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335 S Westlake Ave, Los Angeles, CA 90057
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335 S Westlake Ave Los Angeles, CA 90057

$2,000,000 Sold Price as of 06/28/2022
  • 1 Beds
  • 15 Baths
  • 7,345 Sq.Ft.
Sold
$2,000,000 Sold Price as of 06/28/2022 Refinance Your Mortgage
Map preview of 335 S Westlake Ave, Los Angeles, CA 90057

Property Overview: 335 S Westlake Ave Los Angeles, CA has 1 bedrooms, 15 bathrooms, 7,345 living square feet and 7,745 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: We are pleased to present this value-add opportunity to acquire 335 S. Westlake, a 15 unit multifamily investment property located in the Westlake community of Los Angeles. Built in 1957 the property offers a 7,345 SF building comprised of 14 studios and 1, one bedroom, one bath units. For future development opportunity the property is situated on a 7,743 SF lot zoned R4, TOC 3 in an enterprise and opportunity zone. The Westlake neighborhood has shown strong rental growth year after year. The property is located near the Metro Purple and Red lines at the Westlake MacArthur park station. The property is sold in its As-Is, Where-Is condition

Listed by D. Timothy Byrne | BRE #01186465 | Compass
Last checked: 6 minutes ago | Last updated: July 16th, 2024 | Source CRMLS | DOM: 13

Home details

Lot Sq. Ft
7,745
HOA Dues
$0/mo
Year built
1957
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
22148467
City
Los Angeles
County
Los Angeles
Time on Site
883 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 15
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 10
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $747
  • Total Rent: $7,472
  • Pro Forma/Market Rent: $11,500
Unit Breakdown 2
  • # of Units: 3
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,000
  • Total Rent: $3,000
  • Pro Forma/Market Rent: $3,450
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $350
  • Total Rent: $350
  • Pro Forma/Market Rent: $1,500
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $1,150
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 3.75%
  • Gross Rent Multiplier: 13.9
  • Gross Scheduled Income: --
  • Net Operating Income: $74,904
  • Gross Operating Income: $143,666
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 335 S Westlake Ave

Interior Features
Cooling Information
  • No Cooling
  • None
Kitchen Information
  • Has Appliances
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 9
  • Has Parking
  • Parking Features: Carport
Property Information
  • Total # of Units: 15
  • Parcel Number: 5154028016
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: East of Alvarado Street, South of W. 3rd Street
View more facts & features

Local Los Angeles Agent

Sale History for 335 S Westlake Ave

Last sold for $2,000,000 on June 28th, 2022

  • June, 2022

  • Jun 28, 2022

    Date

    Sold

    CRMLS: 22148467

    $2,000,000

    Price

  • Apr 18, 2022

    Date

    Active

    CRMLS: 22148467

    $1,995,000

    Price

  • January, 2007

  • Jan 8, 2007

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 335 S Westlake Ave

Assessed Value (2020): $685,280
Year Land Value Improved Value Assessed Value
2020 $94,667 $590,613 $685,280

Home Value Compared to the Market

This property vs the competition

335 S Westlake Ave sold on June 28, 2022 for 78.12% higher 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 $271.61 per/sqft which puts the price per square foot 62.48% lower than the current median sale per square foot for the city of Los Angeles.

About 335 S Westlake Ave

Detailed summary of property

335 S Westlake Ave is a multi family that recently sold in Los Angeles, CA 90057. This multi family property offered 1 bedrooms, 15 bathrooms, roughly 7,345 living square feet, and sits on an approximately 7,745 square foot lot. 335 S Westlake Ave was first listed on ArdentRealEstateGroup.com on April 20, 2022. The homeowner sold the property for $2,000,000. 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 78.12% higher than the current median priced home. Local homes that are currently for sale include 857 N La Fayette Park Pl, 942 Menlo Ave and 2828 Reservoir St. While the average home in Los Angeles, CA is selling in 106 days, 335 S Westlake Ave has a days on market of 13 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 335 S Westlake Ave Los Angeles, CA 90057 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 335 S Westlake Ave

Public county record property details
Beds
--
Baths
15
Year built
1957
Sq. Ft.
7,345
Lot Size
7,744
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
56
APN
5154-028-016

The source for these homes facts are from public records.

90057 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$575,000
Median List Price/Sq.Ft.
$531
Median Sold Price
$900,000
Median Sold Price/Sq.Ft.
$515
Total Inventory
16
Median Sale to List Price %
90.91%
Avg Days on Market
16
Loan Type
Conventional (0%), FHA (0%), VA (0%), Cash (100%), Other (0%)

Thinking of Selling?

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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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