249 S Avenue 55 Los Angeles, CA 90042

$10,600,000 Sold Price as of 10/22/2019

-- Beds
-- Baths
24,722 Sq.Ft.

Off Market

$10,600,000 Sold Price as of 10/22/2019 Refinance Your Mortgage

Property Overview: 249 S Avenue 55 Los Angeles, CA has -- bedrooms, -- bathrooms, 24,722 living square feet and 38,862 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Home Value Compared to the Market

249 S Avenue 55 is currently an off market home in the city of Los Angeles. If you are considering making a home purchase, the value you pay for your home will depend on the market you're looking to purchase in. The city of Los Angeles has a median list price of $1,235,000. The median price per/sqft for Los Angeles is $774. With those numbers in mind, if you are looking to purchase a median priced home in Los Angeles, CA and put 20% down you will need to save up $247,000 for the down payment and will need roughly $24,700 for closing costs on top of the down payment. Homeowners who are looking to sell their home could expect to pay an average of 5% (2.5% to the listing agent and 2.5% to the buyers agent) in agent commissions when it comes to selling their home. With the median sale price for a home in Los Angeles the commission could be as much as $59,500. If you're thinking of selling and want to save, contact a local Ardent Real Estate Agent today.

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Sale History for 249 S Avenue 55

Last sold for $10,600,000 on October 22nd, 2019

August, 2021
Aug 2, 2021

Date

Canceled

CRMLS: 21749450

$11,980,000

Price
Jun 15, 2021

Date

Active

CRMLS: 21749450

$11,980,000

Price
Listing provided courtesy of CRMLS

249 S Avenue 55, a 40-unit investment opportunity located in the Highland Park neighborhood of Los Angeles just south of N Figueroa Street above the 110 Freeway. Built in 1961 and renovated in 2021, this turn-key building presents an investor the opportunity to achieve market rents immediately with 11 of the 40 units to be delivered vacant at the close of escrow. The unit mix consists of 1 single, 33 one bedrooms, and 6 two-bedroom apartment units. The vacant units have been completely renovated including gourmet kitchens with granite countertops, crisp white cabinets, white tile backsplash, and stainless-steel appliances (oven, refrigerator, and dishwasher). In addition, the renovated units have brand new unit numbers, flooring, windows, individual A/C units, recessed lighting, and designer bathrooms. 249 S Avenue 55 is a courtyard style building complete with a fully furnished pool patio. The entryway and parking are gated and there are a total of 40 parking spaces. Furthermore, the building is separately metered for gas and electric and has a RUBS program in-place. 18 of the units have a washer and dryer in-unit. In addition, there are security cameras throughout the building and community laundry with four washers and four dryers for the units without laundry. The Highland Park neighborhood is considered one of the most sought-after...

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October, 2019
Oct 22, 2019

Date

Sold (Public Records)

Public Records

$10,600,000

Price
October, 2019
Oct 22, 2019

Date

Sold (Public Records)

Public Records

--

Price
March, 2019
Mar 16, 2019

Date

Expired

CRMLS: 18358074

$10,500,000

Price
Jan 18, 2019

Date

Active

CRMLS: 18358074

$10,500,000

Price
Jan 16, 2019

Date

Expired

CRMLS: 18358074

$10,500,000

Price
Dec 22, 2018

Date

Withdrawn

CRMLS: 18358074

$10,500,000

Price
Jul 25, 2018

Date

Active

CRMLS: 18358074

$10,500,000

Price
Listing provided courtesy of CRMLS

249 S Ave 55 is a 2-story, 40-unit, Mid-Century apartment building located in the heart of Highland Park-one of Los Angeles' hottest sub-markets. Teeming with authentic Mid-Century charm, this extremely well-maintained asset features 40 secure parking spaces, an over-sized center courtyard lined with beautiful, drought tolerant landscaping, a large pool with ample lounge areas and colorful accent murals/designer paint themes. The building features on-site laundry and is separately metered for gas and electric. 28% of the units (11 in total) have been renovated to include beadboard ceilings, new kitchens, with modern cabinets, stainless steel appliances, quartz counter-tops, and remodeled bathrooms.

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Tax History for 249 S Avenue 55

Assessed Value (2020): $10,630,460

Year	Land Value	Improved Value	Assessed Value
2020	$7,400,000	$3,230,460	$10,630,460

About 249 S Avenue 55

Detailed summary of property

249 S Avenue 55 is categorized with a use code of Apartment House (5+ Units) in Los Angeles, CA 90042 and last sold on October 22, 2019 for $10,600,000. This property has -- bedrooms, -- bathrooms, roughly 24,722 living square feet, and sits on an approximately 38,862 square foot lot. Homes 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 790.76% higher than the current median priced home. 249 S Avenue 55 was last sold on October 22, 2019 for $10,600,000. Local nearby listings include 3520 Beethoven St, 2345 Roscomare Rd #308 and 6516 Barton Ave. The average home in Los Angeles, CA is selling in 94 days. There are currently 3580 homes for sale in the Los Angeles real estate market and 2422 of them are single family homes while 1059 of them are condos and 93 are townhomes. If you are the homeowner and looking to sell the home at 249 S Avenue 55 Los Angeles, CA 90042 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 249 S Avenue 55

Public county record property details

Beds: --
Baths: --
Year built: 1961
Sq. Ft.: 24,722
Lot Size: 38,862
Stories: --

Type: Apartment House (5+ Units)
Pool: Yes
Spa: No
County: Los Angeles
Lot#: 3
APN: 5468-028-027

The source for these homes facts are from public records.

90042 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$999,000

Median List Price/Sq.Ft.

$740

Median Sold Price

$1,000,000

Median Sold Price/Sq.Ft.

$858

Total Inventory

Median Sale to List Price %

125.16%

Avg Days on Market

Loan Type

Conventional (31.25%), FHA (6.25%), VA (0%), Cash (12.5%), Other (12.5%)

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(714) 706-1823

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