Search
961 W 47th St, Los Angeles, CA 90037
Image 2 for 961 W 47th St, Los Angeles, CA 90037
Image 3 for 961 W 47th St, Los Angeles, CA 90037
View Photos

961 W 47th St Los Angeles, CA 90037

$1,400,000
  • 8 Beds
  • 4 Baths
  • 2,772 Sq.Ft.
For Sale
$1,400,000 Get Pre-Qualified
Map preview of 961 W 47th St, Los Angeles, CA 90037

Property Overview: 961 W 47th St Los Angeles, CA has 8 bedrooms, 4 bathrooms, 2,772 living square feet and 6,685 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: Fantastic Investment Opportunity! This charming and well-maintained fourplex offers four units, each featuring 2 bedrooms and 1 bathroom. Recent upgrades include renovated kitchens and bathrooms in each unit. With close to 2,800 sq. ft. of living space on an over 6,600 sq. ft. lot, this property presents a lucrative investment potential. Zoned LARD3, the property also had previous permits for an ADU that have now expired, allowing for an additional 2 bed/1 bath unit to further increase income potential. Garage will be vacant upon closing. Conveniently located near the 110 Freeway, Downtown LA, Staples Center, LA Live, USC, museums, parks, and major restaurants, this property is an excellent investment opportunity. The property will be delivered with tenants in place, ensuring immediate rental income. Tenants are not aware of the sale, so please do not disturb them.

Listed by Michael Massa | BRE #02082631 | Coldwell Banker Realty
Co-listed by Brian Mallasch | BRE #01748272 | Coldwell Banker Realty
Last checked: 2 minutes ago | Last updated: May 9th, 2024 | Source CRMLS | DOM: 15
Get a $5,250 Cash Reward New

Buy this home with Ardent Real Estate Group and get $5,250 back.

Call/Text (714) 706-1823

Home details

Lot Sq. Ft
6,685
HOA Dues
$0/mo
Year built
1913
Garage
3 Car
Property Type:
Fourplex
Status
Active
MLS#
SR24086410
City
Los Angeles
County
Los Angeles
Time on Site
15 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 3
  • # of Leased Units: 4
  • # of Electric Meters: 4
  • # of Gas Meters: 3
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,150
  • Total Rent: $2,150
  • Pro Forma/Market Rent: $2,500
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,950
  • Total Rent: $1,950
  • Pro Forma/Market Rent: $2,500
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,400
  • Total Rent: $1,400
  • Pro Forma/Market Rent: $2,500
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,000
  • Total Rent: $2,000
  • Pro Forma/Market Rent: $2,500
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $88,500
  • Net Operating Income: $64,534
  • Gross Operating Income: $88,500
Annual Expense Breakdown
  • Total Operating Expense: $23,966
  • Gas/Fuel: $0
  • New Taxes: $17,500
  • Trash: $0
  • Insurance: $0
  • Water/Sewer: $6,466

Open Houses for 961 W 47th St

No upcoming open houses

Schedule Tour

Virtual Tour

Use the following link to view this property's virtual tour:

Property Details for 961 W 47th St

Interior Features
Laundry Information
  • Has Laundry
  • Electric Dryer Hookup, Washer Hookup
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 3
  • # of Parking Spaces: 3
Lot Information
  • Lot Features: 2-5 Units/Acre, Front Yard, Lawn
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 4
  • Parcel Number: 5018009022
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is not Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: South of Vernon Ave/East of Vermont Ave/West of Hoover Ave/North of Slauson Ave.
Neighborhood Information
  • Community Features: Curbs, Sidewalks, Storm Drains, Street Lights, Suburban
View more facts & features

Local Los Angeles Agent

Sale History for 961 W 47th St

Last sold for $1,040,000 on August 13th, 2020

  • May, 2024

  • May 1, 2024

    Date

    Active

    CRMLS: SR24086410

    $1,400,000

    Price

  • January, 2022

  • Jan 18, 2022

    Date

    Withdrawn

    CRMLS: RS21258049

    $1,299,000

    Price

  • Listing provided courtesy of CRMLS

    GREAT INVESTMENT OPPORTUNITY IN LOS ANGELES!! Well maintained 4-unit building! The property features (4) 2 bed/1 bath units all with great tenants in place. Property also has permits for an ADU, ready to be build an additional 2 bed/1 bath unit to generate more income. Good Location in Los Angeles, near the 110 Freeway, Downtown LA, Staples Center, LA Live, USC, Banc of California Stadium, and not to mention countless museums, parks and recreations, along with major restaurants nearby. This property won't last!

  • August, 2020

  • Aug 14, 2020

    Date

    Sold

    CRMLS: P0-820002394

    $1,040,000

    Price

  • Jul 17, 2020

    Date

    Pending

    CRMLS: P0-820002394

    $940,000

    Price

  • Jun 25, 2020

    Date

    Active

    CRMLS: P0-820002394

    $940,000

    Price

  • Listing provided courtesy of CRMLS

    Located on West 47th Street in Los Angeles, California, this fully vacant quadraplex offers a true COVID-19 hedge with 'ready-to-issue' plans for a legal ADU. The asset offers an amazing unit mix with (4) - 2 Bed / 1 Bath and RTI plans for a (1) - 3 Bed / 2 Bath ADU. This asset offers huge cash flows for a potential Buyer with an all-in cap rate of 8.91% inclusive of a capital expenditure allowance of $130,000. By capturing Section 8 rents, a potential Buyer will have the opportunity to cash-flow over 11.75%. Currently, the asset qualifies for a 30 year fixed residential financing. With proper timing, there is potential for a potential Buyer to lock in double digit cash flows for the following 30 Years (Buyer to verify). By refinancing the asset prior to the issuance of the ADU's certificate of occupancy, a Buyer may finance their new five unit asset with residential financing (Buyer to Verify).

  • August, 2020

  • Aug 13, 2020

    Date

    Sold (Public Records)

    Public Records

    $1,040,000

    Price

  • November, 2018

  • Nov 27, 2018

    Date

    Canceled

    CRMLS: 18400228

    $795,000

    Price

  • Nov 13, 2018

    Date

    Active

    CRMLS: 18400228

    $795,000

    Price

  • Nov 13, 2018

    Date

    Canceled

    CRMLS: 18400228

    $795,000

    Price

  • Nov 13, 2018

    Date

    Hold

    CRMLS: 18400228

    $795,000

    Price

  • Oct 24, 2018

    Date

    Active

    CRMLS: 18400228

    $795,000

    Price

  • Listing provided courtesy of CRMLS

    With 100% of the units recently vacated, 47th Street is a unique opportunity for a new investor to capitalize on the red-hot South Los Angeles rental market. The large floor plans are ripe for renovation and once turned, these units will command a top of the 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 a dense rental market location just South of Downtown Los Angeles and Exposition park. Additionally, there is garage parking at the alley entrance and gated entry to the property. Given that all units are currently vacant, an investor will be able to focus all their energy on a renovation strategy to generate the highest possible rents. The current vacancy also eliminates any rent control or Costa Hawkins concerns. There is a very clear path to the stabilization of 47th Street at sustainable market rents that will result in a post-rehab cap rate of 8.19%.

  • May, 2018

  • May 10, 2018

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • April, 2018

  • Apr 20, 2018

    Date

    Sold

    CRMLS: IV17262444

    $495,000

    Price

  • Mar 29, 2018

    Date

    Pending

    CRMLS: IV17262444

    $495,000

    Price

  • Mar 20, 2018

    Date

    Active Under Contract

    CRMLS: IV17262444

    $495,000

    Price

  • Nov 30, 2017

    Date

    Active

    CRMLS: IV17262444

    $495,000

    Price

  • Listing provided courtesy of CRMLS

    QUESTION DO YOU HAVE WHAT IT TAKES TO TURN AROUND A 4PLEX INCOME PROPERTY IN CITY REAP AND LOCATED IN (RSO) AREA) OF LA? IF YOU'RE A SERIOUSLY INTERESTED INVESTOR, CONTRACTOR, PROJECT MANAGER, OR PROPERTY TURN AROUND SPECIALIST WITH TRACK RECORD. MAKE AN OFFER. CHALLENGE YOURSELF WITH YOUR OWN PASSION TO GET THINGS DONE. DON'T MISS THIS OPPORTUNITY !!!! LOWEST PRICED PROPERTY IN AREA DISCOUNTED FOR SALE. SELLER WANTS SOLD. LONG TERM TENANTS WILL BE DELIVERED WITH PROPERTY AFTER OWNERSHIP CHANGE.

  • November, 2017

  • Nov 1, 2017

    Date

    Expired

    CRMLS: 17257800

    $525,000

    Price

  • Aug 8, 2017

    Date

    Price Change

    CRMLS: 17257800

    $525,000

    Price

  • Aug 8, 2017

    Date

    Active

    CRMLS: 17257800

    $52,500,000

    Price

  • Listing provided courtesy of CRMLS

    Each unit is occupied, tenants are on month-to-month tenancy and have resided on the property for a very long time (RSO area). Property is in REAP, in need of TLC and sold "As Is". If making an offer as a Corporation (INC.) or LLC, buyer will be required to present company documents to Escrow when presenting earnest money deposit. Access to parking garage is off alley. Minutes from Downtown L.A., USC, Expo. Park, The Coliseum and the 10 and 110 freeways. Seller will not make any repairs or give any credits for repairs.

Show More

Tax History for 961 W 47th St

Assessed Value (2020): $514,998
Year Land Value Improved Value Assessed Value
2020 $416,160 $98,838 $514,998

Home Value Compared to the Market

This property vs the competition

961 W 47th St is listed 12.09% 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 $774 and this home is listed at $505.05 per/sqft which puts the price per square foot 34.75% lower than the median price per square foot for the city of Los Angeles.

About 961 W 47th St

Detailed summary of property

961 W 47th St is a fourplex located in Los Angeles, CA 90037 and is currently for sale. This fourplex offers 8 bedrooms, 4 bathrooms, roughly 2,772 living square feet, and sits on an approximately 6,685 square foot lot. 961 W 47th St was first listed on ArdentRealEstateGroup.com on May 2, 2024. The homeowner is currently asking $1,400,000. The median priced home in Los Angeles is $1,249,000 with a median price per square foot of $774. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 12.09% higher than the median priced home. Local competing homes currently for sale include 140 E 47th Pl, 6209 S Hoover St and 3945 Denker Ave. While the average home in Los Angeles, CA is selling in 94 days, 961 W 47th St has a days on market of 15 days. There are currently 3654 homes for sale in the Los Angeles real estate market and 2456 of them are single family homes while 1102 of them are condos and 90 are townhomes. For more information on this home for sale at 961 W 47th St Los Angeles, CA 90037 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 961 W 47th St

Public county record property details
Beds
4
Baths
4
Year built
1913
Sq. Ft.
2,772
Lot Size
6,683
Stories
--
Type
Quadruplex (4 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
70
APN
5018-009-022

The source for these homes facts are from public records.

90037 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$749,000
Median List Price/Sq.Ft.
$517
Median Sold Price
$667,000
Median Sold Price/Sq.Ft.
$444
Total Inventory
32
Median Sale to List Price %
106.72%
Avg Days on Market
21
Loan Type
Conventional (0%), FHA (50%), VA (0%), Cash (33.33%), Other (0%)

Tour This Home

Buy with Ardent Real Estate Group and save $5,250.

Image Description
Contact Jon
Los Angeles Agent
Call, Text or Message
(714) 706-1823
Get a $5,250 Cash Reward New

Buy this home with Ardent Real Estate Group and get $5,250 back.

Call/Text (714) 706-1823

Homes for Sale Near 961 W 47th St

Nearby Homes for Sale

840 W 52nd St, Los Angeles, CA 90037
$1,250,000
15 Beds
6 Baths
5195 Sq.Ft.
840 W 52nd St
Los Angeles, CA 90037
828 W 41st St, Los Angeles, CA 90037
$1,250,000
8 Beds
4 Baths
4236 Sq.Ft.
828 W 41st St
Los Angeles, CA 90037
1557 W 52nd St, Los Angeles, CA 90062
$1,175,000
6 Beds
7 Baths
3337 Sq.Ft.
1557 W 52nd St
Los Angeles, CA 90062
4112 Dalton Ave, Los Angeles, CA 90062
$1,249,000
6 Beds
4 Baths
3558 Sq.Ft.
4112 Dalton Ave
Los Angeles, CA 90062
263 W 41st Pl, Los Angeles, CA 90037
$1,649,000
14 Beds
4 Baths
4368 Sq.Ft.
263 W 41st Pl
Los Angeles, CA 90037
136 W 48th St, Los Angeles, CA 90037
$1,680,000
9 Beds
7 Baths
4150 Sq.Ft.
136 W 48th St
Los Angeles, CA 90037
5321 Denker Ave, Los Angeles, CA 90062
$1,280,000
8 Beds
4 Baths
3220 Sq.Ft.
5321 Denker Ave
Los Angeles, CA 90062
Open Sat 11am-2:30pm
232 W 40th Pl, Los Angeles, CA 90037
$1,249,995
7 Beds
4 Baths
2407 Sq.Ft.
232 W 40th Pl
Los Angeles, CA 90037

Recently Sold Homes Near 961 W 47th St

957 W 47th St, Los Angeles, CA 90037
$555,000 Last Sold Price
4 Beds
3 Baths
2496 Sq.Ft.
957 W 47th St
Los Angeles, CA 90037
937 W 48th St, Los Angeles, CA 90037
$686,500 Last Sold Price
2 Beds
3 Baths
2217 Sq.Ft.
937 W 48th St
Los Angeles, CA 90037
940 W 48th St, Los Angeles, CA 90037
$995,000 Last Sold Price
20 Beds
12 Baths
3658 Sq.Ft.
940 W 48th St
Los Angeles, CA 90037
924 W 48th St, Los Angeles, CA 90037
$975,000 Last Sold Price
22 Beds
12 Baths
5015 Sq.Ft.
924 W 48th St
Los Angeles, CA 90037

Related Resources to 961 W 47th St

New Listings in 90037
Popular Zip Codes
Popular Cities
Other Los Angeles Resources

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.

Call