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438 E 56Th St, Los Angeles, CA 90011
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438 E 56Th St Los Angeles, CA 90011

$1,525,000
  • 7 Beds
  • 4 Baths
  • 2,219 Sq.Ft.
For Sale
$1,525,000 Get Pre-Qualified
Map preview of 438 E 56Th St, Los Angeles, CA 90011

Property Overview: 438 E 56Th St Los Angeles, CA has 7 bedrooms, 4 bathrooms, 2,219 living square feet and 5,093 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: Introducing this amazing 4 unit multifamily property in turnkey condition in the South Park neighborhood of Los Angeles. Currently 100% Vacant! Two buildings sit on the lot which are comprised of two duplexes: 'structure one' is completely brand-new construction and 'structure two' is a meticulously "studs up" renovation. The front structure underwent a complete overhaul and now consists of two modern 2 bd + 1 ba units. The rear structure is brand new construction with a mix of one 2 bd + 1 ba and one 1 bd + 1 ba ADUs. All units are separately metered for all utilities (water sub-metering) and include open floor plans, modern kitchens, air conditioning and hard wood flooring. Its central location provides investors an extensive tenant pool. USC is a short 3 mile drive, Downtown LA is minutes to the North and access to the 110 Freeway is less than a mile away.

Listed by Enrique Viramontes | BRE #01372010 | Remax Commercial and Investment Realty
Last checked: 6 minutes ago | Last updated: April 16th, 2024 | Source CRMLS | DOM: 21
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Home details

Lot Sq. Ft
5,093
HOA Dues
$0/mo
Year built
2024
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24377657
City
Los Angeles
County
Los Angeles
Time on Site
24 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 2
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,400
  • Total Rent: $2,400
  • Pro Forma/Market Rent: $2,400
Unit Breakdown 2
  • # of Units: 3
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $3,050
  • Total Rent: $9,150
  • Pro Forma/Market Rent: $9,150
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 6.79%
  • Gross Rent Multiplier: 11
  • Gross Scheduled Income: --
  • Net Operating Income: $103,516
  • Gross Operating Income: $134,442
Annual Expense Breakdown
  • Total Operating Expense: --

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Property Details for 438 E 56Th St

Interior Features
Heating Information
  • Has Heating
  • Wall Furnace
Kitchen Information
  • Has Appliances
Interior Features
  • Levels: One
Lot Details / Garage and Parking
Parking/Garage Information
  • Has Parking
  • Parking Features: Driveway
Lot Information
  • Lot Size Source: Assessor
Property Information
  • Total # of Units: 4
  • Parcel Number: 5101004022
  • Year Built Source: Builder
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: Located on E 56th St, between Avalon Blvd and San Pedro St
View more facts & features

Local Los Angeles Agent

Sale History for 438 E 56Th St

Last sold for $490,000 on July 12th, 2023

  • April, 2024

  • Apr 8, 2024

    Date

    Active

    CRMLS: 24377657

    $1,525,000

    Price

  • July, 2023

  • Jul 12, 2023

    Date

    Sold

    CRMLS: IN22245930

    $490,000

    Price

  • Dec 3, 2022

    Date

    Active

    CRMLS: IN22245930

    $575,000

    Price

  • Listing provided courtesy of CRMLS

    Investor's dream. Beautiful 2 bedrooms and 1 full bathroom. Needs work, Large lot for units. Price reduced to $490,000.00 for a quick sale. Bring all offers. Agents should perform all their investigations before submitting the offer. Property is sold "AS IS". Seller will not do any repairs nor credit buyer for repairs.

  • March, 2000

  • Mar 15, 2000

    Date

    Sold (Public Records)

    Public Records

    $125,000

    Price

Show More

Tax History for 438 E 56Th St

Assessed Value (2020): $175,650
Year Land Value Improved Value Assessed Value
2020 $104,972 $70,678 $175,650

Home Value Compared to the Market

This property vs the competition

438 E 56Th St is listed 24.49% higher than the median list price for the city of Los Angeles which has a median list price of $1,225,000. The median price per/sqft for Los Angeles is $774 and this home is listed at $687.25 per/sqft which puts the price per square foot 11.21% lower than the median price per square foot for the city of Los Angeles.

About 438 E 56Th St

Detailed summary of property

438 E 56Th St is a multi family located in Los Angeles, CA 90011 and is currently for sale. This multi family property offers 7 bedrooms, 4 bathrooms, roughly 2,219 living square feet, and sits on an approximately 5,093 square foot lot. 438 E 56Th St was first listed on ArdentRealEstateGroup.com on April 9, 2024. The homeowner is currently asking $1,525,000. The median priced home in Los Angeles is $1,225,000 with a median price per square foot of $774. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 24.49% higher than the median priced home. Local competing homes currently for sale include 263 W 41st Pl, 1545 E 56th St and 894 E 35th St. While the average home in Los Angeles, CA is selling in 96 days, 438 E 56Th St has a days on market of 21 days. There are currently 3485 homes for sale in the Los Angeles real estate market and 2372 of them are single family homes while 1013 of them are condos and 94 are townhomes. For more information on this home for sale at 438 E 56Th St Los Angeles, CA 90011 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 438 E 56Th St

Public county record property details
Beds
2
Baths
1
Year built
1904
Sq. Ft.
1,100
Lot Size
5,093
Stories
--
Type
Single Family Residential
Pool
No
Spa
No
County
Los Angeles
Lot#
27
APN
5101-004-022

The source for these homes facts are from public records.

90011 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$620,000
Median List Price/Sq.Ft.
$460
Median Sold Price
$550,000
Median Sold Price/Sq.Ft.
$405
Total Inventory
40
Median Sale to List Price %
104.76%
Avg Days on Market
54
Loan Type
Conventional (33.33%), FHA (25%), VA (0%), Cash (33.33%), Other (8.33%)

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Homes for Sale Near 438 E 56Th St

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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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