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$3,198,000

Beds
Unknown
sq ft
10,218

343 S Occidental Blvd, Los Angeles, CA 90057

343 S Occidental Blvd

Los Angeles, CA 90057

  • 183 days on market
18 unit low rise garden style apartment building for sale with tremendous upside of 53% to peak proforma in one of the few remaining pockets in Los Angeles that hasn't seen big growth...yet. A short drive off the 101 and the Silver Lake Blvd exit is 343 S Occidental Blvd. The location is Silver Lake a few blocks to the north and Koreatown a few blocks to the east. 10 of the units are one bed one bath, 8 are studios. Rents were last raised February 2024. Current rents are $18,936/mo ($227,236/yr). Highest 1 bed unit is $1700/mo. Highest studio is $1500/mo. February 2025 rents at 4% increase gets to a 4.8 cap & 13.5 GRM. Proforma rents indicate $29,000/mo or ($348,000/yr) at 8.3 cap & 9.2 GRM. All units are occupied and rents are current. Laundry is on site. There are 13 parking spaces with the potential to add more. Soft story retrofit completed in 2019.

Details

Property type

Est. home value

$1,438,467

Lot size

0.2811 acres

Price per sq ft

$313

Year built

1949

HOA

No

Price History

06/25/2024
CLAW

CLAW #24406887

Listed
$3,198,000
+287.64%
09/08/2017
CRMLS

CRMLS #316009653

Sold
$825,000

Schools & Community

Neighborhood: 

Westlake

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

$1,969,852
Asking price
$3,198,000
Closing costs (~8% of asking)
-$255,840
Est. remaining loan balance
-$972,308
Cash to seller
$1,969,852

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

Seller’s Loan History

Lender

Calculated Risk Analytics Llc

Loan start date

July 2021

Original loan amount

$1,050,000

Est. remaining balance

$972,308

Interest rate

3%

Loan type

New Conventional, 30 year

Seller

Danny Aghaee

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: 12/26/2024 at 9:20 AM

Listing updated: 12/04/2024 at 6:40 PM

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

MLS: CLAW #24406887

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