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315 W 47th St, Los Angeles, CA 90037
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315 W 47th St Los Angeles, CA 90037

$700,000 Sold Price as of 09/25/2020
  • 7 Beds
  • 4 Baths
  • 2,451 Sq.Ft.
Sold
$700,000 Sold Price as of 09/25/2020 Refinance Your Mortgage
Map preview of 315 W 47th St, Los Angeles, CA 90037

Property Overview: 315 W 47th St Los Angeles, CA has 7 bedrooms, 4 bathrooms, 2,451 living square feet and 4,566 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Growth Investment Group is proud to offer 315 W 47th street, an attractive investment opportunity conveniently located near Downtown Los Angeles. The property is a four unit apartment building comprised of three (3) 1bedroom+1bathroom units and one (1) 4bedroom+1bathroom unit with approximately 2,541 square feet. This opportunity is in a centralized area of Los Angeles with less than 3.5 miles from Downtown Los Angeles near University of Southern California (USC), Banc of California Stadium, Los Angeles Memorial Coliseum and Exposition Park. The site is surrounded by residential and multifamily residential communities. The area is comprised mostly of blue-collar hard working families with a historically low vacancy and high rental demand. The property has excellent street frontage, situated on 47th street in between Broadway and 110 FWY and a few blocks east of Figueroa Street. It provides easy access to the rest of the Greater Los Angeles area with close proximity to FWY’s 110, 10 & 105. Los Angeles has a diverse economy driven by international trade, entertainment, aerospace, technology, fashion, tourism, finance, telecommunications, healthcare, and more. In 2017, the greater L.A area was ranked as the third-largest economic metropolitan area in the world with $1.0 Trillion of gross metropolitan product; and is the largest manufacturing center in the United States.

Listed by Matthew Guerra | BRE #02022646 | GIG Real Estate Inc.
Last checked: 19 seconds ago | Last updated: June 6th, 2023 | Source CRMLS | DOM: 85

Home details

Lot Sq. Ft
4,566
HOA Dues
$0/mo
Year built
1922
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
AR20115256
City
Los Angeles
County
Los Angeles
Time on Site
1192 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 2
  • # of Leased Units: 4
  • # of Electric Meters: 4
  • # of Gas Meters: 4
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 4
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,820
  • Total Rent: $1,820
  • Pro Forma/Market Rent: $2,500
Unit Breakdown 2
  • # of Units: 3
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,001
  • Total Rent: $3,003
  • Pro Forma/Market Rent: $4,455
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $57,876
  • Net Operating Income: $40,139
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $16,001
  • Electric: $1
  • Gas/Fuel: $1
  • New Taxes: $8,666
  • Trash: $1,020
  • Insurance: $1,103
  • Water/Sewer: $2,220

Property Details for 315 W 47th St

Interior Features
Heating Information
  • Has Heating
  • See Remarks
Laundry Information
  • Has Laundry
  • See Remarks
Kitchen Information
  • Has Appliances
  • Gas Range
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
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: 4
  • Parcel Number: 5110009027
  • Year Built Source: Assessor
  • Property is Attached
  • Accessibility Features: 2+ Access Exits
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
  • Utilities: Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
Location / Neighborhood
Location Information
  • Directions: from downtown, 110 south, exit vernon, on east side of fwy on 47th st
Neighborhood Information
  • Community Features: Curbs, Gutters, Sidewalks, Street Lights
View more facts & features

Local Los Angeles Agent

Sale History for 315 W 47th St

Last sold for $700,000 on September 25th, 2020

  • September, 2020

  • Sep 27, 2020

    Date

    Sold

    CRMLS: AR20115256

    $700,000

    Price

  • Sep 8, 2020

    Date

    Pending

    CRMLS: AR20115256

    $738,000

    Price

  • Jun 15, 2020

    Date

    Active

    CRMLS: AR20115256

    $738,000

    Price

  • September, 2020

  • Sep 27, 2020

    Date

    Sold

    CRMLS: AR20125940

    $700,000

    Price

  • Aug 12, 2020

    Date

    Pending

    CRMLS: AR20125940

    $738,000

    Price

  • Jun 29, 2020

    Date

    Active

    CRMLS: AR20125940

    $738,000

    Price

  • Listing provided courtesy of CRMLS

    Growth Investment Group is proud to offer 315 W 47th street, an attractive investment opportunity conveniently located near Downtown Los Angeles. The property is a four unit apartment building comprised of three (3) 1bedroom+1bathroom units and one (1) 4bedroom+1bathroom unit with approximately 2,541 square feet. This opportunity is in a centralized area of Los Angeles with less than 3.5 miles from Downtown Los Angeles near University of Southern California (USC), Banc of California Stadium, Los Angeles Memorial Coliseum and Exposition Park. The site is surrounded by residential and multifamily residential communities. The area is comprised mostly of blue-collar hard working families with a historically low vacancy and high rental demand. The property has excellent street frontage, situated on 47th street in between Broadway and 110 FWY and a few blocks east of Figueroa Street. It provides easy access to the rest of the Greater Los Angeles area with close proximity to FWY’s 110, 10 & 105. Los Angeles has a diverse economy driven by international trade, entertainment, aerospace, technology, fashion, tourism, finance, telecommunications, healthcare, and more. In 2017, the greater L. A area was ranked as the third-largest economic metropolitan area in the world with $1.0 Trillion of gross metropolitan product; and is the largest manufacturing center in the United States.

  • September, 2020

  • Sep 25, 2020

    Date

    Sold (Public Records)

    Public Records

    $700,000

    Price

  • October, 2019

  • Oct 25, 2019

    Date

    Expired

    CRMLS: 19459036

    $750,000

    Price

  • Jun 13, 2019

    Date

    Withdrawn

    CRMLS: 19459036

    $750,000

    Price

  • Apr 25, 2019

    Date

    Active

    CRMLS: 19459036

    $750,000

    Price

  • Listing provided courtesy of CRMLS

    We are pleased to announce the sale of 315 West 47th Street, a four-unit multifamily property located one mile from the University of Southern California and the Los Angeles Memorial Coliseum. The current income may provide an investor with an attractive 4.80% initial CAP Rate, plus an additional opportunity to improve income with up to 40% in rent upside. An investor may be able to further capitalize on desirable residential financing programs to improve their cash flow.Tenants enjoy convenient access to public transportation, including the major bus depot located at the corner of Broadway and Vernon Avenue, just three blocks from the property. Currently 100% occupied, the property provides easy access to Downtown Los Angeles via the 110 Freeway, with the Vernon Avenue on-ramp only a short drive away. The two buildings contain pitched roofs and units are separately metered for both gas and electricity.

  • September, 2019

  • Sep 4, 2019

    Date

    Canceled

    CRMLS: 19482708

    $699,000

    Price

  • Jun 27, 2019

    Date

    Active

    CRMLS: 19482708

    $699,000

    Price

  • Listing provided courtesy of CRMLS

    We are pleased to announce the sale of 315 West 47th Street, a four-unit multifamily property located one mile from the University of Southern California and the Los Angeles Memorial Coliseum. The current income may provide an investor with an attractive 5.23% initial CAP Rate, plus an additional opportunity to improve income with up to 40% in rent upside. An investor may be able to further capitalize on desirable residential financing programs to improve their cash flow.Tenants enjoy convenient access to public transportation, including the major bus depot located at the corner of Broadway and Vernon Avenue, just three blocks from the property. Currently 100% occupied, the property provides easy access to Downtown Los Angeles via the 110 Freeway, with the Vernon Avenue on-ramp only a short drive away. The two buildings contain pitched roofs and units are separately metered for both gas and electricity.

  • May, 2016

  • May 25, 2016

    Date

    Sold (Public Records)

    Public Records

    $505,000

    Price

Show More

Tax History for 315 W 47th St

Assessed Value (2020): $546,626
Year Land Value Improved Value Assessed Value
2020 $303,080 $243,546 $546,626

Home Value Compared to the Market

This property vs the competition

315 W 47th St sold on September 25, 2020 for 29.71% lower than the current median sold price for the city of Los Angeles which is $1,050,000. The median sold price per/sqft for Los Angeles is $738 and this home is sold at $301.1 per/sqft which puts the price per square foot 59.2% lower than the current median sale per square foot for the city of Los Angeles.

About 315 W 47th St

Detailed summary of property

315 W 47th St is a multi family that recently sold in Los Angeles, CA 90037. This multi family property offered 7 bedrooms, 4 bathrooms, roughly 2,451 living square feet, and sits on an approximately 4,566 square foot lot. 315 W 47th St was first listed on ArdentRealEstateGroup.com on January 13, 2021. The homeowner sold the property for $700,000. Home in Los Angeles are selling for a median price of $1,050,000 and a median price per square foot of $738. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 29.71% lower than the current median priced home. Local homes that are currently for sale include 362 W 59th Pl, 735 E Vernon Ave and 132 E 60th St. While the average home in Los Angeles, CA is selling in 97 days, 315 W 47th St has a days on market of 85 days. There are currently 3357 homes for sale in the Los Angeles real estate market and 2273 of them are single family homes while 993 of them are condos and 86 are townhomes. For more information on this home for sale at 315 W 47th 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 315 W 47th St

Public county record property details
Beds
5
Baths
5
Year built
1922
Sq. Ft.
2,451
Lot Size
4,566
Stories
--
Type
Quadruplex (4 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
84
APN
5110-009-027

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
$725,000
Median List Price/Sq.Ft.
$562
Median Sold Price
$739,000
Median Sold Price/Sq.Ft.
$472
Total Inventory
32
Median Sale to List Price %
101.93%
Avg Days on Market
35
Loan Type
Conventional (50%), FHA (25%), VA (0%), Cash (25%), Other (0%)

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Homes for Sale Near 315 W 47th St

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Recently Sold Homes Near 315 W 47th St

314 W 47th St, Los Angeles, CA 90037
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330 W 46Th St, Los Angeles, CA 90037
$453,000 Last Sold Price
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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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