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1421 Ridge Way Los Angeles, CA 90026

$1,050,000 Sold Price as of 02/10/2021

5 Beds
5 Baths
4,317 Sq.Ft.

Sold

$1,050,000 Sold Price as of 02/10/2021 Refinance Your Mortgage

Map preview of 1421 Ridge Way, Los Angeles, CA 90026

Property Overview: 1421 Ridge Way Los Angeles, CA has 5 bedrooms, 5 bathrooms, 4,317 living square feet and 6,393 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Probate, Subject to Court Confirmation. Accepted offer is $1,050,000. Minimum overbid will be $1,103,000 on Thursday 1/7/21 at 8:30 a.m. in Dept 79 in Los Angeles Superior Court at 111 N. Hill Street. Character rich 5 unit, early 1900's multi-residential property in the heart of historic Angelino Heights HPOZ Zone. Ideal for investor or owner-user who wants to manage themselves to save current management fees. Below market rents gives buyer tremendous upside potential for income growth. With Echo Park on one side and Downtown Los Angeles on the other, this property shows both charm and character. Residents enjoy myriad dining, nightlife and recreation offerings, including Dodger Stadium, Elysian Park hiking trails and Echo Park Lake. Close to the business hubs of Downtown and Hollywood. Set back on a knoll overlooking the street, this property has been recently upgraded. The main 2-story building has a new roof and has been recently painted. It has 4 units, all 1 bedroom, 1 bath with direct access to exterior. This building includes a beautifully renovated owner’s unit. If that weren’t enough, this great property also features a stand-alone , quaint 1 bedroom, 1 bath cottage ideal for owner/user or premium tenant. Echo Park has been called the trendiest neighborhood in Los Angeles, and Angelino Heights is an architectural jewel within this area. This is a rare opportunity to own a fabulous income property in one of the hottest markets in Los Angeles.

Listed by Anngel Benoun | BRE #01014735 | Dilbeck Real Estate
Co-listed by Randye Saunders | BRE #01333050 | Dilbeck Real Estate

Last checked: 7 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 110

Home details

Lot Sq. Ft: 6,393
HOA Dues: $0/mo
Year built: 1911
Garage: --
Property Type:: Multi Family

Status: Sold
MLS#: SR20158670
City: Los Angeles
County: Los Angeles
Time on Site: 1265 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 5
Total # of Buildings: 2
# of Leased Units: 5
# of Electric Meters: 4
# of Gas Meters: 4
# of Water Meters: 0

Unit Breakdown 1

# of Units: 1
# of Beds: 1
# of Baths: 1
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,300
Total Rent: $1,300
Pro Forma/Market Rent: $2,350

Unit Breakdown 2

# of Units: 1
# of Beds: 1
# of Baths: 1
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,591
Total Rent: $1,591
Pro Forma/Market Rent: $2,200

Unit Breakdown 3

# of Units: 1
# of Beds: 1
# of Baths: 1
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $791
Total Rent: $791
Pro Forma/Market Rent: $2,200

Unit Breakdown 4

# of Units: 1
# of Beds: 1
# of Baths: 1
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $2,345
Total Rent: $2,345
Pro Forma/Market Rent: $2,345

Unit Breakdown 5

# of Units: 1
# of Beds: 1
# of Baths: 1
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $810
Total Rent: $810
Pro Forma/Market Rent: $2,200

Multi-Family Income/Expense Information

Property Income and Analysis

Cap Rate: 5.2%
Gross Rent Multiplier: --
Gross Scheduled Income: $78,178
Net Operating Income: $58,631
Gross Operating Income: $78,178

Annual Expense Breakdown

Total Operating Expense: $0
Electric: $0
Gas/Fuel: $0
Licenses: $459
New Taxes: $22,500
Trash: $0
Insurance: $1,340
Maintenance: $4,080
Professional Management: $9,000
Water/Sewer: $2,367
Other Expenses: $72

Virtual Tour

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

Virtual Tour URL (external link)

Property Details for 1421 Ridge Way

Interior Features

Cooling Information

Has Cooling
Wall/Window Unit(s)

Laundry Information

Has Laundry
See Remarks, Washer Hookup

Room Information

Flooring: See Remarks, Wood

Exterior Features

No Pool
Pool Features: None

Lot Details / Garage and Parking

Parking/Garage Information

No
Parking Features: Street

Lot Information

Lot Features: Landscaped, Up Slope from Street
Lot Size Source: Assessor
Common Interest: None

Property Information

Common Walls: 2+ Common Walls
Total # of Units: 5
Parcel Number: 5405009010
Year Built Source: Assessor
Property is Attached

Homeowners Association, Utilities, Taxes / Assessments

Utilities Information

Sewer: Unknown
Water Source: Public

Location / Neighborhood

Location Information

Directions: South of Sunset, West of Douglas

Neighborhood Information

Community Features: Urban

View more facts & features

Local Los Angeles Agent

Sale History for 1421 Ridge Way

Last sold for $1,050,000 on February 10th, 2021

February, 2021
Feb 11, 2021

Date

Sold

CRMLS: SR20158670

$1,050,000

Price
Jan 7, 2021

Date

Pending

CRMLS: SR20158670

$1,103,000

Price
Nov 30, 2020

Date

Price Change

CRMLS: SR20158670

$1,103,000

Price
Nov 30, 2020

Date

Active Under Contract

CRMLS: SR20158670

$1,350,000

Price
Nov 7, 2020

Date

Price Change

CRMLS: SR20158670

$1,350,000

Price
Sep 3, 2020

Date

Price Change

CRMLS: SR20158670

$1,500,000

Price
Aug 7, 2020

Date

Active

CRMLS: SR20158670

$1,800,000

Price
February, 2021
Feb 10, 2021

Date

Sold (Public Records)

Public Records

$1,050,000

Price
February, 2019
Feb 18, 2019

Date

Leased

CRMLS: 18396698

$2,300

Price
Jan 22, 2019

Date

Pending

CRMLS: 18396698

$2,295

Price
Jan 2, 2019

Date

Price Change

CRMLS: 18396698

$2,295

Price
Dec 11, 2018

Date

Price Change

CRMLS: 18396698

$2,595

Price
Oct 31, 2018

Date

Active

CRMLS: 18396698

$2,995

Price
Oct 28, 2018

Date

Canceled

CRMLS: 18396698

$2,995

Price
Oct 14, 2018

Date

Active

CRMLS: 18396698

$2,995

Price
Listing provided courtesy of CRMLS

REDUCED !! OWNER IS VERY MOTIVATED TO GET THIS UNIT RENTED !! Truly A Beautifully Remodeled 1 Bed 1 Bath Apartment in South of Sunset Historical Angelino Heights Neighborhood. Close to Echo Park, Silverlake, Transportation, Downtown LA, and Dodger Stadium. All New-Paint inside and out, kitchen and bath remodeled, new grey laminate flooring throughout. Must See! New Washer and Dryer.

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Tax History for 1421 Ridge Way

Assessed Value (2020): $73,245

Year	Land Value	Improved Value	Assessed Value
2020	$32,924	$40,321	$73,245

Home Value Compared to the Market

This property vs the competition

1421 Ridge Way sold on February 10, 2021 for 2.39% lower than the current median sold price for the city of Los Angeles which is $1,130,000. The median sold price per/sqft for Los Angeles is $754 and this home is sold at $255.5 per/sqft which puts the price per square foot 66.11% lower than the current median sale per square foot for the city of Los Angeles.

About 1421 Ridge Way

Detailed summary of property

1421 Ridge Way is a multi family that recently sold in Los Angeles, CA 90026. This multi family property offered 5 bedrooms, 5 bathrooms, roughly 4,317 living square feet, and sits on an approximately 6,393 square foot lot. 1421 Ridge Way was first listed on ArdentRealEstateGroup.com on January 13, 2021. The homeowner sold the property for $1,050,000. Home in Los Angeles are selling for a median price of $1,130,000 and a median price per square foot of $754. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 2.39% lower than the current median priced home. Local homes that are currently for sale include 408 N La Fayette Park Pl, 2352 W 3rd St and 2733 Council St. While the average home in Los Angeles, CA is selling in 99 days, 1421 Ridge Way has a days on market of 110 days. There are currently 3982 homes for sale in the Los Angeles real estate market and 2673 of them are single family homes while 1195 of them are condos and 107 are townhomes. For more information on this home for sale at 1421 Ridge Way 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 1421 Ridge Way

Public county record property details

Beds: 5
Baths: 5
Year built: 1911
Sq. Ft.: 4,317
Lot Size: 6,392
Stories: --

Type: Apartment House (5+ Units)
Pool: No
Spa: No
County: Los Angeles
Lot#: 7
APN: 5405-009-010

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

$1,199,000

Median List Price/Sq.Ft.

$820

Median Sold Price

$1,540,000

Median Sold Price/Sq.Ft.

$1,098

Total Inventory

Median Sale to List Price %

110.39%

Avg Days on Market

Loan Type

Conventional (18.18%), FHA (0%), VA (0%), Cash (9.09%), Other (18.18%)

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(714) 706-1823

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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.