tomo logo

$2,595,000

Beds
8
sq ft
4,762

1951 W Martin Luther King Jr Blvd, Los Angeles, CA 90062

1951 W Martin Luther King Jr Blvd

Los Angeles, CA 90062

  • 49 days on market
1951 W. Martin Luther King Jr Boulevard is an 8-unit apartment complex in the Leimert Park neighborhood of Los Angeles. The property offers a diverse unit mix of four (4) studio units and four (4) two-bedroom units spread across 4,762 rentable square feet. Seven of the eight units have been completely remodeled with brand new electrical, plumbing and mechanical systems. The units are also sub-metered for gas, electric, and water which results in an extremely low utility expense profile for a new owner. The asset offers strong cash flow day-1 and approximately 14% rental upside.

Details

Property type

Lot size

8,912 sq ft

Price per sq ft

$545

Year built

1923

HOA

No

Price History

08/03/2024
CLAW

CLAW #23292833

Removed
$2,595,000
08/02/2024
CLAW

CLAW #23292833

Price change
$2,595,000
-10.36%
08/02/2024
CLAW

CLAW #23292833

Listed
$2,895,000
+11.56%

Schools & Community

Neighborhood: 

South Los Angeles

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Seller’s Loan History

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

Lender

Liberty Bank Na

Loan start date

November 2023

Original loan amount

$1,560,000

Est. remaining balance

Not provided

Interest rate

7.31%

Loan type

Commercial

Seller

Prosodos Holdings Ii Llc

Lender

Goldman Sachs Bank Usa

Loan start date

June 2018

Original loan amount

$1,112,400

Est. remaining balance

Not provided

Interest rate

4.55%

Loan type

Building or Construction Loan

Seller

Prosodos Holdings Ii Llc

Lender

Goldman Sachs Bank Usa

Loan start date

June 2018

Original loan amount

$1,112,400

Est. remaining balance

Not provided

Interest rate

4.55%

Loan type

Building or Construction Loan

Seller

Prosodos Holdings Ii Llc

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: 09/20/2024 at 5:25 AM

Listing updated: 08/13/2024 at 12:43 PM

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

MLS: CLAW #24423085

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