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4080 Redwood Ave #7, Los Angeles, CA 90066
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4080 Redwood Ave #7 Los Angeles, CA 90066

$8,305,000 Sold Price as of 12/30/2019
  • 37 Beds
  • 29 Baths
  • -- Sq.Ft.
Sold
$8,305,000 Sold Price as of 12/30/2019 Refinance Your Mortgage
Map preview of 4080 Redwood Ave #7, Los Angeles, CA 90066

Property Overview: 4080 Redwood Ave #7 Los Angeles, CA has 37 bedrooms, 29 bathrooms, -- living square feet and -- square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Rare and unique Inverstment opportunity to invest 3 contiguous apartment buildings. Keep as a cash flow investment or continue with the re-development process. Re-Development plans are designed for a 40 unit apartment, gym and common areas along with 60 subterranean parking spaces. Currently zoning is R3-1,however, the re-development is being approved under SB 1818 allowing an increase of density. The Current combined buildings consist of 17,088 and lot size is 23,823. 6 studios, 8 1+1 13 2+1 and 1 3+2 units. Located minutes from Silicon Beach home of top tech companies, world class restaurants and shopping all with walking distance

Listed by Patricia Clack | BRE #01147734 | New Home Sales & Marketing Inc
Last checked: 5 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 91

Home details

Lot Sq. Ft
--
HOA Dues
$0/mo
Year built
1958
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
19498994
City
Los Angeles
County
Los Angeles
Time on Site
1201 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 28
  • Total # of Buildings: 3
  • # of Leased Units: 28
  • # of Electric Meters: 28
  • # of Gas Meters: 28
Unit Breakdown 1
  • # of Units: 6
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $7,377
  • Total Rent: $7,377
  • Pro Forma/Market Rent: $11,100
Unit Breakdown 2
  • # of Units: 8
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $11,008
  • Total Rent: $11,008
  • Pro Forma/Market Rent: $15,600
Unit Breakdown 3
  • # of Units: 13
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $21,702
  • Total Rent: $21,702
  • Pro Forma/Market Rent: $31,850
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $3,000
  • Total Rent: $3,000
  • Pro Forma/Market Rent: $3,000
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 19.82
  • Gross Scheduled Income: --
  • Net Operating Income: $304,753
  • Gross Operating Income: $517,044
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 4080 Redwood Ave #7

Interior Features
Cooling Information
  • Has Cooling
  • Wall/Window Unit(s)
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • Community
Lot Details / Garage and Parking
Parking/Garage Information
  • Has Parking
  • Parking Features: Assigned
Lot Information
  • Lot Size Source: Appraiser
Property Information
  • No View
  • View: None
  • Total # of Units: 28
  • Parcel Number: 4230009020
Location / Neighborhood
Location Information
  • Directions: South of Washington Blvd East of Lincoln
View more facts & features

Local Los Angeles Agent

Sale History for 4080 Redwood Ave #7

Last sold for $8,305,000 on December 30th, 2019

  • December, 2019

  • Dec 31, 2019

    Date

    Sold

    CRMLS: 19498994

    $8,305,000

    Price

  • Dec 9, 2019

    Date

    Pending

    CRMLS: 19498994

    $9,500,000

    Price

  • Nov 12, 2019

    Date

    Active Under Contract

    CRMLS: 19498994

    $9,500,000

    Price

  • Oct 23, 2019

    Date

    Price Change

    CRMLS: 19498994

    $9,500,000

    Price

  • Aug 13, 2019

    Date

    Active

    CRMLS: 19498994

    $10,250,000

    Price

  • December, 2019

  • Dec 30, 2019

    Date

    Sold (Public Records)

    Public Records

    $8,305,000

    Price

  • December, 2018

  • Dec 17, 2018

    Date

    Expired

    CRMLS: 18344456

    $10,595,000

    Price

  • Oct 22, 2018

    Date

    Active

    CRMLS: 18344456

    $10,595,000

    Price

  • Oct 4, 2018

    Date

    Active Under Contract

    CRMLS: 18344456

    $10,595,000

    Price

  • Aug 29, 2018

    Date

    Price Change

    CRMLS: 18344456

    $10,595,000

    Price

  • Jul 20, 2018

    Date

    Price Change

    CRMLS: 18344456

    $10,995,000

    Price

  • May 16, 2018

    Date

    Active

    CRMLS: 18344456

    $11,250,000

    Price

  • Listing provided courtesy of CRMLS

    Price reduced. 3 Contiguous lots being offered with 28 units combined as a development opportunity in prime Silicon Beach and Del Rey art district. 23,846 sq ft combined lot size situated in the midst of some of the largest developments underway in Los Angeles. Potential to build a large apartment complex or condo's in one of the most sought-after area's close to Playa Vista, Marina Del Rey and Venice Beach. This asset is currently comprised of 29 unit rental property with a mix of 7 studios, 8 (1+1) 13 (2+1) and 1 x 3 bd unit and 34 parking spaces. Rent raises are due in November and a current total GI of $504,564 annually still making this a financeable property in its current use. Historically a low vacancy area with high demand for rental units. Google, Snapchat, Yahoo, and Tesla to name a few of the surrounding companies calling Silicon beach their home along with new developments underway with movie theaters, world class Restaurants and shopping within walking distance.

  • May, 2005

  • May 27, 2005

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 4080 Redwood Ave #7

Assessed Value (2020): $3,403,800
Year Land Value Improved Value Assessed Value
2020 $2,550,000 $853,800 $3,403,800

Home Value Compared to the Market

This property vs the competition

4080 Redwood Ave #7 sold on December 30, 2019 for 804.76% higher than the current median sold price for the city of Los Angeles which is $1,050,000.

About 4080 Redwood Ave #7

Detailed summary of property

4080 Redwood Ave #7 is a multi family that recently sold in Los Angeles, CA 90066. This multi family property offered 37 bedrooms, 29 bathrooms, roughly -- living square feet, and sits on an approximately -- square foot lot. 4080 Redwood Ave #7 was first listed on ArdentRealEstateGroup.com on January 13, 2021. The homeowner sold the property for $8,305,000. Home in Los Angeles are selling for a median price of $1,050,000 and a median price per square foot of $738. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 804.76% higher than the current median priced home. Local homes that are currently for sale include 2041 N Vermont Ave, 1615 Park Ave and 155 S Oak Knoll Ave. While the average home in Los Angeles, CA is selling in 97 days, 4080 Redwood Ave #7 has a days on market of 91 days. There are currently 3429 homes for sale in the Los Angeles real estate market and 2324 of them are single family homes while 1008 of them are condos and 91 are townhomes. For more information on this home for sale at 4080 Redwood Ave #7 Los Angeles, CA 90066 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 4080 Redwood Ave #7

Public county record property details
Beds
13
Baths
10
Year built
1958
Sq. Ft.
5,306
Lot Size
7,948
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
34
APN
4230-009-020

The source for these homes facts are from public records.

90066 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$2,100,000
Median List Price/Sq.Ft.
$1,002
Median Sold Price
$1,925,000
Median Sold Price/Sq.Ft.
$1,050
Total Inventory
112
Median Sale to List Price %
104.05%
Avg Days on Market
27
Loan Type
Conventional (17.39%), FHA (0%), VA (0%), Cash (0%), Other (13.04%)

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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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