The Reno Terrace Apartments are a 66-unit property positioned between Koreatown, Silver Lake, and MacArthur Park, with terrific access to Downtown and the rest of Los Angeles! It is rare to find an asset of this size and vintage for the area. This investment is priced at a current 5.61% Cap Rate and 11.03 GRM, with projected rental upside of about 20% for a new owner! The 66 units are comprised of nearly all Studio units and (1) 1 Bed / 1 Bath (with den) unit. The building has a pool in the central courtyard as well as parking for 33 cars. Units include gas stoves and heaters (master metered for all utilities) and all units have patios for tenants to enjoy. Soft-story seismic retrofit work has also been finished. With a walk score of 89, the property is surrounded by terrific amenities, allowing tenants to accomplish most errands and daily tasks on foot, cutting down on the need for parking. Transit options are also exceptional, with terrific access to bus stops and metro rail lines.
Property Details
Property Features
Property Information:
Year Built: 1964
Stories: 2
Listing Office:
Office Name: Keller Williams Beach Cities
Office Phone: (310) 480-2130
Listing Agent: Josh Cohen
Exterior Features
Exterior Information:
Private Pool: No
Parking Information:
Garage Space: 33 spaces
Lot Features
Lot Information:
Lot: Rectangular Lot
Lot Size: 0.44 Acres
School Info
Assigned Schools Information:
Belmont Senior High School, Public District Grades 9-12
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
Virgil Middle School, Public District Grades 6-8
Studio, Public District Grades 6-8
Commonwealth Avenue Elementary School, Public District Grades KG-5
Melrose Avenue Elementary School, Public Magnet Grades KG-6
Academy For Enriched Sciences, Public Magnet Grades 1-5
Other
Directions Information:
Directions: Near Reno and 3rd
Price Information
Listing Price Info
Price Summary:
List Price: $12,870,000
Tax Information:
Annual Amount: $137,005
Tax Year: 2021
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Housing Market Comparison
See how this home compares to others in Los Angeles, CA.
This property is $11.8M 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: #SB24098260
Listing Office:
Office Name: Keller Williams Beach Cities
Office Phone: (310) 480-2130
Listing Agent: Josh Cohen
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: 5/29/2024, 7:20:35 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
Tax History
YEAR
PROP. TAX
ASSESSMENT
2021
$137,005
$11,360,546
2020
$35,498
$2,776,932
2019
$35,258
$2,722,484
2018
$34,463
$2,669,103
2017
$34,463
$2,616,769
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
6
/10
Commonwealth Avenue Elementary School
215 S Commonwealth Ave
Distance between this listing and this school0.20 miles
Public District Grades KG-5
9
/10
Melrose Avenue Elementary School
731 N Detroit St
Distance between this listing and this school3.72 miles
Public Magnet Grades KG-6
9
/10
Academy For Enriched Sciences
6170 Lockhurst Dr
Distance between this listing and this school22.25 miles
Public Magnet Grades 1-5
Middle School
5
/10
Virgil Middle School
152 N Vermont Ave
Distance between this listing and this school0.53 miles
Public District Grades 6-8
4
/10
Studio
2211 W Avenue 30
Distance between this listing and this school3.63 miles
Public District Grades 6-8
High School
3
/10
Belmont Senior High School
1575 W 2nd St
Distance between this listing and this school1.18 miles
Public District Grades 9-12
3
/10
Contreras Learning Center-Academic Leadership Community
322 Lucas Ave
Distance between this listing and this school1.49 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 school1.49 miles
Public District Grades 9-12
Assigned Schools
6
/10
Commonwealth Avenue Elementary School
215 S Commonwealth Ave
Distance between this listing and this school0.20 miles
Public District Grades KG-5
9
/10
Melrose Avenue Elementary School
731 N Detroit St
Distance between this listing and this school3.72 miles
Public Magnet Grades KG-6
9
/10
Academy For Enriched Sciences
6170 Lockhurst Dr
Distance between this listing and this school22.25 miles
Public Magnet Grades 1-5
Assigned Schools
5
/10
Virgil Middle School
152 N Vermont Ave
Distance between this listing and this school0.53 miles
Public District Grades 6-8
4
/10
Studio
2211 W Avenue 30
Distance between this listing and this school3.63 miles
Public District Grades 6-8
Nearby Schools
4
/10
Vista Charter Middle School
2900 W Temple St
Distance between this listing and this school0.43 miles
Public Charter Grades 6-8
Assigned Schools
3
/10
Belmont Senior High School
1575 W 2nd St
Distance between this listing and this school1.18 miles
Public District Grades 9-12
3
/10
Contreras Learning Center-Academic Leadership Community
322 Lucas Ave
Distance between this listing and this school1.49 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 school1.49 miles
The neighbors living near this home have an average income of $45,208. The most common annual income of people living in Los Angeles, CA is between $35k-100k. Residents typically live in single, no kids family. The majority of residents in this area have post secondary degree education.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 245 S Reno St
What is the listing price of this property?
The listing price of 245 S Reno St property is $12,870,000.
What type of property is this?
The property 245 S Reno St is a condo located in Los Angeles, California, 90057.
Is this property for sale now?
Active Listing: 245 S Reno 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 245 S Reno St are: Commonwealth Avenue Elementary School: GreatSchools Rating 6/10Melrose Avenue Elementary School: GreatSchools Rating 9/10Academy For Enriched Sciences: GreatSchools Rating 9/10Virgil Middle School: GreatSchools Rating 5/10Studio: GreatSchools Rating 4/10Belmont Senior High School: GreatSchools Rating 3/10Contreras Learning Center-Academic Leadership Community: GreatSchools Rating 3/10Contreras Learning Center-Los Angeles School of Global St: GreatSchools Rating 2/10
What is the annual property tax for this property?
According to the records, the last property tax for 2021 is $137,005 (source: MLS/based on county public records data).
Which year was this property built?
The year of construction for 245 S Reno St is 1964.
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This home is located at 245 S Reno St in Los Angeles, CA and zip code 90057 in the Central LA neighborhood. This home, which was built in 1964, sits on a 0.44 acre lot. It has been listed on Rocket Homes since May 15, 2024 and is currently priced at $12,870,000.
In April 2024 more than 701 listings in Los Angeles, CA were sold above the asking price. During the same period more than 204 listings were sold at asking price, while more than 629 were sold below. The number of listings in Los Angeles, CA increased by 14.9% between March 2024 and April 2024. The median list price of listings available in April 2024 was $986,427, while the average time on the real estate market was 34 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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