1408 N Las Palmas Ave Los Angeles, CA 90028

$1,350,000 Sold Price as of 10/20/2020

6 Beds
6 Baths
3,432 Sq.Ft.

Off Market

$1,350,000 Sold Price as of 10/20/2020 Refinance Your Mortgage

Map preview of 1408 N Las Palmas Ave, Los Angeles, CA 90028

Property Overview: 1408 N Las Palmas Ave Los Angeles, CA has 6 bedrooms, 6 bathrooms, 3,432 living square feet and 7,144 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Home Value Compared to the Market

1408 N Las Palmas Ave 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 $1,235,000. The median price per/sqft for Los Angeles is $774. 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 $247,000 for the down payment and will need roughly $24,700 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 $59,500. 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 1408 N Las Palmas Ave

Last sold for $1,350,000 on October 20th, 2020

October, 2020
Oct 20, 2020

Date

Sold (Public Records)

Public Records

$1,350,000

Price
October, 2020
Oct 1, 2020

Date

Expired

CRMLS: 20570592

$1,350,000

Price
Sep 3, 2020

Date

Withdrawn

CRMLS: 20570592

$1,350,000

Price
Jun 17, 2020

Date

Price Change

CRMLS: 20570592

$1,350,000

Price
Apr 20, 2020

Date

Active

CRMLS: 20570592

$1,395,000

Price
Apr 16, 2020

Date

Pending

CRMLS: 20570592

$1,395,000

Price
Apr 13, 2020

Date

Active

CRMLS: 20570592

$1,395,000

Price
Listing provided courtesy of CRMLS

SELLER FINANCING AVAILABLE. 1408 N Las Palmas is a lender-owned REO, six-unit apartment building situated in the Hollywood neighborhood of Los Angeles. The 1957 built property constructed of wood-frame and stucco is a two-story walk-up with open parking in the rear, one parking space per unit. Units are individually metered for electricity and gas, and all of the units are one-bedrooms with one-bathroom. One unit will be delivered vacant, and five units are occupied.The seller would consider providing upwards of two years of interest only financing at a maximum of 70% LTV to qualified buyers. There is a potential to redevelop the property into either an apartment building or a small lot subdivision. According to public records the lot size is 7,145.1 square feet and the zoning is RD 1.5-1XL and situated in a TOC Tier 3 zone. With a Walk Score of 96, the property is within walking distance to shops, dining, entertainment, and employment opportunities.

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February, 2020
Feb 18, 2020

Date

Sold (Public Records)

Public Records

--

Price
September, 2018
Sep 26, 2018

Date

Sold

CRMLS: 18306394

$1,345,000

Price
Jun 19, 2018

Date

Pending

CRMLS: 18306394

$1,350,000

Price
Jun 13, 2018

Date

Price Change

CRMLS: 18306394

$1,350,000

Price
Apr 25, 2018

Date

Price Change

CRMLS: 18306394

$1,550,000

Price
Mar 10, 2018

Date

Pending

CRMLS: 18306394

$1,625,000

Price
Feb 9, 2018

Date

Active

CRMLS: 18306394

$1,625,000

Price
Listing provided courtesy of CRMLS

New price! Opportunity knocks for investors or developers - prime 6 unit building in the heart of Hollywood's revitalization area. Owner prefers subject be sold with adjacent property at 1414 N Las Palmas Ave (Duplex), combining for over 14,000 sq ft of LARD1.5 zoned flat land. All units are 1 BD, 1 BA and one unit will be delivered vacant. Large rear parking area for 6+ cars. Incredible location just steps from billions of dollars in Hollywood's new development, boutique hotels, popular restaurants, nightlife venues and The Arclight.

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September, 2018
Sep 26, 2018

Date

Sold

CRMLS: 18308558

$2,595,000

Price
Jun 19, 2018

Date

Pending

CRMLS: 18308558

$2,595,000

Price
Jun 13, 2018

Date

Price Change

CRMLS: 18308558

$2,595,000

Price
Apr 25, 2018

Date

Price Change

CRMLS: 18308558

$2,895,000

Price
Mar 10, 2018

Date

Pending

CRMLS: 18308558

$2,995,000

Price
Feb 7, 2018

Date

Active

CRMLS: 18308558

$2,995,000

Price
Listing provided courtesy of CRMLS

New price - act now! Two adjacent properties at 1408 + 1414 N Las Palmas Ave combine for a spectacular large flat 14,289 sq ft lot zoned LARD1.5 in one of the best areas of Hollywood. With incredible development potential for small lot homes, adding units or re-positioning the current properties, the existing charming duplex (1414) includes a spacious 2BD + 1BA (delivered vacant) and 1BD + Den ($1,544) with wood floors and high ceilings and 6 unit building (1408) includes all 1BD units bringing in $4,154 per mo with one unit delivered vacant. Potential for 8-9 small lot homes (buyer to verify). Collect rents until permits are ready. Properties must close concurrently. Billions of dollars are being spent up the street on Sunset and Hollywood Blvd including the new Netflix, Viacom and Columbia Square buildings. Steps to the Walk of Fame, Red Line, The Arclight and 1.4 MILLION sq ft of proposed space for the Crossroads of the World Project.

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Tax History for 1408 N Las Palmas Ave

Assessed Value (2020): $1,373,040

Year	Land Value	Improved Value	Assessed Value
2020	$963,900	$409,140	$1,373,040

About 1408 N Las Palmas Ave

Detailed summary of property

1408 N Las Palmas Ave is categorized with a use code of Apartment House (5+ Units) in Los Angeles, CA 90028 and last sold on October 20, 2020 for $1,350,000. This property has 6 bedrooms, 6 bathrooms, roughly 3,432 living square feet, and sits on an approximately 7,144 square foot lot. Homes 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 13.45% higher than the current median priced home. 1408 N Las Palmas Ave was last sold on October 20, 2020 for $1,350,000. Local nearby listings include 1411 N Detroit St #306, 1319 N Detroit St #Penthouse 3 and 6516 Barton Ave. The average home in Los Angeles, CA is selling in 94 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. If you are the homeowner and looking to sell the home at 1408 N Las Palmas Ave Los Angeles, CA 90028 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1408 N Las Palmas Ave

Public county record property details

Beds: 6
Baths: 6
Year built: 1957
Sq. Ft.: 3,432
Lot Size: 7,144
Stories: --

Type: Apartment House (5+ Units)
Pool: No
Spa: No
County: Los Angeles
Lot#: 49
APN: 5547-023-021

The source for these homes facts are from public records.

90028 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$1,195,000

Median List Price/Sq.Ft.

$690

Median Sold Price

$752,000

Median Sold Price/Sq.Ft.

$470

Total Inventory

Median Sale to List Price %

83.65%

Avg Days on Market

197

Loan Type

Conventional (0%), FHA (0%), VA (0%), Cash (0%), Other (100%)

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