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12415 Texas Ave Los Angeles, CA 90025

$3,005,000 Sold Price as of 04/21/2023

12 Beds
14 Baths
6,776 Sq.Ft.

Sold

$3,005,000 Sold Price as of 04/21/2023 Refinance Your Mortgage

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Map preview of 12415 Texas Ave, Los Angeles, CA 90025

Property Overview: 12415 Texas Ave Los Angeles, CA has 12 bedrooms, 14 bathrooms, 6,776 living square feet and 7,499 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Rare opportunity to purchase a multi-family asset which would enable a savvy investor to acquire a large scale multi-family rental footprint in West Los Angeles. 12415 Texas Ave., is a 10 unit multi-family property in a prime West LA location. The subject property has an excellent unit mix of (2) studio, (4) 1 BR, and (4) 2 BR units. This trophy asset was originally constructed in 1964 and is approximately 6,776 SqFt of property on 7,499 SqFt lot. There is substantial rental upside, creating a quintessential "value-add" investment opportunity. This generational asset in an undeniable attractive location that will surely pay long term dividends to a savvy investor. The property still requires seismic work for its parking structure. The property is directly next door to 12425 Texas Ave, (19 units)which is also for sale and the property can be purchased with three other West LA properties located at 1338 Carmelina (8 units), 1352 Carmelina Ave. (26 units) & 11600 Rochester Ave.

Listed by Errol Spiro | BRE #00893163 | Miller & Desatnik Realty Co.
Co-listed by Jonathan Taksa | BRE #01366169 | Remax Commercial and Investment Realty

Last checked: 33 seconds ago | Last updated: June 5th, 2023 | Source CRMLS | DOM: 77

Home details

Lot Sq. Ft: 7,499
HOA Dues: $0/mo
Year built: 1964
Garage: --
Property Type:: Multi Family

Status: Sold
MLS#: 22223573
City: Los Angeles
County: Los Angeles
Time on Site: 507 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 10
Total # of Buildings: 1

Unit Breakdown 1

# of Units: 2
# of Beds: 0
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,500
Total Rent: $3,000
Pro Forma/Market Rent: $3,390

Unit Breakdown 2

# of Units: 4
# of Beds: 1
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,778
Total Rent: $7,110
Pro Forma/Market Rent: $9,180

Unit Breakdown 3

# of Units: 4
# of Beds: 2
# of Baths: 2
Furnishing: Unfurnished
Actual Rent: $2,020
Total Rent: $8,080
Pro Forma/Market Rent: $10,980

Multi-Family Income/Expense Information

Property Income and Analysis

Cap Rate: 4.06%
Gross Rent Multiplier: 14.43
Gross Scheduled Income: --
Net Operating Income: $104,905
Gross Operating Income: $212,325

Annual Expense Breakdown

Total Operating Expense: --

Property Details for 12415 Texas Ave

Interior Features

Cooling Information

No Cooling
None

Heating Information

No Heating
None

Kitchen Information

Has Appliances
Refrigerator

Lot Details / Garage and Parking

Parking/Garage Information

# of Parking Spaces: 10
No
Parking Features: None

Property Information

Total # of Units: 10
Parcel Number: 4267036022

Homeowners Association, Utilities, Taxes / Assessments

Homeowners Association

Is Not Part of Association

Location / Neighborhood

Location Information

Directions: Just South of Wilshire Boulevard and West of Bundy Drive.

View more facts & features

Local Los Angeles Agent

Sale History for 12415 Texas Ave

Last sold for $3,005,000 on April 21st, 2023

April, 2023
Apr 21, 2023

Date

Sold

CRMLS: 22223573

$3,005,000

Price
Dec 6, 2022

Date

Active

CRMLS: 22223573

$4,575,000

Price

Tax History for 12415 Texas Ave

Assessed Value (2020): $1,469,560

Year	Land Value	Improved Value	Assessed Value
2020	$873,146	$596,414	$1,469,560

Home Value Compared to the Market

This property vs the competition

12415 Texas Ave sold on April 21, 2023 for 200% higher than the current median sold price for the city of Los Angeles which is $1,050,000. The median sold price per/sqft for Los Angeles is $738 and this home is sold at $464.88 per/sqft which puts the price per square foot 37.01% lower than the current median sale per square foot for the city of Los Angeles.

About 12415 Texas Ave

Detailed summary of property

12415 Texas Ave is a multi family that recently sold in Los Angeles, CA 90025. This multi family property offered 12 bedrooms, 14 bathrooms, roughly 6,776 living square feet, and sits on an approximately 7,499 square foot lot. 12415 Texas Ave was first listed on ArdentRealEstateGroup.com on December 7, 2022. The homeowner sold the property for $3,005,000. Home in Los Angeles are selling for a median price of $1,050,000 and a median price per square foot of $738. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 200% higher than the current median priced home. Local homes that are currently for sale include 3709 S Bentley Ave, 3344 Keystone Ave and 3610 Westwood Blvd. While the average home in Los Angeles, CA is selling in 96 days, 12415 Texas Ave has a days on market of 77 days. There are currently 3487 homes for sale in the Los Angeles real estate market and 2373 of them are single family homes while 1015 of them are condos and 93 are townhomes. For more information on this home for sale at 12415 Texas 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 12415 Texas Ave

Public county record property details

Beds: 11
Baths: 14
Year built: 1964
Sq. Ft.: 6,776
Lot Size: 7,498
Stories: --

Type: Apartment House (5+ Units)
Pool: No
Spa: No
County: Los Angeles
Lot#: 18
APN: 4267-036-022

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

$1,199,000

Median List Price/Sq.Ft.

$767

Median Sold Price

$1,250,000

Median Sold Price/Sq.Ft.

$733

Total Inventory

104

Median Sale to List Price %

96.53%

Avg Days on Market

Loan Type

Conventional (20%), FHA (0%), VA (0%), Cash (6.67%), Other (6.67%)

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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.