447 S Rampart Blvd, Los Angeles, CA 90057

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447 S Rampart Blvd Los Angeles, CA 90057

$7,150,000 Sold Price as of 04/15/2022

12 Beds
49 Baths
23,072 Sq.Ft.

Sold

$7,150,000 Sold Price as of 04/15/2022 Refinance Your Mortgage

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Map preview of 447 S Rampart Blvd, Los Angeles, CA 90057

Property Overview: 447 S Rampart Blvd Los Angeles, CA has 12 bedrooms, 49 bathrooms, 23,072 living square feet and 8,412 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Gorgeous 4 story building in Rampart Village area of Los Angeles bordering Koreatown/ Downtown/ and Silverlake. This is a fantastic rental area that is recession proof as affordable studio apartments near transportation hubs are very desirable.This building is professionally managed and has a great on site manager. Building has been updated with new copper plumbing and waste lines, exterior and interior paint, flooring, lighting. Updated lobby and entrance doors have beenupdated to contemporary style with code entry. Units that became vacant have been thoroughly updated with new kitchens baths flooring and lighting. 12 units have been updated leaving a huge upside in rents available for the next owner. Just the next annual rental increase jumps the income up by $2,000 a month ! On site Landry is avaible as well as a small parking lot for 15 cars in the rear of the building.Possibility to sell this with 18 unit building next door totaling 67 units.

Listed by Alex Galuz | BRE #01291486 | Keller Williams Realty Calabasas

Last checked: 11 minutes ago | Last updated: April 18th, 2022 | Source CRMLS | DOM: 173

Home details

Lot Sq. Ft: 8,412
HOA Dues: $0/mo
Year built: 1924
Garage: --
Property Type:: Multi Family

Status: Sold
MLS#: 21725028
City: Los Angeles
County: Los Angeles
Time on Site: 1145 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 49
Total # of Buildings: 1

Unit Breakdown 1

# of Units: 37
# of Beds: 0
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $950
Total Rent: $35,150
Pro Forma/Market Rent: $1,350

Unit Breakdown 2

# of Units: 12
# of Beds: 1
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,200
Total Rent: $14,650
Pro Forma/Market Rent: $1,500

Multi-Family Income/Expense Information

Property Income and Analysis

Gross Rent Multiplier: 12.1
Gross Scheduled Income: --
Net Operating Income: $341,000
Gross Operating Income: $583,000

Annual Expense Breakdown

Total Operating Expense: --

Property Details for 447 S Rampart Blvd

Interior Features

Cooling Information

Has Cooling
Wall/Window Unit(s)

Lot Details / Garage and Parking

Parking/Garage Information

# of Parking Spaces: 15
Has Parking
Parking Features: Auto Driveway Gate

Property Information

Total # of Units: 49
Parcel Number: 5155020006

Location / Neighborhood

Location Information

Directions: South of Beverly and North of Wilshire. East of Vermont and West of Alvarado.

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Local Los Angeles Agent

Sale History for 447 S Rampart Blvd

Last sold for $7,150,000 on April 15th, 2022

September, 2021
Sep 3, 2021

Date

Price Change

CRMLS: 21725028

$7,475,000

Price
Aug 10, 2021

Date

Price Change

CRMLS: 21725028

$7,775,000

Price
Apr 28, 2021

Date

Active

CRMLS: 21725028

$7,800,000

Price
February, 2019
Feb 6, 2019

Date

Sold

CRMLS: 18346966

$6,396,000

Price
Nov 29, 2018

Date

Pending

CRMLS: 18346966

$6,395,000

Price
Oct 20, 2018

Date

Price Change

CRMLS: 18346966

$6,395,000

Price
Aug 31, 2018

Date

Price Change

CRMLS: 18346966

$6,650,000

Price
Jun 7, 2018

Date

Active

CRMLS: 18346966

$7,050,000

Price
Listing provided courtesy of CRMLS

This property is being offered together/simultaneously with the contiguous street level parking lot and 18-unit building located at 450 S Benton Way, also listed by Listing Agent. 447 S Rampart Boulevard is a 5-story, 48-unit New York style, 1920s brick apartment building located in the heart the Westlake neighborhood, one of the hottest submarkets in Los Angeles. This extremely well-maintained/manages asset is made up of 37 singles(0+1), 4 singles + office (0+1+Office), 6 one-bedroom, one-bathroom (1+1) units, and a unique 2-story single + large downstairs space apartment. The building features on-site laundry, a security camera monitoring system, and is master metered for gas (separately studded) & electric. There is also an adjacent on-site parking lot with 15 surface parking spaces.

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February, 2019
Feb 5, 2019

Date

Sold (Public Records)

Public Records

$6,396,000

Price
November, 2018
Nov 13, 2018

Date

Sold (Public Records)

Public Records

--

Price

Tax History for 447 S Rampart Blvd

Assessed Value (2020): $6,533,470

Year	Land Value	Improved Value	Assessed Value
2020	$5,273,400	$1,260,070	$6,533,470

Home Value Compared to the Market

This property vs the competition

447 S Rampart Blvd sold on April 15, 2022 for 561.5% 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 $323.99 per/sqft which puts the price per square foot 57.03% lower than the current median sale per square foot for the city of Los Angeles.

About 447 S Rampart Blvd

Detailed summary of property

447 S Rampart Blvd is a multi family that recently sold in Los Angeles, CA 90057. This multi family property offered 12 bedrooms, 49 bathrooms, roughly 23,072 living square feet, and sits on an approximately 8,412 square foot lot. 447 S Rampart Blvd was first listed on ArdentRealEstateGroup.com on May 13, 2021. The homeowner sold the property for $7,150,000. 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 561.5% higher than the current median priced home. Local homes that are currently for sale include 1439 N Curson Ave, 7815 Melrose Ave and 1445 N Avenue 47. While the average home in Los Angeles, CA is selling in 99 days, 447 S Rampart Blvd has a days on market of 173 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 447 S Rampart Blvd Los Angeles, CA 90057 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 447 S Rampart Blvd

Public county record property details

Beds: --
Baths: --
Year built: 1924
Sq. Ft.: 23,072
Lot Size: 8,411
Stories: --

Type: Apartment House (5+ Units)
Pool: No
Spa: No
County: Los Angeles
Lot#: 100
APN: 5155-020-006

The source for these homes facts are from public records.

90057 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$590,000

Median List Price/Sq.Ft.

$542

Median Sold Price

$525,000

Median Sold Price/Sq.Ft.

$630

Total Inventory

Median Sale to List Price %

110.53%

Avg Days on Market

Loan Type

Conventional (0%), FHA (0%), VA (0%), Cash (33.33%), Other (0%)

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Homes for Sale Near 447 S Rampart Blvd

Nearby Homes for Sale

676 S Rampart Blvd, Los Angeles, CA 90057

Recently Sold Homes Near 447 S Rampart Blvd

425 S Rampart Blvd, Los Angeles, CA 90057

$1,615,000 Last Sold Price

12 Beds

10 Baths

9260 Sq.Ft.

425 S Rampart Blvd
Los Angeles, CA 90057

$2,995,000 Last Sold Price

0 Beds

16 Baths

8772 Sq.Ft.

450 S Benton Way
Los Angeles, CA 90057

$1,325,000 Last Sold Price

4 Beds

3 Baths

2080 Sq.Ft.

352 S Benton Way
Los Angeles, CA 90057

$850,000 Last Sold Price

0 Beds

7 Baths

2673 Sq.Ft.

2607 W 4Th St
Los Angeles, CA 90057

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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.