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1300 S Van Ness Ave, Los Angeles, CA 90019
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1300 S Van Ness Ave Los Angeles, CA 90019

$1,855,000 Sold Price as of 06/13/2022
  • 16 Beds
  • 8 Baths
  • 11,234 Sq.Ft.
Sold
$1,855,000 Sold Price as of 06/13/2022 Refinance Your Mortgage
Map preview of 1300 S Van Ness Ave, Los Angeles, CA 90019

Property Overview: 1300 S Van Ness Ave Los Angeles, CA has 16 bedrooms, 8 bathrooms, 11,234 living square feet and 10,507 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Attention 1031 and Value-Add Opportunity Investors, Developers and Owner-Users. First time on the market in more than 30 years! This is a rare opportunity to acquire a value-add investment with the future potential to develop a mix-use, multi-story complex. This mixed-use investment consists of 2, 4-unit apartment buildings and an approximately 1,782 sq. ft. retail building. All three buildings are situated on a 10,506 sq. ft. corner parcel zoned C2-2D-O-CPIO, Tier 2 City of Los Angeles. The first 4 plex is located at 1300 S. Van Ness Ave, then adjacent to the east at 3284 Pico Blvd is a single-story retail building, the third building to the east, is the second 4 plex which also fronts Pico Blvd. The two-apartment buildings total 9,456 sq. ft., which would indicate the average square footage is about 1,100 sq. ft per unit. The property is fully occupied, with as much as 65% or more in upside rent potential. The retail tenant is on a month-to-month tenancy and for the savvy investor could create an owner user scenario. The buildings have limited parking. There is a driveway that has access from Van Ness Ave. This location provides the tenants easy access to the surrounding areas including Country Club Park, Koreatown, and Downtown.

Listed by D. Timothy Byrne | BRE #01186465 | Compass
Last checked: 12 minutes ago | Last updated: April 16th, 2024 | Source CRMLS | DOM: 21

Home details

Lot Sq. Ft
10,507
HOA Dues
$0/mo
Year built
1946
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
22140089
City
Los Angeles
County
Los Angeles
Time on Site
781 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 9
  • Total # of Buildings: 3
Unit Breakdown 1
  • # of Units: 2
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,122
  • Total Rent: $2,244
  • Pro Forma/Market Rent: $1,700
Unit Breakdown 2
  • # of Units: 2
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,240
  • Total Rent: $2,480
  • Pro Forma/Market Rent: $1,700
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 0
  • Furnishing: Unfurnished
  • Actual Rent: $1,232
  • Total Rent: $1,232
  • Pro Forma/Market Rent: $2,673
Unit Breakdown 4
  • # of Units: 2
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,150
  • Total Rent: $2,301
  • Pro Forma/Market Rent: $2,000
Unit Breakdown 5
  • # of Units: 2
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,151
  • Total Rent: $2,302
  • Pro Forma/Market Rent: $2,000
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 2.75%
  • Gross Rent Multiplier: 19.7
  • Gross Scheduled Income: --
  • Net Operating Income: $68,395
  • Gross Operating Income: $126,711
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 1300 S Van Ness Ave

Interior Features
Cooling Information
  • No Cooling
  • None
Heating Information
  • No Heating
  • None
Kitchen Information
  • Has Appliances
Lot Details / Garage and Parking
Parking/Garage Information
  • No
  • Parking Features: None
Property Information
  • Total # of Units: 9
  • Parcel Number: 5073002020
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: East of Arlington Ave, West of Western on Pico Blvd
View more facts & features

Local Los Angeles Agent

Sale History for 1300 S Van Ness Ave

Last sold for $1,855,000 on June 13th, 2022

  • June, 2022

  • Jun 13, 2022

    Date

    Sold

    CRMLS: 22140089

    $1,855,000

    Price

  • Mar 25, 2022

    Date

    Active

    CRMLS: 22140089

    $2,495,000

    Price

  • January, 2007

  • Jan 8, 2007

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 1300 S Van Ness Ave

Assessed Value (2020): $157,091
Year Land Value Improved Value Assessed Value
2020 $69,241 $87,850 $157,091

Home Value Compared to the Market

This property vs the competition

1300 S Van Ness Ave sold on June 13, 2022 for 109.66% 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 $222.09 per/sqft which puts the price per square foot 70.58% lower than the current median sale per square foot for the city of Los Angeles.

About 1300 S Van Ness Ave

Detailed summary of property

1300 S Van Ness Ave is a multi family that recently sold in Los Angeles, CA 90019. This multi family property offered 16 bedrooms, 8 bathrooms, roughly 11,234 living square feet, and sits on an approximately 10,507 square foot lot. 1300 S Van Ness Ave was first listed on ArdentRealEstateGroup.com on March 25, 2022. The homeowner sold the property for $1,855,000. 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 109.66% higher than the current median priced home. Local homes that are currently for sale include 1144 S Kingsley Dr, 2404 5th Ave and 1722 Crenshaw Blvd. While the average home in Los Angeles, CA is selling in 94 days, 1300 S Van Ness Ave has a days on market of 21 days. There are currently 3654 homes for sale in the Los Angeles real estate market and 2456 of them are single family homes while 1102 of them are condos and 90 are townhomes. For more information on this home for sale at 1300 S Van Ness Ave Los Angeles, CA 90019 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1300 S Van Ness Ave

Public county record property details
Beds
--
Baths
--
Year built
1946
Sq. Ft.
11,234
Lot Size
10,506
Stories
1
Type
Commercial/Office/Residential (Mixed Use)
Pool
No
Spa
No
County
Los Angeles
Lot#
39
APN
5073-002-020

The source for these homes facts are from public records.

90019 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,599,800
Median List Price/Sq.Ft.
$696
Median Sold Price
$1,620,000
Median Sold Price/Sq.Ft.
$777
Total Inventory
66
Median Sale to List Price %
95.58%
Avg Days on Market
21
Loan Type
Conventional (18.18%), FHA (0%), VA (0%), Cash (9.09%), Other (9.09%)

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Recently Sold Homes Near 1300 S Van Ness Ave

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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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