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1954 Park Grove Ave Los Angeles, CA 90007

$875,000 Sold Price as of 12/05/2019

4 Beds
4 Baths
3,688 Sq.Ft.

Sold

$875,000 Sold Price as of 12/05/2019 Refinance Your Mortgage

Map preview of 1954 Park Grove Ave, Los Angeles, CA 90007

Property Overview: 1954 Park Grove Ave Los Angeles, CA has 4 bedrooms, 4 bathrooms, 3,688 living square feet and 6,521 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: We are pleased to offer for sale this four (4) unit multifamily investment opportunity located at 1954 Park Grove Avenue, just a short distance from the internationally renowned University of Southern California (USC). This two-story building, consisting of one single structure, was constructed of wood frame and stucco on a raised foundation built in 1921 with a square footage of 3,688 on a 6,520-square foot lot. The building has been reinforced and upgraded in compliance with the latest city codes and regulations, and is comprised of a remarkable unit mix, consisting of four (4) 1-bedroom +1-bathroom units. The subject property is 75% occupied, and is subject to the City of Los Angeles rent control regulation.The investment boasts spacious floor plans, four (4) large storages/ garages , on-site parking, recently painted, and individually metered for gas and electricity.

Listed by Davis Saadian | BRE #01921748 | BRC Advisors- BH

Last checked: 12 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 28

Home details

Lot Sq. Ft: 6,521
HOA Dues: $0/mo
Year built: 1921
Garage: --
Property Type:: Multi Family

Status: Sold
MLS#: 19508932
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: 1

Unit Breakdown 1

# of Units: 1
# of Beds: 1
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,800
Total Rent: $1,800
Pro Forma/Market Rent: $1,800

Unit Breakdown 2

# of Units: 1
# of Beds: 1
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $992
Total Rent: $992
Pro Forma/Market Rent: $1,800

Unit Breakdown 3

# of Units: 1
# of Beds: 1
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $854
Total Rent: $854
Pro Forma/Market Rent: $1,800

Unit Breakdown 4

# of Units: 1
# of Beds: 1
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $929
Total Rent: $929
Pro Forma/Market Rent: $1,800

Multi-Family Income/Expense Information

Property Income and Analysis

Gross Rent Multiplier: 16.85
Gross Scheduled Income: --
Net Operating Income: $32,311
Gross Operating Income: $54,900
Improvements Total: $16,031

Annual Expense Breakdown

Total Operating Expense: --

Property Details for 1954 Park Grove 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: Other

Property Information

Total # of Units: 4
Parcel Number: 5124018003

Location / Neighborhood

Location Information

Directions: 1954 Park Grove Avenue, LA 90007

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Local Los Angeles Agent

Sale History for 1954 Park Grove Ave

Last sold for $875,000 on December 5th, 2019

December, 2019
Dec 6, 2019

Date

Sold

CRMLS: 19508932

$875,000

Price
Nov 5, 2019

Date

Active Under Contract

CRMLS: 19508932

$925,000

Price
Oct 7, 2019

Date

Pending

CRMLS: 19508932

$925,000

Price
Sep 9, 2019

Date

Active

CRMLS: 19508932

$925,000

Price
December, 2019
Dec 4, 2019

Date

Sold (Public Records)

Public Records

$860,000

Price
October, 2013
Oct 8, 2013

Date

Sold (Public Records)

Public Records

--

Price

Tax History for 1954 Park Grove Ave

Assessed Value (2020): $860,000

Year	Land Value	Improved Value	Assessed Value
2020	$600,000	$260,000	$860,000

Home Value Compared to the Market

This property vs the competition

1954 Park Grove Ave sold on December 5, 2019 for 22.27% 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 $250.81 per/sqft which puts the price per square foot 66.78% lower than the current median sale per square foot for the city of Los Angeles.

About 1954 Park Grove Ave

Detailed summary of property

1954 Park Grove Ave is a multi family that recently sold in Los Angeles, CA 90007. This multi family property offered 4 bedrooms, 4 bathrooms, roughly 3,688 living square feet, and sits on an approximately 6,521 square foot lot. 1954 Park Grove Ave was first listed on ArdentRealEstateGroup.com on January 13, 2021. The homeowner sold the property for $875,000. 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 22.27% lower than the current median priced home. Local homes that are currently for sale include 1543 W 22nd Pl, 1411 Menlo Ave and 2621 Juliet St. While the average home in Los Angeles, CA is selling in 92 days, 1954 Park Grove Ave has a days on market of 28 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 1954 Park Grove Ave Los Angeles, CA 90007 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1954 Park Grove Ave

Public county record property details

Beds: 4
Baths: 4
Year built: 1921
Sq. Ft.: 3,688
Lot Size: 6,520
Stories: --

Type: Quadruplex (4 Units, Any Combination)
Pool: No
Spa: No
County: Los Angeles
Lot#: 3-5
APN: 5124-018-003

The source for these homes facts are from public records.

90007 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$1,199,999

Median List Price/Sq.Ft.

$616

Median Sold Price

$710,000

Median Sold Price/Sq.Ft.

$645

Total Inventory

Median Sale to List Price %

94.79%

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.