View Photos

1416 N Martel Ave Los Angeles, CA 90046

$2,150,000 Sold Price as of 06/26/2019

35 Beds
35 Baths
6,136 Sq.Ft.

Sold

$2,150,000 Sold Price as of 06/26/2019 Refinance Your Mortgage

Map preview of 1416 N Martel Ave, Los Angeles, CA 90046

Property Overview: 1416 N Martel Ave Los Angeles, CA has 35 bedrooms, 35 bathrooms, 6,136 living square feet and 6,901 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Central Realty Advisors is pleased to present this 6 Unit apartment building, located at 1416 N. Martel, in Hollywood, one of the most in-demand markets in Los Angeles. The property was built in 1962, consists of 2 stories and features on-site gated parking for all units. The unit mix consists of 4 two-bedroom/two-bathroom units, and 2 one-bedroom/one-bathroom units. The units feature balconies, and there is a communal patio for all tenants in the rear of the property. This property presents an opportunity for an investor to reposition this asset to achieve a +/- 7% Cap Rate with rents at market and to further benefit from continuously rising rents, and accelerated appreciation in this established and growing market.

Listed by Elijah Korobkin | BRE #02068521 | Central Realty Advisors Inc

Last checked: 3 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 105

Home details

Lot Sq. Ft: 6,901
HOA Dues: $0/mo
Year built: 1962
Garage: --
Property Type:: Multi Family

Status: Sold
MLS#: 19440526
City: Los Angeles
County: Los Angeles
Time on Site: 1223 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 6
Total # of Buildings: 1

Unit Breakdown 1

# of Units: 1
# of Beds: 2
# of Baths: 2
Furnishing: Unfurnished
Actual Rent: $1,333
Total Rent: $1,333
Pro Forma/Market Rent: $2,995

Unit Breakdown 2

# of Units: 2
# of Beds: 1
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,366
Total Rent: $1,366
Pro Forma/Market Rent: $2,350

Unit Breakdown 3

# of Units: 3
# of Beds: 2
# of Baths: 2
Furnishing: Unfurnished
Actual Rent: $2,185
Total Rent: $2,185
Pro Forma/Market Rent: $2,995

Unit Breakdown 4

# of Units: 4
# of Beds: 2
# of Baths: 2
Furnishing: Unfurnished
Actual Rent: $1,335
Total Rent: $1,335
Pro Forma/Market Rent: $2,995

Unit Breakdown 5

# of Units: 5
# of Beds: 1
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,460
Total Rent: $1,460
Pro Forma/Market Rent: $2,350

Unit Breakdown 6

# of Units: 6
# of Beds: 2
# of Baths: 2
Furnishing: Unfurnished
Actual Rent: $2,227
Total Rent: $2,227
Pro Forma/Market Rent: $2,995

Multi-Family Income/Expense Information

Property Income and Analysis

Cap Rate: 3.55%
Gross Rent Multiplier: 17.5
Gross Scheduled Income: --
Net Operating Income: $73,239
Gross Operating Income: $118,905
Improvements Total: $172,601

Annual Expense Breakdown

Total Operating Expense: --

Property Details for 1416 N Martel Ave

Interior Features

Cooling Information

Has Cooling
See Remarks

Laundry Information

Has Laundry
See Remarks

Lot Details / Garage and Parking

Parking/Garage Information

Has Parking
Parking Features: Carport

Property Information

Total # of Units: 6
Parcel Number: 5550018011

Location / Neighborhood

Location Information

Directions: North of Fountain Ave, South of Sunset Blvd, East of N Vista St, West of N Fuller Ave.

View more facts & features

Local Los Angeles Agent

Sale History for 1416 N Martel Ave

Last leased for $2,395 on August 16th, 2021

August, 2021
Aug 16, 2021

Date

Leased

CRMLS: 21747704

$2,395

Price
Jun 11, 2021

Date

Active

CRMLS: 21747704

$2,395

Price
Listing provided courtesy of CRMLS

**2 Weeks Free Rent On Approved Credit** Available Now!! *Top Floor Unit *2 bedrooms*2 bathroom*Carpet throughout*Central AC*1 Parking Space Included*On-site laundry **Appliances: Stove

Continue Reading
June, 2021
Jun 11, 2021

Date

Leased

CRMLS: 20653352

$2,195

Price
May 28, 2021

Date

Price Change

CRMLS: 20653352

$2,195

Price
Mar 1, 2021

Date

Price Change

CRMLS: 20653352

$2,095

Price
Feb 4, 2021

Date

Price Change

CRMLS: 20653352

$2,295

Price
Oct 29, 2020

Date

Active

CRMLS: 20653352

$2,395

Price
Listing provided courtesy of CRMLS

Available Now!! **One Month Free Rent On Approved Credit!!** *2 bedrooms*2 bathroom*Carpet throughout*Central AC*1 Parking Space Included*On-site laundry Appliances: Stove

Continue Reading
January, 2021
Jan 26, 2021

Date

Leased

CRMLS: 21676436

$1,450

Price
Jan 6, 2021

Date

Active

CRMLS: 21676436

$1,450

Price
Listing provided courtesy of CRMLS

*1 bedroom *1 bathroom *Stove *AC Wall Unit *Wall heater *1 Parking Space Assigned *On-site laundry

Continue Reading
June, 2019
Jun 26, 2019

Date

Sold

CRMLS: 19440526

$2,150,000

Price
Jun 18, 2019

Date

Pending

CRMLS: 19440526

$2,100,000

Price
Mar 5, 2019

Date

Active

CRMLS: 19440526

$2,100,000

Price
May, 2019
May 6, 2019

Date

Sold (Public Records)

Public Records

$2,150,000

Price
February, 2015
Feb 20, 2015

Date

Sold (Public Records)

Public Records

--

Price

Tax History for 1416 N Martel Ave

Assessed Value (2020): $2,193,000

Year	Land Value	Improved Value	Assessed Value
2020	$1,530,000	$663,000	$2,193,000

Home Value Compared to the Market

This property vs the competition

1416 N Martel Ave sold on June 26, 2019 for 76.47% 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 $342.24 per/sqft which puts the price per square foot 54.67% lower than the current median sale per square foot for the city of Los Angeles.

About 1416 N Martel Ave

Detailed summary of property

1416 N Martel Ave is a multi family that recently sold in Los Angeles, CA 90046. This multi family property offered 35 bedrooms, 35 bathrooms, roughly 6,136 living square feet, and sits on an approximately 6,901 square foot lot. 1416 N Martel Ave was first listed on ArdentRealEstateGroup.com on January 13, 2021. The homeowner sold the property for $2,150,000. 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 76.47% higher than the current median priced home. Local homes that are currently for sale include 445 N Spaulding Ave, 6416 La Mirada Ave and 6821 Whitley Terrace. While the average home in Los Angeles, CA is selling in 92 days, 1416 N Martel Ave has a days on market of 105 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 1416 N Martel Ave Los Angeles, CA 90046 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1416 N Martel Ave

Public county record property details

Beds: 10
Baths: 10
Year built: 1962
Sq. Ft.: 6,136
Lot Size: 6,901
Stories: --

Type: Apartment House (5+ Units)
Pool: No
Spa: No
County: Los Angeles
Lot#: 27
APN: 5550-018-011

The source for these homes facts are from public records.

90046 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$1,965,000

Median List Price/Sq.Ft.

$938

Median Sold Price

$2,000,000

Median Sold Price/Sq.Ft.

$856

Total Inventory

231

Median Sale to List Price %

117.72%

Avg Days on Market

Loan Type

Conventional (2.7%), FHA (0%), VA (0%), Cash (13.51%), Other (2.7%)

Thinking of Selling?

Is this your property?
Thinking of Selling?
Call, Text or Message

(714) 706-1823

Homes for Sale Near 1416 N Martel Ave

Nearby Homes for Sale

7401 Fountain Ave, Los Angeles, CA 90046

Recently Sold Homes Near 1416 N Martel Ave

1412 N Martel Ave, Los Angeles, CA 90046

$2,450,000 Last Sold Price

9 Beds

9 Baths

6282 Sq.Ft.

1412 N Martel Ave
Los Angeles, CA 90046

1320 N Martel Ave, Los Angeles, CA 90046

$2,680,000 Last Sold Price

10 Beds

7 Baths

5678 Sq.Ft.

1320 N Martel Ave
Los Angeles, CA 90046

$2,000,000 Last Sold Price

10 Beds

8 Baths

-- Sq.Ft.

1427 N Vista St
Los Angeles, CA 90046

$1,975,000 Last Sold Price

3 Beds

3 Baths

1251 Sq.Ft.

1316 N Vista St
Los Angeles, CA 90046

Related Resources to 1416 N Martel Ave

New Listings in 90046

Popular Zip Codes

Popular Cities

Other Los Angeles Resources

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.