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3015 S Palm Grove Ave, Los Angeles, CA 90016
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3015 S Palm Grove Ave Los Angeles, CA 90016

$975,000 Sold Price as of 04/20/2022
  • 3 Beds
  • 3 Baths
  • 2,060 Sq.Ft.
Sold
$975,000 Sold Price as of 04/20/2022 Refinance Your Mortgage
Map preview of 3015 S Palm Grove Ave, Los Angeles, CA 90016

Property Overview: 3015 S Palm Grove Ave Los Angeles, CA has 3 bedrooms, 3 bathrooms, 2,060 living square feet and 5,200 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Prime West Adams value-add duplex plus one non-conforming unit, delivered completely vacant. The property consists of a 2 Bd/1 Ba unit (plus laundry), a large 1 Bd/1 Ba unit (with a dining room and living room), and a non-conforming studio. The seller has completed a feasibility study to determine that a new buyer can add an ADU and a Jr. ADU (buyer to verify). The ADU feasibility study completed by the buyer has been included as a supplement to this listing, in addition to the numbers page. The subject property is located in a nice residential pocket of the rapidly growing West Adams neighborhood between Jefferson Blvd. and West Adams Blvd. At the list price, assuming market rents for only the existing two units and the non-conforming studio, this property should deliver a cap rate of approximately 4.76%. This is the perfect property for an owner user or a seasoned investor who can immediately add value by rehabbing the existing units, building out the two ADU’s, and renting the units out at market rents.

Listed by Martin Ensbury | BRE #00815392 | Keller Williams Beach Cities
Co-listed by Nicholas Ensbury | BRE #02012167 | Keller Williams Beach Cities
Last checked: 8 minutes ago | Last updated: April 21st, 2022 | Source CRMLS | DOM: 50

Home details

Lot Sq. Ft
5,200
HOA Dues
$0/mo
Year built
1933
Garage
3 Car
Property Type:
Multi Family
Status
Sold
MLS#
SB21182045
City
Los Angeles
County
Los Angeles
Time on Site
1006 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: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $1,400
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 2
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $2,500
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $1,950
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $70,200
  • Net Operating Income: $48,829
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $19,265
  • Electric: $500
  • Gas/Fuel: $500
  • New Taxes: $12,631
  • Trash: $562
  • Insurance: $1,030
  • Water/Sewer: $1,162

Property Details for 3015 S Palm Grove Ave

Interior Features
Laundry Information
  • Has Laundry
  • Inside
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 3
  • # of Parking Spaces: 3
Lot Information
  • Lot Features: 2-5 Units/Acre
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: 1 Common Wall
  • Total # of Units: 3
  • Parcel Number: 5057029014
  • Year Built Source: Assessor
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: North of Jefferson Blvd., East of S. La Brea, South of W. Adams Blvd.
Neighborhood Information
  • Community Features: Sidewalks, Street Lights, Urban
View more facts & features

Local Los Angeles Agent

Sale History for 3015 S Palm Grove Ave

Last sold for $975,000 on April 20th, 2022

  • October, 2021

  • Oct 6, 2021

    Date

    Pending

    CRMLS: SB21182045

    $995,000

    Price

  • Sep 8, 2021

    Date

    Price Change

    CRMLS: SB21182045

    $995,000

    Price

  • Aug 17, 2021

    Date

    Active

    CRMLS: SB21182045

    $1,025,000

    Price

  • December, 2007

  • Dec 10, 2007

    Date

    Sold (Public Records)

    Public Records

    $529,000

    Price

Show More

Tax History for 3015 S Palm Grove Ave

Assessed Value (2020): $698,297
Year Land Value Improved Value Assessed Value
2020 $600,519 $97,778 $698,297

Home Value Compared to the Market

This property vs the competition

3015 S Palm Grove Ave sold on April 20, 2022 for 16.39% lower 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 $483.01 per/sqft which puts the price per square foot 36.03% lower than the current median sale per square foot for the city of Los Angeles.

About 3015 S Palm Grove Ave

Detailed summary of property

3015 S Palm Grove Ave is a multi family that recently sold in Los Angeles, CA 90016. This multi family property offered 3 bedrooms, 3 bathrooms, roughly 2,060 living square feet, and sits on an approximately 5,200 square foot lot. 3015 S Palm Grove Ave was first listed on ArdentRealEstateGroup.com on August 17, 2021. The homeowner sold the property for $975,000. 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 16.39% lower than the current median priced home. Local homes that are currently for sale include 2121 Thurman Ave, 4006 W 21st St and 2609 W 30th St. While the average home in Los Angeles, CA is selling in 92 days, 3015 S Palm Grove Ave has a days on market of 50 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 3015 S Palm Grove Ave 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 3015 S Palm Grove Ave

Public county record property details
Beds
4
Baths
3
Year built
1933
Sq. Ft.
2,060
Lot Size
5,200
Stories
--
Type
Duplex (2 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
444
APN
5057-029-014

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
$1,060,000
Median List Price/Sq.Ft.
$740
Median Sold Price
$885,000
Median Sold Price/Sq.Ft.
$699
Total Inventory
76
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%)

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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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