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1016 S Westlake Ave, Los Angeles, CA 90006
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1016 S Westlake Ave Los Angeles, CA 90006

$1,400,000 Sold Price as of 08/24/2020
  • 78 Beds
  • 36 Baths
  • -- Sq.Ft.
Sold
$1,400,000 Sold Price as of 08/24/2020 Refinance Your Mortgage
Map preview of 1016 S Westlake Ave, Los Angeles, CA 90006

Property Overview: 1016 S Westlake Ave Los Angeles, CA has 78 bedrooms, 36 bathrooms, -- living square feet and 7,501 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Near Korea Town, Seller shall deliver 2 Unit with Vacant. (One unit is 2 bed 1 bath, One unit is 3 bed 1 bath).

Listed by Kenny Chung | BRE #01009064 | Bee Investment, Inc.
Last checked: 13 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 36

Home details

Lot Sq. Ft
7,501
HOA Dues
$0/mo
Year built
1960
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
20581726
City
Los Angeles
County
Los Angeles
Time on Site
1224 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 8
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $790
  • Total Rent: $790
  • Pro Forma/Market Rent: $1,300
Unit Breakdown 2
  • # of Units: 2
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $1,800
Unit Breakdown 3
  • # of Units: 3
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,222
  • Total Rent: $1,222
  • Pro Forma/Market Rent: $2,300
Unit Breakdown 4
  • # of Units: 4
  • # of Beds: 3
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $926
  • Total Rent: $926
  • Pro Forma/Market Rent: $1,800
Unit Breakdown 5
  • # of Units: 5
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,000
  • Total Rent: $1,000
  • Pro Forma/Market Rent: $1,300
Unit Breakdown 6
  • # of Units: 6
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $801
  • Total Rent: $861
  • Pro Forma/Market Rent: $1,800
Unit Breakdown 7
  • # of Units: 7
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,200
  • Total Rent: $1,200
  • Pro Forma/Market Rent: $1,800
Unit Breakdown 8
  • # of Units: 8
  • # of Beds: 3
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $2,300
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 13.28
  • Gross Scheduled Income: --
  • Net Operating Income: $84,162
  • Gross Operating Income: $120,468
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 1016 S Westlake Ave

Interior Features
Heating Information
  • Has Heating
  • Wall Furnace
Lot Details / Garage and Parking
Property Information
  • Total # of Units: 8
  • Parcel Number: 5136011002
Location / Neighborhood
Location Information
  • Directions: Near Olympic Bl. and Alvarado street.
View more facts & features

Local Los Angeles Agent

Sale History for 1016 S Westlake Ave

Last sold for $1,400,000 on August 24th, 2020

  • August, 2020

  • Aug 24, 2020

    Date

    Sold

    CRMLS: 20581726

    $1,400,000

    Price

  • Jun 26, 2020

    Date

    Pending

    CRMLS: 20581726

    $1,600,000

    Price

  • May 21, 2020

    Date

    Active

    CRMLS: 20581726

    $1,600,000

    Price

  • August, 2020

  • Aug 24, 2020

    Date

    Sold (Public Records)

    Public Records

    $1,400,000

    Price

Show More

Tax History for 1016 S Westlake Ave

Assessed Value (2020): $395,878
Year Land Value Improved Value Assessed Value
2020 $185,721 $210,157 $395,878

Home Value Compared to the Market

This property vs the competition

1016 S Westlake Ave sold on August 24, 2020 for 34.45% higher than the current median sold price for the city of Los Angeles which is $1,190,000.

About 1016 S Westlake Ave

Detailed summary of property

1016 S Westlake Ave is a multi family that recently sold in Los Angeles, CA 90006. This multi family property offered 78 bedrooms, 36 bathrooms, roughly -- living square feet, and sits on an approximately 7,501 square foot lot. 1016 S Westlake Ave was first listed on ArdentRealEstateGroup.com on January 13, 2021. The homeowner sold the property for $1,400,000. Home in Los Angeles are selling for a median price of $1,190,000 and a median price per square foot of $755. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 34.45% higher than the current median priced home. Local homes that are currently for sale include 1731 S New England St, 2352 W 3rd St and 307 S Burlington Ave. While the average home in Los Angeles, CA is selling in 92 days, 1016 S Westlake Ave has a days on market of 36 days. There are currently 3712 homes for sale in the Los Angeles real estate market and 2493 of them are single family homes while 1120 of them are condos and 93 are townhomes. For more information on this home for sale at 1016 S Westlake Ave Los Angeles, CA 90006 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1016 S Westlake Ave

Public county record property details
Beds
16
Baths
8
Year built
1960
Sq. Ft.
5,492
Lot Size
7,500
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
7
APN
5136-011-002

The source for these homes facts are from public records.

90006 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$799,000
Median List Price/Sq.Ft.
$606
Median Sold Price
$690,000
Median Sold Price/Sq.Ft.
$600
Total Inventory
38
Median Sale to List Price %
98.71%
Avg Days on Market
36
Loan Type
Conventional (0%), FHA (0%), VA (0%), Cash (33.33%), Other (0%)

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(714) 706-1823

Homes for Sale Near 1016 S Westlake Ave

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information 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. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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