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12425 Texas Ave, Los Angeles, CA 90025
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12425 Texas Ave Los Angeles, CA 90025

$6,900,000 Sold Price as of 03/24/2023
  • 28 Beds
  • 29 Baths
  • 19,635 Sq.Ft.
Sold
$6,900,000 Sold Price as of 03/24/2023 Refinance Your Mortgage
Map preview of 12425 Texas Ave, Los Angeles, CA 90025

Property Overview: 12425 Texas Ave Los Angeles, CA has 28 bedrooms, 29 bathrooms, 19,635 living square feet and 20,840 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. 12425 Texas Ave., is a 19 unit multi-family property in a prime West LA location. The subject property has an excellent unit mix of (1) 2 BR + den, (9) 2 BR, (2) 1 BR + den, (6) 1 BR & (1) studio unit. Trust sale, does not require court confirmation. Seller must sale before April. One of the 2 bedroom units is currently vacant. This trophy asset was originally constructed in 1960 and is approximately 19,635 SqFt of property on a large corner 20,840 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 retrofitting for its parking structure. The property is directly next door to 12415 Texas Ave, (10 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 (13 units).

Listed by Errol Spiro | BRE #00893163 | Miller & Desatnik Realty Co.
Co-listed by Jonathan Taksa | BRE #01366169 | Remax Commercial and Investment Realty
Last checked: 3 minutes ago | Last updated: March 24th, 2023 | Source CRMLS | DOM: 62

Home details

Lot Sq. Ft
20,840
HOA Dues
$0/mo
Year built
1960
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
22223088
City
Los Angeles
County
Los Angeles
Time on Site
506 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 19
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 8
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,895
  • Total Rent: $15,160
  • Pro Forma/Market Rent: $14,370
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,595
  • Total Rent: $1,595
  • Pro Forma/Market Rent: $1,795
Unit Breakdown 3
  • # of Units: 10
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $2,397
  • Total Rent: $23,970
  • Pro Forma/Market Rent: $2,765
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4%
  • Gross Rent Multiplier: 14.63
  • Gross Scheduled Income: --
  • Net Operating Income: $285,771
  • Gross Operating Income: $475,469
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 12425 Texas Ave

Interior Features
Cooling Information
  • No Cooling
  • None
Heating Information
  • No Heating
  • None
Lot Details / Garage and Parking
Parking/Garage Information
  • No
  • Parking Features: None
Property Information
  • Total # of Units: 19
  • Parcel Number: 4267036030
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Location / Neighborhood
Location Information
  • Directions: Just south of Wilshire Blvd. & West of the 405 freeway. On the corner of Texas Ave., Centinela Ave. & McClellan Ave.
View more facts & features

Local Los Angeles Agent

Sale History for 12425 Texas Ave

Last sold for $6,900,000 on March 24th, 2023

  • March, 2023

  • Mar 24, 2023

    Date

    Sold

    CRMLS: 22223088

    $6,900,000

    Price

  • Dec 6, 2022

    Date

    Active

    CRMLS: 22223088

    $9,400,000

    Price

Tax History for 12425 Texas Ave

Assessed Value (2020): $2,754,042
Year Land Value Improved Value Assessed Value
2020 $1,266,721 $1,487,321 $2,754,042

Home Value Compared to the Market

This property vs the competition

12425 Texas Ave sold on March 24, 2023 for 580.95% 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 $364.15 per/sqft which puts the price per square foot 50.66% lower than the current median sale per square foot for the city of Los Angeles.

About 12425 Texas Ave

Detailed summary of property

12425 Texas Ave is a multi family that recently sold in Los Angeles, CA 90025. This multi family property offered 28 bedrooms, 29 bathrooms, roughly 19,635 living square feet, and sits on an approximately 20,840 square foot lot. 12425 Texas Ave was first listed on ArdentRealEstateGroup.com on December 7, 2022. The homeowner sold the property for $6,900,000. 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 580.95% higher than the current median priced home. Local homes that are currently for sale include 201 N Normandie Ave, 1747 N Kingsley Dr and 526 W 47th St. While the average home in Los Angeles, CA is selling in 97 days, 12425 Texas Ave has a days on market of 62 days. There are currently 3429 homes for sale in the Los Angeles real estate market and 2324 of them are single family homes while 1008 of them are condos and 91 are townhomes. For more information on this home for sale at 12425 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 12425 Texas Ave

Public county record property details
Beds
20
Baths
--
Year built
1960
Sq. Ft.
19,635
Lot Size
20,839
Stories
--
Type
Apartment House (5+ Units)
Pool
Yes
Spa
No
County
Los Angeles
Lot#
19-21
APN
4267-036-030

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
25
Loan Type
Conventional (20%), FHA (0%), VA (0%), Cash (6.67%), Other (6.67%)

Thinking of Selling?

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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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