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1805 W 80th St Los Angeles, CA 90047

$1,430,000 Sold Price as of 10/15/2019

9 Beds
9 Baths
5,479 Sq.Ft.

Sold

$1,430,000 Sold Price as of 10/15/2019 Refinance Your Mortgage

Map preview of 1805 W 80th St, Los Angeles, CA 90047

Property Overview: 1805 W 80th St Los Angeles, CA has 9 bedrooms, 9 bathrooms, 5,479 living square feet and 7,214 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 9 units in the Vermont Square/Morningside Circle neighborhood of South Los Angeles. Built in 1954, this two story apartment building is comprised of seven (7) 1 bed/1 bath units, one (1) 2 bed/1 bath unit and one (1) studio unit. With seven of nine units recently renovated and re-leased by current ownership, this property provides a future investor with higher than average returns for the area and double digit leveraged returns with the possibility of a very low down payment. 1805 West 80th Street is subject to the City of LAs seismic retrofitting ordinance and seller will provide all quotes for the work required to a potential investor. With one unit being delivered vacant, a potential investor has the ability to renovate and immediately rent the unit out and to boost year 1 returns significantly.

Listed by Sevak Keshishian | BRE #01887505 | Marcus & Millichap

Last checked: 1 minute ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 85

Home details

Lot Sq. Ft: 7,214
HOA Dues: $0/mo
Year built: 1954
Garage: --
Property Type:: Multi Family

Status: Sold
MLS#: 19480572
City: Los Angeles
County: Los Angeles
Time on Site: 1221 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 9
Total # of Buildings: 1

Unit Breakdown 1

# of Units: 1
# of Beds: 1
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,595
Total Rent: $1,595
Pro Forma/Market Rent: $1,595

Unit Breakdown 2

# of Units: 1
# of Beds: 1
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,595
Total Rent: $0
Pro Forma/Market Rent: $1,595

Unit Breakdown 3

# of Units: 1
# of Beds: 1
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,595
Total Rent: $1,595
Pro Forma/Market Rent: $1,595

Unit Breakdown 4

# of Units: 1
# of Beds: 0
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,295
Total Rent: $1,295
Pro Forma/Market Rent: $1,295

Unit Breakdown 5

# of Units: 1
# of Beds: 1
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,595
Total Rent: $1,595
Pro Forma/Market Rent: $1,595

Unit Breakdown 6

# of Units: 1
# of Beds: 1
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $825
Total Rent: $825
Pro Forma/Market Rent: $1,595

Unit Breakdown 7

# of Units: 1
# of Beds: 1
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,595
Total Rent: $1,595
Pro Forma/Market Rent: $1,595

Unit Breakdown 8

# of Units: 1
# of Beds: 2
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,995
Total Rent: $1,995
Pro Forma/Market Rent: $1,995

Unit Breakdown 9

# of Units: 1
# of Beds: 1
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,595
Total Rent: $1,595
Pro Forma/Market Rent: $1,595

Multi-Family Income/Expense Information

Property Income and Analysis

Cap Rate: 7.52%
Gross Rent Multiplier: 9.13
Gross Scheduled Income: --
Net Operating Income: $112,753
Gross Operating Income: $158,409
Laundry Income: $2,400
Improvements Total: $243,506

Annual Expense Breakdown

Total Operating Expense: $2,250
Electric: $7,020
Insurance: $2,466
Maintenance: $5,850
Professional Management: $7,800
Other Expenses: $500

Property Details for 1805 W 80th St

Interior Features

Kitchen Information

Has Appliances
Refrigerator

Lot Details / Garage and Parking

Parking/Garage Information

Has Parking
Parking Features: Assigned

Lot Information

Lot Size Source: Assessor

Property Information

Total # of Units: 9
Parcel Number: 6035001008

Location / Neighborhood

Location Information

Directions: Located on the northwest corner of Western & 80th, this property is located approximately 2.5 miles from the Inglewood Revitalization Project, approximately 2 miles from Chesterfield Square Shopping Center and less than 20 minutes away from the neighborhoods of Ladera Heights, View Park and Windsor Hills.

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Local Los Angeles Agent

Sale History for 1805 W 80th St

Last sold for $1,430,000 on October 15th, 2019

October, 2019
Oct 19, 2019

Date

Sold

CRMLS: 19480572

$1,430,000

Price
Sep 24, 2019

Date

Pending

CRMLS: 19480572

$1,500,000

Price
Sep 14, 2019

Date

Active Under Contract

CRMLS: 19480572

$1,500,000

Price
Aug 30, 2019

Date

Price Change

CRMLS: 19480572

$1,500,000

Price
Jun 21, 2019

Date

Active

CRMLS: 19480572

$1,550,000

Price
October, 2019
Oct 15, 2019

Date

Sold (Public Records)

Public Records

$1,430,000

Price
February, 2019
Feb 27, 2019

Date

Sold

CRMLS: SB18290879

$930,000

Price
Dec 13, 2018

Date

Pending

CRMLS: SB18290879

$1,100,000

Price
Dec 13, 2018

Date

Active

CRMLS: SB18290879

$1,100,000

Price
Listing provided courtesy of CRMLS

This is a 9 unit apartment building with eight 1 bedroom/1 bath units and one 2 bedroom/1 bath. It has a community laundry room and 6 garages along with parking in front of the unit. Also, please note that the accuracy of all information, including square footage and lot size, is deemed reliable, but not guaranteed and should be independently verified through personal inspection with appropriate professionals.

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February, 2019
Feb 27, 2019

Date

Sold (Public Records)

Public Records

$930,000

Price

Tax History for 1805 W 80th St

Assessed Value (2020): $1,430,000

Year	Land Value	Improved Value	Assessed Value
2020	$1,000,000	$430,000	$1,430,000

Home Value Compared to the Market

This property vs the competition

1805 W 80th St sold on October 15, 2019 for 26.05% 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 $273.77 per/sqft which puts the price per square foot 63.74% lower than the current median sale per square foot for the city of Los Angeles.

About 1805 W 80th St

Detailed summary of property

1805 W 80th St is a multi family that recently sold in Los Angeles, CA 90047. This multi family property offered 9 bedrooms, 9 bathrooms, roughly 5,479 living square feet, and sits on an approximately 7,214 square foot lot. 1805 W 80th St was first listed on ArdentRealEstateGroup.com on January 13, 2021. The homeowner sold the property for $1,430,000. 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 26.05% higher than the current median priced home. Local homes that are currently for sale include 3018 W Slauson Ave, 1557 W 52nd St and 210 W 77th St. While the average home in Los Angeles, CA is selling in 92 days, 1805 W 80th St has a days on market of 85 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 1805 W 80th St Los Angeles, CA 90047 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1805 W 80th St

Public county record property details

Beds: 9
Baths: 9
Year built: 1954
Sq. Ft.: 5,479
Lot Size: 7,212
Stories: --

Type: Apartment House (5+ Units)
Pool: No
Spa: No
County: Los Angeles
Lot#: 9,10
APN: 6035-001-008

The source for these homes facts are from public records.

90047 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$765,000

Median List Price/Sq.Ft.

$562

Median Sold Price

$660,000

Median Sold Price/Sq.Ft.

$559

Total Inventory

Median Sale to List Price %

94.29%

Avg Days on Market

Loan Type

Conventional (26.32%), FHA (10.53%), VA (5.26%), Cash (26.32%), 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.