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221 S Avenue 66, Los Angeles, CA 90042
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221 S Avenue 66 Los Angeles, CA 90042

$900,000 Sold Price as of 08/18/2022
  • 7 Beds
  • 4 Baths
  • 2,944 Sq.Ft.
Sold
$900,000 Sold Price as of 08/18/2022 Refinance Your Mortgage
Map preview of 221 S Avenue 66, Los Angeles, CA 90042

Property Overview: 221 S Avenue 66 Los Angeles, CA has 7 bedrooms, 4 bathrooms, 2,944 living square feet and 4,922 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Looking for a great investment? Look no further! This is a phenomenal opportunity to upgrade a 4-unit complex (3 two- bedroom units, and 1 one-bedroom unit) with off street parking in the heart of trendy Highland Park and reap the rewards!Family owned for several decades, the property is located on a quiet street in the Garvanza area, close to great restaurants, parks, and transit options to downtown LA. While there are improvements and modernizations to be made, there is great potential ROI: similar complexes are valued upward of $1.3M in the neighborhood; rent upside of 175% (current gross rent roll of $43k vs market rents of up to $120k annually), and neighborhood prices up 23% Year-over-year in 2022. Creative investors could even add units to space on the back of the lot currently used for parking. Sold As-Is; cash offers preferred.

Listed by Betcy Elie | BRE #01079218 | Meridian Capital Real Estate
Last checked: 6 minutes ago | Last updated: September 2nd, 2022 | Source CRMLS | DOM: 15

Home details

Lot Sq. Ft
4,922
HOA Dues
$0/mo
Year built
1955
Garage
--
Property Type:
Fourplex
Status
Sold
MLS#
V1-12511
City
Los Angeles
County
Los Angeles
Time on Site
734 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 1
  • # of Leased Units: 4
  • # of Electric Meters: 4
  • # of Gas Meters: 4
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: --
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $9,600
  • Total Rent: --
Unit Breakdown 2
  • # of Units: --
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $10,200
  • Total Rent: $10,200
  • Pro Forma/Market Rent: $10,200
Unit Breakdown 3
  • # of Units: --
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $12,000
  • Total Rent: --
Unit Breakdown 4
  • # of Units: --
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $12,000
  • Total Rent: --
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $43,800
  • Net Operating Income: $38,800
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $5,000
  • Trash: $0
  • Insurance: $1,467
  • Water/Sewer: $2,400

Property Details for 221 S Avenue 66

Interior Features
Cooling Information
  • Has Cooling
  • Wall/Window Unit(s)
Heating Information
  • Has Heating
Laundry Information
  • Has Laundry
  • Dryer Included, Washer Included
Fireplace Information
  • No Fireplace
  • None
Room Information
  • Flooring: Wood
Kitchen Information
  • Has Appliances
  • Gas Oven, Refrigerator
Interior Features
  • Levels: Two
  • Window Features: Screens
  • Security Features: Automatic Gate
Exterior Features
Exterior Information
  • Roof: Composition, Shingle
  • Has Fence
  • Brick
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 4
  • Has Parking
  • Parking Features: Assigned, Auto Driveway Gate, Parking Space
Lot Information
  • Lot Size Source: Public Records
Property Information
  • No View
  • View: None
  • Common Walls: 2+ Common Walls
  • Total # of Units: 4
  • Parcel Number: 5492037005
  • Year Built Source: Public Records
  • Architectural Style: Traditional
  • Foundation Details: Raised
  • Property is Attached
  • Accessibility Features: 2+ Access Exits
  • Offered With Property: Tenants. All four tenants are month to month; no leases in place.
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Assessment Information
  • Has Assessments
Location / Neighborhood
Location Information
  • Subdivision Name: Not Applicable
  • Directions: From Ventura County:101 S to the 134 to PasadenaExit Figueroa and turn left on FigueroaLeft on YorkRight on Avenue 66
  • Road Surface Type: Paved
Neighborhood Information
  • Community Features: Curbs, Urban
View more facts & features

Local Los Angeles Agent

Sale History for 221 S Avenue 66

Last sold for $900,000 on August 18th, 2022

  • August, 2022

  • Aug 18, 2022

    Date

    Sold

    CRMLS: V1-12511

    $900,000

    Price

  • Jun 21, 2022

    Date

    Active

    CRMLS: V1-12511

    $1,100,000

    Price

  • April, 2013

  • Apr 22, 2013

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 221 S Avenue 66

Assessed Value (2020): $71,901
Year Land Value Improved Value Assessed Value
2020 $19,025 $52,876 $71,901

Home Value Compared to the Market

This property vs the competition

221 S Avenue 66 sold on August 18, 2022 for 16.13% 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 $338.99 per/sqft which puts the price per square foot 55.1% lower than the current median sale per square foot for the city of Los Angeles.

About 221 S Avenue 66

Detailed summary of property

221 S Avenue 66 is a fourplex that recently sold in Los Angeles, CA 90042. This fourplex offered 7 bedrooms, 4 bathrooms, roughly 2,944 living square feet, and sits on an approximately 4,922 square foot lot. 221 S Avenue 66 was first listed on ArdentRealEstateGroup.com on May 15, 2022. The homeowner sold the property for $900,000. 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 16.13% lower than the current median priced home. Local homes that are currently for sale include 2126 Chickasaw Ave, 2415 Gates St and 2105 Keith St. While the average home in Los Angeles, CA is selling in 92 days, 221 S Avenue 66 has a days on market of 15 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 221 S Avenue 66 Los Angeles, CA 90042 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 66

Public county record property details
Beds
7
Baths
4
Year built
1955
Sq. Ft.
2,944
Lot Size
4,920
Stories
--
Type
Quadruplex (4 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
5
APN
5492-037-005

The source for these homes facts are from public records.

90042 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,089,000
Median List Price/Sq.Ft.
$748
Median Sold Price
$1,000,000
Median Sold Price/Sq.Ft.
$858
Total Inventory
94
Median Sale to List Price %
125.16%
Avg Days on Market
32
Loan Type
Conventional (31.25%), FHA (6.25%), VA (0%), Cash (12.5%), Other (12.5%)

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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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