3018 9th Avenue
Los Angeles, CA, 90018 $ 1,495,000
Bedrooms8 Baths8.0 Sq 4,524 Monthly Estimate*
$ 10,443
for $1,495,000 with 8 bedrooms and 8 full baths. This 4,524 square foot home was built in 1947 on a lot size of 0.2477.
LOW LOW RENTS. 2 UNITS VACANT & 1 MORE IN PROCESS OF EVICTION. This remarkable and distinctive real estate offering at 3018 9th Ave, located in the heart of Mid City, Los Angeles. This unique property encompasses three separate structures designed in an elegant garden-style, with the two front structures each housing three units, while the rear structure currently stands vacant and contains two units. All units are conveniently single-story, providing tenants with ease of access.Each of the eight units in this complex features a functional 1 bedroom and 1 bathroom layout, striking a perfect balance between space and privacy for residents. Notably, one of the vacant units in the rear structure has been recently renovated, boasting updated bathrooms, kitchens, and appliances, making it an appealing option for prospective tenants.Moreover, the units include washer/dryer hookups, adding to their desirability and convenience. Additionally, the property encompasses an underutilized detached garage with eight single-car parking spots. While presently used for tenant storage, this space holds great potential for conversion into an Accessory Dwelling Unit (ADU), which could significantly enhance your return on investment (Buyer to Verify).With a generous 4,524 sq. ft. of interior space situated on a spacious 10,789 sq. ft. lot, this property not only exudes visual charm but also serves as a robust income generator. Currently, two units are vacant, providing an immediate opportunity for increased rental income. Furthermore, there exists a substantial 46% rental upside, waiting to be realized, which promises an exceptional chance to maximize your return on investment.The financial track record of 3018 9th Ave speaks to its ability to generate strong cash flow, making it an attractive addition to your investment portfolio. This property stands as a strategically positioned asset in the thriving Mid City real estate market, making it an enticing prospect for seasoned investors seeking a reliable source of income and newcomers looking to enter the market. Please do not disturb any of the tenants. All showings will be subject to an accepted offer.
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FeaturesGeneralHeating WallFurnace
Cooling WallWindowUnits
Appliances Refrigerator
Zoning LARD3
Year Built 1947
View Courtyard
Stories 1
Levels One
Gross Income 125273.0
County Los Angeles
Net Operating Income 69282.0
New Construction N
Property Type ResidentialIncome
HOA / Comm Assn N
Attached Garage N
Garage Y/N N
Special Listing Conditions Standard
Status Pending
Directions Jefferson Blvd & Crenshaw Blvd Major Cross Streets.
City Los Angeles
View Y/N Y
Senior Community Y/N N
Total Units 8
MLS Area C16 - Mid Los Angeles
Lot Size Square Feet 10789.0
Private Pool N
Waterfront Y/N N
Carport Y/N Y
Street Name 9th
Property Attached Y/N N
Land Lease Y/N N
Home Warranty Y/N N
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Days on Market 98
Standard Status Pending
Cap Rate 4.74
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ExteriorParking Features DetachedCarport
Total Parking 8.0
Lot Size Area 10789.0
Number of Buildings 3
Spa N
Building Area Total 4524.0
Lot Size Acres 0.2477
Lot Size Units SquareFeet
Lot Size Source Assessor
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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InteriorTotal Stories 1
Basement (Y/N) N
Air Conditioning Y/N Y
Heating Y/N Y
Fireplace Y/N N
Full Baths 0
Half Baths 0
1/4 Baths 0
3/4 Baths 0
Street Suffix Avenue
Laundry Features Stacked
Total Bedrooms 8
Electric On Property Y/N N
Total Baths 8
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* Excluded FeaturesAffordability Calculator
- Monthly Principal & Interest
- $10,443
- Monthly Property Taxes
- --
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyMulti-family listings in Los Angeles, CA
Average List Price $1,986,097
Percent of Sale Price 33%
About Los Angeles, CA 3,920,026 Population
6% Since 2002
$ 55,057 Median Income
36.82 Median Age
27% Households with Children
Trends Information provided by ATTOM Data Solutions.
273443 Elementary School
272636 Middle School
Unknown High School High School
Pricing HistoryDate | Price | Price Change | Description |
---|
12/6/2023 | $1,495,000 | -8.00% | Price Down |
11/9/2023 | $1,625,000 | | Listed Price |