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3960 W 8Th St, Los Angeles, CA 90005
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3960 W 8Th St Los Angeles, CA 90005

$2,540,000 Sold Price as of 03/02/2021
  • 10 Beds
  • 10 Baths
  • 7,728 Sq.Ft.
Sold
$2,540,000 Sold Price as of 03/02/2021 Refinance Your Mortgage
Map preview of 3960 W 8Th St, Los Angeles, CA 90005

Property Overview: 3960 W 8Th St Los Angeles, CA has 10 bedrooms, 10 bathrooms, 7,728 living square feet and 7,195 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Terrific 10 unit investment opportunity adjacent to Hancock Park and Koreatown. The property features spacious units with a strong unit mix of 2 (2+2), 6 (1+1) and 2 (Studios). 4 of the units have been extensively renovated with high-end finishes. The property is separately metered for electricity and gas and features on-site laundry facilities. There are 7 individual garages, 3 surface spaces and extra parking spaces in front of 4 of the garages. There is currently one vacant renovated unit. The soft story retrofit work has been completed. The property is conveniently located in a prime location near entertainment, shopping, hotels and restaurants along with local transportation.

Listed by Carolyn Schneider | BRE #00881530 | Miller & Desatnik Realty Co.
Last checked: 2 minutes ago | Last updated: July 26th, 2022 | Source CRMLS | DOM: 42

Home details

Lot Sq. Ft
7,195
HOA Dues
$0/mo
Year built
1956
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
20671682
City
Los Angeles
County
Los Angeles
Time on Site
1213 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 10
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $3,114
  • Total Rent: $3,114
  • Pro Forma/Market Rent: $3,250
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $856
  • Total Rent: $856
  • Pro Forma/Market Rent: $1,995
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $968
  • Total Rent: $968
  • Pro Forma/Market Rent: $1,995
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $954
  • Total Rent: $954
  • Pro Forma/Market Rent: $1,995
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $707
  • Total Rent: $707
  • Pro Forma/Market Rent: $1,400
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $892
  • Total Rent: $892
  • Pro Forma/Market Rent: $1,995
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,450
  • Total Rent: $2,450
  • Pro Forma/Market Rent: $3,250
Unit Breakdown 8
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,995
  • Total Rent: $1,995
  • Pro Forma/Market Rent: $1,995
Unit Breakdown 9
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,750
  • Total Rent: $1,750
  • Pro Forma/Market Rent: $1,995
Unit Breakdown 10
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $738
  • Total Rent: $738
  • Pro Forma/Market Rent: $1,400
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 15.1
  • Gross Scheduled Income: --
  • Net Operating Income: $99,676
  • Gross Operating Income: $172,363
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 3960 W 8Th St

Interior Features
Cooling Information
  • Has Cooling
  • Wall/Window Unit(s)
Kitchen Information
  • Has Appliances
  • Disposal
Lot Details / Garage and Parking
Parking/Garage Information
  • Has Parking
  • Parking Features: Uncovered
Lot Information
  • Lot Size Source: Assessor
Property Information
  • No View
  • View: None
  • Total # of Units: 10
  • Parcel Number: 5092026001
  • Architectural Style: Mid Century Modern
Location / Neighborhood
Location Information
  • Directions: South of Wilshire Blvd., East of Wilton Pl., North of Olympic Blvd.
View more facts & features

Local Los Angeles Agent

Sale History for 3960 W 8Th St

Last sold for $2,540,000 on March 2nd, 2021

  • July, 2022

  • Jul 19, 2022

    Date

    Expired

    CRMLS: 22165213

    $2,979,000

    Price

  • Jun 7, 2022

    Date

    Active

    CRMLS: 22165213

    $2,979,000

    Price

  • Listing provided courtesy of CRMLS

    The location...The highly-coveted Koreatown investment market...close to "best LA has to offer". Hancock Park to the North; The Grove, The Farmer's Market and Beverly Center to the West: and to the East the heart of Koreatown and Downtown LA. And the Wilshire/Western Light Rail Station is easily "walkable". Four of the 10 units have been extensively remodeled with Shaker cabinetry and vanities, new appliances, custom tile showers & new wood flooring. That being said, there's massive "meat-on-the-bone" still with almost 50% rent upside on proforma rents. The unit mix is diverse: six 1/1s, two 2/1s and two Studios. Current Gross Income is $14,635/month; Proforma Income of over $21K/month. 7,728 sq. feet on a 7,150 sq. foot corner lot (R3). 14 parking spots in total. The seismic retrofit aka "soft story" has been completed.

  • September, 2021

  • Sep 6, 2021

    Date

    Withdrawn

    CRMLS: 21728058

    $2,899,000

    Price

  • Jul 13, 2021

    Date

    Price Change

    CRMLS: 21728058

    $2,899,000

    Price

  • May 5, 2021

    Date

    Active

    CRMLS: 21728058

    $2,799,000

    Price

  • Listing provided courtesy of CRMLS

    Well maintained investment building in Heart of K-Town. Very spacious size unit and 4 of the units have been renovated with high-end finishes. The property is separately metered for electricity, gas and on-site laundry facilities. There are12 parking spaces. The soft story retrofit work has been completed.

  • July, 2021

  • Jul 3, 2021

    Date

    Canceled

    CRMLS: PW21070717

    $1,850

    Price

  • May 6, 2021

    Date

    Price Change

    CRMLS: PW21070717

    $1,850

    Price

  • May 1, 2021

    Date

    Price Change

    CRMLS: PW21070717

    $1,650

    Price

  • Apr 27, 2021

    Date

    Price Change

    CRMLS: PW21070717

    $1,750

    Price

  • Apr 13, 2021

    Date

    Price Change

    CRMLS: PW21070717

    $1,850

    Price

  • Apr 5, 2021

    Date

    Active

    CRMLS: PW21070717

    $1,700

    Price

  • Listing provided courtesy of CRMLS

    Located in the west part of Korea town. It has one bed,one bath and small den with 1 parking.

  • March, 2021

  • Mar 3, 2021

    Date

    Sold

    CRMLS: 20671682

    $2,540,000

    Price

  • Feb 9, 2021

    Date

    Pending

    CRMLS: 20671682

    $2,695,000

    Price

  • Feb 1, 2021

    Date

    Active Under Contract

    CRMLS: 20671682

    $2,695,000

    Price

  • Dec 17, 2020

    Date

    Active

    CRMLS: 20671682

    $2,695,000

    Price

  • March, 2021

  • Mar 2, 2021

    Date

    Sold (Public Records)

    Public Records

    $2,540,000

    Price

  • February, 2020

  • Feb 29, 2020

    Date

    Leased

    CRMLS: 20557658

    $2,350

    Price

  • Feb 25, 2020

    Date

    Active

    CRMLS: 20557658

    $2,350

    Price

  • Listing provided courtesy of CRMLS

    Newly remodeled 2 bed, 1 bath near Korea town, Hancock Park adjacent. The kitchen and bathroom have been completely remodeled, with hardwood floors throughout the unit. It comes with 1 parking space. Quick access to downtown and miracle mile. You are minutes to lacma, the tarpits and all the brand new stores wilshire has to offer. Please ask about pets.

  • April, 2019

  • Apr 23, 2019

    Date

    Sold

    CRMLS: 19449898

    $2,580,000

    Price

  • Apr 18, 2019

    Date

    Active Under Contract

    CRMLS: 19449898

    $2,600,000

    Price

  • Apr 1, 2019

    Date

    Active

    CRMLS: 19449898

    $2,600,000

    Price

  • Listing provided courtesy of CRMLS

    3960 W. 8th St is a well-maintained 10-unit value-add investment opportunity located in Koreatown, a highly desirable submarket of Los Angeles. The property features spacious units with a strong unit-mix of 2 (2+2), 6 (1+1) and 2 (Studios). 3 of the 10 units have been extensively renovated with high-end finishes and one unit will be delivered vacant for buyer. Through a complete interior renovation program, an investor will have the opportunity to capitalize on the tremendous rental upside. The Property has a brand new water heater, is separately metered for electricity and features on-site laundry facilities. There are 7 individual parking garages, 3 surface spaces, and extra parking spaces in front of 4 of the garages, offering additional income. Exterior upgrades include new drought resistant landscaping and new exterior paint. The Property is conveniently located in an amenity rich location, near entertainment, shopping, hotels, and restaurants along with local transportation.

  • April, 2019

  • Apr 22, 2019

    Date

    Sold (Public Records)

    Public Records

    $2,580,000

    Price

Show More

Tax History for 3960 W 8Th St

Assessed Value (2020): $2,633,400
Year Land Value Improved Value Assessed Value
2020 $1,973,700 $659,700 $2,633,400

Home Value Compared to the Market

This property vs the competition

3960 W 8Th St sold on March 2, 2021 for 126.47% 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 $348.73 per/sqft which puts the price per square foot 53.81% lower than the current median sale per square foot for the city of Los Angeles.

About 3960 W 8Th St

Detailed summary of property

3960 W 8Th St is a multi family that recently sold in Los Angeles, CA 90005. This multi family property offered 10 bedrooms, 10 bathrooms, roughly 7,728 living square feet, and sits on an approximately 7,195 square foot lot. 3960 W 8Th St was first listed on ArdentRealEstateGroup.com on January 20, 2021. The homeowner sold the property for $2,540,000. 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 126.47% higher than the current median priced home. Local homes that are currently for sale include 1139 S Kingsley Dr, 1145 S Kingsley Dr and 3106 San Marino St. While the average home in Los Angeles, CA is selling in 92 days, 3960 W 8Th St has a days on market of 42 days. There are currently 3712 homes for sale in the Los Angeles real estate market and 2493 of them are single family homes while 1120 of them are condos and 93 are townhomes. For more information on this home for sale at 3960 W 8Th St Los Angeles, CA 90005 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 3960 W 8Th St

Public county record property details
Beds
10
Baths
10
Year built
1956
Sq. Ft.
7,728
Lot Size
7,195
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
1
APN
5092-026-001

The source for these homes facts are from public records.

90005 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$835,000
Median List Price/Sq.Ft.
$665
Median Sold Price
$720,000
Median Sold Price/Sq.Ft.
$621
Total Inventory
35
Median Sale to List Price %
100.14%
Avg Days on Market
62
Loan Type
Conventional (0%), FHA (0%), VA (0%), Cash (16.67%), Other (0%)

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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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