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314 W 56Th St, Los Angeles, CA 90037
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314 W 56Th St Los Angeles, CA 90037

$930,000 Sold Price as of 01/17/2023
  • 10 Beds
  • 6 Baths
  • 3,686 Sq.Ft.
Sold
$930,000 Sold Price as of 01/17/2023 Refinance Your Mortgage
Map preview of 314 W 56Th St, Los Angeles, CA 90037

Property Overview: 314 W 56Th St Los Angeles, CA has 10 bedrooms, 6 bathrooms, 3,686 living square feet and 5,867 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: **Priced to sell! ** Great South L.A. location on W 56th St. just north of Slauson Ave. and south of the up-and-coming Figueroa neighborhood adjacent to the University of Southern Cal. The subject property is very near Downtown L.A. and minutes to LAX and SoFi Stadium. Additionally, there are multiple newly developed 2-unit properties almost adjacent to the subject property on W 56th St. Built in 2013, the property is not subject to City or State rent-control. This well-maintained property features two large five bedroom – three bath units with spacious floor plans. Both tenants are section-8 (providing secured income). The property is separately metered (tenants pay for electric, gas, & trash), gated, and features a detached-enclosed three car garage with additional surface parking at the rear of property. This is a fantastic cash-flowing property for any investor looking to capitalize on newer construction (low-maintenance) / non-rent control asset in a rapidly improving area of L.A. Property to be sold in "As-Is" condition. Buyer to verify all info.

Listed by Matthew Sillaman | BRE #01925847 | LB Property Management Inc
Last checked: 6 minutes ago | Last updated: April 19th, 2024 | Source CRMLS | DOM: 10

Home details

Lot Sq. Ft
5,867
HOA Dues
$0/mo
Year built
2013
Garage
3 Car
Property Type:
Duplex
Status
Sold
MLS#
SR22251645
City
Los Angeles
County
Los Angeles
Time on Site
653 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 2
  • Total # of Buildings: 2
  • # of Leased Units: 2
  • # of Electric Meters: 2
  • # of Gas Meters: 2
  • # of Water Meters: 2
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 5
  • # of Baths: 3
  • Garage Spaces: 2
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $3,133
  • Total Rent: $3,133
  • Pro Forma/Market Rent: $3,700
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 5
  • # of Baths: 3
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $3,350
  • Total Rent: $3,350
  • Pro Forma/Market Rent: $3,700
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 6.21%
  • Gross Rent Multiplier: 11.89
  • Gross Scheduled Income: $77,796
  • Net Operating Income: $57,484
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $20,313
  • Electric: $0
  • Gas/Fuel: $0
  • New Taxes: $11,563
  • Trash: $0
  • Gardener: $1,800
  • Insurance: $2,150
  • Maintenance: $1,500
  • Water/Sewer: $3,000

Property Details for 314 W 56Th St

Interior Features
Laundry Information
  • Has Laundry
  • Gas & Electric Dryer Hookup, Gas Dryer Hookup, Individual Room, 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: 4
  • Has Parking
  • Parking Features: Garage
Lot Information
  • Lot Features: Level
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 2
  • Parcel Number: 5101038015
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is not Attached
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: Located near the corner of W 56th St & S Broadway east of the 110 FWY.
Neighborhood Information
  • Community Features: Urban
View more facts & features

Local Los Angeles Agent

Sale History for 314 W 56Th St

Last sold for $930,000 on January 17th, 2023

  • April, 2024

  • Apr 19, 2024

    Date

    Expired

    CRMLS: PW23194513

    $1,250,000

    Price

  • Oct 18, 2023

    Date

    Active

    CRMLS: PW23194513

    $1,250,000

    Price

  • Listing provided courtesy of CRMLS

    We are pleased to present the exclusive opportunity to acquire 314 W 56th St. a multi-family building comprised of two 5 bedroom 3 bathroom units ideally located in Los Angeles, CA. This property is gated and separately metered for each tenant for gas, electric, and trash. Built in 2013, you can rest assured the the duplex has been well maintained over the years. Don't miss out on a rare opportunity for any multi-family investor looking to add a highly sought after property to their portfolio and/or a great 1031 Exchange.

  • January, 2023

  • Jan 17, 2023

    Date

    Sold

    CRMLS: SR22251645

    $930,000

    Price

  • Dec 5, 2022

    Date

    Active

    CRMLS: SR22251645

    $925,000

    Price

  • November, 2013

  • Nov 15, 2013

    Date

    Sold (Public Records)

    Public Records

    $550,005

    Price

  • January, 2013

  • Jan 24, 2013

    Date

    Sold (Public Records)

    Public Records

    $115,000

    Price

Show More

Tax History for 314 W 56Th St

Assessed Value (2020): $616,487
Year Land Value Improved Value Assessed Value
2020 $196,154 $420,333 $616,487

Home Value Compared to the Market

This property vs the competition

314 W 56Th St sold on January 17, 2023 for 17.41% lower 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 $250.95 per/sqft which puts the price per square foot 65.34% lower than the current median sale per square foot for the city of Los Angeles.

About 314 W 56Th St

Detailed summary of property

314 W 56Th St is a duplex that recently sold in Los Angeles, CA 90037. This duplex offered 10 bedrooms, 6 bathrooms, roughly 3,686 living square feet, and sits on an approximately 5,867 square foot lot. 314 W 56Th St was first listed on ArdentRealEstateGroup.com on December 6, 2022. The homeowner sold the property for $930,000. 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 17.41% lower than the current median priced home. Local homes that are currently for sale include 821 W 62nd Street, 6211 S San Pedro St and 6215 S San Pedro St. While the average home in Los Angeles, CA is selling in 106 days, 314 W 56Th St has a days on market of 10 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 314 W 56Th St Los Angeles, CA 90037 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 314 W 56Th St

Public county record property details
Beds
10
Baths
6
Year built
2013
Sq. Ft.
3,686
Lot Size
5,866
Stories
--
Type
Duplex (2 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
37
APN
5101-038-015

The source for these homes facts are from public records.

90037 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$688,000
Median List Price/Sq.Ft.
$546
Median Sold Price
$626,228
Median Sold Price/Sq.Ft.
$437
Total Inventory
36
Median Sale to List Price %
125.5%
Avg Days on Market
17
Loan Type
Conventional (50%), 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.

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