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$2,310,000
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Property Description
We are pleased to present 1144 Elden, a 12-unit property not subject to LA City rent control. Built in 1986, this property currently allows an annual rent increase of 8.8% (5% plus the Consumer Price Index). Please note, the property is located in an opportunity zone, offering the new owner a potential federal capital gains tax incentive (buyer to verify). Comprised of (6) 2-bdrm. and 1.5-bath units and (6) 1-bdrm. units, these units offer approx. 34% rental upside compared to renovated units in the area. Property amenities include on-grade gated parking and a laundry room. 1144 Elden is offered at $307 per foot, $250,000 per unit, 9.42 market GRM, and 7.19% market CAP. Located just south of Koreatown, near Olympic and Vermont, the property is surrounded by many multifamily and mixed-use projects currently under construction or recently completed. Across the street from the subject property is a Grubb Properties project spanning a city block, featuring 228 units and 50,000 SF of commercial space (ground floor leased by Target).
Full Property Details
Full Property Details for 1144 Elden Ave
General
- Sold For: $2,310,000
- Status: Closed
- Type: Multi-Family
- Source: CLAW
- MLS ID: 23-293115
- Added to Site: 1, 100 day(s) ago
Rooms
Bathrooms
- Total Bathrooms: 15
Bedrooms
- Total Bedrooms: 18
Other Rooms
- Laundry: Garage, Community
Additional Information
- Security/Safety: Gated
- Other Features: None
Parking
- Garage Description: Gated, Garage
Location
- Area: Mid-Wilshire
- County: Los Angeles
- Cross Streets: West 11th St. and Elden Ave.
- Driving Directions: Located two blocks east and two block south of Olympic Blvd. and Vermont Ave.
- Direction Faces: West
Heating & Cooling
- Cooling Type: Central
- Heating Type: Central
Structural Information
- # Buildings: 1
- Common Walls: Attached
- Stories/Levels: 3
- Square Feet: 9,758
- Sq. Ft. Source: Vendor Enhanced
- Year Built: 1986
- Year Built Source: Vendor Enhanced
- Other Struct. Feat.: Balcony
Unit Information
- Units in Complex: 12
- Unit Type: 2106, 2107
Unit 1
- Total Bathrooms: 1.5
- Bedrooms: 2
Unit 2
- Total Bathrooms: 1
- Bedrooms: 1
Additional Structures
- Other Structures: None
Lot Features
- Lot Size (Acres): 0.1607
- Lot Size: 7000
- Lot Size Source: Other
- Alley: Yes
- Lot Features: Alley Access
- Zoning: LAR3
Financial Considerations
- Price Per Sq. Ft.: $307.44
- Assessment Year: 1986
Disclosures and Reports
- Disclosures/Reports: As Is
- APN: 5076-012-008
Listed by Compass, Kenny Stevens and Christie's AKG, Matthew Hoult
Sold by Compass, Kenny Stevens
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Schools
Schools serving 1144 Elden Ave
School District:Los Angeles Unified School District
| Name | Grades | Distance |
|---|---|---|
Leo Politi Elementary School 2481 West 11th Street, Los Angeles, CA 90006 | K-5 | 0.1 mi |
Berendo Middle School 1157 South Berendo Street, Los Angeles, CA 90006 | 6-8 | 0.4 mi |
Belmont Senior High School 1575 West 2nd Street, Los Angeles, CA 90026 | 9-12 | 1.6 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 1144 Elden Ave
Date
Details
Price
Change
Source
6/18/2024
Sold
$2,310,000
-23%
MLS
7/21/2023
Listed
$3,000,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
1144 Elden Ave, Los Angeles, CA 90006 (MLS# 23-293115) is a Multi-Family property that was sold at $2,310,000 on June 18, 2024. Want to learn more about 1144 Elden Ave? Do you have questions about finding other Multi-Family real estate for sale in Mid-Wilshire? You can browse all Mid-Wilshire real estate or contact a Coldwell Banker agent to request more information.

