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2416 S Ridgeley Dr, Los Angeles, CA 90016
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2416 S Ridgeley Dr Los Angeles, CA 90016

$1,525,000 Sold Price as of 03/08/2024
  • 12 Beds
  • 6 Baths
  • 5,896 Sq.Ft.
Sold
$1,525,000 Sold Price as of 03/08/2024 Refinance Your Mortgage
Map preview of 2416 S Ridgeley Dr, Los Angeles, CA 90016

Property Overview: 2416 S Ridgeley Dr Los Angeles, CA has 12 bedrooms, 6 bathrooms, 5,896 living square feet and 9,647 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Opportunity to own in one of most rapidly appreciating neighborhoods in all of Los Angeles! 2416 S Ridgeley Dr is a 6-unit apartment building situated in the heart of flourishing West Adams. Currently operating at a 5.37% CAP and 11.61 GRM, the subject property is ideal for any investor looking for strong day 1 income with plenty of room to grow rents. 2416 S Ridgeley Dr is comprised of (6) 2-Bed/1-Bath units - (1) Unit is currently vacant and (1) unit is a Sec. 8 tenant. There are (3) two-car garages spaces for a total of 6 parking spots. The subject property is only minutes from trendy Downtown Culver City, Downtown Los Angeles and the city's metro line. Renters will enjoy the proximity to the 10 , 405 and 110 freeways, making commuting in Los Angeles a breeze. This is an excellent opportunity to acquire an investment property with strong income and future upside in rents and the neighborhood.

Listed by Cameron Samimi | BRE #02035763 | Lyon Stahl Investment Real Estate, Inc.
Last checked: 3 minutes ago | Last updated: March 8th, 2024 | Source CRMLS | DOM: 109

Home details

Lot Sq. Ft
9,647
HOA Dues
$0/mo
Year built
1945
Garage
6 Car
Property Type:
Apartment
Status
Sold
MLS#
SB23189376
City
Los Angeles
County
Los Angeles
Time on Site
268 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 6
  • Total # of Buildings: 1
  • # of Electric Meters: 6
  • # of Gas Meters: 6
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Actual Rent: $2,666
  • Total Rent: $2,666
  • Pro Forma/Market Rent: $3,000
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Actual Rent: $1,325
  • Total Rent: $1,325
  • Pro Forma/Market Rent: $3,000
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Actual Rent: $3,000
  • Total Rent: $3,000
  • Pro Forma/Market Rent: $3,000
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Actual Rent: $1,487
  • Total Rent: $1,487
  • Pro Forma/Market Rent: $3,000
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Actual Rent: $1,487
  • Total Rent: $1,487
  • Pro Forma/Market Rent: $3,000
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Actual Rent: $1,487
  • Total Rent: $1,487
  • Pro Forma/Market Rent: $3,000
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5.37%
  • Gross Rent Multiplier: 11.61
  • Gross Scheduled Income: $137,424
  • Net Operating Income: $85,710
  • Gross Operating Income: $133,301
Annual Expense Breakdown
  • Total Operating Expense: $47,592
  • Electric: $0
  • Gas/Fuel: $0
  • Trash: $0
  • Insurance: $0
  • Professional Management: $0
  • Water/Sewer: $0

Property Details for 2416 S Ridgeley Dr

Interior Features
Laundry Information
  • No Laundry
  • None
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 6
  • # of Parking Spaces: 6
Lot Information
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 6
  • Parcel Number: 5063020011
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: Off Hauser and Washington
Neighborhood Information
  • Community Features: Urban
View more facts & features

Local Los Angeles Agent

Sale History for 2416 S Ridgeley Dr

Last sold for $1,525,000 on March 8th, 2024

  • March, 2024

  • Mar 8, 2024

    Date

    Sold

    CRMLS: SB23189376

    $1,525,000

    Price

  • Oct 24, 2023

    Date

    Active

    CRMLS: SB23189376

    $1,595,000

    Price

  • January, 2023

  • Jan 13, 2023

    Date

    Sold

    CRMLS: 22172595

    $1,300,000

    Price

  • Jun 29, 2022

    Date

    Active

    CRMLS: 22172595

    $1,700,000

    Price

  • Listing provided courtesy of CRMLS

    Don't miss this prime investment opportunity in a hot market located in Mid City, Los Angeles. A two story six (6) unit apartment building all comprised of 2Bed/1Bath. New silicon roof install in 2022 over the entire Apartment and carport. With close proximity to the 10 Freeway and the Westside, this property offers tenants convenient access to freeway and bus lines for work or school. Tenants are also close to the entertainment and business centers of Santa Monica, The Grove, and Downtown Los Angeles. Currently five (5) of the six (6) units are occupied with tenants on month to month leases. The 1st unit is vacant. All units are separately metered for gas and electric. Sold as is and no warranties/guarantees made. Tenant breakdown and financials will be provided upon request. Seller will not give any credits or make any repairs. Seller and/or sellers agent makes no representation as to room size, lot size, etc. Buyer to verify with appropriate entities and satisfy self. Buyers to cooperate with seller 1031 exchange. Property will ONLY be shown once offer is accepted. Please do not disturb tenants.

  • February, 2021

  • Feb 9, 2021

    Date

    Expired

    CRMLS: 21679138

    $2,300,000

    Price

  • Jan 12, 2021

    Date

    Active

    CRMLS: 21679138

    $2,300,000

    Price

  • Listing provided courtesy of CRMLS

    Standard sale. Property consist of 6 units and all are rented. Rent control area. The gas and electricity are individually metered. This building is centrally located to shops, schools and freeways. Next to 10 freeway and minutes to 110 and 405 freeway. Also close to downtown LA.

Show More

Tax History for 2416 S Ridgeley Dr

Assessed Value (2020): $400,571
Year Land Value Improved Value Assessed Value
2020 $138,371 $262,200 $400,571

Home Value Compared to the Market

This property vs the competition

2416 S Ridgeley Dr sold on March 8, 2024 for 25.2% 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 $270.52 per/sqft which puts the price per square foot 65.8% lower than the current median sale per square foot for the city of Los Angeles.

About 2416 S Ridgeley Dr

Detailed summary of property

2416 S Ridgeley Dr is a apartment that recently sold in Los Angeles, CA 90016. This apartment offered 12 bedrooms, 6 bathrooms, roughly 5,896 living square feet, and sits on an approximately 9,647 square foot lot. 2416 S Ridgeley Dr was first listed on ArdentRealEstateGroup.com on October 11, 2023. The homeowner sold the property for $1,525,000. 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 25.2% higher than the current median priced home. Local homes that are currently for sale include 1556 S Genesee Ave, 1814 S Sycamore Ave and 1455 S Genesee Ave. While the average home in Los Angeles, CA is selling in 100 days, 2416 S Ridgeley Dr has a days on market of 109 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 2416 S Ridgeley Dr Los Angeles, CA 90016 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 2416 S Ridgeley Dr

Public county record property details
Beds
--
Baths
--
Year built
--
Sq. Ft.
5,949
Lot Size
9,646
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
32
APN
5063-020-011

The source for these homes facts are from public records.

90016 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,098,000
Median List Price/Sq.Ft.
$760
Median Sold Price
$1,125,000
Median Sold Price/Sq.Ft.
$704
Total Inventory
80
Median Sale to List Price %
102.27%
Avg Days on Market
26
Loan Type
Conventional (15.38%), FHA (0%), VA (0%), Cash (0%), Other (23.08%)

Thinking of Selling?

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(714) 706-1823

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Recently Sold Homes Near 2416 S Ridgeley Dr

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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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