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1609 Oak St, Los Angeles, CA 90015
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1609 Oak St Los Angeles, CA 90015

$950,000
  • 4 Beds
  • 6 Baths
  • 5,518 Sq.Ft.
For Sale
$950,000 Get Pre-Qualified
Map preview of 1609 Oak St, Los Angeles, CA 90015

Property Overview: 1609 Oak St Los Angeles, CA has 4 bedrooms, 6 bathrooms, 5,518 living square feet and 4,745 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: DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT LISTING TEAM FOR DETAILS. We are pleased to offer for sale a six-unit apartment community located at 1609 Oak Street. The subject property is located west of the 110 Freeway and south of Venice Boulevard. Situated on a 4,745 square foot parcel, the property is comprised of two studios and four one-bedroom units. The property has 40% remaining rental upside through unit renovations. 1609 Oak Street presents investors a unique opportunity to acquire an asset with a strong value-add component and the opportunity to capitalize on the westward expansion and revitalization of the Downtown sub-market. Located in close proximity to multiple venues for the 2028 Summer Olympics in Los Angeles. The property is a short distance from venues in the "Downtown Sports Park", Including the LA Memorial Coliseum, Crypto.com Arena, BMO Stadium, & more, which bode well for the long term prospects of this neighborhood.

Listed by Sean Rosenzweig | BRE #01406343 | Marcus & Millichap
Last checked: 4 minutes ago | Last updated: August 28th, 2024 | Source CRMLS | DOM: 29

Home details

Lot Sq. Ft
4,745
HOA Dues
$0/mo
Year built
1922
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24429973
City
Los Angeles
County
Los Angeles
Time on Site
29 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 6
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,418
  • Total Rent: $1,418
  • Pro Forma/Market Rent: $1,850
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $911
  • Total Rent: $911
  • Pro Forma/Market Rent: $1,350
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,364
  • Total Rent: $1,364
  • Pro Forma/Market Rent: $1,850
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,249
  • Total Rent: $1,249
  • Pro Forma/Market Rent: $1,850
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,044
  • Total Rent: $1,044
  • Pro Forma/Market Rent: $1,350
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,250
  • Total Rent: $1,250
  • Pro Forma/Market Rent: $1,850
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.7%
  • Gross Rent Multiplier: 10.94
  • Gross Scheduled Income: --
  • Net Operating Income: $44,628
  • Gross Operating Income: $84,227
Annual Expense Breakdown
  • Total Operating Expense: --

Open Houses for 1609 Oak St

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Property Details for 1609 Oak St

Interior Features
Kitchen Information
  • Has Appliances
Interior Features
  • Levels: Two
Lot Details / Garage and Parking
Parking/Garage Information
  • No
  • Parking Features: None
Lot Information
  • Lot Size Source: Assessor
Property Information
  • Total # of Units: 6
  • Parcel Number: 5135028014
  • Year Built Source: Assessor
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: South of Venice Boulevard & East of South Union Avenue
View more facts & features

Local Los Angeles Agent

Sale History for 1609 Oak St

Last sold for $693,000 on May 10th, 2013

  • August, 2024

  • Aug 20, 2024

    Date

    Active

    CRMLS: 24429973

    $950,000

    Price

  • May, 2013

  • May 10, 2013

    Date

    Sold (Public Records)

    Public Records

    $693,000

    Price

  • April, 2012

  • Apr 30, 2012

    Date

    Sold (Public Records)

    Public Records

    $517,005

    Price

Show More

Tax History for 1609 Oak St

Assessed Value (2020): $780,302
Year Land Value Improved Value Assessed Value
2020 $562,990 $217,312 $780,302

Home Value Compared to the Market

This property vs the competition

1609 Oak St is listed 20.83% 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 $768 and this home is listed at $172.16 per/sqft which puts the price per square foot 77.58% lower than the median price per square foot for the city of Los Angeles.

About 1609 Oak St

Detailed summary of property

1609 Oak St is a multi family located in Los Angeles, CA 90015 and is currently for sale. This multi family property offers 4 bedrooms, 6 bathrooms, roughly 5,518 living square feet, and sits on an approximately 4,745 square foot lot. 1609 Oak St was first listed on ArdentRealEstateGroup.com on August 20, 2024. The homeowner is currently asking $950,000. The median priced home in Los Angeles is $1,200,000 with a median price per square foot of $768. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 20.83% lower than the median priced home. Local competing homes currently for sale include 2504 Trinity St, 1232 S Kenmore Ave and 182 E 35th St. While the average home in Los Angeles, CA is selling in 106 days, 1609 Oak St has a days on market of 29 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 1609 Oak St Los Angeles, CA 90015 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1609 Oak St

Public county record property details
Beds
8
Baths
6
Year built
1922
Sq. Ft.
5,518
Lot Size
4,744
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
10
APN
5135-028-014

The source for these homes facts are from public records.

90015 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$745,000
Median List Price/Sq.Ft.
$704
Median Sold Price
$460,000
Median Sold Price/Sq.Ft.
$519
Total Inventory
94
Median Sale to List Price %
102.22%
Avg Days on Market
57
Loan Type
Conventional (50%), FHA (0%), VA (0%), Cash (25%), Other (0%)

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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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