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7408 Elsie St, Los Angeles, CA, 90001

$900,000

Home List Price

$10,000*

Closing Credit

0 Baths
Condo

Location

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7408 Elsie St, Los Angeles$900,000

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Property Highlights

Home TypeCondominium
Year Built1926
HeatingCentral
MLS #SB24219230
Lot Size0.11 Acres
StatusActive

About 7408 Elsie St

5-Unit Turnkey property with extremely strong proven rents. 4 Studios averaging $1548/Month and a 2-Bed Unit rented at $1900/Month with gross rents at $97,104. The subject property is highlighted by a large lot where multiple ADUs are a possibility. Operating at 9.27 GRM and stabilizes at 7.40 GRM. The one story structure is wood frame stucco. The zoning for the lot is LCR3 situated on 4,718 SF. With the addition of ADUs, the cap rate will jump substantially north of a 10% cap rate. It's a perfect opportunity to acquire one of the strongest income deals in Los Angeles.

Property Details

Property Features

Property Information:

  • Year Built: 1926
  • Stories: 1

Listing Office:

  • Office Name: Lyon Stahl Investment Real Estate, Inc.
  • Office Phone: (310) 729-1559
  • Listing Agent: Aaron Jacobson

Exterior Features

Exterior Information:

  • Private Pool: No

Lot Features

Lot Information:

  • Lot Size: 0.11 Acres

Utilities

Utilities Information:

  • Heating: Central

Other

Directions Information:

  • Directions: South of Florence East of Hooper

Price Information

Listing Price Info

Price Summary:

  • List Price: $900,000

Tax Information:

  • Annual Amount: $12,605
  • Tax Year: 2021
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Housing Market Comparison

See how this home compares to others in Los Angeles, CA.

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Los Angeles, CA

City

Med. Sold Price

$1.0M

Med. Price/SqFt

$640

Avg. Days On Market

38

# of Sold Homes

1346

7408 Elsie St vs Los Angeles

55 DAYS ON ROCKET

+17 Days

$900,000

-$121.5K Less

KEY TAKEAWAY

This property is $121.5K less 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: #SB24219230

Listing Office:

  • Office Name: Lyon Stahl Investment Real Estate, Inc.
  • Office Phone: (310) 729-1559
  • Listing Agent: Aaron Jacobson

IDX 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: 12/18/2024, 4:20:57 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

Apr 23, 2020Home Sold
$2,175,000
Aug 17, 2017Home Sold
$456,500
Aug 25, 2014Home Sold
$190,000

Tax History

YEARPROP. TAXASSESSMENT
2021$12,605$757,770
2020$8,396$474,682
2019$8,253$465,375
2018$5,141$456,250
2017$5,141$196,754

History based on county public records data.

Payment Calculator

$4,559

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$2,765

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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.

Nearby Schools

school-card-donut-4395094
6
/10

  • Parmelee Elementary

  • 1338 E 76th Pl

  • 0.21 miles

  • Public District Grades KG-6

school-card-donut-4395095
4
/10

  • Wisdom Elementary School

  • 1125 E 74th St

  • 0.33 miles

  • Public District Grades PK-6

school-card-donut-4395096
4
/10

  • Miramonte Elementary School

  • 1400 E 68th St

  • 0.35 miles

  • Public District Grades KG-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $51,500. Most Los Angeles, CA residents have annual incomes between $35k-100k. Residents typically live in married, with kids family. Typical level of education for residents in this area is high school diploma.

All data provided by Home Junction and Claritas

Frequently Asked Questions About 7408 Elsie St

What is the listing price of this property?

The listing price of 7408 Elsie St property is $900,000.

What type of property is this?

The property 7408 Elsie St is a condo located in Los Angeles, California, 90001.

Is this property for sale now?

Active Listing: 7408 Elsie St is For Sale (Active/New) which means the seller is accepting offers.

What is the annual property tax for this property?

According to the records, the last property tax for 2021 is $12,605 (source: MLS/based on county public records data).

When was this property sold last time and for how much?

The last sale was on April 23, 2020 for $2,175,000. (source: MLS/tax record).

Which year was this property built?

The year of construction for 7408 Elsie St is 1926.

Rocket Homes›California›Los Angeles County›Los Angeles›90001›7408 Elsie St

This home is located at 7408 Elsie St in Los Angeles, CA and zip code 90001 in the South LA neighborhood. This home, which was built in 1926, sits on a 0.11 acre lot. It has been listed on Rocket Homes since October 23, 2024 and is currently priced at $900,000.

In November 2024, from all listings sold in Los Angeles, CA there were more than 512 sold above asking price, over 657 sold below and more than 177 were sold right at the asked price. The inventory of homes for sale in Los Angeles, CA between October 2024 and November 2024 decreased by 0.6%. In November 2024, listings were on the market for 38 days. During the same period, the median list price in this real estate market was $1,021,532.

From Rocket Homes Real Estate and based on county public records data.

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