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1643 N Martel Ave, Los Angeles, CA 90046
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1643 N Martel Ave Los Angeles, CA 90046

$4,475,000 Sold Price as of 11/05/2020
  • 77 Beds
  • 66 Baths
  • -- Sq.Ft.
Sold
$4,475,000 Sold Price as of 11/05/2020 Refinance Your Mortgage
Map preview of 1643 N Martel Ave, Los Angeles, CA 90046

Property Overview: 1643 N Martel Ave Los Angeles, CA has 77 bedrooms, 66 bathrooms, -- living square feet and 7,035 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: This building requires no seismic retrofit upgrades and houses a large parking garage and an on-site laundry facility. Nine (9) of the units have been extensively renovated with new kitchen and bath cabinets, modern tiles, counters, and flooring. The facade of the property has been designer-finished with gorgeous railings, contemporary wood siding, and clean drought-tolerant landscaping. This stabilized asset gives an investor the ability to have very strong cash flow in one of the most desirable rental markets in California.

Listed by Saadia 'Sam' Liberow | BRE #01933858 | Marcus & Millichap
Last checked: 2 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 30

Home details

Lot Sq. Ft
7,035
HOA Dues
$0/mo
Year built
1986
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
20612844
City
Los Angeles
County
Los Angeles
Time on Site
1212 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 11
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $3,175
  • Total Rent: $3,175
  • Pro Forma/Market Rent: $3,200
Unit Breakdown 2
  • # of Units: 10
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $3,000
  • Total Rent: $3,000
  • Pro Forma/Market Rent: $3,200
Unit Breakdown 3
  • # of Units: 11
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,600
  • Total Rent: $1,600
  • Pro Forma/Market Rent: $1,750
Unit Breakdown 4
  • # of Units: 2
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,200
  • Total Rent: $2,200
  • Pro Forma/Market Rent: $2,200
Unit Breakdown 5
  • # of Units: 3
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,200
  • Total Rent: $0
  • Pro Forma/Market Rent: $2,200
Unit Breakdown 6
  • # of Units: 4
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,200
  • Total Rent: $2,200
  • Pro Forma/Market Rent: $2,200
Unit Breakdown 7
  • # of Units: 5
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $3,000
  • Total Rent: $3,000
  • Pro Forma/Market Rent: $3,200
Unit Breakdown 8
  • # of Units: 6
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $3,000
  • Total Rent: $3,000
  • Pro Forma/Market Rent: $3,200
Unit Breakdown 9
  • # of Units: 7
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,200
  • Total Rent: $2,200
  • Pro Forma/Market Rent: $2,200
Unit Breakdown 10
  • # of Units: 8
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,200
  • Total Rent: $2,200
  • Pro Forma/Market Rent: $2,200
Unit Breakdown 11
  • # of Units: 9
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,200
  • Total Rent: $2,200
  • Pro Forma/Market Rent: $2,200
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 13.8
  • Gross Scheduled Income: --
  • Net Operating Income: $219,150
  • Gross Operating Income: $315,930
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 1643 N Martel Ave

Interior Features
Laundry Information
  • Has Laundry
  • Community
Fireplace Information
  • Has Fireplace
  • Living Room, Kitchen, Dining Room, Bath
Room Information
  • Flooring: Wood
Kitchen Information
  • Has Appliances
  • Gas Cooktop
Interior Features
  • Levels: Multi/Split
Exterior Features
Exterior Information
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • Has Parking
  • Parking Features: Covered
Lot Information
  • Lot Size Source: Assessor
Property Information
  • No View
  • View: None
  • Total # of Units: 11
  • Parcel Number: 5550015010
  • Property Condition: Updated/Remodeled
Location / Neighborhood
Location Information
  • Directions: Steps away from Hollywood Blvd; Just North of Sunset
View more facts & features

Local Los Angeles Agent

Sale History for 1643 N Martel Ave

Last sold on November 6th, 2020

  • November, 2020

  • Nov 10, 2020

    Date

    Sold

    CRMLS: 20612844

    $4,475,000

    Price

  • Sep 2, 2020

    Date

    Active Under Contract

    CRMLS: 20612844

    $4,495,000

    Price

  • Aug 3, 2020

    Date

    Active

    CRMLS: 20612844

    $4,495,000

    Price

  • November, 2020

  • Nov 6, 2020

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • August, 2020

  • Aug 1, 2020

    Date

    Expired

    CRMLS: 20548414

    $4,495,000

    Price

  • Mar 24, 2020

    Date

    Price Change

    CRMLS: 20548414

    $4,495,000

    Price

  • Jan 28, 2020

    Date

    Price Change

    CRMLS: 20548414

    $4,550,000

    Price

  • Jan 28, 2020

    Date

    Active

    CRMLS: 20548414

    $4,500,000

    Price

  • Listing provided courtesy of CRMLS

    Do not disturb tenants

  • May, 2020

  • May 1, 2020

    Date

    Expired

    CRMLS: 19491598

    $4,825,000

    Price

  • Jan 8, 2020

    Date

    Withdrawn

    CRMLS: 19491598

    $4,825,000

    Price

  • Jul 23, 2019

    Date

    Active

    CRMLS: 19491598

    $4,825,000

    Price

  • Listing provided courtesy of CRMLS

    Incredible opportunity to purchase a very well maintained and upgraded non-rent controlled apartment building in the central and prime Western Hollywood neighborhood. 10 units plus one non confirming studio. The property is within walking distance to all shops and restaurants on Hollywood Boulevard, Sunset Boulevard, Fairfax Boulevard and La Brea Avenue. The popular Hollywood hiking trail of Runyon Canyon sits at the top of the street as well. This building requires no seimic retrofit upgrades and houses a large parking garage and an on-site laundry facility. 9 of the units have been extensively upgradedwith new kitchen and bath cabinets, modern tiles, counters, and flooring. The facade of the property has been designer-finished with gorgeous railings, contemporary wood siding, and clean drought-tolerant landscaping.This is a property that should not be missed **10 plus 1 non conforming Studio**

  • March, 2018

  • Mar 30, 2018

    Date

    Sold (Public Records)

    Public Records

    $3,950,000

    Price

Show More

Tax History for 1643 N Martel Ave

Assessed Value (2020): $4,110,880
Year Land Value Improved Value Assessed Value
2020 $2,876,706 $1,234,174 $4,110,880

Home Value Compared to the Market

This property vs the competition

1643 N Martel Ave sold on November 5, 2020 for 277.73% higher than the current median sold price for the city of Los Angeles which is $1,190,000.

About 1643 N Martel Ave

Detailed summary of property

1643 N Martel Ave is a multi family that recently sold in Los Angeles, CA 90046. This multi family property offered 77 bedrooms, 66 bathrooms, roughly -- living square feet, and sits on an approximately 7,035 square foot lot. 1643 N Martel Ave was first listed on ArdentRealEstateGroup.com on January 13, 2021. The homeowner sold the property for $4,475,000. 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 277.73% higher than the current median priced home. Local homes that are currently for sale include 5314 Loma Linda Ave, 4942 Maplewood Ave and 1400 N. Hobart Blvd. While the average home in Los Angeles, CA is selling in 94 days, 1643 N Martel Ave has a days on market of 30 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. For more information on this home for sale at 1643 N Martel Ave Los Angeles, CA 90046 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1643 N Martel Ave

Public county record property details
Beds
14
Baths
11
Year built
1986
Sq. Ft.
7,383
Lot Size
7,034
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
1,2
APN
5550-015-010

The source for these homes facts are from public records.

90046 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,950,000
Median List Price/Sq.Ft.
$938
Median Sold Price
$2,000,000
Median Sold Price/Sq.Ft.
$856
Total Inventory
224
Median Sale to List Price %
117.72%
Avg Days on Market
34
Loan Type
Conventional (2.7%), FHA (0%), VA (0%), Cash (13.51%), Other (2.7%)

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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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