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1629 S Van Ness Ave, Los Angeles, CA 90019
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1629 S Van Ness Ave Los Angeles, CA 90019

$1,910,000 Sold Price as of 01/19/2022
  • 13 Beds
  • 7 Baths
  • 6,403 Sq.Ft.
Sold
$1,910,000 Sold Price as of 01/19/2022 Refinance Your Mortgage
Map preview of 1629 S Van Ness Ave, Los Angeles, CA 90019

Property Overview: 1629 S Van Ness Ave Los Angeles, CA has 13 bedrooms, 7 bathrooms, 6,403 living square feet and 8,062 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 5.40% Cap Rate & 38% Upside Potential! A spectacular mid- century 6-unit garden style property in Mid City: one of the most centrally located and highly desirable rental markets in Los Angeles. Built in 1960 for famed R&B and jazz singer Nellie Lutcher, the building is booming with rich history and soulful decor. The complex consists of 2 stories, is individually metered for gas and electric, and features ample on-site parking, laundry facilities, and spacious floorplans. There is a unit mix of (4) Two-bedroom/One- bathroom units, (1) One-bedroom/One-bathroom unit, and (1) sprawling Four-bedroom/2.5-bathroom Owners Unit townhome complete with a patio, garage, private bar, and walk in closets. Plans have been submitted with the city to convert the garage into an additional Studio ADU. With spillover from tenants who are priced out of surrounding neighborhoods i.e. Miracle Mile to the north, and Culver City to the west, as well as from neighboring Koreatown and red hot West Adams, this asset is strategically positioned for a growing demand of tenants who want to be near everything and close to the action! This property will not last long on the market with its incredible value and spectacular location.

Listed by Elijah Korobkin | BRE #01897085 | Central Realty Advisors Inc
Last checked: 5 minutes ago | Last updated: March 23rd, 2022 | Source CRMLS | DOM: 35

Home details

Lot Sq. Ft
8,062
HOA Dues
$0/mo
Year built
1960
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
21100961
City
Los Angeles
County
Los Angeles
Time on Site
971 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 6
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 4
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $3,385
  • Total Rent: $3,385
  • Pro Forma/Market Rent: $4,000
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,230
  • Total Rent: $1,230
  • Pro Forma/Market Rent: $1,850
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,950
  • Total Rent: $1,950
  • Pro Forma/Market Rent: $2,500
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,747
  • Total Rent: $1,747
  • Pro Forma/Market Rent: $2,500
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,563
  • Total Rent: $1,563
  • Pro Forma/Market Rent: $2,500
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,616
  • Total Rent: $1,616
  • Pro Forma/Market Rent: $2,500
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 12.3
  • Gross Scheduled Income: --
  • Net Operating Income: $93,093
  • Gross Operating Income: $139,692
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 1629 S Van Ness Ave

Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 8
  • Has Parking
Lot Information
  • Lot Size Source: Other
Property Information
  • Total # of Units: 6
  • Parcel Number: 5073023021
Location / Neighborhood
Location Information
  • Directions: North of Washington Blvd, South of Venice Blvd, East of Arlington Ave, West of Western Ave
View more facts & features

Local Los Angeles Agent

Sale History for 1629 S Van Ness Ave

Last sold for $1,910,000 on January 19th, 2022

  • January, 2022

  • Jan 19, 2022

    Date

    Sold

    CRMLS: 21100961

    $1,910,000

    Price

  • Nov 2, 2021

    Date

    Active

    CRMLS: 21100961

    $1,725,000

    Price

  • December, 2020

  • Dec 2, 2020

    Date

    Sold (Public Records)

    Public Records

    $1,600,000

    Price

  • December, 2020

  • Dec 1, 2020

    Date

    Sold

    CRMLS: 20613238

    $1,600,000

    Price

  • Nov 29, 2020

    Date

    Pending

    CRMLS: 20613238

    $1,725,000

    Price

  • Sep 4, 2020

    Date

    Price Change

    CRMLS: 20613238

    $1,725,000

    Price

  • Aug 4, 2020

    Date

    Active

    CRMLS: 20613238

    $1,775,000

    Price

  • Listing provided courtesy of CRMLS

    5.40% Cap Rate & 12.3 GRM!! A spectacular mid- century 6-unit in Mid City: one of the most CENTRAL and highly desirable rental markets in Los Angeles. Built in 1960, the complex consists of 2 stories, is individually metered for gas and electric, and features ample on-site parking, laundry facilities, and spacious floorplans. There is a unit mix of (4) Two-bedroom/One-bathroom units, (1) One-bedroom/One- bathroom unit, and (1) sprawling Owner's Unit: a Four-Bedroom/2.5-Bathroom Townhome, complete with a patio, garage, private bar, and walk in closets. Units are individually metered for Gas and Electric. Seller completed soft story retrofit!! Priced at $269/SF and 12.3 GRM, this property is priced to sell!

  • January, 2014

  • Jan 7, 2014

    Date

    Sold (Public Records)

    Public Records

    $1,225,000

    Price

Show More

Tax History for 1629 S Van Ness Ave

Assessed Value (2020): $1,374,091
Year Land Value Improved Value Assessed Value
2020 $1,008,804 $365,287 $1,374,091

Home Value Compared to the Market

This property vs the competition

1629 S Van Ness Ave sold on January 19, 2022 for 52.65% higher than the current median sold price for the city of Los Angeles which is $1,130,000. The median sold price per/sqft for Los Angeles is $754 and this home is sold at $269.4 per/sqft which puts the price per square foot 64.27% lower than the current median sale per square foot for the city of Los Angeles.

About 1629 S Van Ness Ave

Detailed summary of property

1629 S Van Ness Ave is a multi family that recently sold in Los Angeles, CA 90019. This multi family property offered 13 bedrooms, 7 bathrooms, roughly 6,403 living square feet, and sits on an approximately 8,062 square foot lot. 1629 S Van Ness Ave was first listed on ArdentRealEstateGroup.com on November 2, 2021. The homeowner sold the property for $1,910,000. Home in Los Angeles are selling for a median price of $1,130,000 and a median price per square foot of $754. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 52.65% higher than the current median priced home. Local homes that are currently for sale include 1117 S Serrano Ave, 913 S Wilton Pl and 1722 Crenshaw Blvd. While the average home in Los Angeles, CA is selling in 99 days, 1629 S Van Ness Ave has a days on market of 35 days. There are currently 3982 homes for sale in the Los Angeles real estate market and 2673 of them are single family homes while 1195 of them are condos and 107 are townhomes. For more information on this home for sale at 1629 S Van Ness Ave Los Angeles, CA 90019 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1629 S Van Ness Ave

Public county record property details
Beds
9
Baths
5
Year built
1960
Sq. Ft.
6,403
Lot Size
8,062
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
40
APN
5073-023-021

The source for these homes facts are from public records.

90019 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,399,000
Median List Price/Sq.Ft.
$690
Median Sold Price
$1,935,500
Median Sold Price/Sq.Ft.
$855
Total Inventory
79
Median Sale to List Price %
102.14%
Avg Days on Market
18
Loan Type
Conventional (14.29%), FHA (0%), VA (14.29%), Cash (14.29%), Other (14.29%)

Thinking of Selling?

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Recently Sold Homes Near 1629 S Van Ness Ave

1648 S Van Ness, Los Angeles, CA 90019
$1,220,000 Last Sold Price
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1530 S Van Ness Ave, Los Angeles, CA 90019
$1,440,000 Last Sold Price
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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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