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1506 W 56th St, Los Angeles, CA 90062
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1506 W 56th St Los Angeles, CA 90062

$700,000 Sold Price as of 01/19/2022
  • 3 Beds
  • 2.5 Baths
  • 1,456 Sq.Ft.
Sold
$700,000 Sold Price as of 01/19/2022 Refinance Your Mortgage
Map preview of 1506 W 56th St, Los Angeles, CA 90062

Property Overview: 1506 W 56th St Los Angeles, CA has 3 bedrooms, 2.5 bathrooms, 1,456 living square feet and 4,991 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Great opportunity to purchase this two on a lot in one of the fastest growing areas of Los Angeles! Invest and hold or live in one unit and receive rent from the other, either option will produce great results. The front unit is a 2-bed 1 bath, however the laundry area has been converted to a 3rd bedroom with closet. The rear unit is a one bed one bath. Property is sold "as Is" in its present condition. Owner is negotiating with front tenant so that BOTH UNITS CAN BE DELIVERIED VACANT. Excellent location, close to bus line, freeways, hospitals and schools. All information in deemed reliable, but the seller nor its agent make no guarantee as to its accuracy. Therefore, buyer and buyers agent are advised to complete their on due diligence as to all aspects of this property.

Listed by Jerol Crawford | BRE #01331482 | Jerold Crawford
Last checked: 10 minutes ago | Last updated: March 23rd, 2022 | Source CRMLS | DOM: 7

Home details

Lot Sq. Ft
4,991
HOA Dues
$0/mo
Year built
1924
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
IN21218748
City
Los Angeles
County
Los Angeles
Time on Site
985 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 2
  • Total # of Buildings: 2
  • # of Leased Units: 1
  • # of Electric Meters: 2
  • # of Gas Meters: 2
  • # of Water Meters: 2
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,369
  • Total Rent: $1,369
  • Pro Forma/Market Rent: $2,500
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $1,500
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $4,000
  • Net Operating Income: $2,937
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $1,063
  • New Taxes: $703
  • Trash: $85
  • Insurance: $200

Property Details for 1506 W 56th St

Interior Features
Cooling Information
  • No Cooling
  • None
Heating Information
  • Has Heating
  • Floor Furnace
Laundry Information
  • Has Laundry
  • Individual Room
Fireplace Information
  • No Fireplace
  • None
Room Information
  • Flooring: Laminate, Vinyl
  • Kitchen, Living Room
Kitchen Information
  • Has Appliances
  • Gas Oven, Gas Range, Water Heater
Exterior Features
Exterior Information
  • Roof: Asbestos Shingle
  • No Fence
  • None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 2
  • Has Parking
  • Parking Features: Driveway
Lot Information
  • Lot Features: Back Yard, Landscaped, Lawn, Yard
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • No View
  • View: None
  • Common Walls: No Common Walls
  • Total # of Units: 2
  • Parcel Number: 5003026015
  • Year Built Source: Appraiser
  • Architectural Style: Mid Century Modern
  • Foundation Details: Raised
  • Property is not Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
  • Utilities: Cable Connected, Electricity Connected, Natural Gas Available, Sewer Connected, Water Connected
Assessment Information
  • Has Assessments
  • Assessments: Unknown
Location / Neighborhood
Location Information
  • Directions: West of Normandie - East of Denker
  • Road Surface Type: Paved
Neighborhood Information
  • Community Features: Curbs, Storm Drains, Street Lights
View more facts & features

Local Los Angeles Agent

Sale History for 1506 W 56th St

Last sold for $700,000 on January 19th, 2022

  • January, 2022

  • Jan 19, 2022

    Date

    Sold

    CRMLS: IN21218748

    $700,000

    Price

  • Oct 26, 2021

    Date

    Active

    CRMLS: IN21218748

    $675,000

    Price

  • July, 2021

  • Jul 20, 2021

    Date

    Canceled

    CRMLS: IN21064378

    $625,000

    Price

  • May 31, 2021

    Date

    Active

    CRMLS: IN21064378

    $625,000

    Price

  • May 14, 2021

    Date

    Pending

    CRMLS: IN21064378

    $625,000

    Price

  • Apr 2, 2021

    Date

    Active

    CRMLS: IN21064378

    $625,000

    Price

  • Listing provided courtesy of CRMLS

    BACK ON THE MARKET!!!! Motivated Seller, great investment opportunity in South Los Angeles or live in one and rent the other. This is a fabulous income producing property in a trending Los Angeles neighborhood. This 2 - nit home is perfect for the growing family and to collect rent from the back unit to offset the mortgage payment. The front unit is a 2 bed 1 bath, however the laundry area has been converted to a 3rd bedroom with closet. The rear unit is a one bed one bath. Property is sold "As-Is" in its present condition. Excellent location, close to bus line, freeways, hospitals and schools. All information is deemed reliable, but not guaranteed. Therefore, buyer and buyers agent are advised to complete their on due diligence

  • June, 1998

  • Jun 3, 1998

    Date

    Sold (Public Records)

    Public Records

    $115,000

    Price

Show More

Tax History for 1506 W 56th St

Assessed Value (2020): $167,876
Year Land Value Improved Value Assessed Value
2020 $83,938 $83,938 $167,876

Home Value Compared to the Market

This property vs the competition

1506 W 56th St sold on January 19, 2022 for 47.02% lower than the current median sold price for the city of Los Angeles which is $1,274,000. The median sold price per/sqft for Los Angeles is $791 and this home is sold at $463.6 per/sqft which puts the price per square foot 41.39% lower than the current median sale per square foot for the city of Los Angeles.

About 1506 W 56th St

Detailed summary of property

1506 W 56th St is a multi family that recently sold in Los Angeles, CA 90062. This multi family property offered 3 bedrooms, 2.5 bathrooms, roughly 1,456 living square feet, and sits on an approximately 4,991 square foot lot. 1506 W 56th St was first listed on ArdentRealEstateGroup.com on October 26, 2021. The homeowner sold the property for $700,000. Home in Los Angeles are selling for a median price of $1,274,000 and a median price per square foot of $791. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 47.02% lower than the current median priced home. Local homes that are currently for sale include 5175 S Van Ness Ave, 1977 W 48th St and 943 W 65th St. While the average home in Los Angeles, CA is selling in 102 days, 1506 W 56th St has a days on market of 7 days. There are currently 3917 homes for sale in the Los Angeles real estate market and 2621 of them are single family homes while 1181 of them are condos and 107 are townhomes. For more information on this home for sale at 1506 W 56th St Los Angeles, CA 90062 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1506 W 56th St

Public county record property details
Beds
3
Baths
2
Year built
1924
Sq. Ft.
1,456
Lot Size
4,991
Stories
--
Type
Duplex (2 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
35
APN
5003-026-015

The source for these homes facts are from public records.

90062 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$879,000
Median List Price/Sq.Ft.
$568
Median Sold Price
$640,000
Median Sold Price/Sq.Ft.
$621
Total Inventory
35
Median Sale to List Price %
94.12%
Avg Days on Market
22
Loan Type
Conventional (40%), FHA (0%), VA (0%), Cash (20%), Other (20%)

Thinking of Selling?

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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.

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