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1556 Parmer Ave, Los Angeles, CA 90026
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1556 Parmer Ave Los Angeles, CA 90026

$1,575,000 Sold Price as of 06/25/2019
  • 14 Beds
  • 7 Baths
  • 4,772 Sq.Ft.
Sold
$1,575,000 Sold Price as of 06/25/2019 Refinance Your Mortgage
Map preview of 1556 Parmer Ave, Los Angeles, CA 90026

Property Overview: 1556 Parmer Ave Los Angeles, CA has 14 bedrooms, 7 bathrooms, 4,772 living square feet and 10,457 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Offered for the first time on the market in over thirty years, the property has been meticulously maintained over the lifespan of its ownership. Situated one block from Echo Park Avenue, 1556 Parmer Avenue features three apartment structures totaling 4,772 square feet on a 10,457 square foot lot (0.24 acres). 1556 Parmer Avenue boasts an attractive unit mix of one, two, and three-bedroom units, comprised of 14-bedrooms and 7 baths. With the current leases approximately 100% below market value, there is an enormous amount of upside in the rents. With an influx of tenants from the entertainment industry, young professionals, and devoted families, a new owner will be able to capitalize on market trends. Located north of Parmer Avenue, between Scott Avenue and Morton Avenue, this prime location offers a plethora of beneficial attributes to help drive strong rental rates. Echo Park Lake, Dodger Stadium, The Mohawk Collective, Echo Plex are all within close proximity to the Parmer apartments. Every day amenities, public transportation options, pubs, eateries, markets and employment centers are nearby, further showcasing the opportunity that 1556 Parmer Avenue has to offer to potential investors.

Listed by SUE CHAN | BRE #01960667 | KW Executive
Last checked: 10 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 37

Home details

Lot Sq. Ft
10,457
HOA Dues
$0/mo
Year built
1927
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
WS19103609
City
Los Angeles
County
Los Angeles
Time on Site
1353 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 7
  • Total # of Buildings: 3
  • # of Leased Units: 7
  • # of Electric Meters: 7
  • # of Gas Meters: 7
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $993
  • Total Rent: $993
  • Pro Forma/Market Rent: $1,750
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $942
  • Total Rent: $942
  • Pro Forma/Market Rent: $1,750
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,057
  • Total Rent: $1,057
  • Pro Forma/Market Rent: $2,000
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,053
  • Total Rent: $1,053
  • Pro Forma/Market Rent: $2,000
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $945
  • Total Rent: $945
  • Pro Forma/Market Rent: $2,000
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,057
  • Total Rent: $1,057
  • Pro Forma/Market Rent: $2,400
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $973
  • Total Rent: $973
  • Pro Forma/Market Rent: $2,400
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 2.29%
  • Gross Rent Multiplier: 21.35
  • Gross Scheduled Income: $84,276
  • Net Operating Income: $41,246
  • Gross Operating Income: --
  • Vacancy Allowance: $2,528
Annual Expense Breakdown
  • Total Operating Expense: $40,502
  • Electric: $0
  • Gas/Fuel: $0
  • Licenses: $915
  • New Taxes: $21,517
  • Trash: $850
  • Gardener: $350
  • Insurance: $2,550
  • Maintenance: $2,800
  • Professional Management: $4,800
  • Water/Sewer: $3,000
  • Other Expenses: $3,370
  • Other Expense Description: Turnover

Property Details for 1556 Parmer Ave

Interior Features
Laundry Information
  • No Laundry
  • None
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Lot Information
  • Lot Features: 6-10 Units/Acre
  • Lot Size Source: Assessor
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 7
  • Parcel Number: 5419010002
  • Year Built Source: Public Records
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: Mid-block of Parmer Avenue. Cross Street is Echo Park Avenue
Neighborhood Information
  • Community Features: Curbs, Sidewalks
View more facts & features

Local Los Angeles Agent

Sale History for 1556 Parmer Ave

Last sold for $1,575,000 on June 25th, 2019

  • June, 2019

  • Jun 26, 2019

    Date

    Sold

    CRMLS: WS19103609

    $1,575,000

    Price

  • Jun 17, 2019

    Date

    Pending

    CRMLS: WS19103609

    $1,799,000

    Price

  • Jun 11, 2019

    Date

    Active Under Contract

    CRMLS: WS19103609

    $1,799,000

    Price

  • May 5, 2019

    Date

    Active

    CRMLS: WS19103609

    $1,799,000

    Price

  • June, 2019

  • Jun 25, 2019

    Date

    Sold (Public Records)

    Public Records

    $1,575,000

    Price

Show More

Tax History for 1556 Parmer Ave

Assessed Value (2020): $1,606,700
Year Land Value Improved Value Assessed Value
2020 $586,500 $1,020,200 $1,606,700

Home Value Compared to the Market

This property vs the competition

1556 Parmer Ave sold on June 25, 2019 for 60.62% higher than the current median sold price for the city of Los Angeles which is $1,120,000. The median sold price per/sqft for Los Angeles is $724 and this home is sold at $376.99 per/sqft which puts the price per square foot 47.93% lower than the current median sale per square foot for the city of Los Angeles.

About 1556 Parmer Ave

Detailed summary of property

1556 Parmer Ave is a multi family that recently sold in Los Angeles, CA 90026. This multi family property offered 14 bedrooms, 7 bathrooms, roughly 4,772 living square feet, and sits on an approximately 10,457 square foot lot. 1556 Parmer Ave was first listed on ArdentRealEstateGroup.com on January 13, 2021. The homeowner sold the property for $1,575,000. Home in Los Angeles are selling for a median price of $1,120,000 and a median price per square foot of $724. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 60.62% higher than the current median priced home. Local homes that are currently for sale include 1309 N Coronado St, 855 Waterloo St and 2416 Echo Park Ave. While the average home in Los Angeles, CA is selling in 106 days, 1556 Parmer Ave has a days on market of 37 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 1556 Parmer 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 Parmer Ave

Public county record property details
Beds
7
Baths
7
Year built
1927
Sq. Ft.
4,722
Lot Size
10,456
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
1
APN
5419-010-002

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
$1,250,000
Median List Price/Sq.Ft.
$822
Median Sold Price
$1,217,000
Median Sold Price/Sq.Ft.
$985
Total Inventory
77
Median Sale to List Price %
101.5%
Avg Days on Market
33
Loan Type
Conventional (22.22%), FHA (0%), VA (0%), Cash (11.11%), Other (0%)

Thinking of Selling?

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(714) 706-1823

Homes for Sale Near 1556 Parmer Ave

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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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