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2885 Francis Ave, Los Angeles, CA 90005
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2885 Francis Ave Los Angeles, CA 90005

$1,995,000
  • 12 Beds
  • 8 Baths
  • 5,846 Sq.Ft.
For Sale
$1,995,000 Get Pre-Qualified
Map preview of 2885 Francis Ave, Los Angeles, CA 90005

Property Overview: 2885 Francis Ave Los Angeles, CA has 12 bedrooms, 8 bathrooms, 5,846 living square feet and 8,057 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: We are pleased to offer for sale a 4-Unit apartment building located in the highly sought-after neighborhood of Koreatown LA. The subject property is located on the corner of South Westmorland Ave and Francis Ave, just minutes to the new Zion Korean market and MacArthur Park. Situated on a HUGE lot of 8,060 sq. ft. and 5,846 sq. ft. of interior space is zoned for R4-2 TOC Tier 3 with ability to build 21-unit condo (FULLY-ENTITLED!). The new owner has the ability and option to add two ADU's for a two-bedroom and one-bedroom unit.

Listed by John C. Pak | BRE #01898649 | Philco Realty
Last checked: 12 minutes ago | Last updated: April 29th, 2024 | Source CRMLS | DOM: 178
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Home details

Lot Sq. Ft
8,057
HOA Dues
$0/mo
Year built
1917
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
23321211
City
Los Angeles
County
Los Angeles
Time on Site
196 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $1,909
  • Total Rent: $1,900
  • Pro Forma/Market Rent: $4,000
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $1,928
  • Total Rent: $1,928
  • Pro Forma/Market Rent: $4,000
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $2,900
  • Total Rent: $2,900
  • Pro Forma/Market Rent: $4,000
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $1,900
  • Total Rent: $1,900
  • Pro Forma/Market Rent: $4,000
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 0
  • Gross Scheduled Income: --
  • Net Operating Income: $0
  • Gross Operating Income: $0
Annual Expense Breakdown
  • Total Operating Expense: --

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Property Details for 2885 Francis Ave

Interior Features
Kitchen Information
  • Has Appliances
Interior Features
  • Levels: Two
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 10
  • No
  • Parking Features: None
Lot Information
  • Lot Size Source: Assessor
Property Information
  • Total # of Units: 4
  • Parcel Number: 5077022015
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: Corner of South Westmoreland Aveue & Francis Avenue
View more facts & features

Local Los Angeles Agent

Sale History for 2885 Francis Ave

Last sold for $1,450,000 on December 24th, 2019

  • November, 2023

  • Nov 6, 2023

    Date

    Active

    CRMLS: 23321211

    $2,200,000

    Price

  • December, 2019

  • Dec 24, 2019

    Date

    Sold (Public Records)

    Public Records

    $1,450,000

    Price

  • July, 2017

  • Jul 12, 2017

    Date

    Sold (Public Records)

    Public Records

    --

    Price

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Tax History for 2885 Francis Ave

Assessed Value (2020): $1,450,000
Year Land Value Improved Value Assessed Value
2020 $1,250,000 $200,000 $1,450,000

Home Value Compared to the Market

This property vs the competition

2885 Francis Ave is listed 59.6% higher than the median list price for the city of Los Angeles which has a median list price of $1,250,000. The median price per/sqft for Los Angeles is $777 and this home is listed at $341.26 per/sqft which puts the price per square foot 56.08% lower than the median price per square foot for the city of Los Angeles.

About 2885 Francis Ave

Detailed summary of property

2885 Francis Ave is a multi family located in Los Angeles, CA 90005 and is currently for sale. This multi family property offers 12 bedrooms, 8 bathrooms, roughly 5,846 living square feet, and sits on an approximately 8,057 square foot lot. 2885 Francis Ave was first listed on ArdentRealEstateGroup.com on November 6, 2023. The homeowner is currently asking $1,995,000 and was originally asking $2,200,000. The median priced home in Los Angeles is $1,250,000 with a median price per square foot of $777. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 59.6% higher than the median priced home. Local competing homes currently for sale include 1038 Dewey Ave, 848 S Normandie Ave and 1037 S Bonnie Brae St. While the average home in Los Angeles, CA is selling in 92 days, 2885 Francis Ave has a days on market of 178 days. 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 2885 Francis 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 2885 Francis Ave

Public county record property details
Beds
6
Baths
4
Year built
1917
Sq. Ft.
5,846
Lot Size
8,057
Stories
--
Type
Quadruplex (4 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
16
APN
5077-022-015

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
$799,000
Median List Price/Sq.Ft.
$629
Median Sold Price
$720,000
Median Sold Price/Sq.Ft.
$621
Total Inventory
35
Median Sale to List Price %
100.14%
Avg Days on Market
62
Loan Type
Conventional (0%), FHA (0%), VA (0%), Cash (16.67%), 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.

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