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245 S Westlake Ave, Los Angeles, CA 90057
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245 S Westlake Ave Los Angeles, CA 90057

$3,600,000 Sold Price as of 02/26/2024
  • 24 Beds
  • 0 Baths
  • 11,169 Sq.Ft.
Sold
$3,600,000 Sold Price as of 02/26/2024 Refinance Your Mortgage
Map preview of 245 S Westlake Ave, Los Angeles, CA 90057

Property Overview: 245 S Westlake Ave Los Angeles, CA has 24 bedrooms, -- bathrooms, 11,169 living square feet and 6,222 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Great Opportunity, Owner wants this sold ASAP, an incredible value on a new 15 unit Apartment building. This project is 80% complete and is priced to sell. There are great views from the top floors and deck, you can see the Hollywood sign and downtown skyline. Every floor consists of 4 units except top floor which is three units, all two bedrooms and two baths, the mix is nine two bedroom and 6 one bedrooms. Hurry this will not last

Listed by David Babiracki | BRE #00904817 | Option West Realty
Last checked: 1 minute ago | Last updated: February 27th, 2024 | Source CRMLS | DOM: 11

Home details

Lot Sq. Ft
6,222
HOA Dues
$0/mo
Year built
2023
Garage
9 Car
Property Type:
Apartment
Status
Sold
MLS#
OC24023945
City
Los Angeles
County
Los Angeles
Time on Site
109 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 15
  • Total # of Buildings: 1
  • # of Electric Meters: 0
  • # of Gas Meters: 0
  • # of Water Meters: 0
Unit Breakdown 1
  • # of Units: 9
  • # of Beds: 2
  • # of Baths: 0
  • Garage Spaces: 9
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Total Rent: $0
Unit Breakdown 2
  • # of Units: 6
  • # of Beds: 1
  • # of Baths: 0
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Total Rent: $0
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $52,000
  • Net Operating Income: $42,000
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $10,000
  • Electric: $0
  • Gas/Fuel: $0
  • Trash: $0
  • Insurance: $0
  • Professional Management: $0
  • Water/Sewer: $0

Property Details for 245 S Westlake Ave

Interior Features
Heating Information
  • Has Heating
  • Central
Laundry Information
  • Has Laundry
  • Inside
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 9
  • # of Parking Spaces: 9
Lot Information
  • Lot Features: 11-15 Units/Acre
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 15
  • Parcel Number: 5154005007
  • Year Built Source: Estimated
  • Entry Level: 1
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Conventional Septic
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: south of Beverly BLVD
Neighborhood Information
  • Community Features: Curbs
View more facts & features

Local Los Angeles Agent

Sale History for 245 S Westlake Ave

Last sold for $3,600,000 on February 26th, 2024

  • February, 2024

  • Feb 26, 2024

    Date

    Sold

    CRMLS: OC24023945

    $3,600,000

    Price

  • Feb 1, 2024

    Date

    Active

    CRMLS: OC24023945

    $4,100,000

    Price

  • November, 2023

  • Nov 28, 2023

    Date

    Canceled

    CRMLS: OC23184929

    $4,900,000

    Price

  • Oct 3, 2023

    Date

    Active

    CRMLS: OC23184929

    $4,995,000

    Price

  • Listing provided courtesy of CRMLS

    This incredible opportunity to buy a new 15-unit apartment building. This project is 80% complete and just needs the right builder or investor to finish the project. This building is priced to sell quickly. The property has views of downtown as well as on a clear day you can see the Hollywood sign. There are currently nine 2 bedroom units with 2 bathrooms, and there are six 1 bedroom 1 bath units. This property is located in a great neighborhood and is close to downtown as well as easy freeway access. We are in the process of getting estimates to complete the project,

  • April, 2021

  • Apr 9, 2021

    Date

    Sold

    CRMLS: 21697278

    $1,250,000

    Price

  • Mar 3, 2021

    Date

    Pending

    CRMLS: 21697278

    $1,250,000

    Price

  • Feb 24, 2021

    Date

    Active

    CRMLS: 21697278

    $1,250,000

    Price

  • Listing provided courtesy of CRMLS

    Fully Entitled / RTI 13 Unit Apartment Development Project $1,250,000 / 6287 SF Lot / Zoned LAR 3 / 5 Story Development with 1st Floor Parking and Roof Top Amenities Unit Mix (2) 1 Bedroom and (11) 2 Bedrooms4 Different Floor-plans / Building RTI / Grading RTI / Demolition of SFR RTI / Property Wall RTI / Letter of Determination / View of DTLA from 3rd Floors / 10 Parking Spaces / MONTHLY INCOME PROFORMA$31,880 Per Monthly Income / 11 Market Units and 2 Low Income Units / Proforma NOI $268,000 Per Monthly Income

  • November, 2019

  • Nov 27, 2019

    Date

    Sold

    CRMLS: OC19007328

    $815,000

    Price

  • Oct 15, 2019

    Date

    Pending

    CRMLS: OC19007328

    $859,000

    Price

  • Sep 17, 2019

    Date

    Price Change

    CRMLS: OC19007328

    $859,000

    Price

  • Sep 17, 2019

    Date

    Active

    CRMLS: OC19007328

    $900,000

    Price

  • Jul 15, 2019

    Date

    Pending

    CRMLS: OC19007328

    $900,000

    Price

  • Jun 21, 2019

    Date

    Active

    CRMLS: OC19007328

    $900,000

    Price

  • Apr 27, 2019

    Date

    Pending

    CRMLS: OC19007328

    $900,000

    Price

  • Apr 16, 2019

    Date

    Active

    CRMLS: OC19007328

    $900,000

    Price

  • Apr 15, 2019

    Date

    Price Change

    CRMLS: OC19007328

    $900,000

    Price

  • Mar 27, 2019

    Date

    Pending

    CRMLS: OC19007328

    $890,000

    Price

  • Mar 14, 2019

    Date

    Active

    CRMLS: OC19007328

    $890,000

    Price

  • Jan 21, 2019

    Date

    Pending

    CRMLS: OC19007328

    $890,000

    Price

  • Jan 10, 2019

    Date

    Active

    CRMLS: OC19007328

    $890,000

    Price

  • Listing provided courtesy of CRMLS

    Wonderful opportunity to move to the the heart of the city. 1997 Construction located in Westlake North and is just blocks away from Westlake/MarArtur Park and Lake. Great single story 4 bedroom, 2 full bath home with a large lot. Zone LAR3 per Zima. Open concept design with dining and kitchen opening to the family room. Spacious family room with view to the back yard has a beautiful wood burning brick fireplace with hearth and over-sized brick mantel. Eat in dining room to the side of the kitchen, breakfast bar, tile counters, double sink, hard-wood cabinets and a pantry make this kitchen a perfect area to entertain. The formal living room with tall ceilings allow for a fan shaped window letting in more light. All flooring is tile, marble or hard surface. Covered patio right outside the family room and large cement patio in the back yard is great for big parties or even a basketball game! There is plenty of area for grass or a large garden. Shade trees in the front and back help keep the home cool in the Summer. CENTRAL AIR and heat! Two car garage with laundry hook ups. Garage has drywall is currently used as storage.

  • November, 2019

  • Nov 27, 2019

    Date

    Sold (Public Records)

    Public Records

    $815,000

    Price

  • March, 2018

  • Mar 1, 2018

    Date

    Expired

    CRMLS: 17264914

    $890,000

    Price

  • Oct 25, 2017

    Date

    Price Change

    CRMLS: 17264914

    $890,000

    Price

  • Aug 28, 2017

    Date

    Active

    CRMLS: 17264914

    $799,000

    Price

  • Listing provided courtesy of CRMLS

    Spacious 4 bedroom 2 bath home situated just minutes away from Downtown LA in Westlake with amazing northwest views! Quick access to Silver Lake (5 min), Echo Park (5 min), Koreatown (6-7 min), DTLA (5 min), Chinatown, Los Feliz and many other submarkets. Great starter home or multi-unit development opportunity (zoned R3*). Also consists of 2 Car Garage that has been converted into a large bedroom. Ideal location for nurses who are working at Good Samaritan Hospital. Easily rentable bedrooms! *Zimas Confirms LAR3

  • January, 1997

  • Jan 2, 1997

    Date

    Sold (Public Records)

    Public Records

    $188,000

    Price

Show More

Tax History for 245 S Westlake Ave

Assessed Value (2020): $815,000
Year Land Value Improved Value Assessed Value
2020 $600,000 $215,000 $815,000

Home Value Compared to the Market

This property vs the competition

245 S Westlake Ave sold on February 26, 2024 for 244.54% higher 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 $367.09 per/sqft which puts the price per square foot 51.38% lower than the current median sale per square foot for the city of Los Angeles.

About 245 S Westlake Ave

Detailed summary of property

245 S Westlake Ave is a apartment that recently sold in Los Angeles, CA 90057. This apartment offered 24 bedrooms, -- bathrooms, roughly 11,169 living square feet, and sits on an approximately 6,222 square foot lot. 245 S Westlake Ave was first listed on ArdentRealEstateGroup.com on February 2, 2024. The homeowner sold the property for $3,600,000. 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 244.54% higher than the current median priced home. Local homes that are currently for sale include 1144 Elden Ave, 1146 S Elden Ave and 1435 Alvarado. While the average home in Los Angeles, CA is selling in 92 days, 245 S Westlake Ave has a days on market of 11 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 245 S Westlake Ave Los Angeles, CA 90057 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 245 S Westlake Ave

Public county record property details
Beds
4
Baths
2
Year built
1997
Sq. Ft.
1,821
Lot Size
6,267
Stories
--
Type
Single Family Residential
Pool
No
Spa
No
County
Los Angeles
Lot#
6
APN
5154-005-007

The source for these homes facts are from public records.

90057 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$590,000
Median List Price/Sq.Ft.
$538
Median Sold Price
$365,000
Median Sold Price/Sq.Ft.
$773
Total Inventory
12
Median Sale to List Price %
104.58%
Avg Days on Market
15
Loan Type
Conventional (0%), FHA (0%), VA (0%), Cash (0%), Other (0%)

Thinking of Selling?

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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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