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2821 Virginia Rd, Los Angeles, CA 90016
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2821 Virginia Rd Los Angeles, CA 90016

$2,650,000 Sold Price as of 09/26/2022
  • 13 Beds
  • 12.5 Baths
  • 5,304 Sq.Ft.
Sold
$2,650,000 Sold Price as of 09/26/2022 Refinance Your Mortgage
Map preview of 2821 Virginia Rd, Los Angeles, CA 90016

Property Overview: 2821 Virginia Rd Los Angeles, CA has 13 bedrooms, 12.5 bathrooms, 5,304 living square feet and 5,232 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 2821 Virginia Rd is a brand new construction OPPORTUNITY ZONE triplex in prime West Adams minutes from Downtown Culver City and the Culver City Arts District! This is a rare opportunity to secure MAJOR tax benefits while owning a stunning 2022 triplex (MASSIVE freestanding SFR + duplex) with floorplans and finishes that are out of this world! Additionally, for only $60,000 extra ($2,750,00), the seller is willing to convert the downstairs floor and garage of the front unit into a 1 bed, 1 bath ADU, making for the cheapest fourplex in town. 2821 Virginia Rd currently consists of one 3-story 5 bed, 4.5 bath SFR and a duplex with two 3-story 4 bed, 4 bath townhomes that each have access to a spacious rear patio. We project a cap rate of gross monthly rent of $15,400 and a cap rate of 5.25%. The property boasts a 2-car garage for the front house and 4 partially covered spaces for the back units. If you enact the ADU option, the property’s unit mix will become: two 3-story 4 bed, 4 baths, one 4 bed, 3.5 bath (situated on floor 2 and 3 of the front building), and one 1 bed, 1 bath (situated on floor 1 + the garage of the back building). With an ADU, the property would benefit from 327 extra square feet of livable space. Plus, we project a 5.51% cap rate if you go this route! This impressive property boasts NO RENT CONTROL, separate meters for all utilities, well-designed open floorplans, a 2-car garage + 4 partially covered spots, gorgeous glass balconies, a large rear patio, high quality finishes, walk-in closets with built in shelving, laundry hookups in each unit, high-end modern kitchens, and large, stunning bathrooms. It will be delivered with a 1-year builder’s warranty. It is situated in red-hot West Adams minutes from several of the most ground-breaking mixed-use developments: Platform, the Culver City Steps (Amazon Studios headquarters), Ivy Station (HBO headquarters), and the Cumulus development (Whole Foods).

Listed by Elizabeth Maddox | BRE #01921425 | The 2-4 Unit Specialists
Last checked: 7 minutes ago | Last updated: April 7th, 2023 | Source CRMLS | DOM: 0

Home details

Lot Sq. Ft
5,232
HOA Dues
$0/mo
Year built
2022
Garage
2 Car
Property Type:
Triplex
Status
Sold
MLS#
BB22179674
City
Los Angeles
County
Los Angeles
Time on Site
614 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 3
  • Total # of Buildings: 2
  • # of Electric Meters: 3
  • # of Gas Meters: 3
  • # of Water Meters: 3
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 5
  • # of Baths: 5
  • Garage Spaces: 2
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $5,800
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 4
  • # of Baths: 4
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $4,800
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 4
  • # of Baths: 4
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $4,800
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5.25%
  • Gross Rent Multiplier: 14.56
  • Gross Scheduled Income: $184,800
  • Net Operating Income: $141,274
  • Gross Operating Income: $177,408
Annual Expense Breakdown
  • Total Operating Expense: $36,143
  • New Taxes: $31,613
  • Trash: $0
  • Gardener: $1,200
  • Insurance: $2,122
  • Maintenance: $1,200

Virtual Tour

Use the following link to view this property's virtual tour:

Property Details for 2821 Virginia Rd

Interior Features
Cooling Information
  • Has Cooling
  • Central Air
Heating Information
  • Has Heating
  • Central
Laundry Information
  • Has Laundry
  • Gas Dryer Hookup, Washer Hookup
Fireplace Information
  • No Fireplace
  • None
Room Information
  • Flooring: Vinyl
Interior Features
  • Balcony, Living Room Balcony, Open Floorplan
  • Levels: One, Three Or More
Exterior Features
Exterior Information
  • Roof: Flat
  • Has Fence
  • New Condition
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 2
  • # of Parking Spaces: 6
Lot Information
  • Lot Features: Front Yard, Landscaped, Level with Street
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Has View
  • View: City Lights, Neighborhood
  • Common Walls: 1 Common Wall
  • Total # of Units: 3
  • Parcel Number: 5050013011
  • Year Built Source: Builder
  • Entry Level: 1
  • Property is Attached
  • Property Condition: Turnkey
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: Heading west on W Adams Blvd make a left on to Virginia Rd. 2821 Virginia will be on your right.
  • Road Frontage Type: City Street
  • Road Surface Type: Paved
Neighborhood Information
  • Community Features: Curbs, Sidewalks, Street Lights
View more facts & features

Local Los Angeles Agent

Sale History for 2821 Virginia Rd

Last leased for $5,300 on April 7th, 2023

  • April, 2023

  • Apr 7, 2023

    Date

    Leased

    CRMLS: BB22232052

    $5,300

    Price

  • Oct 28, 2022

    Date

    Active

    CRMLS: BB22232052

    $5,800

    Price

  • Listing provided courtesy of CRMLS

    *OFFERING THREE WEEKS FREE RENT FOR IMMEDIATE APPLICATIONS!* This discount would bring your net rent down to $4,987/month for the first 12 months! Lease would say $5,295/month. 2821 Virginia Rd, a brand new, exquisitely designed 1842 sqft 3-story, 5 bed, 4.5 bath single family home featuring a state of the art open floorplan, with gorgeous glass balconies, a large rear patio, high quality finishes, walk-in closets with built in shelving, laundry in each unit, high-end modern kitchens, large, stunning bathrooms and a 2-car garage all situated in red-hot West Adams; minutes from Downtown Culver City, the Culver City Arts District and the Culver City Steps. Also boasts, a short drive to major stores such as Target and Whole Foods and close proximity to entertainment studios such as Sony Pictures, Amazon Studios and other corporate and remote work offices such as Good American, Smashbox Studios, WeWork, Apple Music, Pair of Thieves, Dreamscape, and countless production, marketing, tech and creative agencies, as well as trendy spots such Pasta Sisters, Blue Bottle Coffee and The Culver Hotel. You do not want to miss being the first in this beautiful brand-new home Tenant pays all utilities.

  • September, 2022

  • Sep 26, 2022

    Date

    Sold

    CRMLS: BB22179674

    $2,650,000

    Price

  • Sep 13, 2022

    Date

    Active

    CRMLS: BB22179674

    $2,690,000

    Price

  • September, 2019

  • Sep 28, 2019

    Date

    Sold

    CRMLS: 19492154

    $700,000

    Price

  • Aug 24, 2019

    Date

    Active Under Contract

    CRMLS: 19492154

    $710,000

    Price

  • Aug 17, 2019

    Date

    Pending

    CRMLS: 19492154

    $710,000

    Price

  • Aug 13, 2019

    Date

    Active

    CRMLS: 19492154

    $710,000

    Price

  • Listing provided courtesy of CRMLS

    This property is located in a Prime West Adams Area of Los Angeles. The property is located near some great schools, parks churches and shopping centers. This great property really needs updating and/or rehabbing. The owner is very motivated. This is an investors dream. Please Hurry this great home will not last. See you in escrow!!!

  • September, 2019

  • Sep 27, 2019

    Date

    Sold (Public Records)

    Public Records

    $700,000

    Price

  • June, 1997

  • Jun 4, 1997

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 2821 Virginia Rd

Assessed Value (2020): $700,000
Year Land Value Improved Value Assessed Value
2020 $560,000 $140,000 $700,000

Home Value Compared to the Market

This property vs the competition

2821 Virginia Rd sold on September 26, 2022 for 126.05% 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 $507.16 per/sqft which puts the price per square foot 32.83% lower than the current median sale per square foot for the city of Los Angeles.

About 2821 Virginia Rd

Detailed summary of property

2821 Virginia Rd is a triplex that recently sold in Los Angeles, CA 90016. This triplex offered 13 bedrooms, 12.5 bathrooms, roughly 5,304 living square feet, and sits on an approximately 5,232 square foot lot. 2821 Virginia Rd was first listed on ArdentRealEstateGroup.com on September 13, 2022. The homeowner sold the property for $2,650,000. 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 126.05% higher than the current median priced home. Local homes that are currently for sale include 1245 S Hudson Ave, 1155 S Tremaine Ave and 1250 5th Ave. 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 2821 Virginia Rd 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 2821 Virginia Rd

Public county record property details
Beds
2
Baths
1
Year built
1924
Sq. Ft.
1,074
Lot Size
5,231
Stories
--
Type
Single Family Residential
Pool
No
Spa
No
County
Los Angeles
Lot#
312,315
APN
5050-013-011

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
$1,099,000
Median List Price/Sq.Ft.
$774
Median Sold Price
$885,000
Median Sold Price/Sq.Ft.
$699
Total Inventory
78
Median Sale to List Price %
98.44%
Avg Days on Market
30
Loan Type
Conventional (21.05%), FHA (0%), VA (0%), Cash (10.53%), Other (10.53%)

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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