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1556 Morton Ave, Los Angeles, CA 90026
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1556 Morton Ave Los Angeles, CA 90026

$1,061,000 Sold Price as of 06/28/2023
  • 2 Beds
  • 2 Baths
  • 1,426 Sq.Ft.
Sold
$1,061,000 Sold Price as of 06/28/2023 Refinance Your Mortgage
Map preview of 1556 Morton Ave, Los Angeles, CA 90026

Property Overview: 1556 Morton Ave Los Angeles, CA has 2 bedrooms, 2 bathrooms, 1,426 living square feet and 3,165 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: *LEFT UNIT WILL BE DELIVERED VACANT!!* RARE FIRST TIME ON MARKET IN 80 YEARS! IT'S AN OPPORTUNITY MARKET, AND THIS IS THE CAN'T MISS OPPORTUNITY YOU'VE WAITED FOR. BIG UPSIDE, WITH MULTIPLE POSSIBILITIES. SUPER-RARE COMMERCIALLY ZONED DUPLEX ON AN EXCELLENT "PRIME A" Triangular Corner location that is as trendy and popular as it gets. This versatile LAC2-zoned property can continue as residential or be re-purposed in as a Triple-net Retail space at pro-forma $6,142/month (think BROOME STREET GENERAL STORE in Silver Lake). The lots C-2 zoning allows new construction max 2-Story, 35 feet tall (~4,000 sq. ft. interior) new build. Next to Canyon Coffee, Cookbook LA Grocery, Des Pair Books, and Glowing Plant-Based Eatery. This block of Echo Park blvd is completely redeveloped, with many well-known architects and development projects since 2015. For both living and lifestyle - this junction attracts locals from Atwater, Silver Lake, Los Feliz, and all of NELA. As cute residential bungalows, it currently generates great income already. With its versatility and location, the UPSIDE future possibilities are easy to see. Plus, both units are in good condition with charming character intact. Each unit has washer and dryer hook ups. Each unit has a new European-style HVAC unit. Current tenants are stable & low-maintenance. Pro-forma market rents are $6,000/month (residential) or $6,142/month (retail triple-net commercial). A short stroll to nature trails and Dodgers Stadium in Elysian Park also. Tenant occupied (1558 unit may be delivered vacant) - shown to pre-qualified buyers only. Sold as-is. Welcome to Echo Park!

Listed by Jerry Hsieh | BRE #01701809 | Keller Williams Realty Los Feliz
Last checked: 4 minutes ago | Last updated: June 28th, 2023 | Source CRMLS | DOM: 89

Home details

Lot Sq. Ft
3,165
HOA Dues
$0/mo
Year built
--
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
23238227
City
Los Angeles
County
Los Angeles
Time on Site
516 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 2
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,000
  • Total Rent: $2,000
  • Pro Forma/Market Rent: $3,071
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $3,071
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 3.5%
  • Gross Rent Multiplier: 21.9
  • Gross Scheduled Income: --
  • Net Operating Income: $34,170
  • Gross Operating Income: $45,560
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 1556 Morton Ave

Interior Features
Heating Information
  • Has Heating
  • Wall Furnace
Fireplace Information
  • No Fireplace
  • None
Lot Details / Garage and Parking
Parking/Garage Information
  • No
  • Parking Features: None
Property Information
  • No View
  • View: None
  • Total # of Units: 2
  • Parcel Number: 5419014002
  • Architectural Style: Craftsman
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Location / Neighborhood
Location Information
  • Directions: In Echo Park, on the corner of Echo Park Avenue and Morton Avenue.
View more facts & features

Local Los Angeles Agent

Sale History for 1556 Morton Ave

Last sold for $1,061,000 on June 28th, 2023

  • June, 2023

  • Jun 28, 2023

    Date

    Sold

    CRMLS: 23238227

    $1,061,000

    Price

  • Feb 2, 2023

    Date

    Active

    CRMLS: 23238227

    $1,050,000

    Price

Tax History for 1556 Morton Ave

Assessed Value (2020): $44,552
Year Land Value Improved Value Assessed Value
2020 $23,511 $21,041 $44,552

Home Value Compared to the Market

This property vs the competition

1556 Morton Ave sold on June 28, 2023 for 17.58% 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 $736.33 per/sqft which puts the price per square foot 6.91% lower than the current median sale per square foot for the city of Los Angeles.

About 1556 Morton Ave

Detailed summary of property

1556 Morton Ave is a multi family that recently sold in Los Angeles, CA 90026. This multi family property offered 2 bedrooms, 2 bathrooms, roughly 1,426 living square feet, and sits on an approximately 3,165 square foot lot. 1556 Morton Ave was first listed on ArdentRealEstateGroup.com on February 2, 2023. The homeowner sold the property for $1,061,000. 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 17.58% lower than the current median priced home. Local homes that are currently for sale include 2679 Knox Ave, 408 N La Fayette Park Pl and 648 N Grand Ave. While the average home in Los Angeles, CA is selling in 100 days, 1556 Morton Ave has a days on market of 89 days. There are currently 3938 homes for sale in the Los Angeles real estate market and 2648 of them are single family homes while 1176 of them are condos and 106 are townhomes. For more information on this home for sale at 1556 Morton 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 1556 Morton Ave

Public county record property details
Beds
--
Baths
--
Year built
--
Sq. Ft.
1,426
Lot Size
3,165
Stories
--
Type
Duplex (2 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
2
APN
5419-014-002

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
$1,199,000
Median List Price/Sq.Ft.
$832
Median Sold Price
$1,796,500
Median Sold Price/Sq.Ft.
$802
Total Inventory
69
Median Sale to List Price %
112.99%
Avg Days on Market
18
Loan Type
Conventional (17.65%), FHA (0%), VA (0%), Cash (11.76%), Other (0%)

Thinking of Selling?

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Thinking of Selling?
Call, Text or Message
(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.

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