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1645 Courtney Ave, Los Angeles, CA 90046
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1645 Courtney Ave Los Angeles, CA 90046

$3,650,000
  • 14 Beds
  • 12 Baths
  • 9,240 Sq.Ft.
Back Up Offer
$3,650,000 Get Pre-Qualified
Map preview of 1645 Courtney Ave, Los Angeles, CA 90046

Property Overview: 1645 Courtney Ave Los Angeles, CA has 14 bedrooms, 12 bathrooms, 9,240 living square feet and 9,936 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: 1645 Courtney Avenue and 7706 Hollywood Blvd are being offered for sale for the first time in over 50 Years!The offering consists of 22 Units and 17,580 of rentable living space located in the heart of Hollywood just off of Nichols Canyon. This unique rarely traded asset is situated in one of the most desirable rental markets in Los Angeles adjacent West Hollywood. There is an excellent unit mix consisting of Six 2 Bedroom / 1 Bathroom, fourteen 1 Bedroom / 1 Bathroom & Two Studio Units which is very desirable for today's rental market. Furthermore, 12 Units are being delivered Vacant at the close of escrow! This is a unique opportunity for a savvy investor to acquire a value-add property and immediately recognize it's potential. Additionally, the properties sit on a large 20,307 sf lot split between two parcels to prevent against ULA Tax for a potential exit strategy.

Listed by Michael Monempour | BRE #01996829 | Lyon Stahl Investment Real Estate, Inc.
Last checked: 7 minutes ago | Last updated: April 29th, 2024 | Source CRMLS | DOM: 38
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Home details

Lot Sq. Ft
9,936
HOA Dues
$0/mo
Year built
1949
Garage
--
Property Type:
Multi Family
Status
Back Up Offer
MLS#
24373435
City
Los Angeles
County
Los Angeles
Time on Site
39 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 12
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 4
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,545
  • Total Rent: $10,179
  • Pro Forma/Market Rent: $11,000
Unit Breakdown 2
  • # of Units: 6
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,102
  • Total Rent: $13,200
  • Pro Forma/Market Rent: $12,617
Unit Breakdown 3
  • # of Units: 2
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,650
  • Total Rent: $3,300
  • Pro Forma/Market Rent: $3,300
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5.46%
  • Gross Rent Multiplier: 11.59
  • Gross Scheduled Income: --
  • Net Operating Income: $199,430
  • Gross Operating Income: $305,503
Annual Expense Breakdown
  • Total Operating Expense: --

Open Houses for 1645 Courtney Ave

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Property Details for 1645 Courtney Ave

Interior Features
Cooling Information
  • Has Cooling
  • Wall/Window Unit(s)
Heating Information
  • No Heating
  • None
Kitchen Information
  • Has Appliances
Interior Features
  • Levels: Two
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 8
  • Has Parking
  • Parking Features: Driveway Down Slope From Street
Property Information
  • Total # of Units: 12
  • Parcel Number: 5551013009
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: East of Fairfax, West of La Brea & North of Sunset
View more facts & features

Local Los Angeles Agent

Sale History for 1645 Courtney Ave

View property's historical transactions

  • April, 2024

  • Apr 26, 2024

    Date

    Back Up Offer

    CRMLS: 24373435

    $3,650,000

    Price

  • Mar 27, 2024

    Date

    Active

    CRMLS: 24373435

    $3,650,000

    Price

Tax History for 1645 Courtney Ave

Assessed Value (2020): $319,431
Year Land Value Improved Value Assessed Value
2020 $149,210 $170,221 $319,431

Home Value Compared to the Market

This property vs the competition

1645 Courtney Ave is listed 197.96% higher than the median list price for the city of Los Angeles which has a median list price of $1,225,000. The median price per/sqft for Los Angeles is $774 and this home is listed at $395.02 per/sqft which puts the price per square foot 48.96% lower than the median price per square foot for the city of Los Angeles.

About 1645 Courtney Ave

Detailed summary of property

1645 Courtney Ave is a multi family located in Los Angeles, CA 90046 and is currently in escrow to be sold. This multi family property offers 14 bedrooms, 12 bathrooms, roughly 9,240 living square feet, and sits on an approximately 9,936 square foot lot. 1645 Courtney Ave was first listed on ArdentRealEstateGroup.com on March 27, 2024. The homeowner is currently asking $3,650,000. The median priced home in Los Angeles is $1,225,000 with a median price per square foot of $774. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 197.96% higher than the median priced home. Local competing homes currently for sale include 1129 Lodi Pl, 6511 Orange St and 444 N Lucerne Blvd. While the average home in Los Angeles, CA is selling in 96 days, 1645 Courtney Ave has a days on market of 38 days. There are currently 3485 homes for sale in the Los Angeles real estate market and 2372 of them are single family homes while 1013 of them are condos and 94 are townhomes. For more information on this home for sale at 1645 Courtney 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 1645 Courtney Ave

Public county record property details
Beds
16
Baths
12
Year built
1949
Sq. Ft.
9,240
Lot Size
9,932
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
1
APN
5551-013-009

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
$1,988,000
Median List Price/Sq.Ft.
$928
Median Sold Price
$2,000,000
Median Sold Price/Sq.Ft.
$856
Total Inventory
216
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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