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2222 Cambridge St Los Angeles, CA 90006

$2,950,000 Sold Price as of 12/28/2019

2 Beds
18 Baths
-- Sq.Ft.

Sold

$2,950,000 Sold Price as of 12/28/2019 Refinance Your Mortgage

Map preview of 2222 Cambridge St, Los Angeles, CA 90006

Property Overview: 2222 Cambridge St Los Angeles, CA has 2 bedrooms, 18 bathrooms, -- living square feet and -- square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 2222 Cambridge Street "The Cambridge" is a 9,064 SF multifamily property located in a growing Los Angeles sub market called Harvard Heights, which is known for its plethora of historic two story craftsman style homes. The property resides on a 6,250 square foot lot. The Cambridge is comprised of sixteen studio apartments and two 1 bedroom + 1 bathroom units. Seven of the units have been renovated and are setting the bar for rental comps in the immediate area. An onsite manager provides ease of management for the tenants and ownership.

Listed by David Weinberger | BRE #01349349 | Keller Williams Studio City
Co-listed by Adam Zunder | BRE #01821053 | Keller Williams Studio City

Last checked: 4 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 157

Home details

Lot Sq. Ft: --
HOA Dues: $0/mo
Year built: 1926
Garage: --
Property Type:: Multi Family

Status: Sold
MLS#: 19478870
City: Los Angeles
County: Los Angeles
Time on Site: 1345 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 18
Total # of Buildings: 1

Unit Breakdown 1

# of Units: 2
# of Beds: 1
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,230
Total Rent: $2,460
Pro Forma/Market Rent: $2,460

Unit Breakdown 2

# of Units: 16
# of Beds: 0
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,030
Total Rent: $16,480
Pro Forma/Market Rent: $16,480

Multi-Family Income/Expense Information

Property Income and Analysis

Gross Rent Multiplier: 12.9
Gross Scheduled Income: --
Net Operating Income: $142,729
Gross Operating Income: $248,246

Annual Expense Breakdown

Total Operating Expense: --

Property Details for 2222 Cambridge St

Lot Details / Garage and Parking

Parking/Garage Information

No
Parking Features: None

Property Information

Total # of Units: 18
Parcel Number: 5074012011

Location / Neighborhood

Location Information

Directions: Between Western & Vermont and Pico Blvd & Venice Blvd.

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Sale History for 2222 Cambridge St

Last sold for $2,950,000 on December 28th, 2019

December, 2019
Dec 28, 2019

Date

Sold

CRMLS: 19478870

$2,950,000

Price
Nov 22, 2019

Date

Pending

CRMLS: 19478870

$3,199,000

Price
Aug 23, 2019

Date

Price Change

CRMLS: 19478870

$3,199,000

Price
Jun 17, 2019

Date

Active

CRMLS: 19478870

$3,345,000

Price
December, 2019
Dec 27, 2019

Date

Sold (Public Records)

Public Records

$2,950,000

Price
November, 2017
Nov 22, 2017

Date

Expired

CRMLS: 17280806

$3,200,000

Price
Oct 25, 2017

Date

Withdrawn

CRMLS: 17280806

$3,200,000

Price
Oct 16, 2017

Date

Active

CRMLS: 17280806

$3,200,000

Price
Listing provided courtesy of CRMLS

Located in the historic district of Harvard Heights, 2222 Cambridge Street is an 18 unit investment opportunity constructed in 1926. The two-story property is constructed with wood frame and stucco, a characteristic that is rare for the time. The unit mix consists of 16 Singles, and 2 One-Bedroom One-Bathroom units. All units are master metered for gas and electricity. A camera system has been installed at the property. There islaminate flooring and carpet in the common area, exterior and interior paint (that has been done within the past 2 years), and light fixtures in interior hallways. Street parking is available surrounding the property. With current rents in place, there is over 25% rental upside.

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June, 2016
Jun 9, 2016

Date

Sold (Public Records)

Public Records

$860,000

Price

Tax History for 2222 Cambridge St

Assessed Value (2020): $2,951,980

Year	Land Value	Improved Value	Assessed Value
2020	$2,300,000	$651,980	$2,951,980

Home Value Compared to the Market

This property vs the competition

2222 Cambridge St sold on December 28, 2019 for 185.62% higher than the current median sold price for the city of Los Angeles which is $1,120,000.

About 2222 Cambridge St

Detailed summary of property

2222 Cambridge St is a multi family that recently sold in Los Angeles, CA 90006. This multi family property offered 2 bedrooms, 18 bathrooms, roughly -- living square feet, and sits on an approximately -- square foot lot. 2222 Cambridge St was first listed on ArdentRealEstateGroup.com on January 13, 2021. The homeowner sold the property for $2,950,000. Home in Los Angeles are selling for a median price of $1,120,000 and a median price per square foot of $724. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 185.62% higher than the current median priced home. Local homes that are currently for sale include 1111 3rd Ave, 3148 James M Wood Blvd and 838 S Gramercy Pl. While the average home in Los Angeles, CA is selling in 106 days, 2222 Cambridge St has a days on market of 157 days. There are currently 4052 homes for sale in the Los Angeles real estate market and 2782 of them are single family homes while 1148 of them are condos and 116 are townhomes. For more information on this home for sale at 2222 Cambridge St Los Angeles, CA 90006 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 2222 Cambridge St

Public county record property details

Beds: 18
Baths: 18
Year built: 1926
Sq. Ft.: 9,064
Lot Size: 6,250
Stories: --

Type: Apartment House (5+ Units)
Pool: No
Spa: No
County: Los Angeles
Lot#: 10
APN: 5074-012-011

The source for these homes facts are from public records.

90006 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$799,000

Median List Price/Sq.Ft.

$608

Median Sold Price

$760,000

Median Sold Price/Sq.Ft.

$597

Total Inventory

Median Sale to List Price %

87.46%

Avg Days on Market

Loan Type

Conventional (42.86%), FHA (0%), VA (0%), Cash (0%), Other (42.86%)

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Homes for Sale Near 2222 Cambridge St

Nearby Homes for Sale

1242 S Harvard Blvd, Los Angeles, CA 90006

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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.