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221 S Avenue 19, Los Angeles, CA 90031
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221 S Avenue 19 Los Angeles, CA 90031

$2,350,000
  • 9 Beds
  • 8 Baths
  • 4,130 Sq.Ft.
For Sale
$2,350,000 Get Pre-Qualified
Map preview of 221 S Avenue 19, Los Angeles, CA 90031

Property Overview: 221 S Avenue 19 Los Angeles, CA has 9 bedrooms, 8 bathrooms, 4,130 living square feet and 9,953 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 present 221 S Avenue 19 Apartments: an eight (8) +1 partially permitted private suite multifamily investment located in the heart of the Lincoln Heights submarket of Los Angeles. The property also includes Ready-To-Issue Permits for the construction of two ADU units consisting of two Studio units that will be situated near the rear of the large 9,952 SF lot zoned LA-R1.5. These three, single story, wood frame stucco buildings were built in 1923, 1924, and 1925and consist of 4,130 SF of living area with eight (8) on-site parking spaces. In addition to the 4,130 SF of living area, the ADU additions will add an additional 800 SF of living area to the property when completed. The front Two Bedroom unit was recently subdivided into one(1) Studio suite unit and (1) 1 Bedroom / 1 Bathroom unit with partial permits from the city of Los Angeles (Buyer to verify and complete all due diligence as to the legality of said partial permit | Ask Listing Agent for details regarding this new private suite and permits in place).The property currently features seven (7) One Bedroom | One Bathroom units, one (1) Two Bedroom | one Bathroom unit, and one (1) Studio Suite style unit (Buyer to verify and complete all due diligence as to the legality of said permit). The 2 Bedroom unit has undergone extensive renovations in addition to the new added Studio Suite. The additional 1 bedroom units have undergone extensive rehab including, but not limited to: completely redone bathrooms and showers, upgraded living rooms, new kitchens featuring brand new appliances, laminate flooring, new windows, all new paint, etc. Further, these have been updated with new plumbing and upgraded electrical systems. A new owner will benefit from the immediate upside that will be provided by completing the RTI ready ADUs to the property. All of the heavy lifting and costs associated with the City of Los Angles and been completed, and a new owner can potentially break ground shortly after the close of escrow. An investor will also benefit from the property's low annual expenses: no trash expense, separate gas and electric meters, and drought tolerant landscaping providing strong current and future cash flow.

Listed by Derrick Vartanian | BRE #01816119 | Lyon Stahl Investment Real Estate, Inc.
Last checked: 8 minutes ago | Last updated: May 15th, 2024 | Source CRMLS | DOM: 221
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Home details

Lot Sq. Ft
9,953
HOA Dues
$0/mo
Year built
1923
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
23320739
City
Los Angeles
County
Los Angeles
Time on Site
221 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 8
  • Total # of Buildings: 3
Unit Breakdown 1
  • # of Units: 7
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,683
  • Total Rent: $11,778
  • Pro Forma/Market Rent: $15,750
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,550
  • Total Rent: $2,550
  • Pro Forma/Market Rent: $2,650
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5.5%
  • Gross Rent Multiplier: 12.2
  • Gross Scheduled Income: --
  • Net Operating Income: $129,175
  • Gross Operating Income: $187,549
Annual Expense Breakdown
  • Total Operating Expense: --

Open Houses for 221 S Avenue 19

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Property Details for 221 S Avenue 19

Interior Features
Heating Information
  • Has Heating
  • Wall Furnace
Kitchen Information
  • Has Appliances
Interior Features
  • Levels: One
Exterior Features
Exterior Information
  • Other Structures: Shed(s)
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 8
  • Has Parking
  • Parking Features: Driveway, Uncovered
Lot Information
  • Lot Size Source: Assessor
Property Information
  • Total # of Units: 8
  • Parcel Number: 5447025013
  • 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: The property is located on S Avenue 19 just south of N Broadway near N San Fernando Rd.
View more facts & features

Local Los Angeles Agent

Sale History for 221 S Avenue 19

Last sold for $1,950,000 on May 20th, 2022

  • October, 2023

  • Oct 12, 2023

    Date

    Active

    CRMLS: 23320739

    $2,350,000

    Price

  • May, 2022

  • May 20, 2022

    Date

    Sold

    CRMLS: 21110549

    $1,950,000

    Price

  • Dec 7, 2021

    Date

    Active

    CRMLS: 21110549

    $2,145,000

    Price

  • Listing provided courtesy of CRMLS

    4.54% CAP | Turnkey Multifamily Opportunity. We are pleased to present the South Avenue 19 apartments: an eight (8) unit multifamily investment opportunity located in Lincoln Heights. These three single story, wood frame stucco buildings were built in 1923,1924, and 1925 and consist of 4,130 SF of living area with eight (8) on-site parking spaces. Further, this property is situated on a large 9,952 SF lot zoned LA-R1.5. The property features six (6) One bedroom | One bathroom units and two (2) spacious, completely remodeled Two bedroom | One bathroom units. Both of the 2 bedroom units and three of the 1 bedroom units have undergone extensive rehab including but not limited to: completely redone bathrooms and showers, upgraded living rooms, new kitchens featuring brand new appliances, laminate flooring, new windows, all new paint, etc. Further, these have been with updated with new plumbing and upgraded electrical. The new owner will benefit from the property's low annual expenses: no trash expense, separate gas and electric meters, and drought tolerant landscaping providing strong current and future cash flow. The property is located on S Avenue 19 just south of N Broadway near N San Fernando Rd. The property allows for tenants to live in close proximity to Downtown Los Angeles, with short commutes to the San Gabriel Valley, and close by transit at the Lincoln Heights/Cypress Park Station and Chinatown Station. The LA-USC Medical Center is just north of the 10 freeway, and nearby parks include Downey Recreation Center, Downey Playground and Lincoln Heights Recreation Center.

  • September, 2017

  • Sep 29, 2017

    Date

    Sold

    CRMLS: 17248432

    $1,250,000

    Price

  • Aug 4, 2017

    Date

    Pending

    CRMLS: 17248432

    $1,395,000

    Price

  • Jul 14, 2017

    Date

    Active Under Contract

    CRMLS: 17248432

    $1,395,000

    Price

  • Jul 10, 2017

    Date

    Active

    CRMLS: 17248432

    $1,395,000

    Price

  • Listing provided courtesy of CRMLS

    We are pleased to present the South Avenue 19 Apartments: an eight (8) unit multifamily investment opportunity located in Lincoln Heights. These single story, wood frame stucco buildings consist of 4,130 SF of living area and contain eight (8) on-site parking spaces. The property features seven (7) one bedroom / one bathroom units and one spacious, completely remodeled two bedroom / one bathroom unit. This unit has undergone extensive rehab including but not limited to: a completely redone bathroom, shower, and living area featuring brand new appliances, new sanded and stained hardwood floors, new windows, all new exterior paint, etc. The Sellers spared no expense in the full rehab of this particular unit. Furthermore, this property is situated on a large 9,952 SF lot zoned LA-R1.5. The new owner/investor will benefit from units that are separately metered for gas and electricity allowing the owner/investor to pay minimal utility expenses.

  • September, 2017

  • Sep 29, 2017

    Date

    Sold (Public Records)

    Public Records

    $1,250,000

    Price

  • March, 2013

  • Mar 8, 2013

    Date

    Sold (Public Records)

    Public Records

    $595,000

    Price

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Tax History for 221 S Avenue 19

Assessed Value (2020): $1,300,500
Year Land Value Improved Value Assessed Value
2020 $832,320 $468,180 $1,300,500

Home Value Compared to the Market

This property vs the competition

221 S Avenue 19 is listed 88% higher than the median list price for the city of Los Angeles which has a median list price of $1,250,000. The median price per/sqft for Los Angeles is $780 and this home is listed at $569.01 per/sqft which puts the price per square foot 27.05% lower than the median price per square foot for the city of Los Angeles.

About 221 S Avenue 19

Detailed summary of property

221 S Avenue 19 is a multi family located in Los Angeles, CA 90031 and is currently for sale. This multi family property offers 9 bedrooms, 8 bathrooms, roughly 4,130 living square feet, and sits on an approximately 9,953 square foot lot. 221 S Avenue 19 was first listed on ArdentRealEstateGroup.com on October 13, 2023. The homeowner is currently asking $2,350,000. The median priced home in Los Angeles is $1,250,000 with a median price per square foot of $780. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 88% higher than the median priced home. Local competing homes currently for sale include 1445 Calumet Ave, 2642 Queen St and 1889 Lemoyne St. While the average home in Los Angeles, CA is selling in 93 days, 221 S Avenue 19 has a days on market of 221 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 221 S Avenue 19 Los Angeles, CA 90031 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 221 S Avenue 19

Public county record property details
Beds
9
Baths
8
Year built
1923
Sq. Ft.
4,130
Lot Size
9,952
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
9
APN
5447-025-013

The source for these homes facts are from public records.

90031 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$840,000
Median List Price/Sq.Ft.
$661
Median Sold Price
$800,000
Median Sold Price/Sq.Ft.
$638
Total Inventory
34
Median Sale to List Price %
100%
Avg Days on Market
23
Loan Type
Conventional (18.18%), FHA (0%), VA (0%), Cash (36.36%), Other (18.18%)

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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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