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3168 Wabash Ave, Los Angeles, CA 90063
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3168 Wabash Ave Los Angeles, CA 90063

$5,300,000
  • 32 Beds
  • 18 Baths
  • 11,600 Sq.Ft.
For Sale
$5,300,000 Get Pre-Qualified
Map preview of 3168 Wabash Ave, Los Angeles, CA 90063

Property Overview: 3168 Wabash Ave Los Angeles, CA has 32 bedrooms, 18 bathrooms, 11,600 living square feet and 14,797 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: I am pleased to offer for sale a 14-unit apartment community located at 3168 Wabash Avenue. The subject property is located just south of the 10 Freeway within the rapidly gentrifying Boyle Heights sub-market. Situated on a 14,797 square foot parcel, the property comprises of 10 two-bedroom units and four three-bedroom units. Ownership has extensively renovated the exterior, building systems and 79% of unit interiors with new stainless-steel appliances, new flooring, new fixtures, new windows, in unit washer/dryer & more.The continued gentrification of the surrounding area along with the comprehensive renovation completed by current ownership makes 3168 Wabash an excellent acquisition opportunity that provides stable cash flow and remaining upside potential.

Listed by Sean Rosenzweig | BRE #01406343 | Marcus & Millichap
Last checked: 5 minutes ago | Last updated: October 12th, 2022 | Source CRMLS | DOM: 525
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Home details

Lot Sq. Ft
14,797
HOA Dues
$0/mo
Year built
1973
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
22205598
City
Los Angeles
County
Los Angeles
Time on Site
571 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 14
  • Total # of Buildings: 2
Unit Breakdown 1
  • # of Units: 10
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,850
  • Total Rent: $18,484
  • Pro Forma/Market Rent: $25,000
Unit Breakdown 2
  • # of Units: 4
  • # of Beds: 3
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $2,655
  • Total Rent: $10,620
  • Pro Forma/Market Rent: $12,400
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.37%
  • Gross Rent Multiplier: 15.18
  • Gross Scheduled Income: --
  • Net Operating Income: $231,732
  • Gross Operating Income: $338,771
Annual Expense Breakdown
  • Total Operating Expense: --

Open Houses for 3168 Wabash Ave

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Property Details for 3168 Wabash Ave

Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 14
  • Has Parking
  • Parking Features: Converted Garage
Lot Information
  • Lot Size Source: Assessor
Property Information
  • Total # of Units: 14
  • Parcel Number: 5178001032
  • Year Built Source: Assessor
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Location / Neighborhood
Location Information
  • Directions: South of the 10 Freeway, North of the 60 Freeway
View more facts & features

Local Los Angeles Agent

Sale History for 3168 Wabash Ave

Last leased for $2,260 on August 13th, 2021

  • October, 2022

  • Oct 4, 2022

    Date

    Active

    CRMLS: 22205598

    $5,300,000

    Price

  • August, 2021

  • Aug 21, 2021

    Date

    Leased

    CRMLS: 21760576

    $2,260

    Price

  • Aug 11, 2021

    Date

    Pending

    CRMLS: 21760576

    $2,205

    Price

  • Jul 14, 2021

    Date

    Active

    CRMLS: 21760576

    $2,205

    Price

  • Listing provided courtesy of CRMLS

    2weeks free rent! Welcome to 3168 Wabash Blvd. The building is completely re-imagined and features: Bright! This TOP FLOOR UNIT features 2BED / 1BATH, stainless steel appliances, new Flooring, new paint, new Fixtures, massive living room windows, new tiled bathrooms, central AC/Heat, Washer/Dryer/Dishwasher in unit. This pet friendly building has parking included and features an amazing BBQ area with views of LA.Price reflects 2weeks free rent over a 12month lease term.

  • June, 2021

  • Jun 2, 2021

    Date

    Leased

    CRMLS: 21692592

    $2,600

    Price

  • May 15, 2021

    Date

    Price Change

    CRMLS: 21692592

    $2,495

    Price

  • Mar 9, 2021

    Date

    Price Change

    CRMLS: 21692592

    $2,550

    Price

  • Feb 12, 2021

    Date

    Active

    CRMLS: 21692592

    $2,650

    Price

  • Listing provided courtesy of CRMLS

    Welcome to 3168 Wabash Blvd. The building is completely re-imagined and features: Bright! TOP FLOOR CORNER UNIT 3BED / 2BATH stainless steel appliances, new Flooring, new paint, new Fixtures, massive living room windows, new tiled bathrooms, central AC/Heat, Washer/Dryer/Dishwasher in unit. This pet friendly building has 2parking included and features an amazing BBQ area with views of LA.

  • May, 2021

  • May 15, 2021

    Date

    Leased

    CRMLS: 21702744

    $2,215

    Price

  • Apr 14, 2021

    Date

    Pending

    CRMLS: 21702744

    $2,150

    Price

  • Mar 16, 2021

    Date

    Active

    CRMLS: 21702744

    $2,150

    Price

  • Listing provided courtesy of CRMLS

    1month free rent! Welcome to 3168 Wabash Blvd. The building is completely re-imagined and features: Bright! This TOP FLOOR CORNER UNIT with DTLA Views features 2BED / 1BATH, stainless steel appliances, new Flooring, new paint, new Fixtures, massive living room windows, new tiled bathrooms, central AC/Heat, Washer/Dryer/Dishwasher in unit. This pet friendly building has 2parking included and features an amazing BBQ area with views of LA.Price reflects 1month free rent over a 12month lease term.

  • March, 2021

  • Mar 10, 2021

    Date

    Leased

    CRMLS: 20671114

    $2,150

    Price

  • Feb 25, 2021

    Date

    Pending

    CRMLS: 20671114

    $2,060

    Price

  • Feb 19, 2021

    Date

    Price Change

    CRMLS: 20671114

    $2,060

    Price

  • Jan 21, 2021

    Date

    Price Change

    CRMLS: 20671114

    $2,175

    Price

  • Dec 23, 2020

    Date

    Price Change

    CRMLS: 20671114

    $2,250

    Price

  • Dec 16, 2020

    Date

    Active

    CRMLS: 20671114

    $2,500

    Price

  • Listing provided courtesy of CRMLS

    2 weeks free rent! Welcome to 3168 Wabash Blvd. The building is completely re-imagined and features: Bright! 2BED / 1BATH stainless steel appliances, new Flooring, new paint, new Fixtures, massive living room windows, new tiled bathrooms, central AC/Heat, Washer/Dryer/Dishwasher in unit. This pet friendly building has 2parking included and features an amazing BBQ area with views of LA.Price reflects 2 free weeks over a 12month lease term.

  • October, 2018

  • Oct 16, 2018

    Date

    Expired

    CRMLS: 18381926

    $3,825,000

    Price

  • Oct 5, 2018

    Date

    Withdrawn

    CRMLS: 18381926

    $3,825,000

    Price

  • Sep 4, 2018

    Date

    Active

    CRMLS: 18381926

    $3,825,000

    Price

  • Listing provided courtesy of CRMLS

    With 79% of the units recently vacated, Casa Wabash is a unique opportunity for a new investor to capitalize on the red-hot Boyle Heights rental market. The large floor plans are ripe for renovation and once turned, these units will command a top market rent. The area's potential is demonstrated in our very thorough rent study showing several examples of renovated product achieving high rent levels. The property has an excellent hillside location along Wabash Avenue with a courtyard that features sweeping views of the Downtown Los Angeles skyline. Additionally, there is gated parking below the units and the property is not subject to the city's soft-story ordinance. Given that 11 of the 14 units are currently vacant, an investor will be able to focus all of their energy on a renovation strategy to generate the highest possible rents. The current vacancy also eliminates any rent control or Costa Hawkins concerns.

  • March, 2018

  • Mar 15, 2018

    Date

    Sold (Public Records)

    Public Records

    $2,800,000

    Price

Show More

Tax History for 3168 Wabash Ave

Assessed Value (2020): $2,917,190
Year Land Value Improved Value Assessed Value
2020 $624,240 $2,292,950 $2,917,190

Home Value Compared to the Market

This property vs the competition

3168 Wabash Ave is listed 324.34% higher than the median list price for the city of Los Angeles which has a median list price of $1,249,000. The median price per/sqft for Los Angeles is $772 and this home is listed at $456.9 per/sqft which puts the price per square foot 40.82% lower than the median price per square foot for the city of Los Angeles.

About 3168 Wabash Ave

Detailed summary of property

3168 Wabash Ave is a multi family located in Los Angeles, CA 90063 and is currently for sale. This multi family property offers 32 bedrooms, 18 bathrooms, roughly 11,600 living square feet, and sits on an approximately 14,797 square foot lot. 3168 Wabash Ave was first listed on ArdentRealEstateGroup.com on October 4, 2022. The homeowner is currently asking $5,300,000. The median priced home in Los Angeles is $1,249,000 with a median price per square foot of $772. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 324.34% higher than the median priced home. Local competing homes currently for sale include 2512 Berkeley Ave, 1984 Park Grove Ave and 1651 Redcliff St. While the average home in Los Angeles, CA is selling in 97 days, 3168 Wabash Ave has a days on market of 525 days. There are currently 3429 homes for sale in the Los Angeles real estate market and 2324 of them are single family homes while 1008 of them are condos and 91 are townhomes. For more information on this home for sale at 3168 Wabash Ave Los Angeles, CA 90063 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 3168 Wabash Ave

Public county record property details
Beds
--
Baths
18
Year built
1973
Sq. Ft.
11,600
Lot Size
14,779
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
2,3
APN
5178-001-032

The source for these homes facts are from public records.

90063 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$650,000
Median List Price/Sq.Ft.
$625
Median Sold Price
$650,000
Median Sold Price/Sq.Ft.
$511
Total Inventory
25
Median Sale to List Price %
100%
Avg Days on Market
6
Loan Type
Conventional (20%), FHA (20%), VA (0%), Cash (20%), 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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