We are excited to present 1322 Maryland St, a 100% affordable, RTI (Ready-to-Issue) development project to build 121 units located in the Westlake neighborhood of Los Angeles, which is just a few minutes South of Echo Park and West of Downtown.The project consists of 119 one-bedroom units, 2 two-bedroom units, and 8 stories. The building is made up of 5 stories of Type III-A over 3 levels of Type I-A, and there are no parking requirements. This will help reduce both the time and cost to build. The developer has the option to rent to Section 8 tenants, which could result in higher rents.Upon completion, the building is projected to generate $230,603 per month, amounting to $2,767,236 annually, from the scheduled covenant rents. If all units are rented to Section 8 tenants, the monthly revenue is expected to increase to $292,130, resulting in an annual income of $3,505,560.The offering is located in Central Los Angeles and combines residential and commercial living. It is surrounded by Silver Lake to the north, Downtown to the southeast, and Pico-Union to the southwest, with Koreatown to the west. The area has a rich history, having developed primarily in the 1920s. The area has since undergone a transformation, with many of its historic mansions now converted into apartments. As a result of high demand for housing in this dynamic and ever evolving part of the city, new multi-family buildings have been constructed.
Property Details
Property Features
Listing Office:
Office Name: Marcus & Millichap
Office Phone: (818) 212-2700
Listing Agent: Filip Niculete
Exterior Features
Exterior Information:
View: None
Lot Features
Lot Information:
Lot Size: 0.19 Acres
School Info
Assigned Schools Information:
Contreras Learning Center-Academic Leadership Community, Public District Grades 9-12
Contreras Learning Center-Los Angeles School of Global St, Public District Grades 9-12
Contreras Learning Center-School of Social Justice, Public District Grades 9-12
John H. Liechty Middle School, Public District Grades 6-8
Studio, Public District Grades 6-8
Gratts Learning Academy For Young Scholars (Glays), Public District Grades KG-6
Melrose Avenue Elementary School, Public Magnet Grades KG-6
Point Fermin Elementary School, Public Magnet Grades KG-5
Other
Directions Information:
Directions: Maryland & Bixel
Price Information
Listing Price Info
Price Summary:
List Price: $5,200,000
Tax Information:
Annual Amount: $23,009
Tax Year: 2021
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Housing Market Comparison
See how this home compares to others in Los Angeles, CA.
This property is $4.2M more than the Median Sold Price in Los Angeles, CA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: CRMLS
MLS Number: #24394763
Listing Office:
Office Name: Marcus & Millichap
Office Phone: (818) 212-2700
Listing Agent: Filip Niculete
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last updated on: 6/3/2024, 1:20:45 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
Listing History
DATE
EVENT
PRICE
May 24, 2019
May 24, 2019Home Sold
$1,880,000
Oct 02, 2015
Oct 02, 2015Home Sold
$2,050,000
Aug 22, 2007
Aug 22, 2007Home Sold
$950,000
Nov 04, 2004
Nov 04, 2004Home Sold
$630,000
May 05, 1997
May 05, 1997Home Sold
$175,000
May 05, 1997
May 05, 1997Home Sold
$280,000
Tax History
YEAR
PROP. TAX
ASSESSMENT
2021
$23,009
$1,899,996
2020
$26,227
$1,880,000
2019
$26,056
$2,175,474
2018
$25,494
$2,132,819
2017
$25,494
$2,091,000
History based on county public records data.
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
Elementary School
4
/10
Gratts Learning Academy For Young Scholars (Glays)
309 Lucas Ave
Distance between this listing and this school0.18 miles
Public District Grades KG-6
9
/10
Melrose Avenue Elementary School
731 N Detroit St
Distance between this listing and this school5.17 miles
Public Magnet Grades KG-6
6
/10
Point Fermin Elementary School
3333 S Kerckhoff Ave
Distance between this listing and this school23.67 miles
Public Magnet Grades KG-5
Middle School
4
/10
John H. Liechty Middle School
650 S Union Ave
Distance between this listing and this school0.45 miles
Public District Grades 6-8
4
/10
Studio
2211 W Avenue 30
Distance between this listing and this school3.66 miles
Public District Grades 6-8
High School
3
/10
Contreras Learning Center-Academic Leadership Community
322 Lucas Ave
Distance between this listing and this school0.14 miles
Public District Grades 9-12
2
/10
Contreras Learning Center-Los Angeles School of Global St
322 Lucas Ave
Distance between this listing and this school0.14 miles
Public District Grades 9-12
3
/10
Contreras Learning Center-School of Social Justice
322 Lucas Ave
Distance between this listing and this school0.14 miles
Public District Grades 9-12
Assigned Schools
4
/10
Gratts Learning Academy For Young Scholars (Glays)
309 Lucas Ave
Distance between this listing and this school0.18 miles
Public District Grades KG-6
9
/10
Melrose Avenue Elementary School
731 N Detroit St
Distance between this listing and this school5.17 miles
Public Magnet Grades KG-6
6
/10
Point Fermin Elementary School
3333 S Kerckhoff Ave
Distance between this listing and this school23.67 miles
Public Magnet Grades KG-5
Assigned Schools
4
/10
John H. Liechty Middle School
650 S Union Ave
Distance between this listing and this school0.45 miles
Public District Grades 6-8
4
/10
Studio
2211 W Avenue 30
Distance between this listing and this school3.66 miles
Public District Grades 6-8
Nearby Schools
6
/10
Equitas Academy Charter #2
1215 Miramar St
Distance between this listing and this school0.26 miles
Public Charter Grades 5-8
Assigned Schools
3
/10
Contreras Learning Center-Academic Leadership Community
322 Lucas Ave
Distance between this listing and this school0.14 miles
Public District Grades 9-12
2
/10
Contreras Learning Center-Los Angeles School of Global St
322 Lucas Ave
Distance between this listing and this school0.14 miles
Public District Grades 9-12
3
/10
Contreras Learning Center-School of Social Justice
322 Lucas Ave
Distance between this listing and this school0.14 miles
The neighbors living near this home have an average income of $26,795. The most common annual income of people living in Los Angeles, CA is less than $35k. Most families are single, no kids. Most residents in this area have post secondary degree education.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 1322 Maryland St
What is the listing price of this property?
The listing price of 1322 Maryland St property is $5,200,000.
What type of property is this?
The property 1322 Maryland St is land located in Los Angeles, California, 90017.
Is this property for sale now?
Active Listing: 1322 Maryland St is For Sale (Active/New) which means the seller is accepting offers.
What are the assigned schools for this property?
The assigned schools for 1322 Maryland St are: Gratts Learning Academy For Young Scholars (Glays): GreatSchools Rating 4/10Melrose Avenue Elementary School: GreatSchools Rating 9/10Point Fermin Elementary School: GreatSchools Rating 6/10John H. Liechty Middle School: GreatSchools Rating 4/10Studio: GreatSchools Rating 4/10Contreras Learning Center-Academic Leadership Community: GreatSchools Rating 3/10Contreras Learning Center-Los Angeles School of Global St: GreatSchools Rating 2/10Contreras Learning Center-School of Social Justice: GreatSchools Rating 3/10
What is the annual property tax for this property?
According to the records, the last property tax for 2021 is $23,009 (source: MLS/based on county public records data).
When was this property sold last time and for how much?
The last sale was on May 24, 2019 for $1,880,000. (source: MLS/tax record).
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This home is located at 1322 Maryland St in Los Angeles, CA and zip code 90017 in the Central LA neighborhood. This home sits on a 0.19 acre lot. It has been listed on Rocket Homes since May 21, 2024 and is currently priced at $5,200,000.
In May 2024, from all listings sold in Los Angeles, CA there were more than 766 sold above asking price, over 625 sold below and more than 198 were sold right at the asked price. The inventory of homes for sale in Los Angeles, CA between April 2024 and May 2024 increased by 15.4%. The median list price of listings available in May 2024 was $995,939, while the average time on the real estate market was 33 days.
From Rocket Homes Real Estate and based on county public records data.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. 
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