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3648 Empire Dr Los Angeles, CA 90034

$1,926,000 Sold Price as of 09/30/2020

8 Beds
7 Baths
4,520 Sq.Ft.

Sold

$1,926,000 Sold Price as of 09/30/2020 Refinance Your Mortgage

Map preview of 3648 Empire Dr, Los Angeles, CA 90034

Property Overview: 3648 Empire Dr Los Angeles, CA has 8 bedrooms, 7 bathrooms, 4,520 living square feet and 5,474 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Built in 1965, this 4-unit property totals 5,473 SF located in West LAs Palms neighborhood, located between Palms and Venice Blvd. The building features a unit mix that includes 1 one-bedroom, 2 two-bed two-bath, and 1 three-bed two-bath apartments. This offering presents an investor the opportunity to purchase a stabilized asset with strong in-place cash-flow of 4.98%. The property features 8 tandem parking spaces.The building is separately metered gas & electric and there is no soft story work required. Furthermore, there is a community laundry room for the building with two washers & dryers. Easy commute to job and educational opportunities as the subject property is located near Downtown Culver City with easy access to Santa Monica, Venice, Marina Del Ray, and Beverlywood. North of Culver City, Palms is a small Los Angeles community with easy access to the Santa Monica (10) Freeway and the San Diego (405) Freeway, as well as the Metro E Line.

Listed by Neema Ahadian | BRE #01346750 | Marcus & Millichap

Last checked: 9 minutes ago | Last updated: June 5th, 2023 | Source CRMLS | DOM: 77

Home details

Lot Sq. Ft: 5,474
HOA Dues: $0/mo
Year built: 1965
Garage: --
Property Type:: Multi Family

Status: Sold
MLS#: 20605146
City: Los Angeles
County: Los Angeles
Time on Site: 1212 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 4
Total # of Buildings: 1

Unit Breakdown 1

# of Units: 1
# of Beds: 1
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,834
Total Rent: $1,834
Pro Forma/Market Rent: $2,150

Unit Breakdown 2

# of Units: 2
# of Beds: 2
# of Baths: 2
Furnishing: Unfurnished
Actual Rent: $2,727
Total Rent: $5,453
Pro Forma/Market Rent: $5,790

Unit Breakdown 3

# of Units: 1
# of Beds: 3
# of Baths: 2
Furnishing: Unfurnished
Actual Rent: $3,750
Total Rent: $3,750
Pro Forma/Market Rent: $3,750

Multi-Family Income/Expense Information

Property Income and Analysis

Cap Rate: 4.98%
Gross Rent Multiplier: 14.35
Gross Scheduled Income: --
Net Operating Income: $94,698
Gross Operating Income: $128,471

Annual Expense Breakdown

Total Operating Expense: --

Property Details for 3648 Empire Dr

Lot Details / Garage and Parking

Parking/Garage Information

# of Parking Spaces: 8
Has Parking
Parking Features: Driveway, Tandem Garage

Property Information

Total # of Units: 4
Parcel Number: 4313004019
Year Built Source: Assessor

Homeowners Association, Utilities, Taxes / Assessments

Homeowners Association

Is Not Part of Association

Location / Neighborhood

Location Information

Directions: Located between Palms Blvd & Venice Blvd

View more facts & features

Local Los Angeles Agent

Sale History for 3648 Empire Dr

Last sold for $1,926,000 on September 30th, 2020

May, 2021
May 25, 2021

Date

Canceled

CRMLS: 21686180

$3,195

Price
Mar 28, 2021

Date

Price Change

CRMLS: 21686180

$3,195

Price
Feb 2, 2021

Date

Price Change

CRMLS: 21686180

$3,295

Price
Jan 28, 2021

Date

Active

CRMLS: 21686180

$3,395

Price
Listing provided courtesy of CRMLS

Located within a quaint 4 unit building on a very quiet street awaits an over 1,400 SF LARGE 3bed + 2bath developers unit apartment!!! This front upper unit provides peace and tranquility with 2 large private balconies. With laminate floorings throughout, dining area, CENTRAL AC and heat, in-unit stackable washer/dryer hookups and 3 large bedrooms. The property also provides the tenant with on-site communal laundry room, 2 tandem parking spots and additional storage cabinets. The property sits only a short 10-15 minute walk to downtown Culver City which is home to many restaurants, nightlife and major tech companies!!! Pet friendly (subject to landlord approval) and ready to go!!

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May, 2021
May 25, 2021

Date

Canceled

CRMLS: 21686176

$2,295

Price
Apr 6, 2021

Date

Price Change

CRMLS: 21686176

$2,295

Price
Mar 28, 2021

Date

Price Change

CRMLS: 21686176

$2,395

Price
Mar 16, 2021

Date

Price Change

CRMLS: 21686176

$2,495

Price
Jan 28, 2021

Date

Price Change

CRMLS: 21686176

$2,595

Price
Jan 28, 2021

Date

Active

CRMLS: 21686176

$2,695

Price
Listing provided courtesy of CRMLS

Located within a quaint 4 unit building on a very quiet street awaits an 1,200 SF LARGE 2bed + 2bath apartment!!! This rear upper unit provides peace and tranquility. With laminate floorings throughout, fireplace, large private balcony, formal dining room and 2 large bedrooms. The property also provides the tenant with on-site communal laundry room, 2 tandem parking spots and additional storage cabinets. Pet friendly (subject to landlord approval) and ready to go!!!

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October, 2020
Oct 5, 2020

Date

Sold

CRMLS: 20605146

$1,926,000

Price
Sep 4, 2020

Date

Active Under Contract

CRMLS: 20605146

$1,900,000

Price
Jul 16, 2020

Date

Price Change

CRMLS: 20605146

$1,900,000

Price
Jul 16, 2020

Date

Active

CRMLS: 20605146

$1,750,000

Price
October, 2020
Oct 5, 2020

Date

Sold

CRMLS: 20604944

$3,200,000

Price
Sep 4, 2020

Date

Active Under Contract

CRMLS: 20604944

$3,500,000

Price
Jul 16, 2020

Date

Active

CRMLS: 20604944

$3,500,000

Price
Listing provided courtesy of CRMLS

3648-3652 Empire Drive is a development opportunity located in Los Angeles highly desirable Palms rental submarket just south of the 10 between Palms Blvd and Venice Blvd, a location that attracts West LA renters with close proximity to Los Angeles finest dining, entertainment, and employment opportunities. The subject property features a 10,948 SF lot, zoned R3-1 in a Tier 3 TOC; opportunity for a developer to build 14 units by-right with the potential of 24 units by utilizing the city of Los Angeles density bonus*. The combined site currently features two buildings including a quadraplex and single family residence. Easy commute to job and educational opportunities as the subject property is located near Downtown Culver City with easy access to Santa Monica, Venice, Marina Del Ray, and Beverlywood.

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September, 2020
Sep 30, 2020

Date

Sold (Public Records)

Public Records

$1,926,000

Price
March, 2010
Mar 19, 2010

Date

Sold (Public Records)

Public Records

$800,000

Price

Tax History for 3648 Empire Dr

Assessed Value (2020): $944,228

Year	Land Value	Improved Value	Assessed Value
2020	$755,385	$188,843	$944,228

Home Value Compared to the Market

This property vs the competition

3648 Empire Dr sold on September 30, 2020 for 59.66% 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 $420.35 per/sqft which puts the price per square foot 44.32% lower than the current median sale per square foot for the city of Los Angeles.

About 3648 Empire Dr

Detailed summary of property

3648 Empire Dr is a multi family that recently sold in Los Angeles, CA 90034. This multi family property offered 8 bedrooms, 7 bathrooms, roughly 4,520 living square feet, and sits on an approximately 5,474 square foot lot. 3648 Empire Dr was first listed on ArdentRealEstateGroup.com on January 13, 2021. The homeowner sold the property for $1,926,000. 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 59.66% higher than the current median priced home. Local homes that are currently for sale include 3777 S Centinela Ave, 1132 S Wooster St and 1140 S Shenandoah St. While the average home in Los Angeles, CA is selling in 94 days, 3648 Empire Dr has a days on market of 77 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 3648 Empire Dr Los Angeles, CA 90034 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 3648 Empire Dr

Public county record property details

Beds: 8
Baths: 7
Year built: 1965
Sq. Ft.: 4,520
Lot Size: 5,473
Stories: --

Type: Quadruplex (4 Units, Any Combination)
Pool: No
Spa: No
County: Los Angeles
Lot#: 75
APN: 4313-004-019

The source for these homes facts are from public records.

90034 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$1,999,000

Median List Price/Sq.Ft.

$932

Median Sold Price

$2,079,000

Median Sold Price/Sq.Ft.

$899

Total Inventory

Median Sale to List Price %

100%

Avg Days on Market

Loan Type

Conventional (0%), FHA (0%), VA (5.88%), Cash (5.88%), Other (11.76%)

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(714) 706-1823

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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.