2823 Leeward Ave Los Angeles, CA 90005

$--

9 Beds
6 Baths
7,136 Sq.Ft.

Off Market

Map preview of 2823 Leeward Ave, Los Angeles, CA 90005

Property Overview: 2823 Leeward Ave Los Angeles, CA has 9 bedrooms, 6 bathrooms, 7,136 living square feet and 9,513 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Home Value Compared to the Market

2823 Leeward Ave 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 $1,200,000. The median price per/sqft for Los Angeles is $768. 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 $240,000 for the down payment and will need roughly $24,000 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 $56,000. 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 2823 Leeward Ave

Last sold on October 3rd, 2018

April, 2021
Apr 1, 2021

Date

Expired

CRMLS: 21683380

$2,550,000

Price
Jan 21, 2021

Date

Active

CRMLS: 21683380

$2,550,000

Price
Listing provided courtesy of CRMLS

IDEAL DEVELOPMENT area to address housing shortage, the Leeward Ave Project qualifies for high density Transit Oriented Community (TOC) TIER 3 for a 70% BONUS in a QUALIFIED OPPORTUNITY ZONE. Build up to 40 UNITS using TOC or a 23 UNIT apartment or condo. Condos at 2939 Leeward Ave are selling at $600~850K. The sale includes unapproved schematics for a 39-unit apartment with a total of 99 bedrooms. The subject lot size is 9,514 SF ZONED R4-2, and there is a potential for this deal to GROW IN SIZE. NO HEIGHT LIMIT. Excellent opportunity to purchase a property that enables a savvy developer to offset their costs with IN-PLACE CASH FLOW during pre-development. There are currently 6 tenants (2 may be non-conforming, Buyer to verify) in the 2 structures on the property. Located just south of Wilshire Blvd and west of Hoover Street in the prime Koreatown market of Los Angeles. Walkable to 2 major metro stations at Wilshire/Vermont and Westlake/MacArthur Park - 95 WALK SCORE and 81 TRANSIT SCORE. Soils and Survey Reports Available.

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December, 2020
Dec 21, 2020

Date

Canceled

CRMLS: 20653354

$1

Price
Dec 4, 2020

Date

Hold

CRMLS: 20653354

$1

Price
Dec 2, 2020

Date

Active

CRMLS: 20653354

$1

Price
Nov 2, 2020

Date

Hold

CRMLS: 20653354

$1

Price
Oct 30, 2020

Date

Active

CRMLS: 20653354

$1

Price
Listing provided courtesy of CRMLS

IDEAL DEVELOPMENT area to address housing shortage, the Leeward Ave Project qualifies for high density Transit Oriented Community (TOC) TIER 3 for a 70% BONUS in a QUALIFIED OPPORTUNITY ZONE. Build up to 40 UNITS using TOC or a 23-UNIT CONDO selling 600~850K at 2939 Leeward Ave. The sale includes unapproved schematics for a 39-unit apartment with a total of 99 bedrooms. The subject lot size is 9,514 SF ZONED R4-2, and there is a potential for this deal to GROW IN SIZE. NO HEIGHT LIMIT. Excellent opportunity to purchase a property that enables a savvy developer to offset their costs with IN-PLACE CASH FLOW during pre-development. There are currently 6 tenants in the 2 structures on the property, located just south of Wilshire Blvd and west of Hoover Street in the prime Koreatown market of Los Angeles. Walkable to 2 major metro stations at Wilshire/Vermont and Westlake/MacArthur Park - 95 WALK SCORE and 81 TRANSIT SCORE. CLEAN PHASE 1. Soils and Survey Report available.

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October, 2018
Oct 3, 2018

Date

Sold (Public Records)

Public Records

--

Price
May, 2018
May 17, 2018

Date

Sold

CRMLS: 17274110

$2,200,000

Price
Feb 2, 2018

Date

Pending

CRMLS: 17274110

$2,300,000

Price
Feb 1, 2018

Date

Price Change

CRMLS: 17274110

$2,300,000

Price
Oct 24, 2017

Date

Canceled

CRMLS: 17274110

$1,935,000

Price
Oct 19, 2017

Date

Price Change

CRMLS: 17274110

$1,935,000

Price
Sep 26, 2017

Date

Active

CRMLS: 17274110

$2,100,000

Price
Listing provided courtesy of CRMLS

PROPERTY IS IN ESCROW. LOOKING FOR BACKUP. UNIQUE DEVELOPMENT OPPORTUNITY! BUILD 41 UNITS: $47,200 PER UNIT, UN-ENTITLED! SUBJECT Property is confirmed located within the brand new TOC designated qualified TIER-3 zone for a 70% DENSITY BONUS AWARD, yielding 41 residential units (10% of units Extremely low income) allowing for several on menu incentives to make this investment a monumental success! HUGE INCOME PRODUCING "UNENTITLED" lot Zoned R4-2. NO HEIGHT LIMIT! Excellent prime Koreatown adjacent location, walking distance to McArthur Park, 0.5mi to TWO METRO stations, and over 50,000 SQFT OF brand new COMMERCIAL RETAIL AMENITIES. Alternatively, a 23 unit, high end condo project can be built on this site. Immediate pocket area is undergoing massive gentrification with a minimum of 750 brand new apartment and condo units under construction. Currently 6 Tenants are living on property in a 4 unit building.

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May, 2018
May 17, 2018

Date

Sold

CRMLS: 17268014

$2,200,000

Price
Feb 2, 2018

Date

Pending

CRMLS: 17268014

$2,300,000

Price
Feb 1, 2018

Date

Price Change

CRMLS: 17268014

$2,300,000

Price
Nov 23, 2017

Date

Expired

CRMLS: 17268014

$1,935,000

Price
Nov 16, 2017

Date

Active

CRMLS: 17268014

$1,935,000

Price
Oct 24, 2017

Date

Active Under Contract

CRMLS: 17268014

$1,935,000

Price
Oct 19, 2017

Date

Price Change

CRMLS: 17268014

$1,935,000

Price
Sep 7, 2017

Date

Active

CRMLS: 17268014

$2,100,000

Price
Listing provided courtesy of CRMLS

PROPERTY IS IN ESCROW. LOOKING FOR BACK UPS. BUILD 41 UNITS: $47,200 PER UNIT, UN-ENTITLED! UNIQUE DEVELOPMENT OPPORTUNITY! SUBJECT Property is confirmed located within the brand new TOC designated qualified TIER-3 zone for a 70% DENSITY BONUS AWARD, yielding 41 residential units (10% of units Extremely low income) allowing for several on menu incentives to make this investment a monumental success! HUGE INCOME PRODUCING "UNENTITLED" lot Zoned R4-2. NO HEIGHT LIMIT! Excellent prime Koreatown adjacent location, walking distance to McArthur Park, transportation and over 50,000 SQFT OF brand new COMMERCIAL RETAIL AMENITIES. Alternatively, a 23 unit, high end condo project can be built on this site. Immediate pocket area is undergoing massive gentrification with a minimum of 750 brand new apartment and condo units under construction. OM ATTACHED.

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May, 2018
May 16, 2018

Date

Sold (Public Records)

Public Records

$2,200,000

Price
July, 2017
Jul 12, 2017

Date

Sold

CRMLS: 16168966

$1,600,000

Price
Apr 11, 2017

Date

Pending

CRMLS: 16168966

$1,600,000

Price
Mar 23, 2017

Date

Active

CRMLS: 16168966

$1,600,000

Price
Mar 23, 2017

Date

Expired

CRMLS: 16168966

$1,600,000

Price
Mar 16, 2017

Date

Price Change

CRMLS: 16168966

$1,600,000

Price
Jan 11, 2017

Date

Price Change

CRMLS: 16168966

$1,595,000

Price
Dec 22, 2016

Date

Price Change

CRMLS: 16168966

$1,640,000

Price
Oct 6, 2016

Date

Active

CRMLS: 16168966

$1,650,000

Price
Listing provided courtesy of CRMLS

We are pleased to present this un-entitled development opportunity in Koreatown. The current zoning, LAR4-2, allows for a high density development. The dimensions of the lot are perfect for a developer, featuring 61.5 feet of frontage and 154.6 depth totaling 9,514 square-feet. A builder can build up to 23 units by right, without using a density bonus.The area is truly booming with many new developments in the surrounding vicinity. The property boasts a walk score of 94. There is a bevy of restaurants, coffee shops and grocery stores within walking distance and the property is a five-minute walk to the well-known Southwestern Law School.

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Tax History for 2823 Leeward Ave

Assessed Value (2020): $2,244,000

Year	Land Value	Improved Value	Assessed Value
2020	$2,142,000	$102,000	$2,244,000

About 2823 Leeward Ave

Detailed summary of property

2823 Leeward Ave is categorized with a use code of Quadruplex (4 Units, Any Combination) in Los Angeles, CA 90005 and is currently off market. This property has 9 bedrooms, 6 bathrooms, roughly 7,136 living square feet, and sits on an approximately 9,513 square foot lot. Homes in Los Angeles are selling for a median price of $1,120,000 and a median price per square foot of $724. Local nearby listings include 421 S La Fayette Park Pl #720, 421 S La Fayette Park Pl #401 and 2121 James M Wood Blvd #404. The average home in Los Angeles, CA is selling in 106 days. There are currently 4052 homes for sale in the Los Angeles real estate market and 2782 of them are single family homes while 1148 of them are condos and 116 are townhomes. If you are the homeowner and looking to sell the home at 2823 Leeward Ave Los Angeles, CA 90005 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 2823 Leeward Ave

Public county record property details

Beds: 9
Baths: 6
Year built: 1922
Sq. Ft.: 7,136
Lot Size: 9,513
Stories: --

Type: Quadruplex (4 Units, Any Combination)
Pool: No
Spa: No
County: Los Angeles
Lot#: 69,70
APN: 5077-015-014

The source for these homes facts are from public records.

90005 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$850,000

Median List Price/Sq.Ft.

$655

Median Sold Price

$695,000

Median Sold Price/Sq.Ft.

$564

Total Inventory

Median Sale to List Price %

92.79%

Avg Days on Market

Loan Type

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

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(714) 706-1823

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