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$1,949,000

Beds
7
sq ft
2,275

1192 Exposition Blvd, Los Angeles, CA 90007

1192 Exposition Blvd

Los Angeles, CA 90007

  • 31 days on market
3 of 4 units are vacant at the completely remodeled Bungalows on Exposition ready to get market student housing rates. Many buildings in the area get $1500/mo rent per bedroom making the total projected rents $10,900/mo. 3 of the units are en-suite 2 beds 2 baths with projected rents at $9,000/mo. One unit is 1 bed 1 bath with a projected rent of $1900/mo. The very large garage in the back is a 3 bedroom ADU potential. The building is 2 short blocks from USC, the Expo/Vermont Metro Station, and the all new Lucas Museum of Narrative Art at Exposition Park opening in 2025. The museum is on 11 acres with 100,000 SF of restaurants, retail, and two state-of-the-art theaters. Look it up! These are 3 exceptional points of attraction for an investor. The building is bungalow style completely remodel in 2019 with new kitchens, bathrooms, flooring, central air & heat, security systems, concrete, and more. Washer/Dryer inside each unit. Designed for USC students looking for a quiet smaller building where security & cleanliness is important. Plenty of parking. Many buildings in the area charge for parking spots. Front patio for hanging out or grilling. Environmentally conscious materials & low maintenance landscaping. There's a security gate in the front & the perimeter is fenced. The complex is well lighted for safety. Students typically have guarantors, stipends from student loans, and the rental agreements are for one full calendar year.

Details

Property type

Est. home value

$2,350,426

Lot size

6,660 sq ft

Price per sq ft

$857

Year built

1931

HOA

No

Price History

11/21/2024
CLAW

CLAW #24465909

Listed
$1,949,000
+137.68%
05/10/2019
CLAW

CLAW #18356778

Sold
$820,000

Schools & Community

Neighborhood: 

South Los Angeles

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$936,895
Asking price
$1,949,000
Closing costs (~8% of asking)
-$155,920
Est. remaining loan balance
-$856,185
Cash to seller
$936,895

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

Bank Of America Na

Loan start date

January 2020

Original loan amount

$950,000

Est. remaining balance

$856,185

Interest rate

3.66%

Loan type

New Conventional, 30 year

Seller

Kenneth J Drachnik and Elizabeth A Drachnik

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 12/23/2024 at 10:20 AM

Listing updated: 12/15/2024 at 2:30 PM

Listed by: Aram Gaboudian, Keller Williams Downtown LA Phone #: (213) 797-7000

MLS: CLAW #24465909

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