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12340 Tennessee Ave, Los Angeles, CA 90064
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12340 Tennessee Ave Los Angeles, CA 90064

$1,652,000 Sold Price as of 06/09/2023
  • 5 Beds
  • 9 Baths
  • 3,827 Sq.Ft.
Sold
$1,652,000 Sold Price as of 06/09/2023 Refinance Your Mortgage
Map preview of 12340 Tennessee Ave, Los Angeles, CA 90064

Property Overview: 12340 Tennessee Ave Los Angeles, CA has 5 bedrooms, 9 bathrooms, 3,827 living square feet and 6,250 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 2302 S. Carmelina Ave. & 12340 Tennessee Ave. is a rare multi-family investment opportunity located in the heart of LA's famed community of Rancho Park. Consisting of 9 units set amongst 3 properties and lushly landscaped grounds, the buildings boast a great unit mix consisting of spacious 1-bedroom and studio floor plans and a home. The buildings represent a quintessential value-add opportunity rarely available in such a prime location. The unit mix includes (1) 1-bed, 1-bath house with a den, (4) 1-bed, 1-bath units, and (4) efficiency units. Please note, the original configuration of the property consisted of a house and 4 units. The 4 units were all 2 bedroom two bath units and were converted to 4 one bedroom one bath units and 4 efficiency units. Certificate of occupancy shows 5 units. Each of the units offers an abundance of rental upside. Additional property features include on-site parking, an on-site laundry facility, and gated entry. Priced at a low $255,000 per unit, this basis is rarely seen on the Westside. A quick walk to high-end dining and nightlife, this rare offering presents an astute investor with the unique opportunity to capitalize on higher market rents and to acquire an easy to manage turn-key asset in one of the best locations of the Westside.

Listed by Errol Spiro | BRE #00893163 | Miller & Desatnik Realty Co.
Co-listed by Jonathan Taksa | BRE #01366169 | Remax Commercial and Investment Realty
Last checked: 4 minutes ago | Last updated: June 14th, 2023 | Source CRMLS | DOM: 40

Home details

Lot Sq. Ft
6,250
HOA Dues
$0/mo
Year built
1956
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
23241663
City
Los Angeles
County
Los Angeles
Time on Site
460 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 9
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,695
  • Total Rent: $1,695
  • Pro Forma/Market Rent: $1,895
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,964
  • Total Rent: $1,964
  • Pro Forma/Market Rent: $2,395
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,038
  • Total Rent: $1,038
  • Pro Forma/Market Rent: $1,595
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,795
  • Total Rent: $1,795
  • Pro Forma/Market Rent: $1,895
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,490
  • Total Rent: $1,490
  • Pro Forma/Market Rent: $1,895
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,095
  • Total Rent: $1,095
  • Pro Forma/Market Rent: $1,595
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,095
  • Total Rent: $1,095
  • Pro Forma/Market Rent: $1,595
Unit Breakdown 8
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,695
  • Total Rent: $1,695
  • Pro Forma/Market Rent: $1,895
Unit Breakdown 9
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,095
  • Total Rent: $1,095
  • Pro Forma/Market Rent: $1,595
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 12.83
  • Gross Scheduled Income: --
  • Net Operating Income: $88,049
  • Gross Operating Income: $150,875
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 12340 Tennessee Ave

Interior Features
Cooling Information
  • No Cooling
  • None
Heating Information
  • No Heating
  • None
Kitchen Information
  • Has Appliances
  • Refrigerator
Interior Features
  • Security Features: Gated Community
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 9
  • Has Parking
  • Parking Features: Covered
Lot Information
  • Lot Size Source: Assessor
Property Information
  • Total # of Units: 9
  • Parcel Number: 4259028001
  • Year Built Source: Assessor
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Location / Neighborhood
Location Information
  • Directions: North of Pico Blvd. and West of S. Barrington Ave.
View more facts & features

Local Los Angeles Agent

Sale History for 12340 Tennessee Ave

Last sold for $1,652,000 on June 9th, 2023

  • June, 2023

  • Jun 9, 2023

    Date

    Sold

    CRMLS: 23241663

    $1,652,000

    Price

  • Feb 14, 2023

    Date

    Active

    CRMLS: 23241663

    $2,295,000

    Price

Tax History for 12340 Tennessee Ave

Assessed Value (2020): $171,405
Year Land Value Improved Value Assessed Value
2020 $77,986 $93,419 $171,405

Home Value Compared to the Market

This property vs the competition

12340 Tennessee Ave sold on June 9, 2023 for 67.65% higher than the current median sold price for the city of Los Angeles which is $1,190,000. The median sold price per/sqft for Los Angeles is $755 and this home is sold at $521.3 per/sqft which puts the price per square foot 30.95% lower than the current median sale per square foot for the city of Los Angeles.

About 12340 Tennessee Ave

Detailed summary of property

12340 Tennessee Ave is a multi family that recently sold in Los Angeles, CA 90064. This multi family property offered 5 bedrooms, 9 bathrooms, roughly 3,827 living square feet, and sits on an approximately 6,250 square foot lot. 12340 Tennessee Ave was first listed on ArdentRealEstateGroup.com on February 14, 2023. The homeowner sold the property for $1,652,000. 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 67.65% higher than the current median priced home. Local homes that are currently for sale include 1132 S Wooster St, 8430 Fordham Rd and 1140 S Shenandoah St. While the average home in Los Angeles, CA is selling in 92 days, 12340 Tennessee Ave has a days on market of 40 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 12340 Tennessee Ave Los Angeles, CA 90064 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 12340 Tennessee Ave

Public county record property details
Beds
10
Baths
9
Year built
1956
Sq. Ft.
3,827
Lot Size
6,249
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
1
APN
4259-028-001

The source for these homes facts are from public records.

90064 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,799,900
Median List Price/Sq.Ft.
$973
Median Sold Price
$1,521,000
Median Sold Price/Sq.Ft.
$976
Total Inventory
68
Median Sale to List Price %
101.4%
Avg Days on Market
37
Loan Type
Conventional (14.29%), FHA (4.76%), VA (0%), Cash (0%), Other (9.52%)

Thinking of Selling?

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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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