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2233 Riverdale Ave, Los Angeles, CA 90031
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2233 Riverdale Ave Los Angeles, CA 90031

$4,600,000
  • 192 Beds
  • 136 Baths
  • 6,728 Sq.Ft.
For Sale
$4,600,000 Get Pre-Qualified
Map preview of 2233 Riverdale Ave, Los Angeles, CA 90031

Property Overview: 2233 Riverdale Ave Los Angeles, CA has 192 bedrooms, 136 bathrooms, 6,728 living square feet and 11,089 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: Introducing 2233 Riverdale Avenue - a prime 8-unit multifamily investment opportunity in the heart of Los Angeles! Nestled in Frogtown, around the corner from Silver Lake, this remarkable building is poised to deliver immediate returns for the savvy investor. The property has undergone a comprehensive renovation (including new electrical systems, plumbing, and roof) and now offers the perfect blend of modern comfort and unmatched location. Each of the eight units offers an inviting and comfortable living space, appealing to a wide range of tenants. The thoughtfully designed floor plans provide an efficient use of space for residents to relax and unwind. The modern finishes incorporated into each unit contribute to an elevated living experience, ensuring high tenant satisfaction and long-term occupancy. Additionally, the property features desirable amenities like secure gated entry and parking, central air conditioning, in-unit laundry, and an electric vehicle charger, further enhancing its appeal and marketability. With an incoming cap rate of nearly 5% and low operating costs bolstered by the recent renovations, buyers can enjoy peace of mind and steady revenue generated by this extremely low-maintenance building. Moreover, with an impending approval for a Tenancy in Common (TIC) structure, the potential for the individual sale of units (like condos) unlocks incredible future value and potential returns! With the demand for housing in Los Angeles higher than ever before, this forthcoming approval makes the property an even more enticing investment. With its strategic location, updated infrastructure, impressive revenue potential, and low-maintenance nature, 2233 Riverdale is poised to deliver exceptional returns for savvy investors. Don't miss out on this chance to acquire a turnkey investment with significant income and upside potential in one of Los Angeles' most desirable areas!

Listed by Tobin Koziol | BRE #01901868 | Helix Real Estate Management
Last checked: 16 minutes ago | Last updated: October 10th, 2023 | Source CRMLS | DOM: 281
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Home details

Lot Sq. Ft
11,089
HOA Dues
$0/mo
Year built
1972
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
PF23113521
City
Los Angeles
County
Los Angeles
Time on Site
308 days
Property Unit Breakdown
Unit Mix Summary
  • Total # of Units: 8
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 8
  • # of Beds: 24
  • # of Baths: 17
  • Total Rent: --
Property Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: --
  • Net Operating Income: --
  • Gross Operating Income: --
  • Laundry Own/Lease: Own
Annual Expense Breakdown
  • Total Operating Expense: --

Open Houses for 2233 Riverdale Ave

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Property Details for 2233 Riverdale Ave

Interior Features
Cooling Information
  • Has Cooling
  • Central Air, ENERGY STAR Qualified Equipment, Humidity Control
Heating Information
  • Has Heating
  • Central, ENERGY STAR Qualified Equipment
Laundry Information
  • Dryer Included, In Closet, Inside, Stackable, Washer Included
Interior Features
  • Security Features: Automatic Gate, Carbon Monoxide Detector(s), Card/Code Access, Closed Circuit Camera(s), Gated Community, Security Lights, Security System, Smoke Detector(s)
Exterior Features
Exterior Information
  • Roof: See Remarks, Shingle
  • Has Fence
  • Good Condition, Security, Wrought Iron
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 16
Lot Information
  • Lot Features: Landscaped, Level with Street, Near Public Transit, Park Nearby, Paved, Sprinklers Drip System
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Total # of Units: 8
  • Parcel Number: 5445028052
  • Entry Level: 1
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Water Source: Public
  • Utilities: Cable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Location / Neighborhood
Location Information
  • Directions: North side of Riverdale Avenue, just east of Riverside Drive
View more facts & features

Local Los Angeles Agent

Sale History for 2233 Riverdale Ave

Last sold for $3,000,000 on June 17th, 2019

  • June, 2023

  • Jun 28, 2023

    Date

    Active

    CRMLS: PF23113521

    $4,600,000

    Price

  • June, 2023

  • Jun 16, 2023

    Date

    Expired

    CRMLS: P1-12764

    $625,000

    Price

  • Feb 24, 2023

    Date

    Active

    CRMLS: P1-12764

    $625,000

    Price

  • Listing provided courtesy of CRMLS

    Located in the hidden gem of Frogtown, this lovely newly renovated 3 bed/2 bath unit presents the opportunity to enter into real estate ownership at a great price. The unit is light & bright and the open layout creates a seamless flow between living, dining, and kitchen areas. The kitchen has stainless-steel appliances and the fresh paint and brand new flooring throughout the unit displays a polished design. Both bathrooms are updated with walk-in showers and one is an ensuite. The unit has its own washer and dryer, central HVAC system, recessed lighting, fresh paint and 2 reserved parking spots. A community patio offers the opportunity to entertain al fresco and just down the street is access to the Los Angeles Greenway River Trail, great for pedestrians, cyclists, and equestrians alike. Close to Elysian Park and Dodger Stadium, and with easy access to the happenings in Silver Lake, Atwater Village, and DTLA, this is an opportunity you won't want to miss! This unit is part of a Tenants in Common (TIC) building.

  • June, 2023

  • Jun 16, 2023

    Date

    Expired

    CRMLS: P1-12766

    $675,000

    Price

  • Feb 24, 2023

    Date

    Active

    CRMLS: P1-12766

    $675,000

    Price

  • Listing provided courtesy of CRMLS

    Located in the hidden gem of Frogtown, this lovely newly renovated 3 bed/3 bath unit presents the opportunity to enter into real estate ownership at a great price. The open living area is warm and inviting and fresh paint & brand new flooring start at the door and continue throughout the unit. The kitchen has stainless-steel appliances, a large peninsula with breakfast bar and an adjacent dining area. Each of the 3 bedrooms features windows to fill the rooms with natural light, and this unit boasts 2 ensuites, each with a walk-in shower. The unit has its own washer and dryer, central HVAC system and recessed lighting, and 2 reserved parking spots. A community patio offers the opportunity to entertain al fresco and just down the street is access to the Los Angeles Greenway River Trail, great for pedestrians, cyclists, and equestrians alike. Close to Elysian Park and Dodger Stadium, and with easy access to the happenings in Silver Lake, Atwater Village, and DTLA, this is an opportunity you won't want to miss! This unit is part of a Tenants in Common (TIC) building.

  • June, 2019

  • Jun 17, 2019

    Date

    Sold (Public Records)

    Public Records

    $3,000,000

    Price

  • June, 2019

  • Jun 2, 2019

    Date

    Expired

    CRMLS: 19431344

    $2,920,000

    Price

  • Apr 8, 2019

    Date

    Withdrawn

    CRMLS: 19431344

    $2,920,000

    Price

  • Feb 28, 2019

    Date

    Price Change

    CRMLS: 19431344

    $2,920,000

    Price

  • Feb 5, 2019

    Date

    Active

    CRMLS: 19431344

    $2,969,000

    Price

  • Listing provided courtesy of CRMLS

    We are pleased to present this 8-Unit apartment building, 2233 Riverdale Ave, conveniently located in the Northeast LA, just minutes from Downtown, Elysian Park, and Griffith Park. The property was built in 1972 and features ample parking. The building is priced at approx. an attractive 7.3% cap rate (once the vacancies are renovated and leased). This property appeals to savvy investors who can achieve high cash flow through renovations.The Property is 100% Vacant. Seller will deliver RTI permits for unit conversions to 3 Bedrooms. The property has 16 parking spaces and sits on a large 11,088 parcel. Please contact listing agent for full marketing package.

  • October, 2018

  • Oct 1, 2018

    Date

    Sold

    CRMLS: 18347826

    $2,000,000

    Price

  • Aug 24, 2018

    Date

    Pending

    CRMLS: 18347826

    $2,500,000

    Price

  • Aug 1, 2018

    Date

    Active Under Contract

    CRMLS: 18347826

    $2,500,000

    Price

  • Aug 1, 2018

    Date

    Expired

    CRMLS: 18347826

    $2,500,000

    Price

  • May 31, 2018

    Date

    Active

    CRMLS: 18347826

    $2,500,000

    Price

  • Listing provided courtesy of CRMLS

    Attention Investors: This 8-unit complex in the Silver Lake/Echo Park/Elysian Valley area awaits your vision to see the potential behind an excellent opportunity with tremendous upside potential. Spacious units, each with 2 parking spaces. Additional income from community laundry. Tenants have month-to-month leases. Located inside this much sought after vintage Los Angeles area, and within 5-10 minutes to boom town DTLA and hot spots, historical LA Dodgers Stadium, Chinatown, Hollywood, Universal City, and close proximity to Highland Park, Eagle Rock, Glendale, Burbank and Pasadena. Walking distance to the re-surging Los Angeles River (a popular tourist spot for walkers, bikers and kayakers). Great family-oriented neighborhood with nearby schools. Unit #4 is currently vacant for Owner/Users, and/or ready to lease at market rate for Investors. This investment is ready for prime restructuring.

  • September, 2018

  • Sep 28, 2018

    Date

    Sold (Public Records)

    Public Records

    $2,000,000

    Price

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Tax History for 2233 Riverdale Ave

Assessed Value (2020): $3,063,200
Year Land Value Improved Value Assessed Value
2020 $1,224,000 $1,839,200 $3,063,200

Home Value Compared to the Market

This property vs the competition

2233 Riverdale Ave is listed 275.51% higher than the median list price for the city of Los Angeles which has a median list price of $1,225,000. The median price per/sqft for Los Angeles is $774 and this home is listed at $683.71 per/sqft which puts the price per square foot 11.67% lower than the median price per square foot for the city of Los Angeles.

About 2233 Riverdale Ave

Detailed summary of property

2233 Riverdale Ave is a multi family located in Los Angeles, CA 90031 and is currently for sale. This multi family property offers 192 bedrooms, 136 bathrooms, roughly 6,728 living square feet, and sits on an approximately 11,089 square foot lot. 2233 Riverdale Ave was first listed on ArdentRealEstateGroup.com on June 29, 2023. The homeowner is currently asking $4,600,000. The median priced home in Los Angeles is $1,225,000 with a median price per square foot of $774. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 275.51% higher than the median priced home. Local competing homes currently for sale include 646 N Larchmont Blvd, 2551 8th Ave and 1539 Lincoln Ave. While the average home in Los Angeles, CA is selling in 96 days, 2233 Riverdale Ave has a days on market of 281 days. There are currently 3485 homes for sale in the Los Angeles real estate market and 2372 of them are single family homes while 1013 of them are condos and 94 are townhomes. For more information on this home for sale at 2233 Riverdale Ave 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 2233 Riverdale Ave

Public county record property details
Beds
16
Baths
8
Year built
1972
Sq. Ft.
6,728
Lot Size
11,088
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
269,270
APN
5445-028-052

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
$828,000
Median List Price/Sq.Ft.
$566
Median Sold Price
$800,000
Median Sold Price/Sq.Ft.
$638
Total Inventory
35
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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Recently Sold Homes Near 2233 Riverdale Ave

1942 Riverside Dr, Los Angeles, CA 90039
$4,000,000 Last Sold Price
-- Beds
-- Baths
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1942 Riverside Dr
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-- Beds
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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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