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2370 Portland St, Los Angeles, CA 90007
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2370 Portland St Los Angeles, CA 90007

$3,650,000 Sold Price as of 11/16/2022
  • 18 Beds
  • 12 Baths
  • 7,150 Sq.Ft.
Sold
$3,650,000 Sold Price as of 11/16/2022 Refinance Your Mortgage
Map preview of 2370 Portland St, Los Angeles, CA 90007

Property Overview: 2370 Portland St Los Angeles, CA has 18 bedrooms, 12 bathrooms, 7,150 living square feet and 8,875 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: USC STUDENT HOUSING - BUILT IN 1990. This impressive 6-unit student housing multi-family asset is located walking distance to The USC Campus. The property boasts an ideal student housing unit mix of all three-bedroom, 2.5 bath Townhouse-Style units. The students enjoy the comfort of secured entrance, subterranean gated parking and 24/7 DPS Campus Safety Patrol. This investment commands higher than average rents and with the constant student turnover provides consistent annual rent increases. Please do not disturb the tenants. All showings will be subject to an accepted offer.

Listed by Chase Simonton | BRE #01766871 | RE/MAX One
Co-listed by Robert Carlile | BRE #02066811 | RE/MAX One
Last checked: 12 minutes ago | Last updated: November 17th, 2022 | Source CRMLS | DOM: 83

Home details

Lot Sq. Ft
8,875
HOA Dues
$0/mo
Year built
1990
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
22175745
City
Los Angeles
County
Los Angeles
Time on Site
708 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 6
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $4,200
  • Total Rent: $4,200
  • Pro Forma/Market Rent: $4,200
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $4,200
  • Total Rent: $4,200
  • Pro Forma/Market Rent: $4,200
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $4,200
  • Total Rent: $4,200
  • Pro Forma/Market Rent: $4,200
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $4,200
  • Total Rent: $4,200
  • Pro Forma/Market Rent: $4,200
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $4,200
  • Total Rent: $4,200
  • Pro Forma/Market Rent: $4,200
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $3,450
  • Total Rent: $3,450
  • Pro Forma/Market Rent: $4,200
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.76%
  • Gross Rent Multiplier: 13.45
  • Gross Scheduled Income: --
  • Net Operating Income: $190,018
  • Gross Operating Income: $297,000
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 2370 Portland St

Interior Features
Cooling Information
  • Has Cooling
  • Central Air
Heating Information
  • Has Heating
  • Central
Kitchen Information
  • Has Appliances
  • Refrigerator
Interior Features
  • Security Features: 24 Hour Security, Automatic Gate, Gated Community
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 12
  • Has Parking
  • Parking Features: Subterranean, Auto Driveway Gate
Property Information
  • Total # of Units: 6
  • Parcel Number: 5124011007
  • Property Condition: Updated/Remodeled
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Location / Neighborhood
Location Information
  • Directions: Hoover St & West Adams- Major Cross Streets
View more facts & features

Local Los Angeles Agent

Sale History for 2370 Portland St

Last sold for $3,650,000 on November 16th, 2022

  • November, 2022

  • Nov 16, 2022

    Date

    Sold

    CRMLS: 22175745

    $3,650,000

    Price

  • Jul 6, 2022

    Date

    Active

    CRMLS: 22175745

    $4,400,000

    Price

  • January, 2009

  • Jan 23, 2009

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • September, 2003

  • Sep 15, 2003

    Date

    Sold (Public Records)

    Public Records

    $33,500

    Price

Show More

Tax History for 2370 Portland St

Assessed Value (2020): $668,442
Year Land Value Improved Value Assessed Value
2020 $296,270 $372,172 $668,442

Home Value Compared to the Market

This property vs the competition

2370 Portland St sold on November 16, 2022 for 213.58% higher than the current median sold price for the city of Los Angeles which is $1,274,000. The median sold price per/sqft for Los Angeles is $791 and this home is sold at $558.74 per/sqft which puts the price per square foot 29.36% lower than the current median sale per square foot for the city of Los Angeles.

About 2370 Portland St

Detailed summary of property

2370 Portland St is a multi family that recently sold in Los Angeles, CA 90007. This multi family property offered 18 bedrooms, 12 bathrooms, roughly 7,150 living square feet, and sits on an approximately 8,875 square foot lot. 2370 Portland St was first listed on ArdentRealEstateGroup.com on July 26, 2022. The homeowner sold the property for $3,650,000. Home in Los Angeles are selling for a median price of $1,274,000 and a median price per square foot of $791. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 213.58% higher than the current median priced home. Local homes that are currently for sale include 1885 W Jefferson Blvd, 1819 S Gramercy Pl and 1554 S Gramercy Pl. While the average home in Los Angeles, CA is selling in 100 days, 2370 Portland St has a days on market of 83 days. There are currently 3938 homes for sale in the Los Angeles real estate market and 2648 of them are single family homes while 1176 of them are condos and 106 are townhomes. For more information on this home for sale at 2370 Portland St Los Angeles, CA 90007 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 2370 Portland St

Public county record property details
Beds
18
Baths
18
Year built
1990
Sq. Ft.
7,150
Lot Size
8,875
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
110
APN
5124-011-007

The source for these homes facts are from public records.

90007 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,380,000
Median List Price/Sq.Ft.
$501
Median Sold Price
$525,000
Median Sold Price/Sq.Ft.
$589
Total Inventory
13
Median Sale to List Price %
102.94%
Avg Days on Market
55
Loan Type
Conventional (50%), FHA (0%), VA (0%), Cash (50%), Other (0%)

Thinking of Selling?

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(714) 706-1823

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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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