1975 Corning Street, Los Angeles, CA 90034
  • MLS#: SB25038847 ( Commercial/Residential )
  • Street Address: 1975 Corning Street
  • Viewed: 3
  • Price: $4,899,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1963
  • Bldg sqft: 0
  • Days On Market: 246
  • Additional Information
  • County: LOS ANGELES
  • City: Los Angeles
  • Zipcode: 90034
  • Provided by: Lyon Stahl Investment Real Estate, Inc.
  • Contact: Larson Larson
  • California Regional MLS IDX
  • DMCA Notice
  • Description
    We are pleased to present 1975 S Corning St, Los Angeles. This courtyard style building consists of 12,816 sq ft with on site laundry, nine (9) carports in the rear, and four (4) tandem carports in the front. At a competitive cost/unit of $326,600 the subject property boasts a desirable unit mix of 60% 3 bedroom & 2 bedroom units and 40% 1 bedroom units. Current ownership has completed the required soft story retrofit and the asset will be delivered with new electrical panels. Twelve of the fifteen units have been upgraded in recent years and there is still approximately 30% in upside rent potential achievable through organic turnover or tenant buyouts. With ample carport parking spaces, investors have the ability to build three (3) ADUs by right (buyer to verify). Located north of the 10 Freeway in La Cienega Heights, the property is adjacent to Palms, Culver City, and Beverly Hills. This pride of ownership asset offers value add potential, capital appreciation, and stability in one of the Westsides strongest rental markets.
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Features
Building Area Total
  1. 12816.00
Carport Spaces
  1. 11.00
Commoninterest
  1. None
Common Walls
  1. 2+ Common Walls
Cooling
  1. None
Country
  1. US
Days On Market
  1. 55
Electric Expense
  1. 1400.00
Entry Location
  1. Front
Fireplace Features
  1. None
Fuel Expense
  1. 400.00
Garage Spaces
  1. 0.00
Gardner Expense
  1. 1200.00
Heating
  1. Wall Furnace
Insurance Expense
  1. 16020.00
Laundry Features
  1. Common Area
Laundry Income
  1. 316.00
Levels
  1. Two
Lot Features
  1. Lawn
  2. Lot 10000-19999 Sqft
Netoperatingincome
  1. 240075.00
Newtaxesexpense
  1. 60742.00
Number Of Separate Electric Meters
  1. 15
Number Of Separate Gas Meters
  1. 15
Parcel Number
  1. 4302028035
Parking Features
  1. Carport
Pest Control Expense
  1. 1045.00
Pool Features
  1. None
Professionalmanagementexpense
  1. 19237.00
Property Type
  1. Commercial/Residential
Sewer
  1. Public Sewer
Sourcesystemid
  1. CRM
Sourcesystemkey
  1. 432671147:CRM
Totalactualrent
  1. 31745.00
Totalexpenses
  1. 133115.00
Trash Expense
  1. 9750.00
Vacancyallowance
  1. 11542
Water Sewer Expense
  1. 10000.00
Water Source
  1. Public
Year Built
  1. 1963
Year Built Source
  1. Assessor
Zoning
  1. LARD2