12
See all 12 photos
$1,640,000
Est. payment /mo
15 BD
9 BA
4,809 SqFt
New
1641 S New Hampshire AVE Los Angeles, CA 90006
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UPDATED:
03/10/2025 06:45 PM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,809 sqft
Price per Sqft $341
MLS Listing ID 25505735
Bedrooms 15
HOA Y/N No
Year Built 1961
Lot Size 6,551 Sqft
Property Description
9 units located in Historic Pico Union being offered at a below market $182,222 Price Per Unit! This professionally managed 1960's construction asset has a great top-heavy unit mix with (7) 2 Bed/1 Bath, (1) 1 Bed/1 Bath & (1) Single with some parking in the back being rented out by tenants. The entire building was re-piped to copper plumbing throughout in 2016 with permits pulled. Unit #9, 1 Bed/1 Bath, is new construction as the owner converted tuck-under parking into an ADU (new C of O and permits issued). On-site laundry room has brand new digital pay washer & dryer machines that are Landlord owned with NO laundry leases. EQ retrofit work has been completed, EQ shut off valves have been installed on the gas meters, and the master water heater was recently replaced -- all work done with permits. Separately metered for gas & electricity, and some units are on RUBS for utility reimbursements to help keep operating costs down. In-place 5.12% cap rate and 11.65x GRM on current rents and 2024 actual expenses (+ including new tax rate & assessments based on list price). 75% rental upside remaining to a stabilized 10.86% cap rate and 6.8x GRM. Tenant safety features include a gated & secured perimeter and located just 1/2 mile from both LAFD Station 13 and Olympic Community Police Station. Tenants enjoy being centrally located just blocks from both the 10 and 110 freeway entrance/exits, and just over 1 mile from Downtown LA, LA Live, Crypto.com Arena, and more!
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Zoning LARD1.5
Interior
Interior Features Ceiling Fan(s)
Heating Wall Furnace
Fireplaces Type None
Fireplace No
Appliance Dishwasher, Microwave, Refrigerator
Exterior
Parking Features Assigned
Pool None
Community Features Gated
Total Parking Spaces 3
Private Pool No
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5075018028
Security Features Gated Community
Financing Cash,Conventional
Special Listing Condition Standard
Listed by Jonathan Rawson • Avenue Realty Group
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