2861 Leeward Ave Los Angeles, CA 90005

$180,000 Sold Price as of 11/20/1995

11 Beds
11 Baths
5,558 Sq.Ft.

Off Market

$180,000 Sold Price as of 11/20/1995 Refinance Your Mortgage

Map preview of 2861 Leeward Ave, Los Angeles, CA 90005

Property Overview: 2861 Leeward Ave Los Angeles, CA has 11 bedrooms, 11 bathrooms, 5,558 living square feet and 10,828 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Home Value Compared to the Market

2861 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 2861 Leeward Ave

Last sold for $180,000 on November 20th, 1995

May, 2022
May 4, 2022

Date

Expired

CRMLS: 22115315

$2,495,000

Price
Jan 3, 2022

Date

Active

CRMLS: 22115315

$2,495,000

Price
Listing provided courtesy of CRMLS

DO NOT CONTACT SELLER! PROPERTY WILL BE RE-LISTED WHEN CITY COVENANT EXPIRES. We are pleased to present 2861 Leeward Ave - a ten (10) unit multifamily and future development opportunity located in prime Koreatown. The current wood frame stucco bungalow style units are situated on a large 10,828 SF corner lot zoned LAR4-2. The property is also located in a Tier 3 TOC zone which allows for a density bonus and for additional units to be built. Located in one of the densest areas in the United States, 2861 Leeward Ave presents an unbelievable opportunity for a potential investor to develop new apartment units now or in the future. The large 10,828 SF lot would allow a developer to build up to 27 units by right and up to 48 units with the TOC (transit oriented communities) bonus with no height restrictions (Buyer to verify). Furthermore, the corner location of the lot on Leeward and Magnolia allows for easier ingress and egress for a potential new structure. The property currently features: Six (6) One Bedroom / One Bath units, and Four (4) Two Bedroom / One Bath units. The units are all individually metered for gas and electric. Further, the property provides four (4) gated parking spaces, secured entry for the tenants, and an on-site laundry room that provides additional income. Most importantly, the large square footage of the lot and the corner location provide for an incredible development opportunity in an area that is seeing unbelievable expansion. Koreatown has been experiencing tremendous growth over the years and boasts one of the most highly diverse neighborhoods in California. There are several new construction projects being developed in the immediate area and this would be a fantastic location for a developer to realize their dream project. Don't miss this unique opportunity to own and develop real estate in one of the hottest rental markets in Los Angeles.

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May, 2022
May 4, 2022

Date

Expired

CRMLS: 22115217

$2,495,000

Price
Jan 3, 2022

Date

Active

CRMLS: 22115217

$2,495,000

Price
Listing provided courtesy of CRMLS

DO NOT CONTACT SELLER! PROPERTY WILL BE RE-LISTED WHEN CITY COVENANT EXPIRES. We are pleased to present 2861 Leeward Ave - a ten (10) unit multifamily and future development opportunity located in prime Koreatown. The current wood frame stucco bungalow style units are situated on a large 10,828 SF corner lot zoned LAR4-2. The property is also located in a Tier 3 TOC zone which allows for a density bonus and for additional units to be built. Located in one of the densest areas in the United States, 2861 Leeward Ave presents an unbelievable opportunity for a potential investor to develop new apartment units now or in the future. The large 10,828 SF lot would allow a developer to build up to 27 units by right and up to 48 units with the TOC (transit oriented communities) bonus with no height restrictions (Buyer to verify). Furthermore, the corner location of the lot on Leeward and Magnolia allows for easier ingress and egress for a potential new structure. The property currently features: Six (6) One Bedroom / One Bath units, and Four (4) Two Bedroom / One Bath units. The units are all individually metered for gas and electric. Further, the property provides four (4) gated parking spaces, secured entry for the tenants, and an on-site laundry room that provides additional income. Most importantly, the large square footage of the lot and the corner location provide for an incredible development opportunity in an area that is seeing unbelievable expansion. Koreatown has been experiencing tremendous growth over the years and boasts one of the most highly diverse neighborhoods in California. There are several new construction projects being developed in the immediate area and this would be a fantastic location for a developer to realize their dream project. Don't miss this unique opportunity to own and develop real estate in one of the hottest rental markets in Los Angeles.

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May, 2021
May 16, 2021

Date

Expired

CRMLS: WS20096019

$2,695,000

Price
May 20, 2020

Date

Active

CRMLS: WS20096019

$2,695,000

Price
Listing provided courtesy of CRMLS

This 10 unit apartment complex is in the heart of many large developments in the Koreatown area including the 31 story, 644 apartment project on Wilshire and Hoover. Down the street from brand new condos for sell as well as directly adjacent to the new Gateway project on 8th set to break ground in August of this year. A savvy investor could build up to 48 units with TOC tier 3. This quarter of an acre lot on the corner of Leeward and Magnolia allows for easier access for parking layouts and is zoned R4-2 with no height restrictions. The lot is also 70 feet wide compared to the average 60 foot on the block. An investor could purchase and hold knowing well-zoned land is becoming harder to come by.

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April, 2020
Apr 6, 2020

Date

Canceled

CRMLS: SB20011553

$2,999,000

Price
Mar 25, 2020

Date

Hold

CRMLS: SB20011553

$2,999,000

Price
Jan 17, 2020

Date

Active

CRMLS: SB20011553

$2,999,000

Price
Listing provided courtesy of CRMLS

Welcome to this opportunity to invest in a value-add or development property Korea Town with major upside potential. This bungalow style 10 unit property is well maintained and sits on a 10,828 square foot lot with a total rentable square footage of 5,558 square feet. Highlights include: R4 zoning, TOC Tier 3, located in an opportunity zone and has tremendous upside potential. Close to shops, dining, and entertainment. With market rents, this property will be performing at a 7.4% cap rate.

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November, 1995
Nov 20, 1995

Date

Sold (Public Records)

Public Records

$180,000

Price
May, 1995
May 12, 1995

Date

Sold (Public Records)

Public Records

$99,505

Price

Tax History for 2861 Leeward Ave

Assessed Value (2020): $269,908

Year	Land Value	Improved Value	Assessed Value
2020	$205,055	$64,853	$269,908

About 2861 Leeward Ave

Detailed summary of property

2861 Leeward Ave is categorized with a use code of Apartment House (5+ Units) in Los Angeles, CA 90005 and last sold on November 20, 1995 for $180,000. This property has 11 bedrooms, 11 bathrooms, roughly 5,558 living square feet, and sits on an approximately 10,828 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. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 83.93% lower than the current median priced home. 2861 Leeward Ave was last sold on November 20, 1995 for $180,000. Local nearby listings include 421 S La Fayette Park Pl #720, 421 S La Fayette Park Pl #709 and 904 S New Hampshire Ave #601. 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 2861 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 2861 Leeward Ave

Public county record property details

Beds: 11
Baths: 11
Year built: 1921
Sq. Ft.: 5,558
Lot Size: 10,828
Stories: --

Type: Apartment House (5+ Units)
Pool: No
Spa: No
County: Los Angeles
Lot#: 64,65
APN: 5077-015-009

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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