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4050 8th Ave Los Angeles, CA 90008

$1,115,000 Sold Price as of 07/19/2019

5 Beds
5 Baths
4,992 Sq.Ft.

Sold

$1,115,000 Sold Price as of 07/19/2019 Refinance Your Mortgage

Map preview of 4050 8th Ave, Los Angeles, CA 90008

Property Overview: 4050 8th Ave Los Angeles, CA has 5 bedrooms, 5 bathrooms, 4,992 living square feet and 4,664 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Attractive and well maintained 5 unit building in Leimert Park. Each unit is a spacious sized 1 bedroom and 1 bath with hardwood and tile floors. The building includes a 4 car garage equipped with electric openers. All units with the exception of 1 are currently occupied. Amazing investment opportunity with huge upside potential in rent. Do not disturb occupants.

Listed by Kai Ito | BRE #01408887 | Berkshire Hathaway HomeServices California Properties
Co-listed by Cameron Matsukuma | BRE #01882465 | Cameron Aya Matsukuma

Last checked: 15 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 12

Home details

Lot Sq. Ft: 4,664
HOA Dues: $0/mo
Year built: 1951
Garage: 4 Car
Property Type:: Multi Family

Status: Sold
MLS#: SB19135558
City: Los Angeles
County: Los Angeles
Time on Site: 1263 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 5
Total # of Buildings: 1
# of Leased Units: 4
# of Electric Meters: 5
# of Gas Meters: 5
# of Water Meters: 1

Unit Breakdown 1

# of Units: 1
# of Beds: 1
# of Baths: 1
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,488
Total Rent: $1,488
Pro Forma/Market Rent: $1,650

Unit Breakdown 2

# of Units: 1
# of Beds: 1
# of Baths: 1
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,411
Total Rent: $1,411
Pro Forma/Market Rent: $1,650

Unit Breakdown 3

# of Units: 1
# of Beds: 1
# of Baths: 1
Garage Spaces: 1
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,210
Total Rent: $1,210
Pro Forma/Market Rent: $1,650

Unit Breakdown 4

# of Units: 1
# of Beds: 1
# of Baths: 1
Garage Spaces: 2
Garaged Attached? No
Furnishing: Unfurnished
Total Rent: $0
Pro Forma/Market Rent: $1,650

Unit Breakdown 5

# of Units: 1
# of Beds: 1
# of Baths: 1
Garage Spaces: 1
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,287
Total Rent: $1,287
Pro Forma/Market Rent: $1,650

Multi-Family Income/Expense Information

Property Income and Analysis

Gross Rent Multiplier: --
Gross Scheduled Income: $84,552
Net Operating Income: $58,466
Gross Operating Income: --

Annual Expense Breakdown

Total Operating Expense: $26,086
Electric: $600
Licenses: $399
New Taxes: $15,000
Trash: $0
Gardener: $720
Insurance: $3,317
Professional Management: $4,050
Water/Sewer: $1,650

Property Details for 4050 8th Ave

Interior Features

Heating Information

Has Heating
Wall Furnace

Laundry Information

Has Laundry
Inside

Exterior Features

No Pool
Pool Features: None

Lot Details / Garage and Parking

Parking/Garage Information

# of Garage Spaces: 4
# of Parking Spaces: 4

Lot Information

Lot Features: Corner Lot
Lot Size Source: Assessor

Property Information

Common Walls: 1 Common Wall
Total # of Units: 5
Parcel Number: 5023002007
Year Built Source: Assessor
Property is Attached

Homeowners Association, Utilities, Taxes / Assessments

Utilities Information

Sewer: Public Sewer
Water Source: Public

Location / Neighborhood

Location Information

Directions: Martin Luther King Jr. Blvd + 8th Ave.

Neighborhood Information

Community Features: Curbs, Sidewalks

View more facts & features

Local Los Angeles Agent

Sale History for 4050 8th Ave

Last sold for $1,115,000 on July 19th, 2019

July, 2019
Jul 20, 2019

Date

Sold

CRMLS: SB19135558

$1,115,000

Price
Jun 27, 2019

Date

Pending

CRMLS: SB19135558

$1,200,000

Price
Jun 14, 2019

Date

Active

CRMLS: SB19135558

$1,200,000

Price
July, 2019
Jul 19, 2019

Date

Sold (Public Records)

Public Records

$1,115,000

Price
September, 2002
Sep 25, 2002

Date

Sold (Public Records)

Public Records

$345,000

Price

Tax History for 4050 8th Ave

Assessed Value (2020): $1,115,000

Year	Land Value	Improved Value	Assessed Value
2020	$1,000,000	$115,000	$1,115,000

Home Value Compared to the Market

This property vs the competition

4050 8th Ave sold on July 19, 2019 for 6.19% higher than the current median sold price for the city of Los Angeles which is $1,130,000. The median sold price per/sqft for Los Angeles is $754 and this home is sold at $240.38 per/sqft which puts the price per square foot 68.12% lower than the current median sale per square foot for the city of Los Angeles.

About 4050 8th Ave

Detailed summary of property

4050 8th Ave is a multi family that recently sold in Los Angeles, CA 90008. This multi family property offered 5 bedrooms, 5 bathrooms, roughly 4,992 living square feet, and sits on an approximately 4,664 square foot lot. 4050 8th Ave was first listed on ArdentRealEstateGroup.com on January 13, 2021. The homeowner sold the property for $1,115,000. Home in Los Angeles are selling for a median price of $1,130,000 and a median price per square foot of $754. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 6.19% higher than the current median priced home. Local homes that are currently for sale include 3018 W Slauson Ave, 3945 Denker Ave and 4100 Denker Ave. While the average home in Los Angeles, CA is selling in 99 days, 4050 8th Ave has a days on market of 12 days. There are currently 3982 homes for sale in the Los Angeles real estate market and 2673 of them are single family homes while 1195 of them are condos and 107 are townhomes. For more information on this home for sale at 4050 8th Ave Los Angeles, CA 90008 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 4050 8th Ave

Public county record property details

Beds: 5
Baths: 5
Year built: 1951
Sq. Ft.: 4,992
Lot Size: 4,664
Stories: --

Type: Apartment House (5+ Units)
Pool: No
Spa: No
County: Los Angeles
Lot#: 582,583
APN: 5023-002-007

The source for these homes facts are from public records.

90008 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$1,349,000

Median List Price/Sq.Ft.

$688

Median Sold Price

$1,120,000

Median Sold Price/Sq.Ft.

$724

Total Inventory

Median Sale to List Price %

112.56%

Avg Days on Market

Loan Type

Conventional (12.5%), FHA (0%), VA (0%), Cash (12.5%), 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.