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1656 Ricardo St Los Angeles, CA 90033

$880,000 Sold Price as of 05/31/2019

6 Beds
6 Baths
2,002 Sq.Ft.

Sold

$880,000 Sold Price as of 05/31/2019 Refinance Your Mortgage

Map preview of 1656 Ricardo St, Los Angeles, CA 90033

Property Overview: 1656 Ricardo St Los Angeles, CA has 6 bedrooms, 6 bathrooms, 2,002 living square feet and 7,500 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: The subject property is a 4 unit bungalow, apartment complex built in 1921. The unit mix is two 1 bedroom, 1 bathroom units with a den and two 2 bedroom, 2 bathroom units. Each unit is its own structure and has its own entrance with no shared walls. The improvements are built on a 7,500 square foot lot with total rentable square footage of 2,002. The area is undergoing a major economic renaissance during the past decade. The new apartment and mixed use developments and existing apartment renovations in the area have provided an increase in the demand for high end rental units. This property offers an affordable option to the high rents that the area now commands. The property sits conveniently near Downtown LA and in close proximity to Lincoln Heights, El Sereno, Mt. Washington, Highland Park, major freeways, and much more.

Listed by Morgan McMullin | BRE #01716570 | Compass

Last checked: 13 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 92

Home details

Lot Sq. Ft: 7,500
HOA Dues: $0/mo
Year built: 1921
Garage: --
Property Type:: Multi Family

Status: Sold
MLS#: 19435832
City: Los Angeles
County: Los Angeles
Time on Site: 1221 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 4
Total # of Buildings: 4

Unit Breakdown 1

# of Units: 1
# of Beds: 1
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,350
Total Rent: $1,350
Pro Forma/Market Rent: $1,500

Unit Breakdown 2

# of Units: 1
# of Beds: 1
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,390
Total Rent: $1,390
Pro Forma/Market Rent: $1,500

Unit Breakdown 3

# of Units: 1
# of Beds: 2
# of Baths: 2
Furnishing: Unfurnished
Actual Rent: $1,576
Total Rent: $1,576
Pro Forma/Market Rent: $1,700

Unit Breakdown 4

# of Units: 1
# of Beds: 2
# of Baths: 2
Furnishing: Unfurnished
Actual Rent: $1,690
Total Rent: $1,690
Pro Forma/Market Rent: $1,700

Multi-Family Income/Expense Information

Property Income and Analysis

Cap Rate: 5.56%
Gross Rent Multiplier: 12.42
Gross Scheduled Income: --
Net Operating Income: $49,799
Gross Operating Income: $69,910
Improvements Total: $148,543

Annual Expense Breakdown

Total Operating Expense: --

Property Details for 1656 Ricardo St

Interior Features

Cooling Information

No Cooling
None

Laundry Information

No Laundry
None

Kitchen Information

No Appliances
None

Lot Details / Garage and Parking

Parking/Garage Information

Has Parking
Parking Features: Unassigned

Property Information

Total # of Units: 4
Parcel Number: 5202019005

Location / Neighborhood

Location Information

Directions: Blocks Away from LAC+USC Health Sciences Campus. The property is located on the east side of Ricardo Street in Boyle Heights (Los Angeles), just south Valley Boulevard and east of Soto Street.

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Local Los Angeles Agent

Sale History for 1656 Ricardo St

Last sold for $880,000 on May 31st, 2019

June, 2019
Jun 4, 2019

Date

Sold

CRMLS: 19435832

$880,000

Price
May 22, 2019

Date

Pending

CRMLS: 19435832

$895,000

Price
Feb 19, 2019

Date

Active

CRMLS: 19435832

$895,000

Price
May, 2019
May 30, 2019

Date

Sold (Public Records)

Public Records

--

Price
May, 2019
May 29, 2019

Date

Sold (Public Records)

Public Records

$880,000

Price
November, 2018
Nov 6, 2018

Date

Canceled

CRMLS: 18343736

$895,000

Price
Jul 3, 2018

Date

Active Under Contract

CRMLS: 18343736

$895,000

Price
Jun 12, 2018

Date

Price Change

CRMLS: 18343736

$895,000

Price
May 16, 2018

Date

Active

CRMLS: 18343736

$945,000

Price
Listing provided courtesy of CRMLS

The subject property is a 4 unit bungalow, apartment complex built in 1921. The unit mix is two 2+1 units and two 2+2 units. Each unit is its own structure and has its own entrance with no shared walls. The improvements are built on a 7,500 square foot lot with total rentable square footage of 2,002. The area is undergoing a major economic renaissance during the past decade. The new apartment and mixed use developments and existing apartment renovations in the area have provided an increase in the demand for high end rental units. This property offers an affordable option to the high rents that the area now commands. The property sits conveniently near Downtown LA and in close proximity to Lincoln Heights, El Sereno, Mt. Washington, Highland Park, major freeways, and much more.

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Tax History for 1656 Ricardo St

Assessed Value (2020): $897,600

Year	Land Value	Improved Value	Assessed Value
2020	$591,600	$306,000	$897,600

Home Value Compared to the Market

This property vs the competition

1656 Ricardo St sold on May 31, 2019 for 24.79% lower than the current median sold price for the city of Los Angeles which is $1,190,000. The median sold price per/sqft for Los Angeles is $755 and this home is sold at $447.05 per/sqft which puts the price per square foot 40.79% lower than the current median sale per square foot for the city of Los Angeles.

About 1656 Ricardo St

Detailed summary of property

1656 Ricardo St is a multi family that recently sold in Los Angeles, CA 90033. This multi family property offered 6 bedrooms, 6 bathrooms, roughly 2,002 living square feet, and sits on an approximately 7,500 square foot lot. 1656 Ricardo St was first listed on ArdentRealEstateGroup.com on January 13, 2021. The homeowner sold the property for $880,000. 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 24.79% lower than the current median priced home. Local homes that are currently for sale include 2831 Boulder St, 1709 Sichel St and 2809 Folsom St. While the average home in Los Angeles, CA is selling in 92 days, 1656 Ricardo St has a days on market of 92 days. There are currently 3712 homes for sale in the Los Angeles real estate market and 2493 of them are single family homes while 1120 of them are condos and 93 are townhomes. For more information on this home for sale at 1656 Ricardo St Los Angeles, CA 90033 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1656 Ricardo St

Public county record property details

Beds: 4
Baths: 4
Year built: 1921
Sq. Ft.: 2,002
Lot Size: 7,499
Stories: --

Type: Quadruplex (4 Units, Any Combination)
Pool: No
Spa: No
County: Los Angeles
Lot#: 4
APN: 5202-019-005

The source for these homes facts are from public records.

90033 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$778,000

Median List Price/Sq.Ft.

$520

Median Sold Price

Median Sold Price/Sq.Ft.

Total Inventory

Median Sale to List Price %

Avg Days on Market

Loan Type

Conventional (0%), FHA (0%), VA (0%), Cash (0%), Other (0%)

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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.