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$1,800,000

Beds
12
sq ft
4,116

831 N Heliotrope Dr, Los Angeles, CA 90029

831 N Heliotrope Dr

Los Angeles, CA 90029

  • 40 days on market
GREAT INVESTMENT OPPORTUNITY! This REO multifamily is located in the East Hollywood neighborhood of Los Angeles. The property has renovated furnished units while being walking distance from the Metro Line across from LA City College. There is also easy 101 Freeway access for travel. Originally built in 1921 as a 4-unit multi-family structure, the building has undergone renovations (without city permits) that added 4 additional units, bringing the total to 8 units. The two original ground floor units have been converted into four units, while the covered garage spaces have been converted into two units. The renovated units are a mixture of (2) studio, (2) 1 bedroom + den, and (4) 2 bedroom units. 75% of the units are furnished and vacant, ready for a new owner to come and work their magic.

Details

Property type

Lot size

6,251 sq ft

Price per sq ft

$438

Year built

1921

HOA

No

Price History

10/10/2024
CLAW

CLAW #24451451

Listed
$1,800,000
+20%
08/31/2021
CLAW

CLAW #21759480

Sold
$1,500,000

Schools & Community

Neighborhood: 

Hollywood

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

Real Value Properties Ii Llc

Loan start date

May 2022

Original loan amount

$3,123,000

Est. remaining balance

Not provided

Interest rate

4.16%

Loan type

Building or Construction Loan, 1 year

Seller

Raymond Brown

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: 11/20/2024 at 6:15 AM

Listing updated: 10/29/2024 at 2:10 PM

Listed by: Alvin Scioneaux, Lee & Associates Investments Services Group Inc Phone #: (213) 623-0800

MLS: CLAW #24451451

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