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1218 Arapahoe St, Los Angeles, California 90006, Los Angeles, 90006 - bed, bath

1218 Arapahoe St, Los Angeles, California 90006 home-pic-0
ACTIVE$4,997,000
1218 Arapahoe St, Los Angeles, California 90006
0Bed
0Bath
10,314Sqft
7,250Lot
Year Built
2022
Close
-
List price
$5M
Original List price
$5M
Price/Sqft
$484
HOA
-
Days on market
-
Sold On
-
MLS number
DW25108670
Home ConditionExcellent
Features
Good View: City Lights, Hills, Neighborhood
ViewCity Lights,Hills,Neighborhood

About this home

We found 3 Cons,5 Pros. Rank: price - $5.00M(50th), sqft - 10314(50th), beds - undefined(50th), baths - undefined(50th).

1214, 1214 1/2, 1216, 1216 1/2 & 1218 Arapahoe St, Los Angeles CA 90006 Presenting a Clean Modern look 2022 NEW CONSTRUCTION 5 Unit Property. Option For Sale or Lease Don’t miss out on this Huge Discount. Priced to go. Similar Project Appraised at $5,870,000. Similar project located just 1 Street away, same builder, same Bedroom & Bathroom count, with approx. 1,553 sqft less than 1218 Arapahoe St. Sales prices gives the Buyer a great opportunity to a good amount of equity. If not buying you can Rent the whole property or rent a unit privately, where everything in the unit is private to you. There's (1) unit 7 bedrooms and 6 bathrooms, (2) units of 7 bedrooms and 7 bathrooms, (2)units of 5 bedrooms and 5 bathrooms OR you can Rent per room, where Bedroom and Bath would be private; Common spaces like Kitchen and Laundry would be shared. This project is located in a hot rental area. Location, location, location! Property has little to no maintenance; super convenient for the owner. A perfect co living investment property that when leased would bring in a Pro forma Cap rate of 7.433%. Property’s breakdown is the following: 1(FRONT, SingleFamilyResidence) Unit is 7 BED, 6 BATH. (MIDDLE Duplex-mirrored units) is 7 BED, 7 BATH X2 (REAR Duplex-mirrored units) is 5 BED, 5 BATH X2 Total of 31 Bedrooms and 30 Bathrooms All units are Quad-Level & separately metered for each utility service. This property is rare to find, making it a hot commodity! Buyer(s) to independently verify all information on this listing. Listing agent is not liable for any information that turns out incorrect. The accuracy of all information, regardless of source, including but not limited to square footages, lot sizes, income, and expenses, is deemed reliable but not guaranteed.

Nearby schools

3/10
Leo Politi Elementary School
Public,•K-5•0.2mi
3/10
Magnolia Avenue Elementary School
Public,•K-6•0.4mi
8/10
Hoover Street Elementary School
Public,•K-5•0.6mi
2/10
Tenth Street Elementary School
Public,•K-5•0.7mi
3/10
Macarthur Park Elementary School For The Visual And Performing Arts
Public,•K-5•0.7mi
/10
Mariposa-Nabi Primary Center
Public,•K-2•0.9mi
3/10
Rfk Community Schools - Ambassador School - Global Education
Public,•K-5•1.0mi
4/10
Norwood Street Elementary School
Public,•K-5•1.0mi
3/10
Los Angeles Elementary School
Public,•K-5•1.2mi
3/10
Hobart Boulevard Elementary School
Public,•K-5•1.2mi
5/10
Vermont Avenue Elementary School
Public,•K-5•1.3mi
2/10
Twenty-Fourth Street Elementary School
Public,•K-5•1.8mi
6/10
Carson-Gore Academy Of Enviornmental Studies
Public,•K-5•2.0mi
3/10
Berendo Middle School
Public,•6-8•0.5mi
3/10
John H. Liechty Middle School
Public,•6-8•1.0mi
5/10
Pio Pico Middle School
Public,•6-8•1.9mi
4/10
John Adams Middle School
Public,•6-8•1.9mi
3/10
Johnnie Cochran, Jr., Middle School
Public,•6-8•2.5mi
4/10
West Adams Preparatory High School
Public,•9-12•0.6mi
3/10
Rfk Community Schools-Ambassador-Global Leadership
Public,•6-12•1.0mi
4/10
Rfk Community Schools-Los Angeles High School Of The Arts
Public,•9-12•1.0mi
5/10
Rfk Community Schools- For The Visual Arts And Humanities
Public,•9-12•1.0mi
3/10
Belmont Senior High School
Public,•9-12•1.5mi
5/10
Santee Education Complex
Public,•9-12•1.9mi
5/10
Foshay Learning Center
Public,•K-12•2.4mi
3/10
Nava College Preparatory Academy
Public,•9-12•3.3mi

Price History

Date
Event
Price
09/30/20
Sold
$1,103,000
Condition Rating
Excellent
This property is a new construction built in 2022, explicitly stated in the listing description. The images confirm a clean, modern aesthetic throughout, with new stainless steel appliances, contemporary two-tone cabinetry, and modern countertops in the kitchens. Bathrooms feature new fixtures, subway tile showers with glass enclosures, and modern flooring. All components appear virtually new, meeting current quality standards with no deferred maintenance, aligning perfectly with the 'Excellent' condition criteria.
Pros & Cons

Pros

New Construction & Modern Design: Built in 2022, this property offers a clean, modern aesthetic and the benefits of new construction, implying minimal immediate maintenance and contemporary living spaces.
Exceptional Investment Potential: The property boasts a pro forma Cap Rate of 7.433% and is priced to offer significant equity opportunity compared to a similar, recently appraised project nearby, making it an attractive investment.
High Unit & Bedroom/Bathroom Count: Comprising 5 units with a total of 31 bedrooms and 30 bathrooms, this property is uniquely configured for high-density rental, co-living, or multi-generational housing, maximizing rental income potential.
Prime Rental Location: Situated in Koreatown, Los Angeles, the property is in a 'hot rental area' known for strong tenant demand, ensuring consistent occupancy and rental income.
Separately Metered Utilities: All units are separately metered for each utility service, which simplifies property management and shifts utility costs directly to tenants, enhancing profitability.

Cons

Mixed School Ratings: Several nearby public schools have lower ratings (2-3 out of 10), which could be a deterrent for families with school-aged children seeking highly-rated educational options.
Niche Investment Model: The property's specialized co-living/high-density rental model, while profitable for the right investor, may appeal to a narrower buyer pool compared to traditional multi-family or single-family residences.
Potential for High Tenant Turnover & Management Complexity: A property with 31 bedrooms and a co-living focus can inherently lead to higher tenant turnover and more intensive property management requirements, potentially increasing operational costs and effort.

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