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1251 Wellesley Ave, Los Angeles, CA 90025
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1251 Wellesley Ave Los Angeles, CA 90025

$3,824,397 Sold Price as of 11/30/2022
  • 8 Beds
  • 8 Baths
  • 5,969 Sq.Ft.
Sold
$3,824,397 Sold Price as of 11/30/2022 Refinance Your Mortgage
Map preview of 1251 Wellesley Ave, Los Angeles, CA 90025

Property Overview: 1251 Wellesley Ave Los Angeles, CA has 8 bedrooms, 8 bathrooms, 5,969 living square feet and 6,355 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 1251 Wellesley Avenue consists of 7 beautiful units ideally located in the heart of LA's vibrant Westside. The property was built in1987, and as such, is NOT subject to the City of Los Angeles's Rent Stabilization Ordinance (AB 1482 applies). The property consists of one building with two floors of residential units over 1 level of gated parking (exempt from seismic soft story retrofit). The ideal unit mix consists of seven 1+1 units and an incredible 2 bedroom, 2.5 bathroom townhome style unit. The property features beautiful landscaping, new paint, and a fresh facade. Interiors have been finished with wood flooring and modern cabinetry. The building offers its residents a secure intercom entry, balconies, double/stack windows, an on-site laundry room, and ample gated parking (11 spaces for 7 units). Each unit has a fireplace, central HV/AC, walk-in storage, and a corner-view kitchen with sliding windows to outside. This property is only blocks from theCity of Santa Monica. Located on the corner of Texas Avenue, just one block south of Wilshire Boulevard, the units have dynamite floor plans flooded with natural light. Within walking distance of Brentwood and the high-end dining and nightlife of Wilshire Blvd.and Santa Monica Blvd., this rare value add offering presents an astute investor with the unique opportunity to capitalize on higher market rents and to acquire a prestigious turnkey asset in one of the best rental locations in all of Los Angeles.

Listed by Jonathan Taksa | BRE #01366169 | Remax Commercial and Investment Realty
Last checked: 4 minutes ago | Last updated: December 1st, 2022 | Source CRMLS | DOM: 21

Home details

Lot Sq. Ft
6,355
HOA Dues
$0/mo
Year built
1987
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
22210613
City
Los Angeles
County
Los Angeles
Time on Site
567 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 7
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 6
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,308
  • Total Rent: $13,849
  • Pro Forma/Market Rent: $17,370
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $3,142
  • Total Rent: $3,142
  • Pro Forma/Market Rent: $3,895
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 3.17%
  • Gross Rent Multiplier: 18.61
  • Gross Scheduled Income: --
  • Net Operating Income: $120,297
  • Gross Operating Income: $204,214
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 1251 Wellesley Ave

Interior Features
Cooling Information
  • Has Cooling
  • Central Air
Heating Information
  • Has Heating
  • Central
Laundry Information
  • Has Laundry
  • Community
Room Information
  • Flooring: Wood
Kitchen Information
  • Has Appliances
  • Microwave, Refrigerator
Exterior Features
Exterior Information
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 11
  • Has Parking
  • Parking Features: Gated
Lot Information
  • Lot Size Source: Assessor
Property Information
  • Total # of Units: 7
  • Parcel Number: 4267036013
  • Year Built Source: Assessor
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Location / Neighborhood
Location Information
  • Directions: On the Northwest corner of Texas Avenue and Wellesley Avenue, just one block South of Wilshire Blvd. and Brentwood. Only blocks to the city of Santa Monica.
View more facts & features

Local Los Angeles Agent

Sale History for 1251 Wellesley Ave

Last sold for $3,824,397 on November 30th, 2022

  • November, 2022

  • Nov 30, 2022

    Date

    Sold

    CRMLS: 22210613

    $3,824,397

    Price

  • Oct 20, 2022

    Date

    Active

    CRMLS: 22210613

    $3,795,000

    Price

Tax History for 1251 Wellesley Ave

Assessed Value (2020): $1,575,057
Year Land Value Improved Value Assessed Value
2020 $659,708 $915,349 $1,575,057

Home Value Compared to the Market

This property vs the competition

1251 Wellesley Ave sold on November 30, 2022 for 218.91% 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 $635.78 per/sqft which puts the price per square foot 15.79% lower than the current median sale per square foot for the city of Los Angeles.

About 1251 Wellesley Ave

Detailed summary of property

1251 Wellesley Ave is a multi family that recently sold in Los Angeles, CA 90025. This multi family property offered 8 bedrooms, 8 bathrooms, roughly 5,969 living square feet, and sits on an approximately 6,355 square foot lot. 1251 Wellesley Ave was first listed on ArdentRealEstateGroup.com on October 20, 2022. The homeowner sold the property for $3,824,397. 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 218.91% higher than the current median priced home. Local homes that are currently for sale include 3749 Westwood Blvd, 3544 Vinton Ave and 12420 Greene Ave. While the average home in Los Angeles, CA is selling in 94 days, 1251 Wellesley Ave has a days on market of 21 days. There are currently 3580 homes for sale in the Los Angeles real estate market and 2422 of them are single family homes while 1059 of them are condos and 93 are townhomes. For more information on this home for sale at 1251 Wellesley 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 1251 Wellesley Ave

Public county record property details
Beds
8
Baths
8
Year built
1987
Sq. Ft.
5,969
Lot Size
6,354
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
9,10
APN
4267-036-013

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
108
Median Sale to List Price %
104.95%
Avg Days on Market
32
Loan Type
Conventional (13.64%), FHA (0%), VA (0%), Cash (18.18%), Other (9.09%)

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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