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1627 Oak St, Los Angeles, CA 90015
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1627 Oak St Los Angeles, CA 90015

$900,000 Sold Price as of 11/23/2021
  • -- Beds
  • -- Baths
  • -- Sq.Ft.
Sold
$900,000 Sold Price as of 11/23/2021 Refinance Your Mortgage
Map preview of 1627 Oak St, Los Angeles, CA 90015

Property Overview: 1627 Oak St Los Angeles, CA has -- bedrooms, -- bathrooms, -- living square feet and 6,930 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: We are pleased to present for sale a FLAT & VACANT R3 development opportunity located in the Pico-Union submarket of Los Angeles! Zoned R3-1-HPOZ, TOC Tier 1 on a 6,874 sqft lot, a developer may build 8 units by right or up to 14 units utilizing TOC incentives. Per LA City Planning, the entitlement process should be easier than typical HPOZ projects since no demolition of any existing improvements/historic homes is required! (Buyer to Verify with LADBS). The site is also located within an Opportunity Zone which may provide tax incentives. Site is currently being used as a parking lot. Lots of new construction going on in the Westlake/Pico Union neighborhood. Do not miss this opportunity to purchase at a low price point & build near all the shopping, dining, and entertainment that LA Live/Downtown LA has to offer its tenants!! Buyer to verify all zoning details with relevant city departments. Contact listing agent for more details!

Listed by Daniel Shamooelian | BRE #01984269 | Keller Williams Beverly Hills
Last checked: 16 minutes ago | Last updated: September 28th, 2023 | Source CRMLS | DOM: 8

Home details

Lot Sq. Ft
6,930
HOA Dues
$0/mo
Year built
--
Garage
--
Property Type:
Land
Status
Sold
MLS#
21788478
City
Los Angeles
County
Los Angeles
Time on Site
958 days

Property Details for 1627 Oak St

Lot Details / Garage and Parking
Property Information
  • Has View
  • View: City Lights
  • Parcel Number: 5135028007
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Location / Neighborhood
Location Information
  • Directions: South of Venice Blvd, North of the 10 Freeway, West of the 101 Freeway, East of Union Ave
View more facts & features

Local Los Angeles Agent

Sale History for 1627 Oak St

Last sold for $900,000 on November 23rd, 2021

  • November, 2021

  • Nov 23, 2021

    Date

    Sold

    CRMLS: 21788478

    $900,000

    Price

  • Sep 30, 2021

    Date

    Active

    CRMLS: 21788478

    $950,000

    Price

  • September, 2021

  • Sep 13, 2021

    Date

    Canceled

    CRMLS: SR21163364

    $999,000

    Price

  • Jul 26, 2021

    Date

    Active

    CRMLS: SR21163364

    $999,000

    Price

  • Listing provided courtesy of CRMLS

    Current parking lot accommodates up to 21 vehicles. Corner lot with planning department and historical preservation overlay district approvals to build 11 unit multi-family residential project. The entitlements include 34 bedrooms with en-suite bathrooms for maximum revenue potential. The project takes advantage of TOC Tier 2 density bonus and is therefore required to set aside 1 unit for Extremely Low Income (ELI) household occupancy for a period of 55 years. The incentives achieved through the TOC application include 1) a front yard set back reduced to 0-feet (in lieu of 15 feet normally required) along 17th Street and 2) a 20% reduction to the open space requirement such that only 1,550 square feet are required instead of the customary 1,925 square feet. The open space is accommodated through the use of a rooftop deck with unobstructed views to DTLA over the 110 FWY and the Hollywood Hills across KoreaTown. This will be a 4-story structure with parking at grade for 11 vehicles on a standard corner lot. Entitlements have been secured with the Planning and HPOZ departments, buyer to submit own building set of plans to LADBS for building permits.

  • June, 2021

  • Jun 4, 2021

    Date

    Canceled

    CRMLS: 21724852

    $1,100,000

    Price

  • Apr 28, 2021

    Date

    Active

    CRMLS: 21724852

    $1,100,000

    Price

  • Listing provided courtesy of CRMLS

    We are pleased to offer for sale this this Fully Entitled Opportunity Zone 11-unit multifamily Development Opportunity, located in the Los Angeles - Pico Union submarket, nestled between Harvard Union and Downtown LA. The development features a 6,937 square foot corner lot, zoned R3-1-HPOZ. The HPOZ & TOC approved design calls for a total of 34-bedrooms + 34-bathrooms, with a unit mix consisting of (6) 3+3 units, (2) 2+2 units, and (3) 4+4 units excellent for Co-living/ Student housing. The design calls for three stories over parking at grade level for 11 vehicles plus bicycle stalls requiring no subterranean parking.

  • April, 2021

  • Apr 28, 2021

    Date

    Canceled

    CRMLS: 21703364

    $1,175,000

    Price

  • Mar 10, 2021

    Date

    Active

    CRMLS: 21703364

    $1,175,000

    Price

  • Listing provided courtesy of CRMLS

    We are pleased to offer for sale this this Fully Entitled Opportunity Zone 11-unit multifamily Development Opportunity, located in the Los Angeles - Pico Union submarket, nestled between Harvard Union and Downtown LA. The development features a 6,937 square foot corner lot, zoned R3-1-HPOZ. The HPOZ & TOC approved design calls for a total of 34-bedrooms + 34-bathrooms, with a unit mix consisting of (6) 3+3 units, (2) 2+2 units, and (3) 4+4 units excellent for Co-living/ Student housing. The design calls for three stories over parking at grade level for 11 vehicles plus bicycle stalls requiring no subterranean parking.

  • March, 2021

  • Mar 10, 2021

    Date

    Canceled

    CRMLS: 21679200

    $1,200,000

    Price

  • Jan 12, 2021

    Date

    Active

    CRMLS: 21679200

    $1,200,000

    Price

  • Listing provided courtesy of CRMLS

    We are pleased to offer for sale this this Fully Entitled Opportunity Zone 11-unit multifamily Development Opportunity, located in the Los Angeles - Pico Union submarket, nestled between Harvard Union and Downtown LA. The development features a 6,937 square foot corner lot, zoned R3-1-HPOZ. The HPOZ & TOC approved design calls for a total of 34-bedrooms + 34-bathrooms, with a unit mix consisting of (6) 3+3 units, (2) 2+2 units, and (3) 4+4 units excellent for Co-living/ Student housing. The design calls for three stories over parking at grade level for 11 vehicles plus bicycle stalls requiring no subterranean parking.

  • January, 2021

  • Jan 5, 2021

    Date

    Expired

    CRMLS: 20606742

    $1,550,000

    Price

  • Sep 14, 2020

    Date

    Withdrawn

    CRMLS: 20606742

    $1,550,000

    Price

  • Jul 20, 2020

    Date

    Active

    CRMLS: 20606742

    $1,550,000

    Price

  • Listing provided courtesy of CRMLS

    1627 Oak St is an 11-unit multi-family development opportunity located in Los Angeles Pico Union neighborhood nestled between Harvard Union and Downtown LA proper located in a sought-after opportunity zone. Unique opportunity to build in an established, historic area with numerous new developments underway. The subject property features 6,937 square foot lot on a corner lot, zoned R3-1-HPOZ. The site will be delivered entitled for 11 units. HPOZ & TOC approved design calls for 34 bedrooms all with ensuite bathrooms and central kitchens situated in a desirable mix of (6) 3+3 units, (2) 2+2 units, and (3) 4+4 units well suited for single room occupants. One unit will be reserved for Extremely Low-Income tenants. The design calls for three stories over parking at grade level for11 vehicles plus bicycle stalls requiring no subterranean parking. Amenities include a shared rooftop deck with unobstructed views of the DTLA skyline and Hollywood Hills...

  • February, 2020

  • Feb 26, 2020

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • June, 2018

  • Jun 22, 2018

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 1627 Oak St

Assessed Value (2020): --
Year Land Value Improved Value Assessed Value
2020 $989,043 -- --

Home Value Compared to the Market

This property vs the competition

1627 Oak St sold on November 23, 2021 for 20.17% lower than the current median sold price for the city of Los Angeles which is $1,190,000.

About 1627 Oak St

Detailed summary of property

1627 Oak St is a land that recently sold in Los Angeles, CA 90015. This land offered -- bedrooms, -- bathrooms, roughly -- living square feet, and sits on an approximately 6,930 square foot lot. 1627 Oak St was first listed on ArdentRealEstateGroup.com on September 30, 2021. The homeowner sold the property for $900,000. Home 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 20.17% lower than the current median priced home. Local homes that are currently for sale include 4309 Toland Way, 2412 N Eastern Ave and 2418 N Eastern Ave. While the average home in Los Angeles, CA is selling in 94 days, 1627 Oak St has a days on market of 8 days. There are currently 3654 homes for sale in the Los Angeles real estate market and 2456 of them are single family homes while 1102 of them are condos and 90 are townhomes. For more information on this home for sale at 1627 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 1627 Oak St

Public county record property details
Beds
--
Baths
--
Year built
--
Sq. Ft.
6,900
Lot Size
6,937
Stories
--
Type
Parking Lot
Pool
No
Spa
No
County
Los Angeles
Lot#
5
APN
5135-028-007

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
$799,000
Median List Price/Sq.Ft.
$723
Median Sold Price
$625,000
Median Sold Price/Sq.Ft.
$608
Total Inventory
81
Median Sale to List Price %
100%
Avg Days on Market
35
Loan Type
Conventional (9.09%), FHA (0%), VA (0%), Cash (27.27%), Other (18.18%)

Thinking of Selling?

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Thinking of Selling?
Call, Text or Message
(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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