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1587 W Vernon Ave, Los Angeles, CA 90062
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1587 W Vernon Ave Los Angeles, CA 90062

$696,000 Sold Price as of 07/19/2023
  • 2 Beds
  • 2 Baths
  • 1,626 Sq.Ft.
Sold
$696,000 Sold Price as of 07/19/2023 Refinance Your Mortgage
Map preview of 1587 W Vernon Ave, Los Angeles, CA 90062

Property Overview: 1587 W Vernon Ave Los Angeles, CA has 2 bedrooms, 2 bathrooms, 1,626 living square feet and 4,982 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: LOOKING FOR BACK UP OFFERS. Perfect for USC student housing. Zoning should allow for an additional unit PLUS an ADU. SELLER WILL PROVIDE THE UNITS VACANT AT COE! Newer large 3-car garage with openers. May be perfect for 3rd unit above and ADU conversion? Easy alley access to garages. Close to downtown LA. Convenient to freeways and public transportation. Large 1 bedroom units with 1.5 baths in each unit. Desirable open floor plan from living room to dining room and kitchen. Crown molding in dining and living rooms. Desirable hardwood floors in living/dining in one unit. Laundry rooms in each unit. Additional paved area with separate gate for RV parking or 2-vehicle parking in tandem. Newer roof still under warranty. Backyard area perfect for garden and gatherings. Additional outside fenced storage area between garage on westerly side. Income/Expense data is estimated. Buyer to make their own Income/Expense forecasts and not rely on "Scheduled" forecast stated in listing info. Cash to new loan, FHA, VA or any other financing works but seller will not carry. Full 3% commission to selling brokerage! Please provide proof of funds and pre-approval for financed transactions.

Listed by David Bond | BRE #00580597 | David Bond
Last checked: 12 minutes ago | Last updated: July 19th, 2023 | Source CRMLS | DOM: 8

Home details

Lot Sq. Ft
4,982
HOA Dues
$0/mo
Year built
1927
Garage
3 Car
Property Type:
Multi Family
Status
Sold
MLS#
23274623
City
Los Angeles
County
Los Angeles
Time on Site
472 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 2
  • Total # of Buildings: 1
  • # of Electric Meters: 2
  • # of Gas Meters: 2
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $2,000
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $2,000
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 14.5
  • Gross Scheduled Income: --
  • Net Operating Income: $42,864
  • Gross Operating Income: $48,000
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 1587 W Vernon Ave

Interior Features
Cooling Information
  • No Cooling
  • None
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • Washer Included, Dryer Included
Fireplace Information
  • No Fireplace
  • None
Kitchen Information
  • Has Appliances
  • Gas Cooktop, Gas Oven
Interior Features
  • Crown Molding
  • Levels: Two
  • Window Features: Screens, Blinds
  • Security Features: Smoke Detector(s), Carbon Monoxide Detector(s), Window Bars
Exterior Features
Exterior Information
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 3
  • # of Parking Spaces: 5
  • Has Parking
  • Parking Features: Garage Door Opener, Driveway, Garage - Three Door, RV Access/Parking, Tandem Garage
Lot Information
  • Lot Features: Back Yard, Front Yard
Property Information
  • No View
  • View: None
  • Total # of Units: 2
  • Parcel Number: 5021022013
  • Entry Level: 1
  • Accessibility Features: None
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Sewer Paid, Other
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: W. Vernon Ave., east of Western Ave. Close proximity to USC.
View more facts & features

Local Los Angeles Agent

Sale History for 1587 W Vernon Ave

Last sold for $696,000 on July 19th, 2023

  • July, 2023

  • Jul 19, 2023

    Date

    Sold

    CRMLS: 23274623

    $696,000

    Price

  • May 31, 2023

    Date

    Active

    CRMLS: 23274623

    $695,000

    Price

  • March, 2022

  • Mar 11, 2022

    Date

    Active

    CRMLS: DW22048299

    $690,000

    Price

  • Listing provided courtesy of CRMLS

    INVESTORS WANTED !!! Looking for a cash buyer for the purchase of this duplex in Los Angeles. This sale will include long-term tenants that are on month-to-month. This is a large 1 bedroom two-story side-by-side Craftsman style duplex with a large covered porch and large picture windows. There is a formal dining area that connects the living room to the kitchen. Each unit has its own indoor laundry room. Note the zoning of R1.5 and that makes this an amazing opportunity for the right buyer. There is a three-car garage situated behind the duplex as well. This property is located near USC, the Natural History Museum, and Banc of California Stadium.

  • March, 2022

  • Mar 10, 2022

    Date

    Canceled

    CRMLS: DW22003844

    $690,000

    Price

  • Feb 9, 2022

    Date

    Hold

    CRMLS: DW22003844

    $690,000

    Price

  • Feb 4, 2022

    Date

    Price Change

    CRMLS: DW22003844

    $690,000

    Price

  • Feb 2, 2022

    Date

    Coming Soon

    CRMLS: DW22003844

    $640,000

    Price

  • Listing provided courtesy of CRMLS

    **COMING SOON** This is a cash investor special! Looking for a cash buyer for the purchase of this duplex in Los Angeles, only one mile from USC. This is a Craftsman two-story side-by-side duplex with a huge covered porch, large picture windows, a three-car garage, and laundry in each. Will be sold with occupants.

  • October, 2016

  • Oct 7, 2016

    Date

    Sold (Public Records)

    Public Records

    $371,000

    Price

  • August, 2012

  • Aug 1, 2012

    Date

    Sold (Public Records)

    Public Records

    $1,275,012

    Price

Show More

Tax History for 1587 W Vernon Ave

Assessed Value (2020): $571,200
Year Land Value Improved Value Assessed Value
2020 $346,800 $224,400 $571,200

Home Value Compared to the Market

This property vs the competition

1587 W Vernon Ave sold on July 19, 2023 for 37.95% lower 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 $427.43 per/sqft which puts the price per square foot 40.96% lower than the current median sale per square foot for the city of Los Angeles.

About 1587 W Vernon Ave

Detailed summary of property

1587 W Vernon Ave is a multi family that recently sold in Los Angeles, CA 90062. This multi family property offered 2 bedrooms, 2 bathrooms, roughly 1,626 living square feet, and sits on an approximately 4,982 square foot lot. 1587 W Vernon Ave was first listed on ArdentRealEstateGroup.com on June 5, 2023. The homeowner sold the property for $696,000. 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 37.95% lower than the current median priced home. Local homes that are currently for sale include 3773 S La Salle Ave, 5700 Cimarron St and 965 W 47Th St. While the average home in Los Angeles, CA is selling in 106 days, 1587 W Vernon Ave has a days on market of 8 days. There are currently 4052 homes for sale in the Los Angeles real estate market and 2782 of them are single family homes while 1148 of them are condos and 116 are townhomes. For more information on this home for sale at 1587 W Vernon Ave 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 1587 W Vernon Ave

Public county record property details
Beds
--
Baths
--
Year built
--
Sq. Ft.
1,626
Lot Size
4,982
Stories
--
Type
Duplex (2 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
5
APN
5021-022-013

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
$850,000
Median List Price/Sq.Ft.
$557
Median Sold Price
$645,000
Median Sold Price/Sq.Ft.
$477
Total Inventory
42
Median Sale to List Price %
104.88%
Avg Days on Market
19
Loan Type
Conventional (12.5%), FHA (25%), VA (0%), Cash (37.5%), Other (12.5%)

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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