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311 W Palm Ave El Segundo, CA 90245

$4,387,500 Sold Price as of 05/31/2023

15 Beds
8 Baths
7,332 Sq.Ft.

Sold

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Map preview of 311 W Palm Ave, El Segundo, CA 90245

Property Overview: 311 W Palm Ave El Segundo, CA has 15 bedrooms, 8 bathrooms, 7,332 living square feet and 8,376 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 311 West Palm Avenue in El Segundo is an 8-unit apartment building located in the heart of El Segundo.The 7,332 sq. ft. building situated on a 8,375 sq. ft. lot and boasts an attractive unit mix of one (1) 1 bed/1 bath and (7) 2 bed/1.5 bath units, all townhome style. There are 10 dedicated carports for the building on premises and a laundry facility onsite for the tenants' convenience. While the property is a turnkey asset with new slightly sloped roofs, sewer lines, and seven renovated units, there is still over 20% rent upside. El Segundo is a close knit, family oriented community and home to award winning public schools. While it is considered a beach community, it does not experience the influx of visitors that neighboring beach communities contend with. With the Silicon Beach spillover, the need for housing is at an all-time high, making multifamily assets in the area highly desirable. 311 W Palm Ave provides an investor the opportunity to own an investment property with strong income on a valuable piece of land in an "A" location.

Listed by Daniel Shieh | BRE #01978847 | Lyon Stahl Investment Real Estate, Inc.

Last checked: 10 minutes ago | Last updated: June 5th, 2023 | Source CRMLS | DOM: 42

Home details

Lot Sq. Ft: 8,376
HOA Dues: $0/mo
Year built: 1970
Garage: --
Property Type:: Multi Family

Status: Sold
MLS#: 23244784
City: El Segundo
County: Los Angeles
Time on Site: 416 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 8
Total # of Buildings: 1

Unit Breakdown 1

# of Units: 1
# of Beds: 1
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,900
Total Rent: $1,900
Pro Forma/Market Rent: $2,595

Unit Breakdown 2

# of Units: 5
# of Beds: 2
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $2,640
Total Rent: $13,200
Pro Forma/Market Rent: $17,475

Unit Breakdown 3

# of Units: 2
# of Beds: 2
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $3,495
Total Rent: $0
Pro Forma/Market Rent: $6,990

Multi-Family Income/Expense Information

Property Income and Analysis

Gross Rent Multiplier: 17.3
Gross Scheduled Income: --
Net Operating Income: $170,403
Gross Operating Income: $257,128

Annual Expense Breakdown

Total Operating Expense: --

Property Details for 311 W Palm Ave

Interior Features

Cooling Information

No Cooling
None

Heating Information

Has Heating
Wall Furnace

Lot Details / Garage and Parking

Parking/Garage Information

# of Parking Spaces: 10
Has Parking
Parking Features: Carport

Property Information

Total # of Units: 8
Parcel Number: 4132008014

Homeowners Association, Utilities, Taxes / Assessments

Homeowners Association

Is Not Part of Association

Location / Neighborhood

Location Information

Directions: west of main, north of grand

View more facts & features

Local El Segundo Agent

Sale History for 311 W Palm Ave

Last sold for $4,387,500 on May 31st, 2023

May, 2023
May 31, 2023

Date

Sold

CRMLS: 23244784

$4,387,500

Price
Feb 23, 2023

Date

Active

CRMLS: 23244784

$4,595,000

Price
September, 2015
Sep 14, 2015

Date

Sold (Public Records)

Public Records

--

Price
December, 2000
Dec 22, 2000

Date

Sold (Public Records)

Public Records

$280,000

Price

Tax History for 311 W Palm Ave

Assessed Value (2020): $1,320,965

Year	Land Value	Improved Value	Assessed Value
2020	$455,224	$865,741	$1,320,965

Home Value Compared to the Market

This property vs the competition

311 W Palm Ave sold on May 31, 2023 for 168.71% higher than the current median sold price for the city of El Segundo which is $1,710,000. The median sold price per/sqft for El Segundo is $961 and this home is sold at $626.7 per/sqft which puts the price per square foot 34.79% lower than the current median sale per square foot for the city of El Segundo.

About 311 W Palm Ave

Detailed summary of property

311 W Palm Ave is a multi family that recently sold in El Segundo, CA 90245. This multi family property offered 15 bedrooms, 8 bathrooms, roughly 7,332 living square feet, and sits on an approximately 8,376 square foot lot. 311 W Palm Ave was first listed on ArdentRealEstateGroup.com on February 27, 2023. The homeowner sold the property for $4,387,500. Home in El Segundo are selling for a median price of $1,710,000 and a median price per square foot of $961. Based on Ardent Real Estate Group's El Segundo Market Data, this home is sold 168.71% higher than the current median priced home. Local homes that are currently for sale include 1826 S Bundy Dr, 8662 Cadillac Ave and 1561 S Carmelina Ave. While the average home in El Segundo, CA is selling in 81 days, 311 W Palm Ave has a days on market of 42 days. There are currently 23 homes for sale in the El Segundo real estate market and 15 of them are single family homes while 3 of them are condos and 5 are townhomes. For more information on this home for sale at 311 W Palm Ave El Segundo, CA 90245 contact Ardent Real Estate Group and we will put you in touch with one of our El Segundo agents.

Public Facts for 311 W Palm Ave

Public county record property details

Beds: 16
Baths: 16
Year built: 1970
Sq. Ft.: 7,332
Lot Size: 8,375
Stories: --

Type: Apartment House (5+ Units)
Pool: No
Spa: No
County: Los Angeles
Lot#: 8
APN: 4132-008-014

The source for these homes facts are from public records.

90245 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$1,799,000

Median List Price/Sq.Ft.

$795

Median Sold Price

$1,710,000

Median Sold Price/Sq.Ft.

$961

Total Inventory

Median Sale to List Price %

95.26%

Avg Days on Market

Loan Type

Conventional (20%), FHA (0%), VA (0%), Cash (0%), Other (40%)

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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.