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    1459 Federal Ave

    Los Angeles, CA 90025
    • $1,300,000
    • STATUS: Active
    • ON SITE: 72 days
    • MLS #: 21-762072
    $1,300,000
    • 4
      BEDS
    • 0.1
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 2,029
      SQFT
    • $641
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1926
    County:
    Area:

    School Ratings & Info

    Description

    This property can be sold separately or together with 11601 Ohio Ave for $1,050,000 (APN 4263-019-008), which is a total of $2,350,000. Federal on it's own is a triplex with one nonconforming unit. It has a two bedroom above two garages and Spanish Duplex on the lot. This is a 19.61 GRM on its own and an estimated 2.9% Cap Rate. The two properties can also be assembled together, either as a value-add or possible development opportunity. On one APN (4263-019-008) is 11601 Ohio Ave a SFR that does not fall under Los Angeles rent Control. On the other APN (4263-019-009) is a triplex. The building square footage totals 2,845sq. ft. and the lot totals 7,595 sq. ft. The properties also have alley access. The assemblage GRM is 25.49 and 1.9% CAP Rate. This allows a savvy developer to push the setbacks and maximize square footage for 9 units by right or 14 units with the state density bonus. As of the new update with AB 2345, a developer can increase the upper limit of the density bonus to 50% for housing projects with 15% units designated to very low income units, 24% to lower income units or 44% moderate income units. Buyer to verify all information, 1459 Federal Ave is 4 units under housing but shows 3 units on title. DRIVE BY ONLY! DO NOT DISTURB TENANTS!

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-09-26T23:42:28.45. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
    www.jelmbergteam.com/homes/119418567
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    1459 Federal Ave Los Angeles, CA 90025

    • Price: $1,300,000
    • Status: Active
    • MLS #: 21-762072
    4
    Beds
    0
    Baths
    0
    ½ Baths
    0.1
    Acres
    2,029
    SQFT
    $641
    $/SQFT
    1926
    Built
    Neighborhood:
    West L.A.
    County:
    Los Angeles
    Area:
    West L.A.
    Property Description
    This property can be sold separately or together with 11601 Ohio Ave for $1,050,000 (APN 4263-019-008), which is a total of $2,350,000. Federal on it's own is a triplex with one nonconforming unit. It has a two bedroom above two garages and Spanish Duplex on the lot. This is a 19.61 GRM on its own and an estimated 2.9% Cap Rate. The two properties can also be assembled together, either as a value-add or possible development opportunity. On one APN (4263-019-008) is 11601 Ohio Ave a SFR that does not fall under Los Angeles rent Control. On the other APN (4263-019-009) is a triplex. The building square footage totals 2,845sq. ft. and the lot totals 7,595 sq. ft. The properties also have alley access. The assemblage GRM is 25.49 and 1.9% CAP Rate. This allows a savvy developer to push the setbacks and maximize square footage for 9 units by right or 14 units with the state density bonus. As of the new update with AB 2345, a developer can increase the upper limit of the density bonus to 50% for housing projects with 15% units designated to very low income units, 24% to lower income units or 44% moderate income units. Buyer to verify all information, 1459 Federal Ave is 4 units under housing but shows 3 units on title. DRIVE BY ONLY! DO NOT DISTURB TENANTS!
    Exterior Features

    Cross Streets Ohio Ave. Lot Size Area 4272 Other Structures None Parking Garage Garage Total Parking 2

    Interior Features

    Baths Total 4.00 Cooling None Equipment None Heating None

    Property Features

    Assessed Total Value 497586 Gross Income 66127 Gross Operating Income 66127 Like Units1 1 Like Units2 2 Like Units3 1 Net Operating Income 38286.00 Number Of Buildings 2 Number Of Units 4 Owner Pays Water Sale Type Standard Source Living Area Assessor Source Lot Size Area Assessor Tenant Pays GasElectricity Total Annual Expense 27990 Type Of Units Residential Year Built Source Vendor Enhanced Zoning Lar3

    Listing provided courtesy of Michael R. Fukushima DRE#01380445 of Keller Williams Downtown La.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-09-26T23:42:28.45. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
     
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    The Jelmberg Team | Keller Williams
    39-575 Washington Street, Suite #105
    Palm Desert CA, 92211