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1422 W 29Th St Los Angeles, CA 90007

$1,100,000 Sold Price as of 09/13/2021

5 Beds
3 Baths
2,832 Sq.Ft.

Sold

$1,100,000 Sold Price as of 09/13/2021 Refinance Your Mortgage

Map preview of 1422 W 29Th St, Los Angeles, CA 90007

Property Overview: 1422 W 29Th St Los Angeles, CA has 5 bedrooms, 3 bathrooms, 2,832 living square feet and 6,159 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: We are pleased to offer the opportunity to acquire this five (5) Bedroom + three (3) Bathroom student housing investment opportunity, located in the DPS Patrol Zone, and just blocks to the University of Southern California (USC). The subject property was completely updated and remodeled in 2019, and features hardwood floors, granite counter-tops, stainless steel kitchen appliances, and in-unit washer & dryer. The property is approximately 2,832 rentable square feet on a 6,158 square foot lot, and presents an excellent value-add opportunity to construct an ADU, and further increase cash flow. (Buyer to verify)The investment is 100% occupied with USC students and fully leased for the 2021-2022 academic school year. Combined with parental guarantees on leases and occupancy levels routinely achieving 100% for the school year, the asset represents a low-risk investment that is poised for continued growth and excellent operating fundamentals.

Listed by Davis Saadian | BRE #01921748 | Keller Williams Beverly Hills
Co-listed by Adam Shamooelian | BRE #02116849 | Keller Williams Beverly Hills

Last checked: 8 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 42

Home details

Lot Sq. Ft: 6,159
HOA Dues: $0/mo
Year built: 1904
Garage: --
Property Type:: Multi Family

Status: Sold
MLS#: 21767734
City: Los Angeles
County: Los Angeles
Time on Site: 1022 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 2
Total # of Buildings: 1

Unit Breakdown 1

# of Units: 1
# of Beds: 5
# of Baths: 3
Furnishing: Unfurnished
Actual Rent: $5,270
Total Rent: $5,270
Pro Forma/Market Rent: $6,000

Multi-Family Income/Expense Information

Property Income and Analysis

Gross Rent Multiplier: 15.15
Gross Scheduled Income: --
Net Operating Income: $47,430
Gross Operating Income: $63,240

Annual Expense Breakdown

Total Operating Expense: --

Property Details for 1422 W 29Th St

Interior Features

Laundry Information

Has Laundry
Washer Included

Kitchen Information

Has Appliances
Dishwasher, Disposal, Microwave, Refrigerator

Lot Details / Garage and Parking

Property Information

Total # of Units: 2
Parcel Number: 5054037010

Location / Neighborhood

Location Information

Directions: 1422 W. 29th Street, LA 90007

View more facts & features

Local Los Angeles Agent

Sale History for 1422 W 29Th St

Last sold for $1,100,000 on September 13th, 2021

September, 2021
Sep 13, 2021

Date

Sold

CRMLS: 21767734

$1,100,000

Price
Aug 2, 2021

Date

Active

CRMLS: 21767734

$1,200,000

Price
August, 2016
Aug 10, 2016

Date

Sold (Public Records)

Public Records

$748,500

Price
June, 2016
Jun 29, 2016

Date

Sold (Public Records)

Public Records

--

Price

Tax History for 1422 W 29Th St

Assessed Value (2020): $794,313

Year	Land Value	Improved Value	Assessed Value
2020	$477,543	$316,770	$794,313

Home Value Compared to the Market

This property vs the competition

1422 W 29Th St sold on September 13, 2021 for 0.84% 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 $423.73 per/sqft which puts the price per square foot 43.88% lower than the current median sale per square foot for the city of Los Angeles.

About 1422 W 29Th St

Detailed summary of property

1422 W 29Th St is a multi family that recently sold in Los Angeles, CA 90007. This multi family property offered 5 bedrooms, 3 bathrooms, roughly 2,832 living square feet, and sits on an approximately 6,159 square foot lot. 1422 W 29Th St was first listed on ArdentRealEstateGroup.com on August 2, 2021. The homeowner sold the property for $1,100,000. 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 0.84% higher than the current median priced home. Local homes that are currently for sale include 1256 W 22nd St, 1744 W 23rd St and 1492 W 35th Pl. While the average home in Los Angeles, CA is selling in 92 days, 1422 W 29Th St has a days on market of 42 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 1422 W 29Th St Los Angeles, CA 90007 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1422 W 29Th St

Public county record property details

Beds: 3
Baths: 2
Year built: 1904
Sq. Ft.: 2,832
Lot Size: 6,158
Stories: --

Type: Single Family Residential
Pool: No
Spa: No
County: Los Angeles
Lot#: 23
APN: 5054-037-010

The source for these homes facts are from public records.

90007 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$1,198,999

Median List Price/Sq.Ft.

$616

Median Sold Price

$710,000

Median Sold Price/Sq.Ft.

$645

Total Inventory

Median Sale to List Price %

94.79%

Avg Days on Market

Loan Type

Conventional (0%), FHA (0%), VA (0%), Cash (0%), 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.