1401 Portia St Los Angeles, CA 90026

$1,350,000 Sold Price as of 08/31/2018

7 Beds
4 Baths
2,406 Sq.Ft.

Off Market

$1,350,000 Sold Price as of 08/31/2018 Refinance Your Mortgage

Map preview of 1401 Portia St, Los Angeles, CA 90026

Property Overview: 1401 Portia St Los Angeles, CA has 7 bedrooms, 4 bathrooms, 2,406 living square feet and 8,080 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Home Value Compared to the Market

1401 Portia St is currently an off market home in the city of Los Angeles. If you are considering making a home purchase, the value you pay for your home will depend on the market you're looking to purchase in. The city of Los Angeles has a median list price of $1,200,000. The median price per/sqft for Los Angeles is $771. With those numbers in mind, if you are looking to purchase a median priced home in Los Angeles, CA and put 20% down you will need to save up $240,000 for the down payment and will need roughly $24,000 for closing costs on top of the down payment. Homeowners who are looking to sell their home could expect to pay an average of 5% (2.5% to the listing agent and 2.5% to the buyers agent) in agent commissions when it comes to selling their home. With the median sale price for a home in Los Angeles the commission could be as much as $56,000. If you're thinking of selling and want to save, contact a local Ardent Real Estate Agent today.

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Sale History for 1401 Portia St

Last leased for $2,800 on September 18th, 2018

January, 2024
Jan 21, 2024

Date

Expired

CRMLS: CV23208352

$1,749,000

Price
Nov 9, 2023

Date

Active

CRMLS: CV23208352

$1,749,000

Price
Listing provided courtesy of CRMLS

Welcome to a remarkable opportunity in the heart of vibrant Echo Park! We are thrilled to introduce 1401 Portia Street, a property perfectly positioned just North of Sunset Boulevard and amid a burgeoning redevelopment wave. This exceptional property comprises (1) 2-Bed/2-Bath Stand-Alone Cottage, (1) 2-Bed/1-Bath Unit and (2) Spacious 1-Bed/1-Bath Units, all brimming with potential. For the astute long-term investor, the possibilities are boundless. You can choose to convert the existing three garages into ADU(s), unlocking additional income. Alternatively, explore the potential to construct 9+ units on this corner lot, thanks to its LARD1.5-VL zoning and enticing TOC Tier - 2 Incentives. Furthermore, one 1-Bed/1-Bath unit, which currently operates as a successful AIR-BNB rental, can be made vacant at the close of escrow, offering flexibility to the buyer. With a distinctive mid-century modern aesthetic that flows seamlessly from exterior to interior, this property exudes timeless charm. Whether you're a potential homeowner seeking to reside in one unit while reaping the benefits of rental income from the others, or an investor with your sights set on maximizing your portfolio through development or ADU conversions, this property is your canvas for success.

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July, 2023
Jul 12, 2023

Date

Expired

CRMLS: 23259225

$1,980,000

Price
Apr 11, 2023

Date

Active

CRMLS: 23259225

$1,980,000

Price
Listing provided courtesy of CRMLS

Only two blocks away from shops and restaurants and the second largest park in the city, 1401 Portia is an amazing investment opportunity. The property is located in a cozy neighborhood surrounded by other single and multi-family homes with plenty of street parking. The building has four units with the potential to add 2 ADUs with its 2-car garage as well as a fifth basement unit. Two of the four current units have been recently renovated and are being used for AIRBNB consistently bringing in 150% of current long term market rent, due to the properties amazing proximity to dodger stadium and other great venues in echo park. One of the units is being used for Section 8 low-income housing and another still needs to be renovated. Pro Forma after full renovations is estimated at $20,000 a month.

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July, 2023
Jul 11, 2023

Date

Expired

CRMLS: 23259417

$1,890,000

Price
Apr 12, 2023

Date

Active

CRMLS: 23259417

$1,980,000

Price
Listing provided courtesy of CRMLS

Only two blocks away from shops and restaurants and the secondlargest park in the city, 1401 Portia is an amazing investmentopportunity. The property is located in a cozy neighborhoodsurrounded by other single and multi family homes with plenty ofstreet parking. The building has four units with the potential to add2 ADUs with its 2 car garage as well as a fifth basement unit. Twoof the four current units have been recently renovated and arebeing used for AIRBNB consistently bringing in 150% of currentlong term market rent, due to the properties amazing proximity tododger stadium and other great venues in echo park. One of theunits is being used for Section 8 low income housing and anotherstill needs to be renovated. Pro Forma after full renovations isestimated at $20,000 a month.

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September, 2018
Sep 24, 2018

Date

Leased

CRMLS: 18377318

$2,800

Price
Sep 13, 2018

Date

Price Change

CRMLS: 18377318

$2,800

Price
Aug 19, 2018

Date

Active

CRMLS: 18377318

$3,000

Price
Listing provided courtesy of CRMLS

This two bed, two bath fully detached unit in Echo Park is now available! Beautifully remodeled with hardwood floors throughout, brand new stainless steel appliances including range/oven, refrigerator, dishwasher and microwave. Unit also includes central AC/Heating as well as a washer and dryer. You'll never have to worry about parking as this unit also has its own 1 car garage and an additional tandem parking spot just outside of the garage! Located just blocks away from Sunset Blvd where you will find some of the best restaurants and shops Echo Park has to offer. Come and see it today!

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August, 2018
Aug 31, 2018

Date

Sold

CRMLS: 18359424

$1,350,000

Price
Jul 25, 2018

Date

Active Under Contract

CRMLS: 18359424

$1,395,000

Price
Jun 27, 2018

Date

Active

CRMLS: 18359424

$1,395,000

Price
Listing provided courtesy of CRMLS

There are very very few quality income properties available in Prime Echo Park, but here is one for you! On the downside, there are two low rent tenants, one of whom (the 3/2) will probably not be leaving for some time. But the other one is on a waiting list for low income housing and will likely be gone within the year. These is also a newly renovated one bedroom getting market rent and another newly renovated two bed two bath that will fetch $3,000/mo once rented. Or, you can live in it! Finally, there is a half renovated two bed two bath basement (unpermitted) unit that is waiting for you to complete it. Without the basement unit, you are looking at a total of $7k/mo income right this minute. When the low income housing person moves out and you renovate that one, that will be another $1800/mo of income. The basement unit represents an additional $2500/mo of income (!) once you complete those renovations The location is fantastic and there is plenty of parking. Come get it!

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August, 2018
Aug 31, 2018

Date

Sold (Public Records)

Public Records

$1,350,000

Price
June, 2018
Jun 9, 2018

Date

Expired

CRMLS: 18321098

$1,649,000

Price
Apr 26, 2018

Date

Withdrawn

CRMLS: 18321098

$1,649,000

Price
Mar 9, 2018

Date

Active

CRMLS: 18321098

$1,649,000

Price
Listing provided courtesy of CRMLS

For the right buyer who knows what he/she is doing, this is an awesome opportunity. Where does one begin... first of all, the location is fantastic. Two blocks from all shops and restaurants on Sunset Blvd in one direction and two blocks from the second largest (Elysian) park in the city in the other, and surrounded by lovely single family and small multi-family homes. Secondly, you have 5 units (four of them legal) all of which except one being delivered vacant. Two of these are already fully renovated to a high quality with central heat and air, all appliances including dishwasher and in unit laundry hookups. There is plenty of parking - 8 cars in all. One unit will have a low rent section 8 in it, but another unit which still needs renovation will be a 2 bed and finally a very large 'bootleg' 2 bed 2 bath unit in the basement with full ceiling height. That unit is half-way renovated. Pro forma (including the low rent tenant) is about $12,000/mo once you've completed the renovations

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April, 2018
Apr 22, 2018

Date

Canceled

CRMLS: 18321680

$3,000

Price
Apr 13, 2018

Date

Hold

CRMLS: 18321680

$3,000

Price
Apr 13, 2018

Date

Active

CRMLS: 18321680

$3,000

Price
Apr 3, 2018

Date

Hold

CRMLS: 18321680

$3,000

Price
Mar 26, 2018

Date

Active

CRMLS: 18321680

$3,000

Price
Mar 16, 2018

Date

Hold

CRMLS: 18321680

$3,000

Price
Mar 14, 2018

Date

Active

CRMLS: 18321680

$3,000

Price
Listing provided courtesy of CRMLS
October, 2013
Oct 23, 2013

Date

Sold (Public Records)

Public Records

$750,000

Price

Tax History for 1401 Portia St

Assessed Value (2020): $1,380,000

Year	Land Value	Improved Value	Assessed Value
2020	$830,000	$550,000	$1,380,000

About 1401 Portia St

Detailed summary of property

1401 Portia St is categorized with a use code of Quadruplex (4 Units, Any Combination) in Los Angeles, CA 90026 and last sold on August 31, 2018 for $1,350,000. This property has 7 bedrooms, 4 bathrooms, roughly 2,406 living square feet, and sits on an approximately 8,080 square foot lot. Homes in Los Angeles are selling for a median price of $1,120,000 and a median price per square foot of $724. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 20.54% higher than the current median priced home. 1401 Portia St was last sold on August 31, 2018 for $1,350,000. Local nearby listings include 2013 Echo Park Ave, 2133 Branden St and 2005 Lemoyne St. The average home in Los Angeles, CA is selling in 106 days. There are currently 4139 homes for sale in the Los Angeles real estate market and 2834 of them are single family homes while 1183 of them are condos and 115 are townhomes. If you are the homeowner and looking to sell the home at 1401 Portia St Los Angeles, CA 90026 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1401 Portia St

Public county record property details

Beds: 7
Baths: 4
Year built: 1920
Sq. Ft.: 2,406
Lot Size: 8,080
Stories: --

Type: Quadruplex (4 Units, Any Combination)
Pool: No
Spa: No
County: Los Angeles
Lot#: 4
APN: 5406-006-035

The source for these homes facts are from public records.

90026 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$1,250,000

Median List Price/Sq.Ft.

$822

Median Sold Price

$1,217,000

Median Sold Price/Sq.Ft.

$985

Total Inventory

Median Sale to List Price %

101.5%

Avg Days on Market

Loan Type

Conventional (22.22%), FHA (0%), VA (0%), Cash (11.11%), Other (0%)

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