Property profile & analytics
1609 Oak St Los Angeles, CA 90015-3219
- Apartment buildings
- 5,518 SF
- 0.11 lot acres
OFF-MARKET
Last Sale
Oct 31, 2024
Oct 31, 2024
$800,000
Value Estimations
Cap Rate Potential
Location Intelligence
Property ID
US09-8266137
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Current Use by Public Records
- Apartment buildings
Property Details for 1609 Oak St
- Year built
- 1922
- Construction
- WOOD
- Lot size
- 0.11 lot acres
- Property size
- 5,518 SF
- Zone code
- LAM1
- Property type
- Apartment buildings
- APN
- 5135-028-014
- APU
- 5135028014
Description
This 6-unit apartment building, located at 1609 Oak Street in Los Angeles, CA 90015, presents a compelling value-add investment opportunity. The property, built in 1922, comprises 5,518 square feet on a 4,745 square foot lot and features two studios and four one-bedroom units. Currently generating a NOI of $45,108, with a cap rate of 4.96%, the property offers significant upside potential. A pro-forma NOI of $76,778 and a pro-forma cap rate of 8.44% illustrate the potential for increased profitability through renovations. The asking price is $910,000, translating to $164.91 per square foot and $151,666.67 per unit. The property benefits from its location in a designated Opportunity Zone, potentially offering preferential tax treatment. Situated west of the 110 Freeway and south of Venice Boulevard, it's approximately 0.9 miles from LA Live and Crypto.com Arena, with a Walk Score of 78. Its proximity to major venues for the 2028 Summer Olympics, including the LA Memorial Coliseum, Crypto.com Arena, and BMO Stadium, further enhances its long-term prospects. The property is zoned LAM1 and has been family-owned and operated for the past 11 years. The existing units offer a 40% rental upside through interior renovations, making this an ideal investment for those seeking to capitalize on the westward expansion and revitalization of the Downtown Los Angeles submarket.
Value Estimations
based on Realmo’s proprietary methodology
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Los Angeles
- County
- Los Angeles
- State
- California
- Longitude
- -118.276
- Latitude
- 34.0397
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$10,722
$603,637
$233,001
$836,638
-
$0.00
$0.00
$0.00
