Los Angeles, CA 90034 1975 S Corning Street
$4,899,000
14 more
Presented By: Larson Harley with Lyon Stahl Investment Real Estate, Inc.; 949-933-1112
Beds • 6
Baths • 1
SQFT • 12,816
Year Built • 1963
Home Details
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) ADU’s 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 Westside’s strongest rental markets.
Presented By: Larson Harley with Lyon Stahl Investment Real Estate, Inc.; 949-933-1112
Interior Features for 1975 S Corning Street
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsTwoCommonWallsOrMore
Fireplace FeaturesNone
Fireplace Y/NNo
Heating Y/NYes
Laundry FeaturesCommonArea
Total Stories2
Other Rooms
Entry Level1
General for 1975 S Corning Street
Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate4.9
Carport Spaces11.0
Carport Y/NYes
CityLos Angeles
Community FeaturesCurbs, Sidewalks
CoolingNone
CountyLos Angeles
DirectionsWest of La Cienega, off Guthrie Avenue.
Electric Expense1400.0
Electric On Property Y/NNo
Entry LocationFront
Fuel Expense400.0
Garage Spaces0.0
Garage Y/NNo
Gross Income384732.0
HOANo
HeatingWallFurnace
Home Warranty Y/NNo
Insurance Expense16020.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsCashToNewLoan
Lot Size Square Feet12612.0
Lot Size UnitsSquareFeet
MLS AreaC09 - Beverlywood Vicinity
MaintenanceExpense11250.0
MobileHomeRemainsYNNo
Net Operating Income240075.0
New ConstructionNo
Number Of Units Total15
Number of Units Leased15
Operating Expense133115.0
Pool FeaturesNone
Property Attached Y/NYes
Property Sub Type AdditionalMixedUse
Property SubtypeMixedUse
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
Tax Lot268
Taxes$60,742
Total Actual Rent31745.0
Trash Expense9750.0
Water Sewer Expense10000.0
Year Built1963
Year Built SourceAssessor
ZoningLARD2
Exterior for 1975 S Corning Street
Building Area Total12816.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesLawn
Lot Size Acres0.2895
Lot Size Area12612.0
Lot Size SourceAssessor
Number of Buildings1
Number of Separate Electric Meters15
Number of Separate Gas Meters15
Number of Separate Water Meters1
Open Parking Y/NNo
Parking FeaturesCarport
Private PoolNo
SpaNo
Total Parking11.0
Water SourcePublic
WaterfrontY/NNo
Additional Details
Price History
Justin Hughey
Price
$4,899,000
MLS#SB25038847
List Date
02/21/2025
Property Type
Multi-Family
Phone
(562) 818-1655
