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2610 Michigan Ave, Los Angeles, CA 90033
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2610 Michigan Ave Los Angeles, CA 90033

$2,600,000 Sold Price as of 09/23/2020
  • 18 Beds
  • 14 Baths
  • 9,165 Sq.Ft.
Sold
$2,600,000 Sold Price as of 09/23/2020 Refinance Your Mortgage
Map preview of 2610 Michigan Ave, Los Angeles, CA 90033

Property Overview: 2610 Michigan Ave Los Angeles, CA has 18 bedrooms, 14 bathrooms, 9,165 living square feet and 10,923 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Well Maintained 13 Units Investment Property In The Heart Of Boyle Heights Near Downtown LA, 2 Parcels of 6U (2610) & 7U (2614), 1=2+1.5, 4=2+1, 8=1+1, Earthquake Retrofit Construction Completed in 2018, 8 Car Attached Garage with Remote Control plus 2 Carport Space, Highly Desirable Rental Area, Easy Access to Major Freeway.

Listed by Brian Kim | BRE #00850540 | RE/MAX Diamond
Last checked: 9 minutes ago | Last updated: March 23rd, 2022 | Source CRMLS | DOM: 41

Home details

Lot Sq. Ft
10,923
HOA Dues
$0/mo
Year built
1961
Garage
8 Car
Property Type:
Multi Family
Status
Sold
MLS#
PW20133431
City
Los Angeles
County
Los Angeles
Time on Site
1225 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 13
  • Total # of Buildings: 2
  • # of Leased Units: 13
  • # of Electric Meters: 14
  • # of Gas Meters: 14
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $727
  • Total Rent: $727
  • Pro Forma/Market Rent: $1,700
Unit Breakdown 2
  • # of Units: 4
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 3
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $5,226
  • Total Rent: $5,226
  • Pro Forma/Market Rent: $6,400
Unit Breakdown 3
  • # of Units: 8
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 4
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $9,045
  • Total Rent: $9,045
  • Pro Forma/Market Rent: $8,800
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.8%
  • Gross Rent Multiplier: 14.3
  • Gross Scheduled Income: $188,678
  • Net Operating Income: $129,328
  • Gross Operating Income: --
  • # of Rented Garages: 7
  • Garage Rental Income: $6,300
  • Laundry Income: $2,400
  • Laundry Own/Lease: Lease
Annual Expense Breakdown
  • Total Operating Expense: $59,350
  • Electric: $1,200
  • Gas/Fuel: $1,000
  • New Taxes: $30,000
  • Trash: $2,950
  • Gardener: $600
  • Insurance: $5,000
  • Maintenance: $2,000
  • Professional Management: $7,700
  • Water/Sewer: $7,400
  • Other Expenses: $1,000
  • Other Expense Description: Misc

Property Details for 2610 Michigan Ave

Interior Features
Cooling Information
  • Has Cooling
  • Wall/Window Unit(s)
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • Common Area
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 8
  • # of Parking Spaces: 10
  • Has Parking
  • Parking Features: Carport, Garage Faces Rear
Lot Information
  • Lot Features: Lot 10000-19999 Sqft
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 13
  • Parcel Number: 5180010034
  • 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: E of Soto and N of 1st
Neighborhood Information
  • Community Features: Street Lights
View more facts & features

Local Los Angeles Agent

Sale History for 2610 Michigan Ave

Last sold for $2,600,000 on September 23rd, 2020

  • September, 2020

  • Sep 24, 2020

    Date

    Sold

    CRMLS: PW20133431

    $2,600,000

    Price

  • Sep 17, 2020

    Date

    Pending

    CRMLS: PW20133431

    $2,700,000

    Price

  • Aug 20, 2020

    Date

    Active Under Contract

    CRMLS: PW20133431

    $2,700,000

    Price

  • Jul 9, 2020

    Date

    Active

    CRMLS: PW20133431

    $2,700,000

    Price

  • September, 2020

  • Sep 22, 2020

    Date

    Sold (Public Records)

    Public Records

    $2,600,000

    Price

  • March, 2015

  • Mar 24, 2015

    Date

    Sold (Public Records)

    Public Records

    $1,500,000

    Price

  • October, 2014

  • Oct 25, 2014

    Date

    Price Change

    CRMLS: 314031716

    $1,600,000

    Price

  • Listing provided courtesy of CRMLS

    There are 2 buildings total of 13 unist. 2010 Michigan, has 2 units 2 Br. 1 bth & 4 units 1 Br. 1 Bth. 2014 Michigan has 3 units 2Br. 1Bth & 4 units 1 Br. 1 bath. The 2 building are selling toguether. Fully rented, with a very good oportunity to improub the proyected imcom for 2015. Very, very low vacancy %. Each building is in a diferent parcel and lot. This is a 1031 exchange with no cost to the buyes.

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Tax History for 2610 Michigan Ave

Assessed Value (2020): $791,234
Year Land Value Improved Value Assessed Value
2020 $439,575 $351,659 $791,234

Home Value Compared to the Market

This property vs the competition

2610 Michigan Ave sold on September 23, 2020 for 126.89% 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 $294.6 per/sqft which puts the price per square foot 60.98% lower than the current median sale per square foot for the city of Los Angeles.

About 2610 Michigan Ave

Detailed summary of property

2610 Michigan Ave is a multi family that recently sold in Los Angeles, CA 90033. This multi family property offered 18 bedrooms, 14 bathrooms, roughly 9,165 living square feet, and sits on an approximately 10,923 square foot lot. 2610 Michigan Ave was first listed on ArdentRealEstateGroup.com on January 13, 2021. The homeowner sold the property for $2,600,000. 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 126.89% higher than the current median priced home. Local homes that are currently for sale include 5335 Huntington Dr, 259 N Burlington Ave and 907 Glendale Blvd. While the average home in Los Angeles, CA is selling in 93 days, 2610 Michigan Ave has a days on market of 41 days. There are currently 3718 homes for sale in the Los Angeles real estate market and 2495 of them are single family homes while 1123 of them are condos and 94 are townhomes. For more information on this home for sale at 2610 Michigan Ave 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 2610 Michigan Ave

Public county record property details
Beds
8
Baths
6
Year built
1961
Sq. Ft.
4,094
Lot Size
5,462
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
4-5,14
APN
5180-010-034

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
$800,000
Median List Price/Sq.Ft.
$520
Median Sold Price
--
Median Sold Price/Sq.Ft.
--
Total Inventory
11
Median Sale to List Price %
--
Avg Days on Market
--
Loan Type
Conventional (0%), FHA (0%), 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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