1243 Wellesley Ave #6, Los Angeles, CA 90025

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1243 Wellesley Ave #6 Los Angeles, CA 90025

$4,100,000 Sold Price as of 03/21/2023

14 Beds
14 Baths
9,842 Sq.Ft.

Sold

$4,100,000 Sold Price as of 03/21/2023 Refinance Your Mortgage

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Map preview of 1243 Wellesley Ave #6, Los Angeles, CA 90025

Property Overview: 1243 Wellesley Ave #6 Los Angeles, CA has 14 bedrooms, 14 bathrooms, 9,842 living square feet and 8,413 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: The subject property is improved at 9,842 square feet of gross building area on a .19-acre lot. The improvements include 11 units and is currently 90% occupied. The subject property has been maintained in good condition which includes a totally remodeled unit (Unit #6) which includes new paint, bamboo hardwood flooring, new washer/dryer, new kitchen appliances and two remodeled bathrooms. Per the property manager, the subject property has also been improved with new plumbing and electrical systems along with a newer roof. The subject property has 14 on-site parking spaces. Each 2-bedroom unit has 2 tandem parking spots, and each 1-bedroom unit has 1 parking spot. Each unit in the subject property has a patio/balcony amenity and there is an on-site coin laundry room available for tenants. Some of the additional features include, Rare multifamily opportunity just south of Brentwood. Professionally managed with massive upside in rents for the new Buyer Recent renovations. Low price per unit. Ample parking. First time on market since 2002.

Listed by Scott Pinkerton | BRE #01338387 | Century 21 Peak
Co-listed by Jeff Simon | BRE #01198168 | Century 21 Peak

Last checked: 33 seconds ago | Last updated: March 27th, 2023 | Source CRMLS | DOM: 152

Home details

Lot Sq. Ft: 8,413
HOA Dues: $0/mo
Year built: 1968
Garage: --
Property Type:: Multi Family

Status: Sold
MLS#: SR22205815
City: Los Angeles
County: Los Angeles
Time on Site: 590 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 11
Total # of Buildings: 1
# of Electric Meters: 1
# of Gas Meters: 1
# of Water Meters: 1

Unit Breakdown 1

# of Units: 1
# of Beds: 1
# of Baths: 1
Garage Spaces: 1
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $700
Total Rent: $8,400
Pro Forma/Market Rent: $31,200

Unit Breakdown 2

# of Units: 1
# of Beds: 1
# of Baths: 1
Garage Spaces: 1
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,800
Total Rent: $21,600
Pro Forma/Market Rent: $30,000

Unit Breakdown 3

# of Units: 1
# of Beds: 2
# of Baths: 2
Garage Spaces: 2
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,850
Total Rent: $22,200
Pro Forma/Market Rent: $48,000

Unit Breakdown 4

# of Units: 1
# of Beds: 1
# of Baths: 1
Garage Spaces: 1
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $2,200
Total Rent: $26,400
Pro Forma/Market Rent: $30,000

Unit Breakdown 5

# of Units: 1
# of Beds: 2
# of Baths: 2
Garage Spaces: 2
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $2,600
Total Rent: $31,200
Pro Forma/Market Rent: $50,400

Unit Breakdown 6

# of Units: 1
# of Beds: 1
# of Baths: 1
Garage Spaces: 1
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,800
Total Rent: $21,600
Pro Forma/Market Rent: $31,200

Unit Breakdown 7

# of Units: 1
# of Beds: 1
# of Baths: 1
Garage Spaces: 1
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,900
Total Rent: $22,800
Pro Forma/Market Rent: $31,200

Unit Breakdown 8

# of Units: 1
# of Beds: 1
# of Baths: 1
Garage Spaces: 1
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $2,100
Total Rent: $25,200
Pro Forma/Market Rent: $28,800

Unit Breakdown 9

# of Units: 1
# of Beds: 2
# of Baths: 2
Garage Spaces: 2
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $4,000
Total Rent: $48,000
Pro Forma/Market Rent: $48,000

Unit Breakdown 10

# of Units: 1
# of Beds: 1
# of Baths: 1
Garage Spaces: 1
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,900
Total Rent: $22,800
Pro Forma/Market Rent: $31,200

Unit Breakdown 11

# of Units: 1
# of Beds: 1
# of Baths: 1
Garage Spaces: 1
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,100
Total Rent: $13,200
Pro Forma/Market Rent: $28,800

Multi-Family Income/Expense Information

Property Income and Analysis

Gross Rent Multiplier: --
Gross Scheduled Income: $263,400
Net Operating Income: $157,647
Gross Operating Income: --

Annual Expense Breakdown

Total Operating Expense: $105,753
Electric: $16,246
Gas/Fuel: $0
New Taxes: $65,000
Trash: $0
Insurance: $6,500
Maintenance: $13,000
Professional Management: $7,507
Water/Sewer: $0

Property Details for 1243 Wellesley Ave #6

Interior Features

Laundry Information

Has Laundry
Common Area

Exterior Features

No Pool
Pool Features: None

Lot Details / Garage and Parking

Parking/Garage Information

Has Parking
Parking Features: Assigned, Tandem Covered

Lot Information

Lot Features: 0-1 Unit/Acre
Lot Size Source: Assessor
Common Interest: None

Property Information

Common Walls: 2+ Common Walls
Total # of Units: 11
Parcel Number: 4267036012
Year Built Source: Assessor
Property is Attached

Homeowners Association, Utilities, Taxes / Assessments

Utilities Information

Sewer: Public Sewer
Water Source: Public

Assessment Information

Has Assessments
Assessments: Unknown

Location / Neighborhood

Location Information

Directions: South Wilshire East Centinela

Neighborhood Information

Community Features: Curbs, Sidewalks, Storm Drains

View more facts & features

Local Los Angeles Agent

Sale History for 1243 Wellesley Ave #6

Last sold for $4,100,000 on March 21st, 2023

March, 2023
Mar 21, 2023

Date

Sold

CRMLS: SR22205815

$4,100,000

Price
Sep 20, 2022

Date

Active

CRMLS: SR22205815

$5,200,000

Price
December, 2022
Dec 15, 2022

Date

Leased

CRMLS: SR22224996

$3,500

Price
Oct 20, 2022

Date

Active

CRMLS: SR22224996

$4,500

Price
Listing provided courtesy of CRMLS

Terrific opportunity to live in a beautifully remodeled upper 2 bedroom + 2 baths unit with central air conditioning in a lovely, well maintained building in West LA - just 1 block to Wilshire Blvd!! Amazing updated kitchen has new cabinets, appliances, hood, & retractable wall-mount pot filler. Other features include laminate bamboo floors, fireplace, balcony w/ water line to water plants, updated bathrooms, master bathroom with en-suite, newer plumbing & electrical systems, new washer & dryer included, 2- car tandum garage space (with remote control) that has lots of storage space and so much more! Located in a super convenient West LA neighborhood just South of Wilshire! Short ride to the beach and walking distance from all of the trendy bars and restaurants on Wilshire Blvd. Feels like home! You can't beat this location!

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May, 2021
May 28, 2021

Date

Leased

CRMLS: SR21088694

$1,850

Price
Apr 27, 2021

Date

Active

CRMLS: SR21088694

$1,850

Price
Listing provided courtesy of CRMLS

Terrific opportunity to live in a lovely, well maintained building in West LA that is approximately 700 sq ft on the top floor - just 1 block to Wilshire Blvd!! Unit features hardwood like floors, stainless steel dishwasher, stainless steel refrigerator, Built-in stainless steel Microwave, stove, fireplace, updated bathroom, noand more! Wired for Spectrum Cable... Quick access to the 405/10 Freeways, hospitals, metro station, UCLA and beach. Close proximity to Starbucks, Ralphs, restaurants, theaters and shopping areas. Walk-Score is rated at 93.

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April, 2021
Apr 15, 2021

Date

Leased

CRMLS: SR20232967

$3,000

Price
Nov 20, 2020

Date

Price Change

CRMLS: SR20232967

$3,000

Price
Nov 6, 2020

Date

Active

CRMLS: SR20232967

$3,750

Price
Listing provided courtesy of CRMLS

Terrific opportunity to live in a completely remodeled upper 2 bedroom + 2 baths unit in a lovely, well maintained building in West LA - just 1 block to Wilshire Blvd!! Amazing kitchen has (2) Fisher & Paykel under-mount refrigerators/freezers/dishwashers, to include trash compactor, double wall oven,viking stove/range-hood, & retractable wall-mount pot filler. Other features include laminate hardwood floors, fireplace, balcony w/ water line to water plants, updated bathrooms, master bathroom has a steam shower/spa-like tub, washer & dryer included, 2- car tandum garage space and so much more! Located in a super convenient West LA neighborhood just South of Wilshire! Short ride to the beach and walking distance from all of the trendy bars and restaurants on Wilshire Blvd. Feels like home! You can't beat this location!

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March, 2021
Mar 2, 2021

Date

Leased

CRMLS: SR20232916

$1,750

Price
Nov 20, 2020

Date

Price Change

CRMLS: SR20232916

$1,750

Price
Nov 6, 2020

Date

Active

CRMLS: SR20232916

$2,100

Price
Listing provided courtesy of CRMLS

This lower unit in 11-unit non-smoking building has an extra large bedroom closet with sliding mirrored doors, covered "aviary" patio with wood lattice enclosure, Dishwasher, refrigerator, built-in microwave and a ceiling fan. Additional features included newer bamboo floors throughout. Bathroom has a shower-tub combo with glass sliding doors and newer vanity with tile flooring. Wired for Spectrum Cable... Parking is included in the rent. Quick access to the 405/10 Freeways, hospitals, metro station, UCLA and beach. Close proximity to Starbucks, Ralphs, restaurants, theaters and shopping areas. Walk-Score is rated at 93.

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December, 2020
Dec 29, 2020

Date

Leased

CRMLS: SR20232942

$1,750

Price
Nov 20, 2020

Date

Price Change

CRMLS: SR20232942

$1,750

Price
Nov 6, 2020

Date

Active

CRMLS: SR20232942

$2,100

Price
Listing provided courtesy of CRMLS

Terrific opportunity to live in a remodeled upper front unit in a lovely, well maintained building in West LA - just 1 block to Wilshire Blvd!! Unit features hardwood floors, dishwasher, fireplace, balcony, granite counters, Refrigerator, Built-in Microwave, & dishwasher, updated bathroom, and more! Wired for Spectrum Cable... Parking is included in the rent. Quick access to the 405/10 Freeways, hospitals, metro station, UCLA and beach. Close proximity to Starbucks, Ralphs, restaurants, theaters and shopping areas. Walk-Score is rated at 93.

Continue Reading
December, 2020
Dec 22, 2020

Date

Leased

CRMLS: SR20232960

$2,600

Price
Nov 20, 2020

Date

Price Change

CRMLS: SR20232960

$2,600

Price
Nov 6, 2020

Date

Active

CRMLS: SR20232960

$2,925

Price
Listing provided courtesy of CRMLS

Terrific opportunity to live in a completely remodeled upper 2 bedroom + 2 baths unit in a lovely, well maintained building in West LA - just 1 block to Wilshire Blvd!! Features laminate hardwood floors, fireplace, balcony, dishwasher,built-in microwave, refrigerator and washer/dryer included. Additional features include updated bathrooms, one with a tub and the master with a walk-in shower and closet. Parking is included in the rent. Quick access to the 405/10 Freeways, hospitals, metro station, UCLA and beach. Close proximity to Starbucks, Ralphs, restaurants, theaters and shopping areas. Walk-Score is rated at 93.

Continue Reading
December, 2020
Dec 9, 2020

Date

Leased

CRMLS: SR20232924

$1,900

Price
Nov 20, 2020

Date

Price Change

CRMLS: SR20232924

$1,900

Price
Nov 6, 2020

Date

Active

CRMLS: SR20232924

$2,200

Price
Listing provided courtesy of CRMLS

This lower unit in 11-unit non-smoking building has an extra large bedroom closet with sliding mirrored doors, covered "aviary" patio with wood lattice enclosure, Washer/Dryer in the unit, Dishwasher, and a ceiling fan. Additional features included newer bamboo floors in the living room, dinette, & bedroom. Wired for Spectrum Cable... Parking is included in the rent. Quick access to the 405/10 Freeways, hospitals, metro station, UCLA and beach. Close proximity to Starbucks, Ralphs, restaurants, theaters and shopping areas. Walk-Score is rated at 93.

Continue Reading
December, 2002
Dec 2, 2002

Date

Sold (Public Records)

Public Records

--

Price

Tax History for 1243 Wellesley Ave #6

Assessed Value (2020): $519,920

Year	Land Value	Improved Value	Assessed Value
2020	$164,972	$354,948	$519,920

Home Value Compared to the Market

This property vs the competition

1243 Wellesley Ave #6 sold on March 21, 2023 for 278.15% 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 $457.22 per/sqft which puts the price per square foot 39.44% lower than the current median sale per square foot for the city of Los Angeles.

About 1243 Wellesley Ave #6

Detailed summary of property

1243 Wellesley Ave #6 is a multi family that recently sold in Los Angeles, CA 90025. This multi family property offered 14 bedrooms, 14 bathrooms, roughly 9,842 living square feet, and sits on an approximately 8,413 square foot lot. 1243 Wellesley Ave #6 was first listed on ArdentRealEstateGroup.com on September 20, 2022. The homeowner sold the property for $4,100,000. 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 278.15% higher than the current median priced home. Local homes that are currently for sale include 3610 Westwood Blvd, 3749 Westwood Blvd and 12420 Greene Ave. While the average home in Los Angeles, CA is selling in 96 days, 1243 Wellesley Ave #6 has a days on market of 152 days. There are currently 3485 homes for sale in the Los Angeles real estate market and 2372 of them are single family homes while 1013 of them are condos and 94 are townhomes. For more information on this home for sale at 1243 Wellesley Ave #6 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 1243 Wellesley Ave #6

Public county record property details

Beds: 14
Baths: 14
Year built: 1968
Sq. Ft.: 9,842
Lot Size: 8,413
Stories: --

Type: Apartment House (5+ Units)
Pool: No
Spa: No
County: Los Angeles
Lot#: 8
APN: 4267-036-012

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

$1,149,000

Median List Price/Sq.Ft.

$743

Median Sold Price

$1,100,935

Median Sold Price/Sq.Ft.

$698

Total Inventory

103

Median Sale to List Price %

104.95%

Avg Days on Market

Loan Type

Conventional (13.64%), FHA (0%), VA (0%), Cash (18.18%), Other (9.09%)

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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.