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Total Rent: $0
Pro Forma/Market Rent: $2,295

Unit Breakdown 6

# of Units: 1
# of Beds: 2
# of Baths: 1
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $963
Total Rent: $963
Pro Forma/Market Rent: $2,295

Unit Breakdown 7

# of Units: 1
# of Beds: 2
# of Baths: 1
Garage Spaces: 1
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $977
Total Rent: $977
Pro Forma/Market Rent: $2,295

Unit Breakdown 8

# of Units: 1
# of Beds: 2
# of Baths: 1
Garage Spaces: 1
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,007
Total Rent: $1,007
Pro Forma/Market Rent: $2,295

Multi-Family Income/Expense Information

Property Income and Analysis

Cap Rate: 5.6%
Gross Rent Multiplier: 12.15
Gross Scheduled Income: $117,264
Net Operating Income: $79,167
Gross Operating Income: $113,746
Vacancy Allowance: $3,518

Annual Expense Breakdown

Total Operating Expense: $34,579
Electric: $7,967
Gas/Fuel: $0
New Taxes: $17,812
Trash: $0
Gardener: $960
Insurance: $4,000
Maintenance: $3,840
Professional Management: $0
Water/Sewer: $0

Property Details for 2402 Malabar St

Interior Features

Laundry Information

Has Laundry
Gas Dryer Hookup, Washer Hookup

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: Lot 6500-9999, Paved
Lot Size Source: Assessor
Common Interest: Community Apartment

Property Information

Common Walls: No Common Walls
Total # of Units: 8
Parcel Number: 5177022011
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: N Soto St & E Cesar E Chavez Ave

Neighborhood Information

Community Features: Curbs, Sidewalks, Storm Drains, Street Lights

View more facts & features

Local Los Angeles Agent

Sale History for 2402 Malabar St

Last sold for $1,250,000 on February 28th, 2024

February, 2024
Feb 28, 2024

Date

Sold

CRMLS: SR23224165

$1,250,000

Price
Dec 11, 2023

Date

Active

CRMLS: SR23224165

$1,499,000

Price
September, 2015
Sep 9, 2015

Date

Sold (Public Records)

Public Records

--

Price
September, 2015
Sep 9, 2015

Date

Sold (Public Records)

Public Records

--

Price

Tax History for 2402 Malabar St

Assessed Value (2020): $127,499

Year	Land Value	Improved Value	Assessed Value
2020	$33,594	$93,905	$127,499

Home Value Compared to the Market

This property vs the competition

2402 Malabar St sold on February 28, 2024 for 27.23% higher 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 $205.21 per/sqft which puts the price per square foot 71.66% lower than the current median sale per square foot for the city of Los Angeles.

About 2402 Malabar St

Detailed summary of property

2402 Malabar St is a apartment that recently sold in Los Angeles, CA 90033. This apartment offered 12 bedrooms, 8 bathrooms, roughly 6,944 living square feet, and sits on an approximately 6,984 square foot lot. 2402 Malabar St was first listed on ArdentRealEstateGroup.com on December 11, 2023. The homeowner sold the property for $1,250,000. 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 27.23% higher than the current median priced home. Local homes that are currently for sale include 505 S Chicago St, 2828 E Lanfranco St and 1515 Michigan Ave. While the average home in Los Angeles, CA is selling in 106 days, 2402 Malabar St has a days on market of 59 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 2402 Malabar St Los Angeles, CA 90033 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 2402 Malabar St

Public county record property details

Beds: 8
Baths: 8
Year built: 1941
Sq. Ft.: 6,944
Lot Size: 6,983
Stories: --

Type: Apartment House (5+ Units)
Pool: No
Spa: No
County: Los Angeles
Lot#: 10
APN: 5177-022-011

The source for these homes facts are from public records.

90033 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$749,000

Median List Price/Sq.Ft.

$444

Median Sold Price

$660,000

Median Sold Price/Sq.Ft.

$700

Total Inventory

Median Sale to List Price %

96.35%

Avg Days on Market

Loan Type

Conventional (40%), FHA (0%), VA (0%), Cash (20%), Other (40%)

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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.