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1212 S Westmoreland Ave, Los Angeles, CA 90006
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1212 S Westmoreland Ave Los Angeles, CA 90006

$2,650,000 Sold Price as of 09/04/2020
  • -- Beds
  • -- Baths
  • -- Sq.Ft.
Sold
$2,650,000 Sold Price as of 09/04/2020 Refinance Your Mortgage
Map preview of 1212 S Westmoreland Ave, Los Angeles, CA 90006

Property Overview: 1212 S Westmoreland Ave Los Angeles, CA has -- bedrooms, -- bathrooms, -- living square feet and 11,739 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 1212 S. Westmoreland Avenue, a unique entitled 38-unit multifamily development opportunity. The property is comprised of approximately 11,750 SF lot area zoned R4-1XL. With rear alley access, current zoning and entitled plans, a developer can build up to 38 units. If a developer plans to utilize the TOC Tier 2 incentives, one can resubmit plans and potentially build up to 48 units. With tenants already evicted and the building demolished, this ideal development opportunity reduces costs and allows a developer to begin construction immediately! 1212 S. Westmoreland Avenue allows an investor to take advantage of the currently entitled plans to develop 38 units totaling 17,182 SF of building! The unit mix would consist of thirty-four (34) studios, two (2) one bed one bath, and two (2) two beds one bath units built within four stories with alley access which is favorable for subterranean parking in terms of ingress and egress. The property is also in the opportunity zone!

Listed by Daniel Hirth | BRE #01515796 | Keller Williams-Santa Monica
Last checked: 9 minutes ago | Last updated: September 29th, 2021 | Source CRMLS | DOM: 350

Home details

Lot Sq. Ft
11,739
HOA Dues
$0/mo
Year built
--
Garage
--
Property Type:
Land
Status
Sold
MLS#
19507676
City
Los Angeles
County
Los Angeles
Time on Site
1220 days

Property Details for 1212 S Westmoreland Ave

Lot Details / Garage and Parking
Property Information
  • No View
  • View: None
  • Parcel Number: 5076018014
Location / Neighborhood
Location Information
  • Directions: Located in prime Koreatown submarket, adjacent to Downtown LA, located just north of Pico Boulevard, south of Olympic Boulevard, west of Hoover Street and east of Vermont Avenue.
View more facts & features

Local Los Angeles Agent

Sale History for 1212 S Westmoreland Ave

Last sold for $2,650,000 on September 4th, 2020

  • October, 2020

  • Oct 5, 2020

    Date

    Sold

    CRMLS: 19507676

    $2,650,000

    Price

  • Jan 10, 2020

    Date

    Active

    CRMLS: 19507676

    $3,100,000

    Price

  • Jan 6, 2020

    Date

    Expired

    CRMLS: 19507676

    $3,100,000

    Price

  • Sep 5, 2019

    Date

    Active

    CRMLS: 19507676

    $3,100,000

    Price

  • September, 2020

  • Sep 4, 2020

    Date

    Sold (Public Records)

    Public Records

    $2,650,000

    Price

  • November, 2016

  • Nov 14, 2016

    Date

    Sold (Public Records)

    Public Records

    $1,300,000

    Price

Show More

Tax History for 1212 S Westmoreland Ave

Assessed Value (2020): $1,379,569
Year Land Value Improved Value Assessed Value
2020 $758,763 $620,806 $1,379,569

Home Value Compared to the Market

This property vs the competition

1212 S Westmoreland Ave sold on September 4, 2020 for 160.5% higher than the current median sold price for the city of Los Angeles which is $1,190,000.

About 1212 S Westmoreland Ave

Detailed summary of property

1212 S Westmoreland Ave is a land that recently sold in Los Angeles, CA 90006. This land offered -- bedrooms, -- bathrooms, roughly -- living square feet, and sits on an approximately 11,739 square foot lot. 1212 S Westmoreland Ave was first listed on ArdentRealEstateGroup.com on January 13, 2021. The homeowner sold the property for $2,650,000. 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 160.5% higher than the current median priced home. Local homes that are currently for sale include 1449 N Bronson Ave, 833 N Las Palmas Ave and 6411 W Weidlake Dr. While the average home in Los Angeles, CA is selling in 94 days, 1212 S Westmoreland Ave has a days on market of 350 days. There are currently 3654 homes for sale in the Los Angeles real estate market and 2456 of them are single family homes while 1102 of them are condos and 90 are townhomes. For more information on this home for sale at 1212 S Westmoreland 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 1212 S Westmoreland Ave

Public county record property details
Beds
7
Baths
5
Year built
1936
Sq. Ft.
4,619
Lot Size
11,739
Stories
--
Type
Quadruplex (4 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
54,56
APN
5076-018-014

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.
$602
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

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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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