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1618 Lucile Ave, Los Angeles, CA 90026
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1618 Lucile Ave Los Angeles, CA 90026

$3,100,000 Sold Price as of 03/31/2021
  • 4 Beds
  • 6 Baths
  • 6,395 Sq.Ft.
Sold
$3,100,000 Sold Price as of 03/31/2021 Refinance Your Mortgage
Map preview of 1618 Lucile Ave, Los Angeles, CA 90026

Property Overview: 1618 Lucile Ave Los Angeles, CA has 4 bedrooms, 6 bathrooms, 6,395 living square feet and 7,343 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: For sale an extremely rare, mixed-use opportunity in prime Silver Lake one of LAs most prized sub-markets. The property is strategically located just north of Sunset Blvd, part of the famed Sunset Junction neighborhood. The property is comprised of a 5,392 SF mixed-use building built in 1926 and a 1,003 SFR built in 1915. The front mixed-use structure is 2,696 Square Feet and has 2 retail tenants; a bike shop called Golden Saddle Cyclery, and space utilized by a set-designer. Above the retail portion, there are 5 apartments that consist of one 2 Bed + 1 bath unit, and four studios, with one Studio VACANT. The tenants share a large outdoor deck. The House at the rear is a 2 Bed + 1 Bath Unit. Additionally, there is garage space currently occupied by Golden Saddle Cyclery. This prime investment is poised for an astute investor looking to add significant value to a currently underperforming asset with very strong core fundamentals. The lot size is 7,343 SF - allowing for future development (buyer to confirm). With many prominent developments nearby, one to note is the adjacent parcel that is being converted from a church built in 1931 to a 25 room boutique hotel with a restaurant, bar, pool, garden and spa by the Casetta group that plans to open in early 2022! This is an opportunity of a lifetime. On the market for the first time in 50+ Years!

Listed by Eric Dilanian | BRE #01951699 | Remax Commercial and Investment Realty
Last checked: 10 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 6

Home details

Lot Sq. Ft
7,343
HOA Dues
$0/mo
Year built
1926
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
21689814
City
Los Angeles
County
Los Angeles
Time on Site
1322 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 8
  • Total # of Buildings: 2
Unit Breakdown 1
  • # of Units: 4
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,049
  • Total Rent: $4,195
  • Pro Forma/Market Rent: $6,600
Unit Breakdown 2
  • # of Units: 2
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,367
  • Total Rent: $2,734
  • Pro Forma/Market Rent: $5,850
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 19.55
  • Gross Scheduled Income: --
  • Net Operating Income: $98,867
  • Gross Operating Income: $153,568
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 1618 Lucile Ave

Interior Features
Heating Information
  • Has Heating
  • Wall Furnace
Lot Details / Garage and Parking
Parking/Garage Information
  • No
  • Parking Features: None
Property Information
  • Total # of Units: 8
  • Parcel Number: 5429021031
Location / Neighborhood
Location Information
  • Directions: North of Sunset. Corner of Lucile Ave.
View more facts & features

Local Los Angeles Agent

Sale History for 1618 Lucile Ave

Last sold for $3,100,000 on March 31st, 2021

  • March, 2021

  • Mar 31, 2021

    Date

    Sold

    CRMLS: 21689814

    $3,100,000

    Price

  • Feb 27, 2021

    Date

    Pending

    CRMLS: 21689814

    $3,100,000

    Price

  • Feb 10, 2021

    Date

    Active Under Contract

    CRMLS: 21689814

    $3,100,000

    Price

  • Feb 5, 2021

    Date

    Active

    CRMLS: 21689814

    $3,100,000

    Price

  • June, 2016

  • Jun 13, 2016

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • June, 2016

  • Jun 13, 2016

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 1618 Lucile Ave

Assessed Value (2020): $121,764
Year Land Value Improved Value Assessed Value
2020 $47,271 $74,493 $121,764

Home Value Compared to the Market

This property vs the competition

1618 Lucile Ave sold on March 31, 2021 for 176.79% 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 $484.75 per/sqft which puts the price per square foot 33.05% lower than the current median sale per square foot for the city of Los Angeles.

About 1618 Lucile Ave

Detailed summary of property

1618 Lucile Ave is a multi family that recently sold in Los Angeles, CA 90026. This multi family property offered 4 bedrooms, 6 bathrooms, roughly 6,395 living square feet, and sits on an approximately 7,343 square foot lot. 1618 Lucile Ave was first listed on ArdentRealEstateGroup.com on February 5, 2021. The homeowner sold the property for $3,100,000. 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 176.79% higher than the current median priced home. Local homes that are currently for sale include 933 N Mariposa Ave, 2616-2618 Glendale Blvd and 211 S Hoover St. While the average home in Los Angeles, CA is selling in 106 days, 1618 Lucile Ave has a days on market of 6 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 1618 Lucile 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 1618 Lucile Ave

Public county record property details
Beds
3
Baths
1
Year built
1926
Sq. Ft.
6,395
Lot Size
7,343
Stories
1
Type
Commercial/Office/Residential (Mixed Use)
Pool
No
Spa
No
County
Los Angeles
Lot#
8
APN
5429-021-031

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
$1,225,000
Median List Price/Sq.Ft.
$787
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

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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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