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903 E 79th St, Los Angeles, CA 90001
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903 E 79th St Los Angeles, CA 90001

$982,600 Sold Price as of 07/01/2022
  • 4 Beds
  • 4 Baths
  • 3,194 Sq.Ft.
Sold
$982,600 Sold Price as of 07/01/2022 Refinance Your Mortgage
Map preview of 903 E 79th St, Los Angeles, CA 90001

Property Overview: 903 E 79th St Los Angeles, CA has 4 bedrooms, 4 bathrooms, 3,194 living square feet and 6,895 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Existing 4-unit building that will be delivered VACANT with ready-to-issue plans for additional 1 ADU unit! This quadruplex is an excellent investment opportunity with huge upside potential! Located in Los Angeles, this property currently features four 1-bed, 1-bath units. Exterior has recently been repainted and interiors have been demoed and are ready for renovation. A detached multi-car garage is also ready to be converted into a fifth 3-bed, 2 bath rentable unit (ADU) to maximize the income potential. The building permit and plans have been fully approved (see supplements) and are ready for construction. Excellent corner lot location with high visibility and conveniently located near schools and local amenities.

Listed by Aaron Zapata | BRE #01356534 | IMPACT Properties, Inc
Co-listed by Todd Anderson | BRE #02077325 | IMPACT Properties, Inc
Last checked: 38 seconds ago | Last updated: May 1st, 2024 | Source CRMLS | DOM: 19

Home details

Lot Sq. Ft
6,895
HOA Dues
$0/mo
Year built
1941
Garage
4 Car
Property Type:
Fourplex
Status
Sold
MLS#
PW22068977
City
Los Angeles
County
Los Angeles
Time on Site
760 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 1
  • # of Leased Units: 4
  • # of Electric Meters: 0
  • # of Gas Meters: 4
  • # of Water Meters: 0
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $1,700
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $1,700
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $1,700
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $1,700
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 8.7%
  • Gross Rent Multiplier: 7.85
  • Gross Scheduled Income: $9,495
  • Net Operating Income: $9,495
  • Gross Operating Income: --
  • # of Rented Garages: 4
  • Garage Rental Rate: $0
  • Garage Rental Income: $0
  • Laundry Income: $0
Annual Expense Breakdown
  • Total Operating Expense: $0
  • Electric: $0
  • Trash: $0
  • Insurance: $0
  • Water/Sewer: $0

Virtual Tour

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Property Details for 903 E 79th St

Interior Features
Laundry Information
  • Has Laundry
  • Gas Dryer Hookup, Washer Hookup
Kitchen Information
  • No Appliances
  • None
Interior Features
  • Levels: One
Exterior Features
Exterior Information
  • Has Fence
  • Security
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 4
  • # of Parking Spaces: 4
  • Has Parking
  • Parking Features: See Remarks
Lot Information
  • Lot Features: Corner Lot
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 4
  • Parcel Number: 6023029015
  • Year Built Source: Public Records
  • Property is Attached
  • Accessibility Features: None
  • Property Condition: Fixer
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: None
  • Water Source: None
Location / Neighborhood
Location Information
  • Directions: From 110, exit on Manchester and go East. Turn left on Central, left on 79th, and property will be on right side on the corner of Wadsworth and 79th.
Neighborhood Information
  • Community Features: Street Lights
View more facts & features

Local Los Angeles Agent

Sale History for 903 E 79th St

Last sold for $982,600 on July 1st, 2022

  • April, 2024

  • Apr 30, 2024

    Date

    Expired

    CRMLS: 23326755

    $1,695,000

    Price

  • Oct 30, 2023

    Date

    Active

    CRMLS: 23326755

    $1,695,000

    Price

  • Listing provided courtesy of CRMLS

    We are proud to present a notable investment opportunity at 903 E 79th St, consisting of a 5-unit multifamily property strategically positioned on a corner lot. The property comprises an advantageous unit mix that includes four 2-bedroom/1-bathroom units and a newly constructed 3-bedroom/2-bathroom Accessory Dwelling Unit (ADU). Noteworthy improvements have been made throughout each unit, highlighted by comprehensive renovations, the introduction of new copper plumbing, and the installation of tankless water heaters. These enhancements not only contribute to the property's overall appeal but also facilitate the potential for future individual water metering.An element that underscores the property's investment appeal is the individual metering of gas and electricity, a strategic feature that significantly reduces utility expenses for the owner. This cost-effective measure is further complemented by the billing back of trash expenses to tenants, optimizing the cost-efficiency of the investment. Each unit has been updated to embody modern living standards, featuring renovated kitchens and bathrooms, alongside the installation of energy-efficient windows. Adding to the property's residential appeal is the provision of private entry gates for each unit, enhancing tenant privacy and security.Positioned directly across from McKinley Avenue Elementary School and just three blocks away from Fremont High School, the property's location is particularly beneficial. This strategic proximity to key educational institutions enhances its attractiveness, especially for families with children, promoting sustained rental demand.In a broader investment context, this asset stands out as practically "like-new" in one of the city's most densely inhabited regions. It promises strong income prospects due to its desirable unit mix, strategic renovations, and efficient utility management. Therefore, this property represents a substantial opportunity for investors aiming to capitalize on a multifamily asset within a dynamic urban community.

  • July, 2022

  • Jul 1, 2022

    Date

    Sold

    CRMLS: PW22068977

    $982,600

    Price

  • Apr 8, 2022

    Date

    Active

    CRMLS: PW22068977

    $895,000

    Price

  • June, 2021

  • Jun 24, 2021

    Date

    Sold

    CRMLS: PW20216343

    $555,000

    Price

  • Feb 22, 2021

    Date

    Pending

    CRMLS: PW20216343

    $625,000

    Price

  • Jan 15, 2021

    Date

    Active Under Contract

    CRMLS: PW20216343

    $625,000

    Price

  • Jan 8, 2021

    Date

    Hold

    CRMLS: PW20216343

    $625,000

    Price

  • Jan 8, 2021

    Date

    Active

    CRMLS: PW20216343

    $625,000

    Price

  • Oct 28, 2020

    Date

    Active Under Contract

    CRMLS: PW20216343

    $625,000

    Price

  • Oct 26, 2020

    Date

    Hold

    CRMLS: PW20216343

    $625,000

    Price

  • Oct 23, 2020

    Date

    Active

    CRMLS: PW20216343

    $625,000

    Price

  • Oct 15, 2020

    Date

    Withdrawn

    CRMLS: PW20216343

    $625,000

    Price

  • Oct 14, 2020

    Date

    Active

    CRMLS: PW20216343

    $625,000

    Price

  • Listing provided courtesy of CRMLS

    Great opportunity and potential with this property. This property has 4 units that are all currently occupied.

  • November, 2020

  • Nov 23, 2020

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • January, 2019

  • Jan 3, 2019

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 903 E 79th St

Assessed Value (2020): $123,610
Year Land Value Improved Value Assessed Value
2020 $27,995 $95,615 $123,610

Home Value Compared to the Market

This property vs the competition

903 E 79th St sold on July 1, 2022 for 24.79% lower 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 $280.21 per/sqft which puts the price per square foot 62.89% lower than the current median sale per square foot for the city of Los Angeles.

About 903 E 79th St

Detailed summary of property

903 E 79th St is a fourplex that recently sold in Los Angeles, CA 90001. This fourplex offered 4 bedrooms, 4 bathrooms, roughly 3,194 living square feet, and sits on an approximately 6,895 square foot lot. 903 E 79th St was first listed on ArdentRealEstateGroup.com on April 8, 2022. The homeowner sold the property for $982,600. 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 24.79% lower than the current median priced home. Local homes that are currently for sale include 1135 E 67th St, 217 E 77th St and 348 E 68th St. While the average home in Los Angeles, CA is selling in 94 days, 903 E 79th St has a days on market of 19 days. There are currently 3580 homes for sale in the Los Angeles real estate market and 2422 of them are single family homes while 1059 of them are condos and 93 are townhomes. For more information on this home for sale at 903 E 79th St Los Angeles, CA 90001 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 903 E 79th St

Public county record property details
Beds
4
Baths
4
Year built
1941
Sq. Ft.
2,537
Lot Size
6,895
Stories
--
Type
Quadruplex (4 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
60
APN
6023-029-015

The source for these homes facts are from public records.

90001 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$589,999
Median List Price/Sq.Ft.
$540
Median Sold Price
$575,000
Median Sold Price/Sq.Ft.
$506
Total Inventory
33
Median Sale to List Price %
100%
Avg Days on Market
49
Loan Type
Conventional (28.57%), FHA (28.57%), VA (0%), Cash (14.29%), Other (14.29%)

Thinking of Selling?

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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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