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1020 S Westlake Ave, Los Angeles, CA 90006
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1020 S Westlake Ave Los Angeles, CA 90006

$1,190,000
  • 11 Beds
  • 5 Baths
  • 2,775 Sq.Ft.
For Sale
$1,190,000 Get Pre-Qualified
Map preview of 1020 S Westlake Ave, Los Angeles, CA 90006

Property Overview: 1020 S Westlake Ave Los Angeles, CA has 11 bedrooms, 5 bathrooms, 2,775 living square feet and 7,502 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: Excellent investment opportunity in Los Angeles.Designated and permited as a roominghouse.Each room has rented individualy. Shared kitchen.Seller is motivated.

Listed by Yun Young Kwag | BRE #01935957 | New Star Realty
Last checked: 8 minutes ago | Last updated: May 17th, 2024 | Source CRMLS | DOM: 55
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Home details

Lot Sq. Ft
7,502
HOA Dues
$0/mo
Year built
1903
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24390363
City
Los Angeles
County
Los Angeles
Time on Site
56 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 1
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 11
  • # of Baths: 5
  • Furnishing: Furnished
  • Actual Rent: $9,014
  • Total Rent: $9,014
  • Pro Forma/Market Rent: $11,000
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 11
  • Gross Scheduled Income: --
  • Net Operating Income: $73,568
  • Gross Operating Income: $108,168
Annual Expense Breakdown
  • Total Operating Expense: --
  • Electric: $6,000
  • New Taxes: $14,400
  • Trash: $1,000
  • Gardener: $800
  • Insurance: $3,000
  • Water/Sewer: $8,400

Open Houses for 1020 S Westlake Ave

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Property Details for 1020 S Westlake Ave

Interior Features
Kitchen Information
  • Has Appliances
  • Dishwasher, Disposal, Microwave
Interior Features
  • Levels: Two
Lot Details / Garage and Parking
Parking/Garage Information
  • Has Parking
  • Parking Features: Parking Space
Property Information
  • Total # of Units: 1
  • Parcel Number: 5136011003
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: East of Alvarado, South of Olympic
View more facts & features

Local Los Angeles Agent

Sale History for 1020 S Westlake Ave

Last sold for $22,500 on December 8th, 2020

  • May, 2024

  • May 9, 2024

    Date

    Active

    CRMLS: 24390363

    $1,190,000

    Price

  • April, 2024

  • Apr 23, 2024

    Date

    Canceled

    CRMLS: SB23203890

    $1,290,000

    Price

  • Nov 15, 2023

    Date

    Active

    CRMLS: SB23203890

    $1,490,000

    Price

  • Listing provided courtesy of CRMLS

    Huge price improvement!! Over 6% CAP Rate. Check out the numbers on this income property right off of Olympic Blvd. Designated and permitted as a rooming house, each room is permitted to be rented out individually for passive income! Currently fully occupied, the property promises a steady stream of rental income, and its prime location just a short walk from LA Live entertainment district makes it an ideal investment for growth potential. Don't miss out on the chance to earn a healthy return on your investment with this high-yielding property.

  • August, 2023

  • Aug 14, 2023

    Date

    Canceled

    CRMLS: SB23059108

    $1,170,000

    Price

  • Apr 12, 2023

    Date

    Active

    CRMLS: SB23059108

    $1,200,000

    Price

  • Listing provided courtesy of CRMLS

    New Price! This income property on Olympic Blvd is an excellent investment opportunity in Los Angeles, with a cap rate over 6%. Designated and permitted as a rooming house, each room can be rented out for passive income. Currently fully occupied, the property promises a steady stream of rental income, and its prime location just a short walk from LA Live entertainment district makes it an ideal investment for growth potential. Don't miss out on the chance to earn a healthy return on your investment with this high-yielding property.

  • April, 2023

  • Apr 6, 2023

    Date

    Expired

    CRMLS: SB22066571

    $1,290,000

    Price

  • Apr 9, 2022

    Date

    Active

    CRMLS: SB22066571

    $1,390,000

    Price

  • Listing provided courtesy of CRMLS

    Amazing opportunity to invest in a rooming house with solid income! Cap rate above 5% with even more upside potential. Great location right off Olympic Blvd, walkable distance to restaurants, LA Live, and public transportation. This property is fully occupied and rooms are highly desired when available.

  • December, 2020

  • Dec 8, 2020

    Date

    Sold (Public Records)

    Public Records

    $22,500

    Price

  • April, 2016

  • Apr 7, 2016

    Date

    Sold (Public Records)

    Public Records

    --

    Price

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Tax History for 1020 S Westlake Ave

Assessed Value (2020): $838,883
Year Land Value Improved Value Assessed Value
2020 $587,219 $251,664 $838,883

Home Value Compared to the Market

This property vs the competition

1020 S Westlake Ave is listed 0.83% lower than the median list price for the city of Los Angeles which has a median list price of $1,200,000. The median price per/sqft for Los Angeles is $772 and this home is listed at $428.83 per/sqft which puts the price per square foot 44.45% lower than the median price per square foot for the city of Los Angeles.

About 1020 S Westlake Ave

Detailed summary of property

1020 S Westlake Ave is a multi family located in Los Angeles, CA 90006 and is currently for sale. This multi family property offers 11 bedrooms, 5 bathrooms, roughly 2,775 living square feet, and sits on an approximately 7,502 square foot lot. 1020 S Westlake Ave was first listed on ArdentRealEstateGroup.com on May 10, 2024. The homeowner is currently asking $1,190,000. The median priced home in Los Angeles is $1,200,000 with a median price per square foot of $772. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 0.83% lower than the median priced home. Local competing homes currently for sale include 307 S Burlington Ave, 1256 W 22nd St and 2305 W 2nd St. While the average home in Los Angeles, CA is selling in 100 days, 1020 S Westlake Ave has a days on market of 55 days. There are currently 3938 homes for sale in the Los Angeles real estate market and 2648 of them are single family homes while 1176 of them are condos and 106 are townhomes. For more information on this home for sale at 1020 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 1020 S Westlake Ave

Public county record property details
Beds
4
Baths
2
Year built
1903
Sq. Ft.
2,775
Lot Size
7,500
Stories
--
Type
Boarding House, Rooming House, Apt Hotel, Transient Lodgings, Hostel
Pool
No
Spa
No
County
Los Angeles
Lot#
9
APN
5136-011-003

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.
$597
Median Sold Price
$299,000
Median Sold Price/Sq.Ft.
$650
Total Inventory
40
Median Sale to List Price %
100%
Avg Days on Market
13
Loan Type
Conventional (0%), FHA (0%), VA (0%), Cash (0%), Other (0%)

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Recently Sold Homes Near 1020 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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