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841 W 74Th St, Los Angeles, CA 90044
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841 W 74Th St Los Angeles, CA 90044

$599,000 Sold Price as of 03/04/2022
  • 7 Beds
  • 4 Baths
  • 2,238 Sq.Ft.
Sold
$599,000 Sold Price as of 03/04/2022 Refinance Your Mortgage
Map preview of 841 W 74Th St, Los Angeles, CA 90044

Property Overview: 841 W 74Th St Los Angeles, CA has 7 bedrooms, 4 bathrooms, 2,238 living square feet and 5,603 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: We are pleased to present this bite size deal in South Los Angeles. This 4-unit property sits on a 5,602 sq.ft lot (0.13 acres), has a total building size of 2,238 sq.ft., and boasts a good unit mix of (2) 1-bed/1-bath units, (1) 2-bed/1-bath ADU, and (1) 3-bed/1-bath house. This property is currently 3 legal units with 1 non-conforming unit which is a converted garage. However, the Seller has just received fully approved RTI plans to legally convert the nonconforming unit to a legal ADU. The seller will be selling this property as-is, and the Buyer will be responsible for completing the ADU conversion. The Seller has received bids to complete this ADU work, and the cost will be between $50,000 to $60,000.Therefore, the buyer of this property should expect a total investment of up to $659,000 including the purchase price and ADU conversion cost. At this total cost, the buyers effective CAP rate will be 5.22% with the long-term value add potential of over 35% upside in rents. If the buyer was able to get all of the units to our very achievable market rents, the buyer will be able to achieve an extremely desirable 8.50% CAP rate and an estimated 17.81% cash-on-cash return!

Listed by Filip Niculete | BRE #01905352 | Marcus & Millichap
Last checked: 13 minutes ago | Last updated: March 23rd, 2022 | Source CRMLS | DOM: 293

Home details

Lot Sq. Ft
5,603
HOA Dues
$0/mo
Year built
1910
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
21715822
City
Los Angeles
County
Los Angeles
Time on Site
1261 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 2
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $928
  • Total Rent: $928
  • Pro Forma/Market Rent: $1,350
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,485
  • Total Rent: $1,485
  • Pro Forma/Market Rent: $1,650
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,364
  • Total Rent: $1,364
  • Pro Forma/Market Rent: $2,150
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 10.61
  • Gross Scheduled Income: --
  • Net Operating Income: $35,181
  • Gross Operating Income: $56,448
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 841 W 74Th St

Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 4
  • Has Parking
Property Information
  • Total # of Units: 4
  • Parcel Number: 6020003026
Location / Neighborhood
Location Information
  • Directions: 74th & Hoover
View more facts & features

Local Los Angeles Agent

Sale History for 841 W 74Th St

Last sold for $599,000 on March 4th, 2022

  • July, 2021

  • Jul 1, 2021

    Date

    Active Under Contract

    CRMLS: 21715822

    $599,000

    Price

  • Apr 30, 2021

    Date

    Active

    CRMLS: 21715822

    $599,000

    Price

  • Apr 30, 2021

    Date

    Active Under Contract

    CRMLS: 21715822

    $599,000

    Price

  • Apr 7, 2021

    Date

    Active

    CRMLS: 21715822

    $599,000

    Price

  • August, 2016

  • Aug 15, 2016

    Date

    Sold (Public Records)

    Public Records

    $459,000

    Price

  • June, 2016

  • Jun 17, 2016

    Date

    Sold (Public Records)

    Public Records

    $287,400

    Price

Show More

Tax History for 841 W 74Th St

Assessed Value (2020): $487,093
Year Land Value Improved Value Assessed Value
2020 $338,524 $148,569 $487,093

Home Value Compared to the Market

This property vs the competition

841 W 74Th St sold on March 4, 2022 for 46.52% lower 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 $267.65 per/sqft which puts the price per square foot 63.03% lower than the current median sale per square foot for the city of Los Angeles.

About 841 W 74Th St

Detailed summary of property

841 W 74Th St is a multi family that recently sold in Los Angeles, CA 90044. This multi family property offered 7 bedrooms, 4 bathrooms, roughly 2,238 living square feet, and sits on an approximately 5,603 square foot lot. 841 W 74Th St was first listed on ArdentRealEstateGroup.com on April 7, 2021. The homeowner sold the property for $599,000. 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 46.52% lower than the current median priced home. Local homes that are currently for sale include 118 E 84th St, 242 W 58th St and 1743 W 70th St. While the average home in Los Angeles, CA is selling in 106 days, 841 W 74Th St has a days on market of 293 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 841 W 74Th St Los Angeles, CA 90044 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 841 W 74Th St

Public county record property details
Beds
2
Baths
3
Year built
1910
Sq. Ft.
1,744
Lot Size
5,602
Stories
--
Type
Duplex (2 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
45
APN
6020-003-026

The source for these homes facts are from public records.

90044 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.
$513
Median Sold Price
$717,000
Median Sold Price/Sq.Ft.
$513
Total Inventory
87
Median Sale to List Price %
102.58%
Avg Days on Market
27
Loan Type
Conventional (38.1%), FHA (23.81%), VA (0%), Cash (9.52%), Other (9.52%)

Thinking of Selling?

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Thinking of Selling?
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(714) 706-1823

Homes for Sale Near 841 W 74Th St

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Recently Sold Homes Near 841 W 74Th 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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