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1255 Lyman Pl, Los Angeles, CA 90029
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1255 Lyman Pl Los Angeles, CA 90029

$2,950,000 Sold Price as of 02/01/2022
  • 10 Beds
  • 9 Baths
  • 5,082 Sq.Ft.
Sold
$2,950,000 Sold Price as of 02/01/2022 Refinance Your Mortgage
Map preview of 1255 Lyman Pl, Los Angeles, CA 90029

Property Overview: 1255 Lyman Pl Los Angeles, CA has 10 bedrooms, 9 bathrooms, 5,082 living square feet and 12,851 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: HUGE PRICE REDUCTION! 4603 La Mirada Ave & 1255 Lyman Pl is a 9 Unit property located in the heart of East Hollywood directly across the street from the Ronald McDonald House and walking distance to Hollywood Presbyterian Hospital & Children’s Hospital (CHLA). This investment offers an owner occupier, investor, or experienced developer a chance to achieve the highest & best use for this corner lot in a highly dense rental market. The property is comprised of two parcels totaling 5,082 SF building size with 3 units in the front and a 6 unit building in the back that’s all 1bd/ 1bath. And with a large detached garage and ample parking, there is potential for an ADU conversion. The entire property will be sold together, allowing a new owner to collect rents while working through potential entitlement plans. The buildings were originally built in 1922 & 1953 and sits on a total corner lot size of 12,851 SF for future development potential. Amazing Location in East Hollywood directly across the street from Ronald McDonald House, walking distance to Hollywood Presbyterian, Children’s Hospital, Kaiser Permanente Sunset, Barnsdall Park, Metro Station, and near Los Feliz, Sunset Junction, Virgil Village, Little Armenia, Thai Town, Griffith Park, Trendy Restaurants & Shops. 1st Time on Market in 45+ Years!

Listed by Brian Noh | BRE #01438155 | Nohco Real Estate
Last checked: 15 minutes ago | Last updated: November 15th, 2023 | Source CRMLS | DOM: 99

Home details

Lot Sq. Ft
12,851
HOA Dues
$0/mo
Year built
1953
Garage
2 Car
Property Type:
Apartment
Status
Sold
MLS#
OC21137070
City
Los Angeles
County
Los Angeles
Time on Site
1059 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 9
  • Total # of Buildings: 2
  • # of Leased Units: 0
  • # of Electric Meters: 9
  • # of Gas Meters: 9
  • # of Water Meters: 2
Unit Breakdown 1
  • # of Units: 6
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $2,300
Unit Breakdown 2
  • # of Units: 2
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $2,300
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 2
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $3,500
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.7%
  • Gross Rent Multiplier: 15.2
  • Gross Scheduled Income: $262,800
  • Net Operating Income: $188,295
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $66,621
  • Trash: $0
  • Insurance: $0
  • Professional Management: $0
  • Water/Sewer: $0

Virtual Tour

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Property Details for 1255 Lyman Pl

Interior Features
Cooling Information
  • No Cooling
  • None
Heating Information
  • Has Heating
  • Floor Furnace
Laundry Information
  • Has Laundry
  • Gas Dryer Hookup, Washer Hookup
Fireplace Information
  • Has Fireplace
  • Living Room, Decorative
Room Information
  • Flooring: Tile, Wood
  • Kitchen, Living Room, See Remarks
Kitchen Information
  • Has Appliances
  • Gas Range, Water Heater
Interior Features
  • Beamed Ceilings, Tile Counters
  • Levels: Two
  • Window Features: Bay Window(s)
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 2
  • # of Parking Spaces: 10
  • Has Parking
  • Parking Features: Assigned, Driveway, Paved, Garage, Uncovered
Lot Information
  • Lot Features: 6-10 Units/Acre, Corner Lot, Lot 10000-19999 Sqft
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 9
  • Parcel Number: 5542018014
  • Year Built Source: Assessor
  • Property is Attached
  • Has Additional Parcels
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
  • Utilities: Electricity Available, Natural Gas Available, Sewer Available, Water Available
Assessment Information
  • Has Assessments
  • Assessments: Buyer to Verify, Unknown
Location / Neighborhood
Location Information
  • Directions: Near Fountain & Vermont South on Lyman and East on La Mirada.
Neighborhood Information
  • Community Features: Curbs, Sidewalks
View more facts & features

Local Los Angeles Agent

Sale History for 1255 Lyman Pl

Last sold for $2,950,000 on February 1st, 2022

  • November, 2023

  • Nov 14, 2023

    Date

    Canceled

    CRMLS: 23268529

    $3,199

    Price

  • May 9, 2023

    Date

    Active

    CRMLS: 23268529

    $4,245

    Price

  • Listing provided courtesy of CRMLS

    August special, one month free with a 15 month lease agreement! This stylish and beautifully furnished one bedroom apartment places you in trendy East Hollywood near coffee, restaurants and services. From the midcentury exterior circa 1953 enter a gorgeous interior bathed in warm natural light and understated modern design. Wood flooring, custom built-in cabinetry and a handy integrated desk create seamless coordination with the included sofa, dining set and bed, all crafted in light-hued wood. Kitchen appointments include an elegant appliance suite and full-height splash; the bath is appointed with a tile shower, glass enclosure and high-end fixtures. Enjoy tasteful lighting elements, in-unit laundry and energy efficient ductless heating + air. The gated complex with just six units provides one parking space and a great location near dining, beverage and market options including Dinosaur Coffee, Courage Bagels, Erewhon and more. Los Feliz Village and Silver Lake are just blocks away.

  • November, 2021

  • Nov 15, 2021

    Date

    Active

    CRMLS: OC21137070

    $2,999,000

    Price

  • Nov 15, 2021

    Date

    Price Change

    CRMLS: OC21137070

    $2,999,000

    Price

  • Aug 16, 2021

    Date

    Active

    CRMLS: OC21137070

    $3,995,000

    Price

  • Aug 16, 2021

    Date

    Price Change

    CRMLS: OC21137070

    $3,995,000

    Price

  • Jul 28, 2021

    Date

    Hold

    CRMLS: OC21137070

    $5,000,000

    Price

  • Jun 24, 2021

    Date

    Active

    CRMLS: OC21137070

    $5,000,000

    Price

Show More

Tax History for 1255 Lyman Pl

Assessed Value (2020): $87,822
Year Land Value Improved Value Assessed Value
2020 $27,095 $60,727 $87,822

Home Value Compared to the Market

This property vs the competition

1255 Lyman Pl sold on February 1, 2022 for 152.02% 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 $590.12 per/sqft which puts the price per square foot 21.84% lower than the current median sale per square foot for the city of Los Angeles.

About 1255 Lyman Pl

Detailed summary of property

1255 Lyman Pl is a apartment that recently sold in Los Angeles, CA 90029. This apartment offered 10 bedrooms, 9 bathrooms, roughly 5,082 living square feet, and sits on an approximately 12,851 square foot lot. 1255 Lyman Pl was first listed on ArdentRealEstateGroup.com on June 24, 2021. The homeowner sold the property for $2,950,000. 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 152.02% higher than the current median priced home. Local homes that are currently for sale include 1548 Micheltorena St, 3522 Bellevue Ave and 542 N Kenmore Ave. While the average home in Los Angeles, CA is selling in 92 days, 1255 Lyman Pl has a days on market of 99 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 1255 Lyman Pl Los Angeles, CA 90029 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1255 Lyman Pl

Public county record property details
Beds
6
Baths
6
Year built
1953
Sq. Ft.
3,100
Lot Size
4,988
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
16,17
APN
5542-018-014

The source for these homes facts are from public records.

90029 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,200,000
Median List Price/Sq.Ft.
$794
Median Sold Price
$1,049,000
Median Sold Price/Sq.Ft.
$1,042
Total Inventory
35
Median Sale to List Price %
95.36%
Avg Days on Market
38
Loan Type
Conventional (60%), FHA (0%), VA (0%), Cash (0%), Other (0%)

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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