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2824 Menlo Ave Los Angeles, CA 90007

$2,500,000 Sold Price as of 04/01/2021

11 Beds
5 Baths
3,640 Sq.Ft.

Sold

$2,500,000 Sold Price as of 04/01/2021 Refinance Your Mortgage

Map preview of 2824 Menlo Ave, Los Angeles, CA 90007

Property Overview: 2824 Menlo Ave Los Angeles, CA has 11 bedrooms, 5 bathrooms, 3,640 living square feet and 5,660 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: We are pleased to offer for sale this three (3) unit, eleven (11) bedroom, student housing investment opportunity, located walking distance to the internationally renowned University of Southern California (USC). The subject property is constructed of wood frame and stucco in 1907, with approximately 3,640 rentable square feet on a 5,660 square foot lot. The investment is comprised of two (2) structures, with a unit mix consisting of one (1) 5-bedroom + 2-bathroom unit, one (1) 4-bedroom + 2-bathroom unit, & one (1) 2-bedroom + 1-bathroom unit. The Property is 100% occupied with USC students, and 2 of the 3 units are pre-leased for the 2021-2022 academic school year. There's a combination of vintage architectural detail and best-in-class modern interior standards. The property includes spacious, fully updated & remodeled units, updated copper plumbing, and an outdoor common area with a 6-8 person hot tub.

Listed by Davis Saadian | BRE #01921748 | BRC Advisors- BH

Last checked: 14 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 55

Home details

Lot Sq. Ft: 5,660
HOA Dues: $0/mo
Year built: 1934
Garage: --
Property Type:: Multi Family

Status: Sold
MLS#: 20671300
City: Los Angeles
County: Los Angeles
Time on Site: 1338 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 3
Total # of Buildings: 2

Unit Breakdown 1

# of Units: 1
# of Beds: 5
# of Baths: 2
Furnishing: Unfurnished
Actual Rent: $7,592
Total Rent: $7,592
Pro Forma/Market Rent: $7,800

Unit Breakdown 2

# of Units: 1
# of Beds: 2
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $2,912
Total Rent: $2,912
Pro Forma/Market Rent: $3,000

Unit Breakdown 3

# of Units: 1
# of Beds: 4
# of Baths: 2
Furnishing: Unfurnished
Actual Rent: $6,110
Total Rent: $6,110
Pro Forma/Market Rent: $6,500

Multi-Family Income/Expense Information

Property Income and Analysis

Gross Rent Multiplier: 13.67
Gross Scheduled Income: --
Net Operating Income: $138,746
Gross Operating Income: $195,381

Annual Expense Breakdown

Total Operating Expense: --

Property Details for 2824 Menlo Ave

Interior Features

Cooling Information

Has Cooling
Wall/Window Unit(s)

Heating Information

No Heating
None

Kitchen Information

Has Appliances
Dishwasher, Disposal, Refrigerator

Lot Details / Garage and Parking

Parking/Garage Information

Has Parking
Parking Features: Driveway, Driveway - Combination

Property Information

Total # of Units: 3
Parcel Number: 5055008014

Location / Neighborhood

Location Information

Directions: 2824 Menlo Avenue, LA 90007

View more facts & features

Local Los Angeles Agent

Sale History for 2824 Menlo Ave

Last sold for $2,500,000 on April 1st, 2021

April, 2021
Apr 1, 2021

Date

Sold

CRMLS: 20671300

$2,500,000

Price
Feb 9, 2021

Date

Active Under Contract

CRMLS: 20671300

$2,725,000

Price
Dec 16, 2020

Date

Active

CRMLS: 20671300

$2,725,000

Price
May, 2020
May 24, 2020

Date

Expired

CRMLS: 20546830

$2,725,000

Price
May 12, 2020

Date

Withdrawn

CRMLS: 20546830

$2,725,000

Price
Jan 23, 2020

Date

Active

CRMLS: 20546830

$2,725,000

Price
Listing provided courtesy of CRMLS

We are pleased to offer for sale this three (3) unit, 10-bedroom + 5-bathroom Student Housing investment opportunity located at 2824 Menlo Avenue, just a short distance from the internationally renowned University of Southern California (USC). The subject property is 100% occupied with USC students, and fully leased for the 2020-2021 academic school year (4% increase). This tri-plex has been fully updated and remodeled, which consists of a beautiful two-unit historical Victorian with a private house situated at the rear of the parcel. All three units share a newly landscaped backyard, hot tub, and common area. The two units within the Victorian offer historical charm with modern amenities, while the rear house provides students withmodern amenities, secured garage parking, and alley access.

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May, 2014
May 9, 2014

Date

Sold (Public Records)

Public Records

--

Price
April, 2014
Apr 7, 2014

Date

Sold (Public Records)

Public Records

$1,576,500

Price

Tax History for 2824 Menlo Ave

Assessed Value (2020): $1,810,242

Year	Land Value	Improved Value	Assessed Value
2020	$1,087,266	$722,976	$1,810,242

Home Value Compared to the Market

This property vs the competition

2824 Menlo Ave sold on April 1, 2021 for 143.3% higher than the current median sold price for the city of Los Angeles which is $1,120,000. The median sold price per/sqft for Los Angeles is $724 and this home is sold at $748.63 per/sqft which puts the price per square foot 3.4% higher than the current median sale per square foot for the city of Los Angeles.

About 2824 Menlo Ave

Detailed summary of property

2824 Menlo Ave is a multi family that recently sold in Los Angeles, CA 90007. This multi family property offered 11 bedrooms, 5 bathrooms, roughly 3,640 living square feet, and sits on an approximately 5,660 square foot lot. 2824 Menlo Ave was first listed on ArdentRealEstateGroup.com on January 20, 2021. The homeowner sold the property for $2,500,000. Home in Los Angeles are selling for a median price of $1,120,000 and a median price per square foot of $724. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 143.3% higher than the current median priced home. Local homes that are currently for sale include 1143 Irolo St, 1145 S Kingsley Dr and 1139 S Kingsley Dr. While the average home in Los Angeles, CA is selling in 106 days, 2824 Menlo Ave has a days on market of 55 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. For more information on this home for sale at 2824 Menlo Ave Los Angeles, CA 90007 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 2824 Menlo Ave

Public county record property details

Beds: 6
Baths: 6
Year built: --
Sq. Ft.: 3,640
Lot Size: 5,660
Stories: --

Type: Triplex (3 Units, Any Combination)
Pool: No
Spa: No
County: Los Angeles
Lot#: 28
APN: 5055-008-014

The source for these homes facts are from public records.

90007 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$1,495,000

Median List Price/Sq.Ft.

$610

Median Sold Price

$1,025,000

Median Sold Price/Sq.Ft.

$777

Total Inventory

Median Sale to List Price %

100%

Avg Days on Market

Loan Type

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

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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.