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1509 W Florence Ave, Los Angeles, CA 90047
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1509 W Florence Ave Los Angeles, CA 90047

$899,000
  • 12 Beds
  • 12 Baths
  • 2,288 Sq.Ft.
For Sale
$899,000 Get Pre-Qualified
Map preview of 1509 W Florence Ave, Los Angeles, CA 90047

Property Overview: 1509 W Florence Ave Los Angeles, CA has 12 bedrooms, 12 bathrooms, 2,288 living square feet and 4,820 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: Great development opportunity near the Hollywood Park entertainment complex, SOFI stadium and the Florence/Crenshaw Metro Line. Eligible for new CHIP ordinance that can allow additional 50% density increase and significant parking reductions (See Docs). Zoned LAC2, TOC Tier 1, ED1 Eligible. Adjacent parcel also for sale at 1513 W Florence Blvd. Bringing total lot area to 11,246. Property consists of two separate buildings. A 1412 sq ft front building and a 876 sq ft rear building. The property addresses are 1509,1511 and 1511 1/2. All information provided deemed reliable but not guaranteed. Buyer and buyers agent to verify all information with the city and county zoning and planning for accuracy. Some alterations to the units were done without permit. Check with the city to satisfy any questions or concerns.

Listed by Shamim Khorsand Mashhadi | BRE #02042990 | RE/MAX ESTATE PROPERTIES
Last checked: 49 seconds ago | Last updated: September 11th, 2024 | Source CRMLS | DOM: 103

Home details

Lot Sq. Ft
4,820
HOA Dues
$0/mo
Year built
1937
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24404562
City
Los Angeles
County
Los Angeles
Time on Site
102 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 2
  • Total # of Buildings: 2
Unit Breakdown 1
  • # of Units: 12
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $900
  • Total Rent: $900
  • Pro Forma/Market Rent: $900
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 8
  • Gross Scheduled Income: --
  • Net Operating Income: $72,640
  • Gross Operating Income: $129,600
Annual Expense Breakdown
  • Total Operating Expense: --

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Property Details for 1509 W Florence Ave

Interior Features
Cooling Information
  • No Cooling
  • None
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • Washer Included, Dryer Included
Kitchen Information
  • Has Appliances
  • Refrigerator
Interior Features
  • Levels: One
  • Security Features: Gated Community
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 2
  • Has Parking
  • Parking Features: Carport
Property Information
  • No View
  • View: None
  • Total # of Units: 2
  • Parcel Number: 6015034017
  • Property Condition: Additions/Alterations
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: 110 N. to Florence exit heading West, property is on the right hand side.
View more facts & features

Local Los Angeles Agent

Sale History for 1509 W Florence Ave

Last sold for $1,065,000 on July 8th, 2022

  • June, 2024

  • Jun 16, 2024

    Date

    Active

    CRMLS: 24404562

    $925,000

    Price

  • June, 2024

  • Jun 6, 2024

    Date

    Canceled

    CRMLS: 24398699

    $925,000

    Price

  • May 31, 2024

    Date

    Active

    CRMLS: 24398699

    $925,000

    Price

  • Listing provided courtesy of CRMLS

    C-2 zoning. Contiguous property at 1513 W Figueroa Ave., is also for sale at $575,000. (1509 and 1513 have combined 11,246 Sq. Ft.). Approximately 20K Vehicles Per Day. 1509 consists of 12 rooms rented as furnished, month-to-month, Airbnb units. (Rents are projected)

  • July, 2022

  • Jul 8, 2022

    Date

    Sold

    CRMLS: WS22030165

    $1,065,000

    Price

  • Feb 15, 2022

    Date

    Active

    CRMLS: WS22030165

    $1,099,995

    Price

  • Listing provided courtesy of CRMLS

    Attention Investors and Developers!! Two adjacent and contiguous properties that measure 11,242 Combined! Apn numbers 6015034017 and 6015034018 are included. Existing 2 retail stores with rear 2 bedroom 1 bath home at 1509-1511 W Florence. it has 2288 square feet building and 4,818 square feet lot. 1513 W Florence is a 1 bedroom 1 bath single family home on a Commercial lot with 600 livable square feet and 6424 square feet lot. Total built square feet is 2,888 and 11,242 lots. Both are ZONED LAC2.

  • September, 2021

  • Sep 20, 2021

    Date

    Canceled

    CRMLS: WS21129125

    $1,099,000

    Price

  • Aug 16, 2021

    Date

    Active

    CRMLS: WS21129125

    $1,099,000

    Price

  • Aug 5, 2021

    Date

    Pending

    CRMLS: WS21129125

    $1,099,000

    Price

  • Jun 15, 2021

    Date

    Active

    CRMLS: WS21129125

    $1,099,000

    Price

  • Listing provided courtesy of CRMLS

    Attention Investors and Developers!! Two adjacent and contiguous properties that measure 11,242 Combined so you can build a Bigger project! Apn numbers 6015034017 and 6015034018 are included. Existing 2 unit retail stores with rear 2 bedroom 1 bath home at 1509-1511 W Florence. it has 2288 square feet building and 4,818 square feet lot. 1513 W Florence is a 1 bedroom 1 bath single family home on a Commercial lot with 600 square feet and 6424 square feet lot. Both are ZONED LAC2.

  • July, 2021

  • Jul 1, 2021

    Date

    Expired

    CRMLS: IN21037286

    $665,000

    Price

  • Mar 13, 2021

    Date

    Withdrawn

    CRMLS: IN21037286

    $665,000

    Price

  • Feb 23, 2021

    Date

    Active

    CRMLS: IN21037286

    $665,000

    Price

  • Listing provided courtesy of CRMLS

    THIS PROPERTY IS MIXED USE. 1509, rear structure, is a 2-bedroom 1-bath. 1511, front structure, is a Salon/Shop and a 1bedroom 1 bath. Separate entries. Broker/Agent does not guarantee the accuracy of the square footage, lot size or other information concerning the conditions or feature of the property provided by the seller or obtained from Public Records or other sources. Buyer is advised to independently verify the accuracy of all information through personal inspection and with appropriate professionals.

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Tax History for 1509 W Florence Ave

Assessed Value (2020): $121,356
Year Land Value Improved Value Assessed Value
2020 $60,678 $60,678 $121,356

Home Value Compared to the Market

This property vs the competition

1509 W Florence Ave is listed 25.08% lower than the median list price for the city of Los Angeles which has a median list price of $1,200,000. The median price per/sqft for Los Angeles is $771 and this home is listed at $392.92 per/sqft which puts the price per square foot 49.04% lower than the median price per square foot for the city of Los Angeles.

About 1509 W Florence Ave

Detailed summary of property

1509 W Florence Ave is a multi family located in Los Angeles, CA 90047 and is currently for sale. This multi family property offers 12 bedrooms, 12 bathrooms, roughly 2,288 living square feet, and sits on an approximately 4,820 square foot lot. 1509 W Florence Ave was first listed on ArdentRealEstateGroup.com on June 17, 2024. The homeowner is currently asking $899,000 and was originally asking $925,000. The median priced home in Los Angeles is $1,200,000 with a median price per square foot of $771. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 25.08% lower than the median priced home. Local competing homes currently for sale include 1723 W 59th Pl, 943 W 65th St and 952-954 W Gage Ave. While the average home in Los Angeles, CA is selling in 106 days, 1509 W Florence Ave has a days on market of 103 days. There are currently 4139 homes for sale in the Los Angeles real estate market and 2834 of them are single family homes while 1183 of them are condos and 115 are townhomes. For more information on this home for sale at 1509 W Florence Ave Los Angeles, CA 90047 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1509 W Florence Ave

Public county record property details
Beds
2
Baths
1
Year built
1937
Sq. Ft.
2,288
Lot Size
4,818
Stories
1
Type
Commercial/Office/Residential (Mixed Use)
Pool
No
Spa
No
County
Los Angeles
Lot#
284
APN
6015-034-017

The source for these homes facts are from public records.

90047 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$750,000
Median List Price/Sq.Ft.
$568
Median Sold Price
$795,000
Median Sold Price/Sq.Ft.
$561
Total Inventory
98
Median Sale to List Price %
99.39%
Avg Days on Market
43
Loan Type
Conventional (37.5%), FHA (45.83%), VA (0%), Cash (8.33%), Other (4.17%)

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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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