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1714 7Th Ave, Los Angeles, CA 90019
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1714 7Th Ave Los Angeles, CA 90019

$1,075,000 Sold Price as of 12/29/2020
  • 6 Beds
  • 6 Baths
  • 3,018 Sq.Ft.
Sold
$1,075,000 Sold Price as of 12/29/2020 Refinance Your Mortgage
Map preview of 1714 7Th Ave, Los Angeles, CA 90019

Property Overview: 1714 7Th Ave Los Angeles, CA has 6 bedrooms, 6 bathrooms, 3,018 living square feet and 7,501 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: We are pleased to present the opportunity to acquire a 6-unit multifamily property located in the Arlington Heights neighborhood of Los Angeles. Built in 1949, this two-story apartment building is comprised of five 1bed/1bath units, one 1bed/1bath+den unit and offers six on-site parking spaces. All units are separately metered for gas, electricity and water and the property includes individual trash bins allowing a new investor to take advantage of low operating expenses. One 1bed/1bath unit will be delivered vacant. With over 29% of upside between scheduled and market rents, this property provides an outstanding opportunity for an astute investor to capitalize on this value-add deal.

Listed by Sevak Keshishian | BRE #01887505 | Marcus & Millichap
Last checked: 6 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 5

Home details

Lot Sq. Ft
7,501
HOA Dues
$0/mo
Year built
1949
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
20661998
City
Los Angeles
County
Los Angeles
Time on Site
1212 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 6
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,048
  • Total Rent: $1,048
  • Pro Forma/Market Rent: $1,525
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,050
  • Total Rent: $1,050
  • Pro Forma/Market Rent: $1,525
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,078
  • Total Rent: $1,078
  • Pro Forma/Market Rent: $1,525
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,525
  • Total Rent: $0
  • Pro Forma/Market Rent: $1,525
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,140
  • Total Rent: $1,140
  • Pro Forma/Market Rent: $1,650
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $713
  • Total Rent: $713
  • Pro Forma/Market Rent: $1,525
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 13.67
  • Gross Scheduled Income: --
  • Net Operating Income: $51,271
  • Gross Operating Income: $76,289
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 1714 7Th Ave

Interior Features
Heating Information
  • Has Heating
  • Wall Furnace
Lot Details / Garage and Parking
Parking/Garage Information
  • Has Parking
  • Parking Features: Uncovered
Property Information
  • Total # of Units: 6
  • Parcel Number: 5072015016
Location / Neighborhood
Location Information
  • Directions: Situated in the heart of Los Angeles, the subject property sits North of Washington Boulevard and East of Crenshaw Boulevard and is across the street from Arlington Heights Elementary School, Cochran Middle School and is within close proximity to the Los Angeles Technology Center and the metro line bus stop on Washington Blvd & Norton Avenue.
View more facts & features

Local Los Angeles Agent

Sale History for 1714 7Th Ave

Last sold for $1,075,000 on December 29th, 2020

  • December, 2020

  • Dec 30, 2020

    Date

    Sold

    CRMLS: 20661998

    $1,075,000

    Price

  • Dec 2, 2020

    Date

    Active Under Contract

    CRMLS: 20661998

    $1,075,000

    Price

  • Nov 24, 2020

    Date

    Pending

    CRMLS: 20661998

    $1,075,000

    Price

  • Nov 19, 2020

    Date

    Active

    CRMLS: 20661998

    $1,075,000

    Price

  • December, 2020

  • Dec 29, 2020

    Date

    Sold (Public Records)

    Public Records

    $1,075,000

    Price

  • July, 2014

  • Jul 23, 2014

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 1714 7Th Ave

Assessed Value (2020): $664,324
Year Land Value Improved Value Assessed Value
2020 $450,392 $213,932 $664,324

Home Value Compared to the Market

This property vs the competition

1714 7Th Ave sold on December 29, 2020 for 9.66% 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 $356.2 per/sqft which puts the price per square foot 52.82% lower than the current median sale per square foot for the city of Los Angeles.

About 1714 7Th Ave

Detailed summary of property

1714 7Th Ave is a multi family that recently sold in Los Angeles, CA 90019. This multi family property offered 6 bedrooms, 6 bathrooms, roughly 3,018 living square feet, and sits on an approximately 7,501 square foot lot. 1714 7Th Ave was first listed on ArdentRealEstateGroup.com on January 20, 2021. The homeowner sold the property for $1,075,000. 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 9.66% lower than the current median priced home. Local homes that are currently for sale include 1352 S Longwood Ave, 2201 Cambridge St and 2023 W 28th St. While the average home in Los Angeles, CA is selling in 94 days, 1714 7Th Ave has a days on market of 5 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 1714 7Th 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 1714 7Th Ave

Public county record property details
Beds
--
Baths
--
Year built
1949
Sq. Ft.
3,018
Lot Size
7,500
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
19
APN
5072-015-016

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
$1,599,800
Median List Price/Sq.Ft.
$696
Median Sold Price
$1,620,000
Median Sold Price/Sq.Ft.
$777
Total Inventory
66
Median Sale to List Price %
95.58%
Avg Days on Market
21
Loan Type
Conventional (18.18%), FHA (0%), VA (0%), Cash (9.09%), Other (9.09%)

Thinking of Selling?

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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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