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1922 Lake Shore Ave, Los Angeles, CA 90039
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1922 Lake Shore Ave Los Angeles, CA 90039

$1,495,000
  • 4 Beds
  • 4 Baths
  • 2,302 Sq.Ft.
For Sale
$1,495,000 Get Pre-Qualified
Map preview of 1922 Lake Shore Ave, Los Angeles, CA 90039

Property Overview: 1922 Lake Shore Ave Los Angeles, CA has 4 bedrooms, 4 bathrooms, 2,302 living square feet and 9,999 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: We are pleased to offer for sale a three-unit apartment community located at 1922-1924.5 Lake Shore Avenue. The subject property is located east of the Glendale Freeway and north of Sunset Boulevard. The property is located in Elysian Heights, which is typically characterized as being part of Echo Park & near Silver Lake. This submarket's popularity has grown significantly over recent years, with a vibrant and lively nightlife scene and trendy retail and coffee shops in the immediate area. With rent growth and developments in the area, the location has been catering to families, young professionals and artists alike in recent years. The property is situated on a large 9,999 square foot parcel and is comprised of two one-bedroom units and one two-bedroom unit. One unit will be delivered vacant allowing new ownership to immediately renovate and rent the unit out for a market rental rate. There is 24% remaining rental upside that new ownership can capture through interior renovations. Taking into consideration the desirable location and remaining value-add components, 1922-1924.5 Lake Shore Avenue is well suited to provide investors with healthy returns and long-term appreciation potential.

Listed by Sean Rosenzweig | BRE #01406343 | Marcus & Millichap
Last checked: 16 minutes ago | Last updated: April 12th, 2024 | Source CRMLS | DOM: 26
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Home details

Lot Sq. Ft
9,999
HOA Dues
$0/mo
Year built
1903
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24376363
City
Los Angeles
County
Los Angeles
Time on Site
35 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 3
  • Total # of Buildings: 2
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $2,554
  • Total Rent: $2,554
  • Pro Forma/Market Rent: $3,750
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,978
  • Total Rent: $1,978
  • Pro Forma/Market Rent: $2,500
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,750
  • Total Rent: $0
  • Pro Forma/Market Rent: $2,750
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4%
  • Gross Rent Multiplier: 17.11
  • Gross Scheduled Income: --
  • Net Operating Income: $59,744
  • Gross Operating Income: $87,384
Annual Expense Breakdown
  • Total Operating Expense: --

Open Houses for 1922 Lake Shore Ave

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Property Details for 1922 Lake Shore Ave

Interior Features
Kitchen Information
  • Has Appliances
Interior Features
  • Levels: Multi/Split, Two
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 3
  • No
  • Parking Features: None
Lot Information
  • Lot Size Source: Assessor
Property Information
  • Total # of Units: 3
  • Parcel Number: 5420010015
  • Year Built Source: Assessor
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: East of Alvarado Street & South of Baxter Street
View more facts & features

Local Los Angeles Agent

Sale History for 1922 Lake Shore Ave

Last sold on September 15th, 2011

  • April, 2024

  • Apr 4, 2024

    Date

    Active

    CRMLS: 24376363

    $1,495,000

    Price

  • September, 2011

  • Sep 15, 2011

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • July, 2011

  • Jul 15, 2011

    Date

    Sold (Public Records)

    Public Records

    $381,000

    Price

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Tax History for 1922 Lake Shore Ave

Assessed Value (2020): $437,974
Year Land Value Improved Value Assessed Value
2020 $281,381 $156,593 $437,974

Home Value Compared to the Market

This property vs the competition

1922 Lake Shore Ave is listed 21.05% higher than the median list price for the city of Los Angeles which has a median list price of $1,235,000. The median price per/sqft for Los Angeles is $774 and this home is listed at $649.44 per/sqft which puts the price per square foot 16.09% lower than the median price per square foot for the city of Los Angeles.

About 1922 Lake Shore Ave

Detailed summary of property

1922 Lake Shore Ave is a multi family located in Los Angeles, CA 90039 and is currently for sale. This multi family property offers 4 bedrooms, 4 bathrooms, roughly 2,302 living square feet, and sits on an approximately 9,999 square foot lot. 1922 Lake Shore Ave was first listed on ArdentRealEstateGroup.com on April 4, 2024. The homeowner is currently asking $1,495,000. The median priced home in Los Angeles is $1,235,000 with a median price per square foot of $774. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 21.05% higher than the median priced home. Local competing homes currently for sale include 1446 Portia St, 1932 Park Ave and 1932 Park Ave. While the average home in Los Angeles, CA is selling in 94 days, 1922 Lake Shore Ave has a days on market of 26 days. There are currently 3580 homes for sale in the Los Angeles real estate market and 2422 of them are single family homes while 1059 of them are condos and 93 are townhomes. For more information on this home for sale at 1922 Lake Shore Ave Los Angeles, CA 90039 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1922 Lake Shore Ave

Public county record property details
Beds
4
Baths
3
Year built
1903
Sq. Ft.
2,302
Lot Size
9,999
Stories
--
Type
Triplex (3 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
16
APN
5420-010-015

The source for these homes facts are from public records.

90039 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,695,000
Median List Price/Sq.Ft.
$964
Median Sold Price
$1,505,000
Median Sold Price/Sq.Ft.
$1,136
Total Inventory
50
Median Sale to List Price %
113.58%
Avg Days on Market
20
Loan Type
Conventional (23.08%), FHA (0%), VA (0%), Cash (7.69%), Other (7.69%)

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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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