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11408 Ohio Ave, Los Angeles, CA 90025
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11408 Ohio Ave Los Angeles, CA 90025

$1,595,000
  • 2 Beds
  • 6 Baths
  • 2,536 Sq.Ft.
For Sale
$1,595,000 Get Pre-Qualified
Map preview of 11408 Ohio Ave, Los Angeles, CA 90025

Property Overview: 11408 Ohio Ave Los Angeles, CA has 2 bedrooms, 6 bathrooms, 2,536 living square feet and 6,985 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: We are pleased to present a 5-unit (4 units + Single Family Home) property located in West LA for only $1,595,000 with 3 of 5 units NOT subject to rent control and 2 units delivered VACANT! This opportunity is located one block north of Santa Monica Blvd, just west of the 405, and in very close proximity to Sawtelle Blvd, one of the trendiest corridors in Los Angeles with numerous iconic Sawtelle Japantown restaurants including Mizu 212, Sushi Tsujita, Wine Kitchen House, Hermanito, Donting Noodle, and Tempura House. The building currently operates at a 5.57% CAP on current rents (assuming market rents for the vacant units), with rental upside potential to a 6.25% CAP on pro-forma rents. The property consists of two separate structures, with a two-story four unit in the front and a single-story house in the rear, built in 1940, along with 7 onsite gated parking spaces. The unit mix consists of 4 studios (2 extra-large) and 1 two-bedroom two bath unit (situated in the rear freestanding house). 3 out of 5 units are NON-RENT CONTROL, as they are subject to a luxury exemption, which includes the two-bedroom two bath unit. This offering is well positioned for a local operator looking to increase their holdings and continue driving returns within a highly coveted and proven submarket.

Listed by Casey Lins | BRE #01902650 | Kidder Mathews of California, Inc.
Last checked: 11 minutes ago | Last updated: August 16th, 2024 | Source CRMLS | DOM: 39

Home details

Lot Sq. Ft
6,985
HOA Dues
$0/mo
Year built
1940
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24425443
City
Los Angeles
County
Los Angeles
Time on Site
41 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 5
  • Total # of Buildings: 2
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,895
  • Total Rent: $1,895
  • Pro Forma/Market Rent: $1,995
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,127
  • Total Rent: $1,127
  • Pro Forma/Market Rent: $1,795
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,995
  • Total Rent: $1,995
  • Pro Forma/Market Rent: $1,995
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,333
  • Total Rent: $1,333
  • Pro Forma/Market Rent: $1,795
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $4,000
  • Total Rent: $4,000
  • Pro Forma/Market Rent: $4,000
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5.57%
  • Gross Rent Multiplier: 12.84
  • Gross Scheduled Income: --
  • Net Operating Income: $88,858
  • Gross Operating Income: $124,255
Annual Expense Breakdown
  • Total Operating Expense: --

Open Houses for 11408 Ohio Ave

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Property Details for 11408 Ohio Ave

Interior Features
Cooling Information
  • No Cooling
  • None
Heating Information
  • Has Heating
  • Wall Furnace
Kitchen Information
  • Has Appliances
Interior Features
  • Levels: Two, One
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 7
  • Has Parking
  • Parking Features: Uncovered
Lot Information
  • Lot Size Source: Assessor
Property Information
  • Total # of Units: 5
  • Parcel Number: 4261003017
  • Year Built Source: Assessor
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: Google Maps: 11408 Ohio Ave, Los Angeles, CA 90025
View more facts & features

Local Los Angeles Agent

Sale History for 11408 Ohio Ave

View property's historical transactions

  • August, 2024

  • Aug 8, 2024

    Date

    Active

    CRMLS: 24425443

    $1,595,000

    Price

Tax History for 11408 Ohio Ave

Assessed Value (2020): $750,405
Year Land Value Improved Value Assessed Value
2020 $420,561 $329,844 $750,405

Home Value Compared to the Market

This property vs the competition

11408 Ohio Ave is listed 32.92% higher 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 $768 and this home is listed at $628.94 per/sqft which puts the price per square foot 18.11% lower than the median price per square foot for the city of Los Angeles.

About 11408 Ohio Ave

Detailed summary of property

11408 Ohio Ave is a multi family located in Los Angeles, CA 90025 and is currently for sale. This multi family property offers 2 bedrooms, 6 bathrooms, roughly 2,536 living square feet, and sits on an approximately 6,985 square foot lot. 11408 Ohio Ave was first listed on ArdentRealEstateGroup.com on August 8, 2024. The homeowner is currently asking $1,595,000. The median priced home in Los Angeles is $1,200,000 with a median price per square foot of $768. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 32.92% higher than the median priced home. Local competing homes currently for sale include 1467 S Canfield Ave, 1816 Pacific Ave and 12463 Walsh Ave. While the average home in Los Angeles, CA is selling in 106 days, 11408 Ohio Ave has a days on market of 39 days. There are currently 4052 homes for sale in the Los Angeles real estate market and 2782 of them are single family homes while 1148 of them are condos and 116 are townhomes. For more information on this home for sale at 11408 Ohio Ave Los Angeles, CA 90025 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 11408 Ohio Ave

Public county record property details
Beds
3
Baths
7
Year built
1940
Sq. Ft.
2,536
Lot Size
7,000
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
21
APN
4261-003-017

The source for these homes facts are from public records.

90025 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,234,999
Median List Price/Sq.Ft.
$743
Median Sold Price
$1,151,000
Median Sold Price/Sq.Ft.
$714
Total Inventory
120
Median Sale to List Price %
97.96%
Avg Days on Market
23
Loan Type
Conventional (13.79%), FHA (0%), VA (0%), Cash (20.69%), Other (10.34%)

Tour This Home

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Los Angeles Agent
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(714) 706-1823

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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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