1503 Menlo Ave Los Angeles, CA 90006

$675,000 Sold Price as of 09/22/2009

8 Beds
11 Baths
5,563 Sq.Ft.

Off Market

$675,000 Sold Price as of 09/22/2009 Refinance Your Mortgage

Map preview of 1503 Menlo Ave, Los Angeles, CA 90006

Property Overview: 1503 Menlo Ave Los Angeles, CA has 8 bedrooms, 11 bathrooms, 5,563 living square feet and 14,600 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Home Value Compared to the Market

1503 Menlo 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 $1,249,000. The median price per/sqft for Los Angeles is $772. 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 $249,800 for the down payment and will need roughly $24,980 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 $52,500. 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 1503 Menlo Ave

Last sold for $675,000 on September 22nd, 2009

March, 2024
Mar 31, 2024

Date

Expired

CRMLS: 23332289

$1,900,000

Price
Nov 15, 2023

Date

Active

CRMLS: 23332289

$2,000,000

Price
Listing provided courtesy of CRMLS

Take this great opportunity to purchase a well-maintained 11-Unit apartment complex sitting on a huge 14,600 SF lot located in the Pico Union neighborhood . The complex consists of 11 units total, with eight units that have 1BR/1BA and three units that are studios. Almost all units have been remodeled with new paint, flooring, new air conditioning and heat along with copper plumbing and new electric wiring. One parking space assigned to each unit, but has additional parking spaces available for extra income. Electricity is metered separately. TWO units are currently vacant. Unit 5 & 8 are currently vacant and used pro forma rents. Rents have been increased as of Feb 2nd, 2024. The property is subject to rent control with significant rent upside. The property is also zoned RD1.5 - Tier 3 on a massive 14,600 SF lot. Centrally located in Mid Los Angeles/Pico Union area near Koreatown, Echo Park and DTLA and with many restaurants and shops nearby along with easy access to freeways and transportation.

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May, 2023
May 4, 2023

Date

Canceled

CRMLS: 23230819

$1,795,000

Price
Jan 9, 2023

Date

Active

CRMLS: 23230819

$1,945,000

Price
Listing provided courtesy of CRMLS

Huge price reduction! Must be sold! We are pleased to present a great opportunity for developers and savvy investors! This prime location is adjacent to K-Town, DTLA, Silverlake/Echo park and Hollywood! EXTREMELY RARE HUGE LOT! - 14600 SQ zoned RD1.5 with Tier 3. Easy access to freeway I-10, I-101 and I-110. The seller has maintained and upgraded a lot! There are abundant parking spaces for extra income. All units are provided with an electric heater, A/C. Good tenants with current rent up to date. A must see property!

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April, 2023
Apr 10, 2023

Date

Expired

CRMLS: 23230847

$1,795,000

Price
Jan 9, 2023

Date

Active

CRMLS: 23230847

$1,945,000

Price
Listing provided courtesy of CRMLS

Land value only! 14,600 Sq. Zoned RD1.5 with Tier 3! Drive by only.

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April, 2022
Apr 14, 2022

Date

Canceled

CRMLS: 22134077

$2,200,000

Price
Mar 7, 2022

Date

Active

CRMLS: 22134077

$2,200,000

Price
Listing provided courtesy of CRMLS

We are pleased to present a great opportunity for developers and savvy investors! This prime location is adjacent to K-Town, DTLA, Silverlake/Echo park and Hollywood! Extremely rare and huge lot - 14600 SQ zoned RD1.5 with Tier 3. Easy access to freeway I-10, I-101 and I-110. The seller has maintained and upgraded a lot! There are abundant parking spaces for extra income. All units are provided with an electric heater, A/C. Good tenants with current rent up to date. A must see property!

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March, 2022
Mar 7, 2022

Date

Expired

CRMLS: 22116449

$2,200,000

Price
Jan 6, 2022

Date

Active

CRMLS: 22116449

$2,200,000

Price
Listing provided courtesy of CRMLS

We are pleased to present a great opportunity for developers and savvy investors! This prime location is adjacent to K-Town, DTLA, Silverlake/Echo park and Hollywood! Extremely rare and huge lot - 14600 SQ zoned RD1.5 with Tier 3. Easy access to freeway I-10, I-101 and I-110. The seller has maintained and upgraded a lot! There are abundant parking spaces for extra income. All units are provided with an electric heater, A/C. Good tenants with current rent up to date. A must see property!

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May, 2020
May 1, 2020

Date

Expired

CRMLS: 20543072

$2,090,000

Price
Jan 12, 2020

Date

Active

CRMLS: 20543072

$2,090,000

Price
Listing provided courtesy of CRMLS

Excellent location in Mid-Wilshire area near DTLA, Koreatown! Very rare huge lot-14,600 sq zoned RD 1.5 with Tier 3. Excellent development opportunity for savvy investors! Easy access to freeway I-10, !-101, !-110. Just few min drive to Dodgers stadium, LA live, Convention center, USC, Exposition Park, Hancock park! Seller maintained and upgraded a lot! There are abundant parking spaces for extra income! Heater/ Air- conditioner by electricity is installed in every unit. Electricity is metered separately. Catch the chance while you can!

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November, 2019
Nov 21, 2019

Date

Expired

CRMLS: 19504856

$2,200,000

Price
Aug 28, 2019

Date

Active

CRMLS: 19504856

$2,200,000

Price
Listing provided courtesy of CRMLS

The A Team is pleased to present 1503 Menlo Avenue, a property that embodies the history and setting of Koreatown. This unique value-add opportunity is comprised of a massive 14,600 square foot lot, a detached back-house, and preferable unit mix with a solid $150K of gross annual income. The gentrification of Koreatown continues to drive high-end development boosting rents in surrounding sub-markets. Koreatown continues to be one of LA's hotspots creating even more demand for new construction, with around 2,000 units currently under construction. Menlo Ave is nothing but opportunity as its pinpointed in the most populated area of Los Angeles. Combined with the demographics and local gentrification this deal allows a new operator to be as creative as they wish. With consideration to all that is happening in and around the area you will see why savvy investors are taking advantage of this market while they can!

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May, 2018
May 24, 2018

Date

Canceled

CRMLS: 18346972

$1,000

Price
May 23, 2018

Date

Price Change

CRMLS: 18346972

$1,000

Price
May 23, 2018

Date

Active

CRMLS: 18346972

$900

Price
Listing provided courtesy of CRMLS

Just remodeled! Laminate & tiled floor. Newly painted. Excellent location-close to convention center at DTLA, easy access to freeway, near Koreatown, Hancock park, Miracle mile. One parking space assigned to unit. However, extra parking space available with extra payment. Tenants pay for only electricity. Landlord allow up to 2 tenants for this unit. Must see!

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January, 2018
Jan 23, 2018

Date

Expired

CRMLS: 17273482

$1,830,000

Price
Sep 24, 2017

Date

Active

CRMLS: 17273482

$1,830,000

Price
Listing provided courtesy of CRMLS

Rare huge lot in Mid-Wilshire are. 14,600 sq! 14,600 sq! 14,600 sq! This property is an R1.5 zoned lot that is in a Tier 3 TOC area. Excellent development opportunity in a extremely high demand multi-family rental market. The subject property is located between DTLA & mid-wilshire/Korea town. Conveniently located close to freeways (10 & 110), Hollywood, Dodger stadium, Staples Center, Nokia theater & much more.Seller upgraded 100% electric, 95% plumbing, parking space with permit recently. All units have gone through remodeling. Heater/air-conditioner by electricity is installed in every unit. Electricity is individually metered. 4% rental increase every year. Buyer and buyer's agent are responsible for their own due diligence to verify all information and finds regarding subject property.

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September, 2009
Sep 22, 2009

Date

Sold (Public Records)

Public Records

$675,000

Price

Tax History for 1503 Menlo Ave

Assessed Value (2020): $795,129

Year	Land Value	Improved Value	Assessed Value
2020	$472,114	$323,015	$795,129

About 1503 Menlo Ave

Detailed summary of property

1503 Menlo Ave is categorized with a use code of Apartment House (5+ Units) in Los Angeles, CA 90006 and last sold on September 22, 2009 for $675,000. This property has 8 bedrooms, 11 bathrooms, roughly 5,563 living square feet, and sits on an approximately 14,600 square foot lot. Homes in Los Angeles are selling for a median price of $1,050,000 and a median price per square foot of $738. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 35.71% lower than the current median priced home. 1503 Menlo Ave was last sold on September 22, 2009 for $675,000. Local nearby listings include 1708 S Union Ave, 1659 Roosevelt Ave and 1629 W 23rd St. The average home in Los Angeles, CA is selling in 97 days. There are currently 3429 homes for sale in the Los Angeles real estate market and 2324 of them are single family homes while 1008 of them are condos and 91 are townhomes. If you are the homeowner and looking to sell the home at 1503 Menlo Ave Los Angeles, CA 90006 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1503 Menlo Ave

Public county record property details

Beds: 8
Baths: 11
Year built: 1890
Sq. Ft.: 5,563
Lot Size: 14,600
Stories: --

Type: Apartment House (5+ Units)
Pool: No
Spa: No
County: Los Angeles
Lot#: 18,19
APN: 5056-001-017

The source for these homes facts are from public records.

90006 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$760,000

Median List Price/Sq.Ft.

$611

Median Sold Price

$630,000

Median Sold Price/Sq.Ft.

$516

Total Inventory

Median Sale to List Price %

90.13%

Avg Days on Market

180

Loan Type

Conventional (25%), FHA (0%), VA (0%), Cash (0%), Other (25%)

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