Los Angeles, CA 90047 1515 W 103rd Street
$3,257,000
Presented By: Harry Alexander with Equity North Investments Inc.; [email protected]
SQFT • 12,752
Home Details
The subject property is a 16-unit multifamily 2 story apartment building build in 1965 located at 1515 W 103rd St Los Angeles CA 90047. The building is approximately 12,752 Sq Ft and sits on a 17,282 Sq Ft lot, with 26 bedrooms and 22 bathrooms comprised of 2-3 bedroom 2 bath units, 4-2 bedroom 2 bath units 2-2 bedrooms 1 bath and 8-1-bedroom 1 bath units. This property offers a tremendous opportunity for long term growth and stability, opportunity to add value through long term rental increases, current rents are 35% under market rents. Investments should result in a stabilize 9.5 + CAP rate. The building offers modern convenience with extra-large floor plans, great amenities and low maintenance to include full laundry facility, covered car ports and low vacancy. These benefits will keep the building’s chances of operating at full occupancy, as well as fundamentally serve as a comfortable living establishment for tenants, allowing the property to realize an upside in overall rental income and property value appreciation over the next five - ten years.
Presented By: Harry Alexander with Equity North Investments Inc.; [email protected]
Interior Features for 1515 W 103rd Street
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsTwoCommonWallsOrMore
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesCommonArea
Total Stories2
Other Rooms
Entry Level1
General for 1515 W 103rd Street
Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate5.7
Carport Spaces16.0
Carport Y/NYes
CityLos Angeles
Community FeaturesCurbs, Park, StormDrains
ContingencySUBJECT T0 1031 XCHANGE
CountyLos Angeles
Days on Market90
DirectionsSouth of Imperial West of Normandie
Electric On Property Y/NNo
Entry LocationAbove Grade Finished Area
Facing DirectionSouth
Garage Spaces0.0
Garage Y/NNo
Gross Income295056.0
Home Owner AssocNo
Home Warranty Y/NNo
Insurance Expense8607.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
Lot Size Square Feet17287.0
Lot Size UnitsSquareFeet
MLS AreaC34 - Los Angeles Southwest
MobileHomeRemainsYNNo
Net Operating Income189662.0
New ConstructionNo
Number of Units Leased16
NumberOfUnitsTotal16
Operating Expense99638.0
Pool FeaturesNone
Private PoolNo
Property Sub Type AdditionalApartment
Property SubTypeApartment
Property TypeResidentialIncome
Rent Control Y/NYes
RoofFlat
Senior Community Y/NNo
SewerPrivateSewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Tax Lot89
Tenant PaysElectricity, Gas
TermsCash, CashToExistingLoan, CashToNewLoan, Exchange1031
Total Actual Rent295056.0
Trash Expense0.0
View Y/NNo
Water Sewer Expense8400.0
Waterfront Y/NNo
Year Built1965
Year Built SourceAssessor
ZoningLCR2*
Exterior for 1515 W 103rd Street
Building Area Total12752.0
Crops Included Y/NNo
FencingWroughtIron
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesSixteenToTwentyUnitsAcre
Lot Size Acres0.3969
Lot Size Area17287.0
Lot Size SourceAssessor
Number of Buildings1
Number of Separate Electric Meters16
Number of Separate Gas Meters16
Number of Separate Water Meters0
Open Parking Y/NNo
Parking FeaturesCarport
SpaNo
Total Parking16.0
Additional Details
Price History
Stephen Pliaconis
Pliaconis Realty Group REALTOR® DRE 02015480