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1717 Park Ave Los Angeles, CA 90026

$8,100,000 Sold Price as of 07/12/2019

18 Beds
36 Baths
13,584 Sq.Ft.

Sold

$8,100,000 Sold Price as of 07/12/2019 Refinance Your Mortgage

Map preview of 1717 Park Ave, Los Angeles, CA 90026

Property Overview: 1717 Park Ave Los Angeles, CA has 18 bedrooms, 36 bathrooms, 13,584 living square feet and 19,166 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 exclusive listing of Park Ave, two buildings totaling 36 units in Echo Park. The unit mix consists of 18 studios and 18 one bedrooms covering over 13,500 sf of rentable space, and a delightful waterfront view of Echo Park Lake with its iconic swan paddle boats, walking/biking trails, and lush green terrain. This property includes secured gated entry with cameras, individually metered units for gas and electric, and a dozen updated units with new kitchen cabinets, flooring, countertops, closet doors, blinds and windows. With current rents below the market standard, an investor has the ability to capitalize on the upside opportunity driven by the prominent location of the building.

Listed by Joshua Ross | BRE #01918715 | Marcus & Millichap
Co-listed by Tadeh Minnassian | BRE #01960390 | Marcus & Millichap

Last checked: 2 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 58

Home details

Lot Sq. Ft: 19,166
HOA Dues: $0/mo
Year built: 1958
Garage: --
Property Type:: Multi Family

Status: Sold
MLS#: 19461182
City: Los Angeles
County: Los Angeles
Time on Site: 1224 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 36
Total # of Buildings: 2

Unit Breakdown 1

# of Units: 18
# of Beds: 0
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,160
Total Rent: $20,880
Pro Forma/Market Rent: $1,450

Unit Breakdown 2

# of Units: 18
# of Beds: 1
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $992
Total Rent: $17,856
Pro Forma/Market Rent: $1,895

Multi-Family Income/Expense Information

Property Income and Analysis

Gross Rent Multiplier: 17.43
Gross Scheduled Income: --
Net Operating Income: $265,351
Gross Operating Income: $464,760
Improvements Total: $323,967

Annual Expense Breakdown

Total Operating Expense: $7,200
Electric: $3,635
Trash: $4,595
Insurance: $7,471
Maintenance: $14,400
Professional Management: $18,033
Water/Sewer: $13,201
Other Expenses: $1,000

Property Details for 1717 Park Ave

Interior Features

Cooling Information

Has Cooling
See Remarks

Laundry Information

Has Laundry
See Remarks

Lot Details / Garage and Parking

Parking/Garage Information

Has Parking
Parking Features: Unassigned

Lot Information

Lot Size Source: See Remarks

Property Information

Total # of Units: 36
Parcel Number: 5404017004

Location / Neighborhood

Location Information

Directions: 1717-1725 Park Avenue

View more facts & features

Local Los Angeles Agent

Sale History for 1717 Park Ave

Last sold for $8,100,000 on July 12th, 2019

July, 2019
Jul 25, 2019

Date

Sold

CRMLS: 19461182

$8,100,000

Price
Jul 25, 2019

Date

Pending

CRMLS: 19461182

$8,100,000

Price
May 1, 2019

Date

Active

CRMLS: 19461182

$8,100,000

Price
July, 2019
Jul 12, 2019

Date

Sold (Public Records)

Public Records

$8,100,000

Price

Tax History for 1717 Park Ave

Assessed Value (2020): $3,904,160

Year	Land Value	Improved Value	Assessed Value
2020	$2,985,000	$919,160	$3,904,160

Home Value Compared to the Market

This property vs the competition

1717 Park Ave sold on July 12, 2019 for 580.67% higher 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 $596.29 per/sqft which puts the price per square foot 21.02% lower than the current median sale per square foot for the city of Los Angeles.

About 1717 Park Ave

Detailed summary of property

1717 Park Ave is a multi family that recently sold in Los Angeles, CA 90026. This multi family property offered 18 bedrooms, 36 bathrooms, roughly 13,584 living square feet, and sits on an approximately 19,166 square foot lot. 1717 Park Ave was first listed on ArdentRealEstateGroup.com on January 13, 2021. The homeowner sold the property for $8,100,000. 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 580.67% higher than the current median priced home. Local homes that are currently for sale include 11755 National Blvd, 11666 Mayfield Ave and 11942-11948 Darlington Ave. While the average home in Los Angeles, CA is selling in 93 days, 1717 Park Ave has a days on market of 58 days. There are currently 3718 homes for sale in the Los Angeles real estate market and 2495 of them are single family homes while 1123 of them are condos and 94 are townhomes. For more information on this home for sale at 1717 Park Ave Los Angeles, CA 90026 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1717 Park Ave

Public county record property details

Beds: 8
Baths: 16
Year built: 1958
Sq. Ft.: 6,048
Lot Size: 9,389
Stories: --

Type: Apartment House (5+ Units)
Pool: No
Spa: No
County: Los Angeles
Lot#: 45
APN: 5404-017-004

The source for these homes facts are from public records.

90026 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$1,300,000

Median List Price/Sq.Ft.

$766

Median Sold Price

$1,450,000

Median Sold Price/Sq.Ft.

$817

Total Inventory

Median Sale to List Price %

105.92%

Avg Days on Market

Loan Type

Conventional (0%), FHA (0%), VA (0%), Cash (15.38%), 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.