3044 Edgehill Drive
Los Angeles, CA, 90018 $ 1,640,000
Bedrooms8 Baths1.0 Sq 7,574 Monthly Estimate*
$ 11,456
for $1,640,000 with 8 bedrooms and 1 full bath. This 7,574 square foot home was built in 1929 on a lot size of 0.1838.
We are proud to present The Jefferson, an amazing multifamily opportunity located at 3044 Edgehill Dr., Los Angeles, California. This unique apartment complex is comprised of (8) apartment units in one distinct two-story building. The building was constructed of a wood frame with a flat roof and stucco exterior. The development of the building was completed in 1929 and encompassed an impressive ±7,574 building square feet situated on one parcel totaling ±8,005 square feet, offering a zoning of LARD1.5. The updated apartment units are massive and consist of (8) one-bedroom + one-bath units, offering two points of entry. Each unit is individually metered for gas and electric, along with individual hot water heaters, further lowering utility costs. In recent years, the property systems have been upgraded, and the property offers a newer roof and copper plumbing, along with earthquake gas shut-off valves. The building is accessible from the front of the property off Edgehill Dr., and the property provides 7 onsite parking spaces that have yet to be monetized. Though certain upgrades have been made, there is still a considerable amount of value-add potential at the property, as well as tremendous upside, offering ±88% in potential untapped rental income, making The Jefferson an incredible opportunity for an investor looking to acquire a well-positioned asset at an unbelievable price of $216.53 p/sf. (8) One-Bedroom + One-Bath Jefferson Park is a historic neighborhood located in the South Los Angeles region of Los Angeles, California. Situated just south of Downtown Los Angeles, Jefferson Park is bounded by West Adams to the north, Leimert Park to the south, Arlington Heights to the west, and the Exposition Park area to the east. The neighborhood is known for its diverse community, rich cultural heritage, and historic architecture. Jefferson Park offers a range of housing options, including apartments, single-family homes, and duplexes. The neighborhood’s apartment rental market is diverse, with properties ranging from historic buildings with charming architectural details to modern developments with luxury amenities. Rental prices in Jefferson Park tend to be more affordable compared to other neighborhoods in Los Angeles, making it an attractive option for renters seeking urban living without the high costs.
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FeaturesGeneralSewer PublicSewer
Zoning LARD1.5
Garage Spaces 0.0
Pool Features None
Year Built 1929
Stories 2
Levels Two
Property SubType Apartment
Gross Income 117252.0
Community Features Suburban
County Los Angeles
Net Operating Income 67776.0
Operating Expense 45958.0
Insurance Expense 0.0
New Construction N
Property Type ResidentialIncome
HOA / Comm Assn N
Attached Garage N
Garage Y/N N
Special Listing Conditions Standard
Status Active
Directions 3044 Edgehill Dr. Los Angeles CA 90018
City Los Angeles
Entry Location 1
View Y/N N
Senior Community Y/N N
Open Parking Spaces 0.0
Total Units 8
MLS Area C16 - Mid Los Angeles
Lot Size Square Feet 8005.0
Private Pool N
Waterfront Y/N N
Carport Spaces 7.0
Carport Y/N Y
Street Name Edgehill
Listing Terms Cash CashtoNewLoan Conventional Contract
Property Attached Y/N Y
Land Lease Y/N N
Electric Expense 0.0
Home Warranty Y/N N
Fuel Expense 0.0
Trash Expense 0.0
Water Sewer Expense 0.0
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N Y
Virtual Tour https://my.matterport.com/show/?m=aJW3ANuJu7F&brand=0 https://www.youtube.com/watch?v=GkP-290RQ54&t=1s
Days on Market 0
Building Area Units SquareFeet
Standard Status Active
Year Built Source PublicRecords
Tax Lot 9
Property Sub Type Additional Apartment
Cap Rate 4.13
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ExteriorLot Features Item610UnitsAcre
Water Source Public
Total Parking 7.0
Lot Size Area 8005.0
Number of Buildings 1
Spa N
Building Area Total 7574.0
Lot Size Acres 0.1838
Lot Size Units SquareFeet
Lot Size Source PublicRecords
Number of Separate Water Meters 0
Number of Separate Gas Meters 8
Number of Separate Electric Meters 8
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 2
Common Walls Item2CommonWalls
Basement (Y/N) N
Air Conditioning Y/N N
Heating Y/N N
Fireplace Y/N N
Street Suffix Drive
Laundry Features None
Entry Level 1
Electric On Property Y/N N
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* Excluded FeaturesAffordability Calculator
- Monthly Principal & Interest
- $11,456
- 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 $1,994,800
Percent of Sale Price 22%
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 |
---|
4/23/2024 | $1,640,000 | | Listed Price |