162 S Avenue 55 Los Angeles, CA 90042

$8,150,000 Sold Price as of 05/09/2018

-- Beds
-- Baths
24,864 Sq.Ft.

Off Market

$8,150,000 Sold Price as of 05/09/2018 Refinance Your Mortgage

Property Overview: 162 S Avenue 55 Los Angeles, CA has -- bedrooms, -- bathrooms, 24,864 living square feet and 24,507 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Home Value Compared to the Market

162 S Avenue 55 is currently an off market home in the city of Los Angeles. If you are considering making a home purchase, the value you pay for your home will depend on the market you're looking to purchase in. The city of Los Angeles has a median list price of $1,235,000. The median price per/sqft for Los Angeles is $774. With those numbers in mind, if you are looking to purchase a median priced home in Los Angeles, CA and put 20% down you will need to save up $247,000 for the down payment and will need roughly $24,700 for closing costs on top of the down payment. Homeowners who are looking to sell their home could expect to pay an average of 5% (2.5% to the listing agent and 2.5% to the buyers agent) in agent commissions when it comes to selling their home. With the median sale price for a home in Los Angeles the commission could be as much as $59,500. If you're thinking of selling and want to save, contact a local Ardent Real Estate Agent today.

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Sale History for 162 S Avenue 55

Last sold for $8,150,000 on May 9th, 2018

February, 2021
Feb 13, 2021

Date

Expired

CRMLS: 20660142

$10,995,000

Price
Nov 16, 2020

Date

Active

CRMLS: 20660142

$10,995,000

Price
Listing provided courtesy of CRMLS

30-unit investment opportunity in prime Highland Park, one of the most desirable and rapidly developing submarkets of Los Angeles. 26 out of the 30 units have been extensively renovated and redesigned with new open-concept layouts and high-end finishes including new stainless-steel appliances, solid stone countertops, hardwood flooring throughout, new kitchen cabinets and backsplashes, beautiful bathrooms with new sinks and vanities, frosted glass front doors, spacious closets, new fixtures, matte black designer finishes, and new HVAC units. The electrical systems have been upgraded and rewired and 23 out of the 30 units are equipped with new, in-unit stackable washer and dryers. 4 units haven't been renovated, leaving room for an investor to capitalize on the remaining rental upside. The Property has secured entry and features beautiful exterior renovations and common area amenities including a lounge area, BBQ, and firepit. The seismic retrofit work has also been completed.

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November, 2020
Nov 5, 2020

Date

Expired

CRMLS: 20618102

$11,350,000

Price
Aug 14, 2020

Date

Active

CRMLS: 20618102

$11,350,000

Price
Listing provided courtesy of CRMLS

30-unit investment opportunity in prime Highland Park, one of the most desirable and rapidly developing submarkets of Los Angeles. 26 out of the 30 units have been extensively renovated and redesigned with new open-concept layouts and high-end finishes including new stainless-steel appliances, solid stone countertops, hardwood flooring throughout, new kitchen cabinets and backsplashes, beautiful bathrooms with new sinks and vanities, frosted glass front doors, spacious closets, new fixtures, matte black designer finishes, and new HVAC units. The electrical systems have been upgraded and rewired and 23 out of the 30 units are equipped with new, in-unit stackable washer and dryers. 4 units haven't been renovated, leaving room for an investor to capitalize on the remaining rental upside. The Property has secured entry and features beautiful exterior renovations and common area amenities including a lounge area, BBQ, and firepit. The seismic retrofit work has also been completed.

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April, 2020
Apr 14, 2020

Date

Expired

CRMLS: 20548856

$11,400,000

Price
Apr 13, 2020

Date

Withdrawn

CRMLS: 20548856

$11,400,000

Price
Jan 30, 2020

Date

Active

CRMLS: 20548856

$11,400,000

Price
Listing provided courtesy of CRMLS

162 South Avenue 55, in Los Angeles, CA 90042. Built in 1963 and renovated in 2019, this 30-unit turnkey property totals 24,864 SF in the heart of Highland Park just east of North Figueroa Street. Surrounded by contemporary landmarks and dining destinations on the Figueroa Street corridor, the subject property is a community that offers residents all that Highland Park has to offer.This offering presents an investor the opportunity to purchase a turnkey, stabilized asset with meticulous renovations and spacious units. At the asking price, the GRM on current income is 14.08 with a 4.63% CAP rate. Large units of approximately 748 SF for one-bedrooms and over 1,000 SF for the two-bedrooms as well as renovations in excess of $1 MM that include new flooring, stainless steel appliances, quartz countertops, high-end cabinetry, modern light fixtures, meticulous tile bathrooms and air conditioning and heat in every unit will allow an investor to achieve pro forma rents with minimal improvemen

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May, 2018
May 9, 2018

Date

Sold (Public Records)

Public Records

$8,150,000

Price
August, 2017
Aug 17, 2017

Date

Sold (Public Records)

Public Records

$6,325,000

Price

Tax History for 162 S Avenue 55

Assessed Value (2020): $8,479,260

Year	Land Value	Improved Value	Assessed Value
2020	$5,930,280	$2,548,980	$8,479,260

About 162 S Avenue 55

Detailed summary of property

162 S Avenue 55 is categorized with a use code of Apartment House (5+ Units) in Los Angeles, CA 90042 and last sold on May 9, 2018 for $8,150,000. This property has -- bedrooms, -- bathrooms, roughly 24,864 living square feet, and sits on an approximately 24,507 square foot lot. Homes in Los Angeles are selling for a median price of $1,190,000 and a median price per square foot of $755. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 584.87% higher than the current median priced home. 162 S Avenue 55 was last sold on May 9, 2018 for $8,150,000. Local nearby listings include 2345 Roscomare Rd #308, 6516 Barton Ave and 7920 S Normandie Ave. The average home in Los Angeles, CA is selling in 94 days. There are currently 3580 homes for sale in the Los Angeles real estate market and 2422 of them are single family homes while 1059 of them are condos and 93 are townhomes. If you are the homeowner and looking to sell the home at 162 S Avenue 55 Los Angeles, CA 90042 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 162 S Avenue 55

Public county record property details

Beds: --
Baths: --
Year built: 1963
Sq. Ft.: 24,864
Lot Size: 24,507
Stories: --

Type: Apartment House (5+ Units)
Pool: Yes
Spa: No
County: Los Angeles
Lot#: 11,44
APN: 5468-014-025

The source for these homes facts are from public records.

90042 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$999,000

Median List Price/Sq.Ft.

$740

Median Sold Price

$1,000,000

Median Sold Price/Sq.Ft.

$858

Total Inventory

Median Sale to List Price %

125.16%

Avg Days on Market

Loan Type

Conventional (31.25%), FHA (6.25%), VA (0%), Cash (12.5%), Other (12.5%)

Thinking of Selling?

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Thinking of Selling?
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(714) 706-1823

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