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1406 Albany St Los Angeles, CA 90015

$999,999 Sold Price as of 07/08/2021

8 Beds
4 Baths
4,044 Sq.Ft.

Sold

$999,999 Sold Price as of 07/08/2021 Refinance Your Mortgage

Map preview of 1406 Albany St, Los Angeles, CA 90015

Property Overview: 1406 Albany St Los Angeles, CA has 8 bedrooms, 4 bathrooms, 4,044 living square feet and 6,002 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: EXCELLENT VALUE-ADD INVESTMENT IN OPPORTUNITY ZONE! This spacious Craftsman-style 4-plex with great curb appeal consists of 4 large 1 bedroom and 1 bathroom units that are currently being used as 2 bedrooms. Each unit is about 1,000sf. Two units will be delivered VACANT. Fantastic location near Convention Center, LA Live, Staples Center and Downtown LA. It provides huge upside potential in rents and low maintenance. The units are separately metered for gas and electricity. Each unit has its own water heater. There are detached 5 one-car garages in the back of the property. Additional income $300/month for 2 garages. The property is based in Opportunity Zone providing numerous tax benefits. It is located in fast growing neighborhood near Downtown LA Live Hub, USC, public transportation, metro lines, schools, libraries, hospitals, shopping & entertainment. Easy freeway access. Drive by only, offers subject to interior inspection. Please DO NOT disturb tenants.

Listed by Gabriela Manakova | BRE #01327946 | Innovative Property Strategies

Last checked: 8 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 302

Home details

Lot Sq. Ft: 6,002
HOA Dues: $0/mo
Year built: 1917
Garage: 5 Car
Property Type:: Multi Family

Status: Sold
MLS#: 20613898
City: Los Angeles
County: Los Angeles
Time on Site: 1345 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 4
Total # of Buildings: 1

Unit Breakdown 1

# of Units: 1
# of Beds: 2
# of Baths: 1
Furnishing: Unfurnished
Total Rent: $0
Pro Forma/Market Rent: $1,950

Unit Breakdown 2

# of Units: 1
# of Beds: 2
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $867
Total Rent: $10,404
Pro Forma/Market Rent: $2,050

Unit Breakdown 3

# of Units: 1
# of Beds: 2
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,490
Total Rent: $17,880
Pro Forma/Market Rent: $1,700

Unit Breakdown 4

# of Units: 1
# of Beds: 2
# of Baths: 1
Furnishing: Unfurnished
Total Rent: $0
Pro Forma/Market Rent: $2,050

Multi-Family Income/Expense Information

Property Income and Analysis

Gross Rent Multiplier: 13.5
Gross Scheduled Income: --
Net Operating Income: $59,796
Gross Operating Income: $79,884

Annual Expense Breakdown

Total Operating Expense: --

Virtual Tour

Use the following link to view this property's virtual tour:

Virtual Tour URL (external link)

Property Details for 1406 Albany St

Interior Features

Laundry Information

Has Laundry
See Remarks

Lot Details / Garage and Parking

Parking/Garage Information

# of Garage Spaces: 5
# of Parking Spaces: 5
Has Parking
Parking Features: Private

Lot Information

Lot Size Source: Assessor

Property Information

Total # of Units: 4
Parcel Number: 5135030002
Architectural Style: Craftsman

Location / Neighborhood

Location Information

Directions: South of Pico Blvd, North of Venice Blvd, West of 110 Fwy, East of Union Ave

View more facts & features

Local Los Angeles Agent

Sale History for 1406 Albany St

Last sold for $999,999 on July 8th, 2021

July, 2021
Jul 14, 2021

Date

Sold

CRMLS: 20613898

$999,999

Price
Jun 4, 2021

Date

Pending

CRMLS: 20613898

$999,999

Price
Apr 20, 2021

Date

Price Change

CRMLS: 20613898

$999,999

Price
Feb 17, 2021

Date

Active

CRMLS: 20613898

$1,079,000

Price
Feb 3, 2021

Date

Active Under Contract

CRMLS: 20613898

$1,079,000

Price
Aug 5, 2020

Date

Active

CRMLS: 20613898

$1,079,000

Price
May, 2020
May 28, 2020

Date

Canceled

CRMLS: 19527918

$1,099,995

Price
Jan 24, 2020

Date

Price Change

CRMLS: 19527918

$1,099,995

Price
Nov 7, 2019

Date

Active

CRMLS: 19527918

$1,195,000

Price
Listing provided courtesy of CRMLS

EXCELLENT VALUE-ADD INVESTMENT IN OPPORTUNITY ZONE! This terrific well maintained Craftsman-style 4-plex with great curb appeal consists of 4 large 1 bedroom and 1 bathroom units that are currently being used as 2 bedrooms. Each unit is about 1,000sf. Fantastic location near Convention Center, LA Live, Staples Center and Downtown LA. It provides huge almost 35% upside potential in rents and low maintenance. The units are separately metered for gas and electricity. Each unit has its own water heater. There are detached 5 one-car garages in the back of the property. Additional income $300/month for 2 garages. The property is based in Opportunity Zone providing numerous tax benefits. It is located in fast growing neighborhood near Downtown LA Live Hub, USC, public transportation, new metro lines, schools, libraries, hospitals, shopping centers, entertainment and provides easy access to 10 and 110 freeways. Drive by only, offers subject to interior inspection. Please DO NOT disturb tenants

Continue Reading
January, 2010
Jan 21, 2010

Date

Sold (Public Records)

Public Records

$276,000

Price
August, 2009
Aug 7, 2009

Date

Sold (Public Records)

Public Records

$409,700

Price

Tax History for 1406 Albany St

Assessed Value (2020): $325,750

Year	Land Value	Improved Value	Assessed Value
2020	$236,053	$89,697	$325,750

Home Value Compared to the Market

This property vs the competition

1406 Albany St sold on July 8, 2021 for 10.71% lower than the current median sold price for the city of Los Angeles which is $1,120,000. The median sold price per/sqft for Los Angeles is $724 and this home is sold at $247.28 per/sqft which puts the price per square foot 65.85% lower than the current median sale per square foot for the city of Los Angeles.

About 1406 Albany St

Detailed summary of property

1406 Albany St is a multi family that recently sold in Los Angeles, CA 90015. This multi family property offered 8 bedrooms, 4 bathrooms, roughly 4,044 living square feet, and sits on an approximately 6,002 square foot lot. 1406 Albany St was first listed on ArdentRealEstateGroup.com on January 13, 2021. The homeowner sold the property for $999,999. Home 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 10.71% lower than the current median priced home. Local homes that are currently for sale include 1435 W 30th St, 182 E 35th St and 1689 W 24th St. While the average home in Los Angeles, CA is selling in 106 days, 1406 Albany St has a days on market of 302 days. There are currently 4052 homes for sale in the Los Angeles real estate market and 2782 of them are single family homes while 1148 of them are condos and 116 are townhomes. For more information on this home for sale at 1406 Albany St Los Angeles, CA 90015 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1406 Albany St

Public county record property details

Beds: 4
Baths: 4
Year built: 1917
Sq. Ft.: 4,044
Lot Size: 6,001
Stories: --

Type: Quadruplex (4 Units, Any Combination)
Pool: No
Spa: No
County: Los Angeles
Lot#: 2
APN: 5135-030-002

The source for these homes facts are from public records.

90015 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$745,000

Median List Price/Sq.Ft.

$704

Median Sold Price

$460,000

Median Sold Price/Sq.Ft.

$519

Total Inventory

Median Sale to List Price %

102.22%

Avg Days on Market

Loan Type

Conventional (50%), FHA (0%), VA (0%), Cash (25%), Other (0%)

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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.