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275 Lucas Ave Los Angeles, CA 90026

$2,908,000 Sold Price as of 02/28/2024

8 Beds
22 Baths
10,758 Sq.Ft.

Sold

$2,908,000 Sold Price as of 02/28/2024 Refinance Your Mortgage

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Map preview of 275 Lucas Ave, Los Angeles, CA 90026

Property Overview: 275 Lucas Ave Los Angeles, CA has 8 bedrooms, 22 bathrooms, 10,758 living square feet and 12,155 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Available for sale for the first time in nearly 42 years, the property has had most of it's systems upgraded, including a brand new roof (just weeks ago), a full copper re-plumbing, individual utility meters for all units (gas and electric), and completed seismic retrofit work! The unit mix consists of fourteen Studio units and eight 1 bedroom units, with projected upside of 67% +/- for a new owner! The building sits on a 12,000 square foot lot which includes 24 parking spaces (some covered) and community laundry for tenants (leased through WASH). The property has a great walk score of 89, meaning that the immediate area is flush with tenant amenities and high quality attractions - allowing tenants to easily take care of errands. 275 Lucas is also terrifically positioned just outside of Downtown, with convenient access to most major freeways.

Listed by Josh Cohen | BRE #01346713 | Keller Williams Beach Cities

Last checked: 5 minutes ago | Last updated: February 28th, 2024 | Source CRMLS | DOM: 45

Home details

Lot Sq. Ft: 12,155
HOA Dues: $0/mo
Year built: 1964
Garage: --
Property Type:: Apartment

Status: Sold
MLS#: SB23169809
City: Los Angeles
County: Los Angeles
Time on Site: 231 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 22
Total # of Buildings: 1
# of Electric Meters: 23
# of Gas Meters: 23
# of Water Meters: 1

Unit Breakdown 1

# of Units: 8
# of Beds: 1
# of Baths: 1
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $10,281
Total Rent: $10,281
Pro Forma/Market Rent: $16,272

Unit Breakdown 2

# of Units: 14
# of Beds: 0
# of Baths: 1
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $14,803
Total Rent: $14,803
Pro Forma/Market Rent: $25,760

Multi-Family Income/Expense Information

Property Income and Analysis

Cap Rate: 5.21%
Gross Rent Multiplier: 10.63
Gross Scheduled Income: $301,026
Net Operating Income: $166,566
Gross Operating Income: --
Other Income Description: Contact for more inc/exp info

Annual Expense Breakdown

Total Operating Expense: $130,371
Electric: $0
Gas/Fuel: $0
Trash: $0
Insurance: $0
Professional Management: $0
Water/Sewer: $0
Other Expenses: $130,371
Other Expense Description: Contact

Property Details for 275 Lucas Ave

Interior Features

Laundry Information

Has Laundry
Common Area

Exterior Features

No Pool
Pool Features: None

Lot Details / Garage and Parking

Parking/Garage Information

# of Parking Spaces: 24

Lot Information

Lot Features: Near Public Transit
Lot Size Source: Public Records
Common Interest: Community Apartment

Property Information

Common Walls: 2+ Common Walls
Total # of Units: 22
Parcel Number: 5153028018
Year Built Source: Public Records
Entry Level: 1
Property is Attached

Homeowners Association, Utilities, Taxes / Assessments

Utilities Information

Sewer: Public Sewer
Water Source: Public

Location / Neighborhood

Location Information

Directions: Near Lucas and W. 3rd

Neighborhood Information

Community Features: Urban

View more facts & features

Local Los Angeles Agent

Sale History for 275 Lucas Ave

Last sold for $2,908,000 on February 28th, 2024

February, 2024
Feb 28, 2024

Date

Sold

CRMLS: SB23169809

$2,908,000

Price
Sep 11, 2023

Date

Active

CRMLS: SB23169809

$3,600,000

Price
October, 2008
Oct 27, 2008

Date

Sold (Public Records)

Public Records

--

Price
July, 1981
Jul 21, 1981

Date

Sold (Public Records)

Public Records

--

Price

Tax History for 275 Lucas Ave

Assessed Value (2020): $691,743

Year	Land Value	Improved Value	Assessed Value
2020	$117,080	$574,663	$691,743

Home Value Compared to the Market

This property vs the competition

275 Lucas Ave sold on February 28, 2024 for 204.76% higher than the current median sold price for the city of Los Angeles which is $1,050,000. The median sold price per/sqft for Los Angeles is $738 and this home is sold at $297.45 per/sqft which puts the price per square foot 59.69% lower than the current median sale per square foot for the city of Los Angeles.

About 275 Lucas Ave

Detailed summary of property

275 Lucas Ave is a apartment that recently sold in Los Angeles, CA 90026. This apartment offered 8 bedrooms, 22 bathrooms, roughly 10,758 living square feet, and sits on an approximately 12,155 square foot lot. 275 Lucas Ave was first listed on ArdentRealEstateGroup.com on September 11, 2023. The homeowner sold the property for $2,908,000. Home in Los Angeles are selling for a median price of $1,050,000 and a median price per square foot of $738. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 204.76% higher than the current median priced home. Local homes that are currently for sale include 1144 Elden Ave, 1146 S Elden Ave and 639 Robinson St. While the average home in Los Angeles, CA is selling in 96 days, 275 Lucas Ave has a days on market of 45 days. There are currently 3487 homes for sale in the Los Angeles real estate market and 2373 of them are single family homes while 1015 of them are condos and 93 are townhomes. For more information on this home for sale at 275 Lucas Ave Los Angeles, CA 90026 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 275 Lucas Ave

Public county record property details

Beds: 8
Baths: --
Year built: 1964
Sq. Ft.: 10,758
Lot Size: 12,155
Stories: --

Type: Apartment House (5+ Units)
Pool: No
Spa: No
County: Los Angeles
Lot#: 34
APN: 5153-028-018

The source for these homes facts are from public records.

90026 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$1,300,000

Median List Price/Sq.Ft.

$808

Median Sold Price

$940,000

Median Sold Price/Sq.Ft.

$850

Total Inventory

Median Sale to List Price %

100.11%

Avg Days on Market

Loan Type

Conventional (9.09%), FHA (0%), VA (0%), Cash (0%), Other (9.09%)

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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.