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3400 Somerset Dr, Los Angeles, CA 90016
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3400 Somerset Dr Los Angeles, CA 90016

$1,950,000 Sold Price as of 08/27/2021
  • 10 Beds
  • 8 Baths
  • 5,760 Sq.Ft.
Sold
$1,950,000 Sold Price as of 08/27/2021 Refinance Your Mortgage
Map preview of 3400 Somerset Dr, Los Angeles, CA 90016

Property Overview: 3400 Somerset Dr Los Angeles, CA has 10 bedrooms, 8 bathrooms, 5,760 living square feet and 6,250 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: I am pleased to offer for sale an eight-unit apartment community located at 3400 Somerset Drive. The property consists of one 5,760 square foot building situated on a6,250 square foot parcel. The unit mix is comprised of six one-bedrooms and two two-bedroom units. There are six garage spaces at the rear of the building for parking. West Adams sits in an opportunity zone, making it highly attractive to investors. Developers like CIM Group, 4D Developments and Redcar Properties all have projects under way in this neighborhood. The future of West Adams is drawing comparisons to Abbot Kinney and Highland Park which allows a new investor to benefit from future rent growth and appreciation potential.

Listed by Sean Rosenzweig | BRE #01406343 | Marcus & Millichap
Last checked: 25 seconds ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 69

Home details

Lot Sq. Ft
6,250
HOA Dues
$0/mo
Year built
1930
Garage
6 Car
Property Type:
Multi Family
Status
Sold
MLS#
21719750
City
Los Angeles
County
Los Angeles
Time on Site
1092 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: $1,328
  • Total Rent: $1,328
  • Pro Forma/Market Rent: $1,800
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,083
  • Total Rent: $1,083
  • Pro Forma/Market Rent: $1,800
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,305
  • Total Rent: $1,305
  • Pro Forma/Market Rent: $1,800
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,661
  • Total Rent: $1,661
  • Pro Forma/Market Rent: $2,100
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,127
  • Total Rent: $1,127
  • Pro Forma/Market Rent: $1,800
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,107
  • Total Rent: $1,107
  • Pro Forma/Market Rent: $1,800
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,238
  • Total Rent: $1,238
  • Pro Forma/Market Rent: $1,800
Unit Breakdown 8
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,703
  • Total Rent: $1,703
  • Pro Forma/Market Rent: $2,100
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 15.76
  • Gross Scheduled Income: --
  • Net Operating Income: $67,391
  • Gross Operating Income: $123,110
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 3400 Somerset Dr

Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 6
  • # of Parking Spaces: 6
  • Has Parking
  • Parking Features: Garage - Single Door
Lot Information
  • Lot Size Source: Assessor
Property Information
  • Total # of Units: 8
  • Parcel Number: 5046002004
Location / Neighborhood
Location Information
  • Directions: Located West of the Crenshaw and Jefferson Boulevard intersection and only a five-minute walk to the Crenshaw/Exposition Metro, the subject property is located in the West Adams neighborhood of Los Angeles.
View more facts & features

Local Los Angeles Agent

Sale History for 3400 Somerset Dr

Last sold for $1,950,000 on August 27th, 2021

  • September, 2021

  • Sep 3, 2021

    Date

    Sold

    CRMLS: 21719750

    $1,950,000

    Price

  • Jun 23, 2021

    Date

    Pending

    CRMLS: 21719750

    $1,995,000

    Price

  • Apr 15, 2021

    Date

    Active

    CRMLS: 21719750

    $1,995,000

    Price

  • May, 2007

  • May 31, 2007

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • April, 2005

  • Apr 15, 2005

    Date

    Sold (Public Records)

    Public Records

    $550,000

    Price

Show More

Tax History for 3400 Somerset Dr

Assessed Value (2020): $980,043
Year Land Value Improved Value Assessed Value
2020 $735,035 $245,008 $980,043

Home Value Compared to the Market

This property vs the competition

3400 Somerset Dr sold on August 27, 2021 for 67.65% higher 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 $346.35 per/sqft which puts the price per square foot 54.13% lower than the current median sale per square foot for the city of Los Angeles.

About 3400 Somerset Dr

Detailed summary of property

3400 Somerset Dr is a multi family that recently sold in Los Angeles, CA 90016. This multi family property offered 10 bedrooms, 8 bathrooms, roughly 5,760 living square feet, and sits on an approximately 6,250 square foot lot. 3400 Somerset Dr was first listed on ArdentRealEstateGroup.com on May 13, 2021. The homeowner sold the property for $1,950,000. 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 67.65% higher than the current median priced home. Local homes that are currently for sale include 4817 St Charles Pl, 3008 Stocker St and 5134 W Washington Blvd. While the average home in Los Angeles, CA is selling in 94 days, 3400 Somerset Dr has a days on market of 69 days. There are currently 3580 homes for sale in the Los Angeles real estate market and 2422 of them are single family homes while 1059 of them are condos and 93 are townhomes. For more information on this home for sale at 3400 Somerset Dr 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 3400 Somerset Dr

Public county record property details
Beds
--
Baths
--
Year built
1930
Sq. Ft.
5,760
Lot Size
6,249
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
25
APN
5046-002-004

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
$1,099,000
Median List Price/Sq.Ft.
$774
Median Sold Price
$885,000
Median Sold Price/Sq.Ft.
$699
Total Inventory
75
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%)

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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