3551 S Western Ave Los Angeles, CA 90018

$2,625,000 Sold Price as of 02/18/2020

-- Beds
-- Baths
8,000 Sq.Ft.

Off Market

$2,625,000 Sold Price as of 02/18/2020 Refinance Your Mortgage

Map preview of 3551 S Western Ave, Los Angeles, CA 90018

Property Overview: 3551 S Western Ave Los Angeles, CA has -- bedrooms, -- bathrooms, 8,000 living square feet and 12,226 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Home Value Compared to the Market

3551 S Western Ave is currently an off market home in the city of Los Angeles. If you are considering making a home purchase, the value you pay for your home will depend on the market you're looking to purchase in. The city of Los Angeles has a median list price of $1,200,000. The median price per/sqft for Los Angeles is $768. With those numbers in mind, if you are looking to purchase a median priced home in Los Angeles, CA and put 20% down you will need to save up $240,000 for the down payment and will need roughly $24,000 for closing costs on top of the down payment. Homeowners who are looking to sell their home could expect to pay an average of 5% (2.5% to the listing agent and 2.5% to the buyers agent) in agent commissions when it comes to selling their home. With the median sale price for a home in Los Angeles the commission could be as much as $56,000. If you're thinking of selling and want to save, contact a local Ardent Real Estate Agent today.

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Sale History for 3551 S Western Ave

Last sold for $2,625,000 on February 18th, 2020

September, 2023
Sep 1, 2023

Date

Canceled

CRMLS: 23292803

$3,500,000

Price
Jul 20, 2023

Date

Active

CRMLS: 23292803

$3,500,000

Price
Listing provided courtesy of CRMLS

***CASH COW!! 6.8 CAP -- WEST ADAMS! This is a great deal and the numbers speak for themselves. 26,480 total monthly rents at full occupancy. Two vacant units currently. Near TONS of development and just a short distance from USC. Two units currently vacant but fixed up and ready for the next owner. ***In an area of RAPID development. Amazing GRM and CAP rate. Fourteen residentuail studios on the top floor and 3 commercial spaces on the bottom level. Eleven of the 14 residentail units are updated with new floors, bathrooms and kichens. The Resturant and the School are on month to month leases with TONS of upside that can be captured quickly in those spaces. Ample gated parking in rear of property. Located on Western Ave close to USC, Exposition Park, Banc of California Stadium, Natural History Museum, and California Science Center. Near USC Village (Trader Joes, Target, Core Power Yoga, Sunlife Organics, Trejo's Tacos and more Restaurants, Coffee Shops, and shopping!). 1 mile from Expo/USC Station with easy access to DTLA & West Adams. Easy & convenient access to the 110 Freeway. This is a true turnkey investment property in a rapidly improving area!

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July, 2022
Jul 5, 2022

Date

Expired

CRMLS: 22149179

$3,300,000

Price
Apr 22, 2022

Date

Active

CRMLS: 22149179

$3,600,000

Price
Listing provided courtesy of CRMLS

PRICE REDUCTION! 23K A month in income! HUGE cash flow on this trophy asset in the heart of West Adams. Well maintained property just steps from USC and home to the 2028 Olympics. Just steps from the public metro station and surrounded by new development. Big double lot Zoned C2 with plenty of parking. Unit mix is comprised of 14 singles and 3 large commercial spaces. 9 of the 14 units have been upgraded with kitchenettes. Great opportunity.

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February, 2020
Feb 18, 2020

Date

Sold (Public Records)

Public Records

$2,625,000

Price
February, 2020
Feb 18, 2020

Date

Sold

CRMLS: 19529972

$2,625,000

Price
Nov 13, 2019

Date

Active

CRMLS: 19529972

$2,995,000

Price
Listing provided courtesy of CRMLS

3551 S Western Avenue - a two-story mixed-use building with retail on the ground floor and apartments on the second floor. The subject property consists of approximately 8,000 SF of building situated on an approximate 12,226 SF lot. The building consists of 3 (three) retail storefronts on the first floor and 14 (fourteen) bachelor apartments on the second floor, with 9 (nine) apartments being unfurnished and 5 (five) being furnished. The current tenants occupying the retail storefronts include: Clemen's Restaurant, a Church, and a Beauty Salon. The subject property also contains 18 marked parking spaces boasting a 2.25:1 parking ratio. This asset presents a rare opportunity to purchase a significant corner lot with both existing value-added and redevelopment potential, that is also producing a competitive current cash flow yield.

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August, 2015
Aug 7, 2015

Date

Sold (Public Records)

Public Records

$1,260,000

Price

Tax History for 3551 S Western Ave

Assessed Value (2020): $1,363,862

Year	Land Value	Improved Value	Assessed Value
2020	$930,890	$432,972	$1,363,862

About 3551 S Western Ave

Detailed summary of property

3551 S Western Ave is categorized with a use code of Commercial/Office/Residential (Mixed Use) in Los Angeles, CA 90018 and last sold on February 18, 2020 for $2,625,000. This property has -- bedrooms, -- bathrooms, roughly 8,000 living square feet, and sits on an approximately 12,226 square foot lot. Homes 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 134.38% higher than the current median priced home. 3551 S Western Ave was last sold on February 18, 2020 for $2,625,000. Local nearby listings include 3006 S Dalton Ave, 1460 W 35th St and 3812 S St Andrews Pl. The average home in Los Angeles, CA is selling in 106 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. If you are the homeowner and looking to sell the home at 3551 S Western Ave Los Angeles, CA 90018 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 3551 S Western Ave

Public county record property details

Beds: --
Baths: --
Year built: 1957
Sq. Ft.: 8,000
Lot Size: 12,226
Stories: 1

Type: Commercial/Office/Residential (Mixed Use)
Pool: No
Spa: No
County: Los Angeles
Lot#: 1,2
APN: 5041-013-002

The source for these homes facts are from public records.

90018 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$999,800

Median List Price/Sq.Ft.

$638

Median Sold Price

$1,040,000

Median Sold Price/Sq.Ft.

$672

Total Inventory

Median Sale to List Price %

104.1%

Avg Days on Market

Loan Type

Conventional (22.22%), FHA (11.11%), VA (0%), Cash (22.22%), Other (22.22%)

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(714) 706-1823

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