PROBATE SALE – 6 UNITS – CHINATOWN – SUNDAY, NOVEMBER 18 @ 10:00 A.M.

PROBATE SALE

BY ORDER OF SUPERIOR COURT

6 UNITS  –  CHINATOWN  –  LOS ANGELES

SUNDAY, NOVEMBER 18 @ 10:00 A.M.

SALE AT SITE

BROCHURE #874

LOCATION:   830 BARTLETT STREET, LOS ANGELES, CA 90012  APN 5407-004-019

DIRECTIONS:   THOMAS GUIDE (L.A. COUNTY) P. 634, F-2. FIGUEROA STREET & CEASAR CHAVEZ AVE.  SHOW ME A MAP

DESCRIPTION:   2 STORY, 6 UNIT APARTMENT BUILDING IN THE CHINATOWN AREA OF DOWNTOWN LOS ANGELES. (1) 3 BEDROOM, 3 BATH UNIT & (5) 2 BEDROOM, 1 BATH UNITS. EACH UNIT HAS A LIVING ROOM AND KITCHEN. WALL HEATERS (UNITS 2,3,4,5,6). UNIT #1 HAS CENTRAL HEATING AND AIR CONDITIONING. 6 PARKING SPACES. SEPARATE GAS & ELECTRIC METERS. COMMON AREA COIN LAUNDRY. WASHER/DRYER INCLUDED IN SALE. OWNER PASSED AWAY IN UNIT #1. UNIT #1 UPSTAIRS BEDROOM HAS A SEPARATE ENTRANCE AND MAY HAVE BEEN USED AS A RENTAL WITHOUT PERMIT. BUYER TO VERIFY LEGALITY. BUILDING IS BEING SOLD SUBJECT TO L.A. CITY REQUIRED  SEISMIC RETROFIT. ALL REQUIRED SEISMIC RETROFIT TO BE DONE BY BUYER, AT BUYER’S EXPENSE, AFTER CLOSE OF ESCROW. BUYER SHOULD CONTACT L.A. CITY FOR REQUIRED RETROFITTING INFORMATION PRIOR TO BIDDING AT AUCTION. CITY ORDER TO COMPLY AVAILABLE UPON REQUEST. KNOWN LEASES AVAILABLE UPON REQUEST. GREAT CENTRAL LOCATION WITH UPSIDE POTENTIAL CLOSE TO SHOPPING AND ENTERTAINMENT. DO NOT DISTURB OCCUPANTS. PERSONAL PROPERTY NOT INCLUDED IN SALE.

MONTHLY INCOME:
UNIT 1  –  VACANT

UNIT 2  –  $610.

UNIT 3  –  $1,110.   LAST KNOWN INCREASE 9-1-18

UNIT 4  –  $815.  LAST KNOWN INCREASE 8-1-17. LEASE RENT ESCALATION EVERY 2 YEARS.

UNIT 5  –  $820.  LAST KNOWN INCREASE 7-1-18. LEASE RENT ESCALATION EVERY 2 YEARS.

UNIT 6  –  $926.  LAST KNOWN INCREASE 8-1-18.

LAUNDRY  –  $40. ±

APPROXIMATE MONTHLY EXPENSES:
WATER, SEWER, ELECTRICAL AND TRASH  –  $550. ±

GAS  –  $20. ±

LOT SIZE:   6,673± SQ. FT.

ZONED:   LA R4       SUBJECT TO GENERAL PLAN CONFIRMATION

TAXES:   PROPOSITION 13

ESTATE OF JONATHAN TOM

TERMS:   CASH. BUYER TO OBTAIN OWN FINANCING. FINANCING IS NOT A CONTINGENCY TO  THIS SALE. PROPERTY SOLD IN “AS IS” CONDITION WITH NO CONTINGENCIES WHATSOEVER. PROPERTY SOLD SUBJECT TO ACCEPTANCE OR REJECTION BY THE ESTATE AND SUBJECT TO COURT CONFIRMATION.

ESCROW PERIOD:   45 DAYS OR SOONER

DEPOSIT:   $25,000 CASH OR CASHIER’S CHECK REQUIRED TO BID. BALANCE OF 10% DEPOSIT BY PERSONAL CHECK. CASHIER’S CHECK SHOULD BE MADE PAYABLE TO FLANS & WEINER, INC.. IN THE EVENT YOUR BID IS REJECTED, DEPOSIT WILL BE REFUNDED WITHOUT INTEREST.

INSPECTIONS:   SUNDAY, NOVEMBER 4 & 11 (11:00 A.M.-2:00 P.M.) & ½ HOUR BEFORE AUCTION.

TITLE:   SELLER TO PROVIDE STANDARD TITLE POLICY.

PLEASE CALL FLANS & WEINER, INC. IF YOU HAVE ANY QUESTIONS REGARDING THIS PROPERTY OR THE AUCTION PROCESS (818) 501-4888.

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