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7662 S Main St, Los Angeles, CA 90003
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7662 S Main St Los Angeles, CA 90003

$2,170,000 Sold Price as of 09/22/2022
  • 24 Beds
  • 12 Baths
  • 7,040 Sq.Ft.
Sold
$2,170,000 Sold Price as of 09/22/2022 Refinance Your Mortgage
Map preview of 7662 S Main St, Los Angeles, CA 90003

Property Overview: 7662 S Main St Los Angeles, CA has 24 bedrooms, 12 bathrooms, 7,040 living square feet and 10,194 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: We are pleased to present the opportunity to acquire 7662-7674 South Main Street, a twelve-unit apartment building in the Florence neighborhood of Los Angeles. Built in 1956, the property consists of two six-unit structures over two separate parcels. The building sits on two lots totaling 10,194 square feet with 7,040 of rentable space and is comprised of all two-bedroom one-bathroom units. The property provides tenants with on-site, gated parking (12 spaces) and the electricity and gas are both individually metered. With over 59% upside in rental income, the property provides an astute investor a unique value-add opportunity, potential capital gain deferment and long-term cash flow. Located South of West Florence and East of South Broadway, the property is centrally and just a short drive to the 110 and 105 freeways. The property is also walking distance from many local retail shops, restaurants and the 77th street community police station providing a safe environment for the local community.

Listed by Sevak Keshishian | BRE #01887505 | Marcus & Millichap
Last checked: 11 minutes ago | Last updated: September 27th, 2022 | Source CRMLS | DOM: 9

Home details

Lot Sq. Ft
10,194
HOA Dues
$0/mo
Year built
1956
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
22171327
City
Los Angeles
County
Los Angeles
Time on Site
829 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 12
  • Total # of Buildings: 2
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $816
  • Total Rent: $816
  • Pro Forma/Market Rent: $1,850
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $872
  • Total Rent: $872
  • Pro Forma/Market Rent: $1,850
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,096
  • Total Rent: $1,096
  • Pro Forma/Market Rent: $1,850
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,163
  • Total Rent: $1,163
  • Pro Forma/Market Rent: $1,850
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,600
  • Total Rent: $1,600
  • Pro Forma/Market Rent: $1,820
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,034
  • Total Rent: $1,034
  • Pro Forma/Market Rent: $1,850
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,600
  • Total Rent: $1,600
  • Pro Forma/Market Rent: $1,850
Unit Breakdown 8
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $872
  • Total Rent: $872
  • Pro Forma/Market Rent: $1,850
Unit Breakdown 9
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,700
  • Total Rent: $1,700
  • Pro Forma/Market Rent: $1,850
Unit Breakdown 10
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,163
  • Total Rent: $1,163
  • Pro Forma/Market Rent: $1,850
Unit Breakdown 11
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,163
  • Total Rent: $1,163
  • Pro Forma/Market Rent: $1,850
Unit Breakdown 12
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $872
  • Total Rent: $872
  • Pro Forma/Market Rent: $1,850
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.43%
  • Gross Rent Multiplier: 13.61
  • Gross Scheduled Income: --
  • Net Operating Income: $100,890
  • Gross Operating Income: $163,261
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 7662 S Main St

Interior Features
Cooling Information
  • No Cooling
  • None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 12
  • Has Parking
  • Parking Features: Gated
Lot Information
  • Lot Size Source: Other
Property Information
  • Total # of Units: 12
  • Parcel Number: 6022006018
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Location / Neighborhood
Location Information
  • Directions: South of West Florence and East of South Broadway, the property is centrally and just a short drive to the 110 and 105 freeways.
View more facts & features

Local Los Angeles Agent

Sale History for 7662 S Main St

Last sold for $2,170,000 on September 22nd, 2022

  • September, 2022

  • Sep 22, 2022

    Date

    Sold

    CRMLS: 22171327

    $2,170,000

    Price

  • Jun 22, 2022

    Date

    Active

    CRMLS: 22171327

    $2,280,000

    Price

  • April, 2014

  • Apr 8, 2014

    Date

    Sold (Public Records)

    Public Records

    $1,000,010

    Price

  • February, 2006

  • Feb 2, 2006

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 7662 S Main St

Assessed Value (2020): $560,443
Year Land Value Improved Value Assessed Value
2020 $224,176 $336,267 $560,443

Home Value Compared to the Market

This property vs the competition

7662 S Main St sold on September 22, 2022 for 103.57% 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 $323.86 per/sqft which puts the price per square foot 55.27% lower than the current median sale per square foot for the city of Los Angeles.

About 7662 S Main St

Detailed summary of property

7662 S Main St is a multi family that recently sold in Los Angeles, CA 90003. This multi family property offered 24 bedrooms, 12 bathrooms, roughly 7,040 living square feet, and sits on an approximately 10,194 square foot lot. 7662 S Main St was first listed on ArdentRealEstateGroup.com on June 23, 2022. The homeowner sold the property for $2,170,000. 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 103.57% higher than the current median priced home. Local homes that are currently for sale include 1213 W 93rd St, 618 W 49th St and 10507 S Figueroa St. While the average home in Los Angeles, CA is selling in 106 days, 7662 S Main St has a days on market of 9 days. There are currently 4139 homes for sale in the Los Angeles real estate market and 2834 of them are single family homes while 1183 of them are condos and 115 are townhomes. For more information on this home for sale at 7662 S Main St Los Angeles, CA 90003 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 7662 S Main St

Public county record property details
Beds
12
Baths
6
Year built
1956
Sq. Ft.
3,520
Lot Size
5,099
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
34,35
APN
6022-006-018

The source for these homes facts are from public records.

90003 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$599,000
Median List Price/Sq.Ft.
$562
Median Sold Price
$515,000
Median Sold Price/Sq.Ft.
$535
Total Inventory
49
Median Sale to List Price %
103%
Avg Days on Market
31
Loan Type
Conventional (41.67%), FHA (16.67%), VA (0%), Cash (16.67%), Other (25%)

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(714) 706-1823

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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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