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2035 Dracena Dr Los Angeles, CA 90027

$24,000,000 Sold Price as of 07/30/2020

72 Beds
60 Baths
-- Sq.Ft.

Sold

$24,000,000 Sold Price as of 07/30/2020 Refinance Your Mortgage

Map preview of 2035 Dracena Dr, Los Angeles, CA 90027

Property Overview: 2035 Dracena Dr Los Angeles, CA has 72 bedrooms, 60 bathrooms, -- living square feet and 31,982 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: **A TOUR WILL BE CONDUCTED FOR PROSPECTIVE BUYERS FRIDAY MARCH 13, 2020 BETWEEN 12PM - 3PM ****BEST AND FINAL OFFERS ARE DUE ON MONDAY, MARCH 16, 2020 AT NOON****IF YOU PLAN ON ATTENDING PLEASE EMAIL THE LISTING AGENTS**2305 Sale will be subject to the Probate Proceedings, including any approvals required thereunder or in connection therewith.Dracena Drive "Dracena Palms" is a sixty unit 66,768 SF multifamily property located in the Los Angeles Submarket "Los Feliz." The property resides on a 31,982 square foot lot.Dracena Palms constructed in 1972, is in an ideal location between N Vermont Avenue, Hillhurst Avenue and Los Feliz Blvd which are main thoroughfares that tenants can use to dine, shop, or ride bikes. This 60-unit building features forty-two 1-bedrooms, fifteen 2-bedrooms and three studios. There are 72 parking spaces (per Costar research).The location of Dracena Palms is in the highly desirable rental market of Los Feliz, known for its trendy eateries, outdoor activitie

Listed by David Weinberger | BRE #01349349 | Keller Williams Studio City
Co-listed by Philip Seymour | BRE #00630158 | Keller Williams Studio City

Last checked: 5 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 23

Home details

Lot Sq. Ft: 31,982
HOA Dues: $0/mo
Year built: 1972
Garage: --
Property Type:: Multi Family

Status: Sold
MLS#: 20562332
City: Los Angeles
County: Los Angeles
Time on Site: 1221 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 60
Total # of Buildings: 1

Unit Breakdown 1

# of Units: 42
# of Beds: 1
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $67,166
Total Rent: $67,166
Pro Forma/Market Rent: $105,000

Unit Breakdown 2

# of Units: 15
# of Beds: 2
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $28,134
Total Rent: $28,134
Pro Forma/Market Rent: $49,500

Unit Breakdown 3

# of Units: 3
# of Beds: 0
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $3,082
Total Rent: $3,082
Pro Forma/Market Rent: $4,800

Multi-Family Income/Expense Information

Property Income and Analysis

Gross Rent Multiplier: 17.4
Gross Scheduled Income: --
Net Operating Income: $765,046
Gross Operating Income: $1,261,737

Annual Expense Breakdown

Total Operating Expense: --

Virtual Tour

Use the following link to view this property's virtual tour:

Virtual Tour URL (external link)

Property Details for 2035 Dracena Dr

Lot Details / Garage and Parking

Parking/Garage Information

Has Parking
Parking Features: Gated

Property Information

Total # of Units: 60
Parcel Number: 5590005039

Location / Neighborhood

Location Information

Directions: The subject property is positioned between Los Feliz Blvd, Hillhurst Avenue, N Vermont Avenue, and Finley Avenue.

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Sale History for 2035 Dracena Dr

Last sold for $24,000,000 on July 31st, 2020

July, 2020
Jul 31, 2020

Date

Sold (Public Records)

Public Records

$24,000,000

Price
July, 2020
Jul 30, 2020

Date

Sold

CRMLS: 20562332

$24,000,000

Price
Apr 1, 2020

Date

Pending

CRMLS: 20562332

$22,000,000

Price
Mar 9, 2020

Date

Active

CRMLS: 20562332

$22,000,000

Price

Tax History for 2035 Dracena Dr

Assessed Value (2020): $7,567,643

Year	Land Value	Improved Value	Assessed Value
2020	$854,525	$6,713,118	$7,567,643

Home Value Compared to the Market

This property vs the competition

2035 Dracena Dr sold on July 30, 2020 for 1748.74% higher than the current median sold price for the city of Los Angeles which is $1,190,000.

About 2035 Dracena Dr

Detailed summary of property

2035 Dracena Dr is a multi family that recently sold in Los Angeles, CA 90027. This multi family property offered 72 bedrooms, 60 bathrooms, roughly -- living square feet, and sits on an approximately 31,982 square foot lot. 2035 Dracena Dr was first listed on ArdentRealEstateGroup.com on January 13, 2021. The homeowner sold the property for $24,000,000. 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 1748.74% higher than the current median priced home. While the average home in Los Angeles, CA is selling in 92 days, 2035 Dracena Dr has a days on market of 23 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 2035 Dracena Dr Los Angeles, CA 90027 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 2035 Dracena Dr

Public county record property details

Beds: --
Baths: --
Year built: 1972
Sq. Ft.: 66,768
Lot Size: 31,982
Stories: --

Type: Apartment House (5+ Units)
Pool: Yes
Spa: No
County: Los Angeles
Lot#: 9,10
APN: 5590-005-039

The source for these homes facts are from public records.

90027 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$2,370,000

Median List Price/Sq.Ft.

$921

Median Sold Price

$1,785,930

Median Sold Price/Sq.Ft.

$941

Total Inventory

Median Sale to List Price %

99.49%

Avg Days on Market

Loan Type

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