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1501 Scott Ave Los Angeles, CA 90026

$1,360,000 Sold Price as of 08/02/2023

5 Beds
4 Baths
3,488 Sq.Ft.

Sold

$1,360,000 Sold Price as of 08/02/2023 Refinance Your Mortgage

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Map preview of 1501 Scott Ave, Los Angeles, CA 90026

Property Overview: 1501 Scott Ave Los Angeles, CA has 5 bedrooms, 4 bathrooms, 3,488 living square feet and 8,222 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Character Echo Park triplex on a large corner lot with gorgeous views! This property consists of two structures - a detached 2 bedroom, 2 bathroom house (built in 1955, on Parmer Ave) and a duplex with one 2 bedroom, 1 bathroom unit and one 1 bedroom, 1 bathroom unit (built in 1906, on Scott Ave). Both 2-bedroom units have a bonus room which could be used as a den, office, or bedroom. Units have driveway parking, private outdoor patios, and basement storage space. Located in a trendy neighborhood of mostly single-family homes, this triplex is near such hot spots as Bacetti, Spirit House, Little Joy Bar and Echo Park Lake. LARD2 zoning may allow for an additional unit. Buyer to investigate. The one bedroom unit is currently vacant and ready for an owner to move in or rent at market rate. Investor's Offering Memorandum available in Document section or by request. Beautiful details include hardwood floors, coved ceilings, arched doorways, and ornate brass door hardware. A true gem!

Listed by Naomi Selick | BRE #01908101 | Douglas Elliman

Last checked: 7 minutes ago | Last updated: August 3rd, 2023 | Source CRMLS | DOM: 12

Home details

Lot Sq. Ft: 8,222
HOA Dues: $0/mo
Year built: 1906
Garage: --
Property Type:: Multi Family

Status: Sold
MLS#: 23275423
City: Los Angeles
County: Los Angeles
Time on Site: 378 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 3
Total # of Buildings: 2

Unit Breakdown 1

# of Units: 1
# of Beds: 2
# of Baths: 2
Furnishing: Unfurnished
Actual Rent: $2,500
Total Rent: $2,500
Pro Forma/Market Rent: $3,700

Unit Breakdown 2

# of Units: 1
# of Beds: 2
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $2,200
Total Rent: $2,200
Pro Forma/Market Rent: $3,200

Unit Breakdown 3

# of Units: 1
# of Beds: 1
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $2,500
Total Rent: $0
Pro Forma/Market Rent: $2,500

Multi-Family Income/Expense Information

Property Income and Analysis

Cap Rate: 4.65%
Gross Rent Multiplier: 16.2
Gross Scheduled Income: --
Net Operating Income: $65,129
Gross Operating Income: $86,400

Annual Expense Breakdown

Total Operating Expense: --

Property Details for 1501 Scott Ave

Interior Features

Cooling Information

No Cooling
None

Heating Information

Has Heating
Floor Furnace, Forced Air

Laundry Information

Has Laundry
Individual Room, Inside

Room Information

Flooring: Wood, Laminate

Lot Details / Garage and Parking

Parking/Garage Information

# of Parking Spaces: 3
Has Parking
Parking Features: Driveway

Lot Information

Lot Size Source: Assessor

Property Information

Has View
View: City Lights
Total # of Units: 3
Parcel Number: 5419014026
Year Built Source: Assessor

Homeowners Association, Utilities, Taxes / Assessments

Homeowners Association

Is Not Part of Association

Location / Neighborhood

Location Information

Directions: Corner of Scott Ave and Parmer Ave

View more facts & features

Local Los Angeles Agent

Sale History for 1501 Scott Ave

Last sold for $1,360,000 on August 2nd, 2023

August, 2023
Aug 2, 2023

Date

Sold

CRMLS: 23275423

$1,360,000

Price
Jun 1, 2023

Date

Active

CRMLS: 23275423

$1,400,000

Price
June, 2005
Jun 10, 2005

Date

Sold (Public Records)

Public Records

--

Price

Tax History for 1501 Scott Ave

Assessed Value (2020): $87,819

Year	Land Value	Improved Value	Assessed Value
2020	$32,253	$55,566	$87,819

Home Value Compared to the Market

This property vs the competition

1501 Scott Ave sold on August 2, 2023 for 23.89% higher 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 $401.38 per/sqft which puts the price per square foot 46.77% lower than the current median sale per square foot for the city of Los Angeles.

About 1501 Scott Ave

Detailed summary of property

1501 Scott Ave is a multi family that recently sold in Los Angeles, CA 90026. This multi family property offered 5 bedrooms, 4 bathrooms, roughly 3,488 living square feet, and sits on an approximately 8,222 square foot lot. 1501 Scott Ave was first listed on ArdentRealEstateGroup.com on June 5, 2023. The homeowner sold the property for $1,360,000. 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 23.89% higher than the current median priced home. Local homes that are currently for sale include 2241 Ewing St, 1309 N Coronado St and 817 Centennial St. While the average home in Los Angeles, CA is selling in 98 days, 1501 Scott Ave has a days on market of 12 days. There are currently 3912 homes for sale in the Los Angeles real estate market and 2639 of them are single family homes while 1161 of them are condos and 105 are townhomes. For more information on this home for sale at 1501 Scott Ave 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 1501 Scott Ave

Public county record property details

Beds: 7
Baths: 4
Year built: 1906
Sq. Ft.: 3,488
Lot Size: 8,227
Stories: --

Type: Triplex (3 Units, Any Combination)
Pool: No
Spa: No
County: Los Angeles
Lot#: 14,19
APN: 5419-014-026

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

$1,299,000

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.