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1025 W 23rd St Los Angeles, CA 90007

$2,104,000 Sold Price as of 12/23/2019

17 Beds
8 Baths
-- Sq.Ft.

Sold

$2,104,000 Sold Price as of 12/23/2019 Refinance Your Mortgage

Map preview of 1025 W 23rd St, Los Angeles, CA 90007

Property Overview: 1025 W 23rd St Los Angeles, CA has 17 bedrooms, 8 bathrooms, -- living square feet and -- square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: I am pleased to present for sale 1025 West 23rd Street, an eight-unit apartment building situated in the University Park submarket. As one of Los Angeles' most sought neighborhoods, this submarket's popularity has grown significantly over the recent years, with the University Village nearby and trendy retail and coffee shops in the immediate area. The location has been catering not only to students but also families and young professionals alike in recent years because of its proximity to Downtown Los Angeles, Koreatown, and the University of Southern California. The location of the asset is also considered a "Walkers Paradise" with a 90 Walk Score and situated a short distance from dining, entertainment and employment options.

Listed by Sean Rosenzweig | BRE #01406343 | Marcus & Millichap

Last checked: 5 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 69

Home details

Lot Sq. Ft: --
HOA Dues: $0/mo
Year built: 1964
Garage: --
Property Type:: Multi Family

Status: Sold
MLS#: 19504598
City: Los Angeles
County: Los Angeles
Time on Site: 1270 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: $1,050
Total Rent: $1,050
Pro Forma/Market Rent: $1,700

Unit Breakdown 2

# of Units: 5
# of Beds: 2
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,253
Total Rent: $6,267
Pro Forma/Market Rent: $10,000

Unit Breakdown 3

# of Units: 2
# of Beds: 3
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $2,998
Total Rent: $5,995
Pro Forma/Market Rent: $6,000

Multi-Family Income/Expense Information

Property Income and Analysis

Gross Rent Multiplier: 13.43
Gross Scheduled Income: --
Net Operating Income: $101,560
Gross Operating Income: $159,741

Annual Expense Breakdown

Total Operating Expense: --

Property Details for 1025 W 23rd St

Lot Details / Garage and Parking

Lot Information

Lot Size Source: Assessor

Property Information

Total # of Units: 8
Parcel Number: 5124006006

Location / Neighborhood

Location Information

Directions: The Property is Located Less than One Mile From USC and is Within the USC Patrol Zone

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Local Los Angeles Agent

Sale History for 1025 W 23rd St

Last sold for $2,104,000 on December 23rd, 2019

January, 2020
Jan 10, 2020

Date

Sold

CRMLS: 19504598

$2,104,000

Price
Nov 6, 2019

Date

Pending

CRMLS: 19504598

$2,145,000

Price
Nov 5, 2019

Date

Active Under Contract

CRMLS: 19504598

$2,145,000

Price
Aug 28, 2019

Date

Active

CRMLS: 19504598

$2,145,000

Price
December, 2019
Dec 23, 2019

Date

Sold (Public Records)

Public Records

$2,104,000

Price
May, 2018
May 4, 2018

Date

Sold

CRMLS: SB18018329

$1,487,500

Price
Feb 12, 2018

Date

Pending

CRMLS: SB18018329

$1,550,000

Price
Jan 26, 2018

Date

Active

CRMLS: SB18018329

$1,550,000

Price
Listing provided courtesy of CRMLS

These units are walking distance to USC. This is an up and coming area and would be perfect for student housing. Investors will likely enjoy a very good increase in rents in the area. These eight units are split between two bedroom and one bedroom units. Five, two bedroom units and three, one bedroom units.

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May, 2018
May 2, 2018

Date

Sold (Public Records)

Public Records

$1,487,500

Price

Tax History for 1025 W 23rd St

Assessed Value (2020): $2,104,100

Year	Land Value	Improved Value	Assessed Value
2020	$1,473,000	$631,100	$2,104,100

Home Value Compared to the Market

This property vs the competition

1025 W 23rd St sold on December 23, 2019 for 68.37% higher than the current median sold price for the city of Los Angeles which is $1,274,000.

About 1025 W 23rd St

Detailed summary of property

1025 W 23rd St is a multi family that recently sold in Los Angeles, CA 90007. This multi family property offered 17 bedrooms, 8 bathrooms, roughly -- living square feet, and sits on an approximately -- square foot lot. 1025 W 23rd St was first listed on ArdentRealEstateGroup.com on January 13, 2021. The homeowner sold the property for $2,104,000. Home in Los Angeles are selling for a median price of $1,274,000 and a median price per square foot of $791. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 68.37% higher than the current median priced home. Local homes that are currently for sale include 1037 S Bonnie Brae St, 3023 S Budlong Ave and 1100 Magnolia Ave. While the average home in Los Angeles, CA is selling in 100 days, 1025 W 23rd St has a days on market of 69 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 1025 W 23rd St Los Angeles, CA 90007 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1025 W 23rd St

Public county record property details

Beds: 10
Baths: 8
Year built: 1964
Sq. Ft.: 5,084
Lot Size: 6,996
Stories: --

Type: Apartment House (5+ Units)
Pool: No
Spa: No
County: Los Angeles
Lot#: 33
APN: 5124-006-006

The source for these homes facts are from public records.

90007 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$1,380,000

Median List Price/Sq.Ft.

$501

Median Sold Price

$525,000

Median Sold Price/Sq.Ft.

$589

Total Inventory

Median Sale to List Price %

102.94%

Avg Days on Market

Loan Type

Conventional (50%), FHA (0%), VA (0%), Cash (50%), Other (0%)

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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.