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508 N Ardmore Ave, Los Angeles, CA 90004
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508 N Ardmore Ave Los Angeles, CA 90004

$1,750,000
  • 11 Beds
  • 6 Baths
  • 4,103 Sq.Ft.
For Sale
$1,750,000 Get Pre-Qualified
Map preview of 508 N Ardmore Ave, Los Angeles, CA 90004

Property Overview: 508 N Ardmore Ave Los Angeles, CA has 11 bedrooms, 6 bathrooms, 4,103 living square feet and 8,250 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: We are pleased to present for sale this true Value-add investment opportunity located in the East Hollywood, Koreatown area of Los Angeles. 508 North Ardmore Avenue consists of one three (3) Bedroom, Two (2) Bath plus Den Single Family Residence along with four 2 Bedrooms, 1 Bathroom units. The 4 units were built in 1987 and appear to be Non-Rent Controlled apartments under Los Angeles City rent control. The Three Bedroom House has been remodeled and has a private yard and partial copper plumbing. There are 5 parking spaces, on-site laundry, individual hot water heaters, Central Heating and Air Conditioning and Security Camera System in place. Plenty of rental upside. Two units are currently vacant. Building square feet is approximately 4,103 and sits on a lot size of approximately 8,250 square feet of land. Zoned as LAR3. The subject property is in close proximity to Downtown Los Angeles, Hollywood, Silver Lake, Echo Park and Korea town and conveniently located near the 101 Freeway.

Listed by Salar Farshchi Tabrizi | BRE #02095885 | Equity Union
Last checked: 4 minutes ago | Last updated: April 23rd, 2024 | Source CRMLS | DOM: 9
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Home details

Lot Sq. Ft
8,250
HOA Dues
$0/mo
Year built
1916
Garage
--
Property Type:
Mixed Use
Status
Active
MLS#
SR24080810
City
Los Angeles
County
Los Angeles
Time on Site
10 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 5
  • Total # of Buildings: 1
  • # of Electric Meters: 5
  • # of Gas Meters: 5
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,103
  • Total Rent: $1,103
  • Pro Forma/Market Rent: $2,500
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,140
  • Total Rent: $2,140
  • Pro Forma/Market Rent: $2,500
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Furnished
  • Total Rent: $2,000
  • Pro Forma/Market Rent: $2,500
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Furnished
  • Total Rent: $2,000
  • Pro Forma/Market Rent: $2,500
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $4,066
  • Total Rent: $4,066
  • Pro Forma/Market Rent: $4,200
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 13.14
  • Gross Scheduled Income: $0
  • Net Operating Income: $99,979
  • Gross Operating Income: $133,089
Annual Expense Breakdown
  • Total Operating Expense: $0
  • Trash: $0
  • Insurance: $0
  • Professional Management: $0
  • Water/Sewer: $0

Open Houses for 508 N Ardmore Ave

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Property Details for 508 N Ardmore Ave

Interior Features
Heating Information
  • Has Heating
  • Central
Laundry Information
  • Has Laundry
  • Common Area
Interior Features
  • Levels: One
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 5
Lot Information
  • Lot Features: 2-5 Units/Acre, Lot 6500-9999
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 5
  • Parcel Number: 5520012015
  • Year Built Source: Public Records
  • Entry Level: 1
  • Property is not Attached
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: Take exit 6B toward Melrose Ave/Normandie Ave on US-101 S. Continue onto N Ardmore Ave
Neighborhood Information
  • Community Features: Sidewalks
View more facts & features

Local Los Angeles Agent

Sale History for 508 N Ardmore Ave

Last sold for $1,690,000 on November 19th, 2019

  • April, 2024

  • Apr 23, 2024

    Date

    Active

    CRMLS: SR24080810

    $1,750,000

    Price

  • November, 2023

  • Nov 21, 2023

    Date

    Expired

    CRMLS: 23330787

    $1,899,000

    Price

  • Nov 9, 2023

    Date

    Active

    CRMLS: 23330787

    $1,899,000

    Price

  • Listing provided courtesy of CRMLS

    Located 1.5 Miles from Larchmont & 3.5 Miles from Downtown Los Angeles -Close Proximity to Dining, Retail Shopping, & Entertainment of Koreatown & Hollywood -Outstanding Unit Mix of Three-Bedroom Plus Den House & Two-Bedroom Units -Four of the Units Were Built in 1987 -Large 8,247-Square Foot Lot Zoned R3 - Presents Redevelopment Opportunity -Convenient Access to Metro Stations & Freeways - Immediate Transit to Employment Hubs of Los Angeles & Downtown -Fully Remodeled Three-Bedroom Plus Den House with Private Front Yard -Partial Copper Plumbing, Eight Parking Spaces, On-Site Laundry Facility, & Security Camera System -Four of the Five Units Have Been Remodeled -Over 20% in Rental Upside -Current Cap Rate of 5.00% & Current GRM of 13.99 -Pro-Forma Cap Rate of 7.00% & Pro-Forma GRM of 10.35

  • January, 2020

  • Jan 28, 2020

    Date

    Canceled

    CRMLS: 19537908

    $2,000

    Price

  • Jan 14, 2020

    Date

    Active

    CRMLS: 19537908

    $2,000

    Price

  • Jan 4, 2020

    Date

    Hold

    CRMLS: 19537908

    $2,000

    Price

  • Dec 20, 2019

    Date

    Active

    CRMLS: 19537908

    $2,000

    Price

  • Listing provided courtesy of CRMLS

    Well maintained and recently Remodeled 2 Bedroom, 1 Full Bathroom with 1 Car parking space. Centrally located between DTLA & Hollywood. Close Proximity to Dining, Retail Shopping, & Entertainment of Koreatown & Hollywood. Two-Bedroom Units Built in 1987 Convenient Access to Metro Stations & 101 Freeways - Immediate Transit to Employment Hubs of Los Angeles & Downtown. On-Site Laundry Facility, & Security Camera System

  • December, 2019

  • Dec 20, 2019

    Date

    Canceled

    CRMLS: 19533220

    $2,300

    Price

  • Nov 28, 2019

    Date

    Active

    CRMLS: 19533220

    $2,300

    Price

  • Listing provided courtesy of CRMLS

    Well maintained and recently Remodeled 2 Bedroom, 1 Full Bathroom with 1 Car parking space. Centrally located between DTLA & Hollywood. Close Proximity to Dining, Retail Shopping, & Entertainment of Koreatown & Hollywood. Two-Bedroom Units Built in 1987 Convenient Access to Metro Stations & 101 Freeways - Immediate Transit to Employment Hubs of Los Angeles & Downtown. On-Site Laundry Facility, & Security Camera System

  • November, 2019

  • Nov 28, 2019

    Date

    Canceled

    CRMLS: 19531024

    $2,300

    Price

  • Nov 19, 2019

    Date

    Active

    CRMLS: 19531024

    $2,300

    Price

  • Listing provided courtesy of CRMLS

    Well maintained and recently Remodeled 2 Bedroom, 1 Full Bathroom with 1 Car parking space. Centrally located between DTLA & Hollywood. Close Proximity to Dining, Retail Shopping, & Entertainment of Koreatown & Hollywood. Two-Bedroom Units Built in 1987 Convenient Access to Metro Stations & 101 Freeways - Immediate Transit to Employment Hubs of Los Angeles & Downtown. On-Site Laundry Facility, & Security Camera System

  • November, 2019

  • Nov 19, 2019

    Date

    Sold

    CRMLS: 19506092

    $1,690,000

    Price

  • Sep 18, 2019

    Date

    Active Under Contract

    CRMLS: 19506092

    $1,695,000

    Price

  • Sep 3, 2019

    Date

    Active

    CRMLS: 19506092

    $1,695,000

    Price

  • Listing provided courtesy of CRMLS

    -Located 1.5 Miles from Larchmont & 3.5 Miles from Downtown Los Angeles -Close Proximity to Dining, Retail Shopping, & Entertainment of Koreatown & Hollywood -Outstanding Unit Mix of Three-Bedroom Plus Den House & Two-Bedroom Units -Four of the Units Were Built in 1987 -Large 8,247-Square Foot Lot Zoned R3 - Presents Redevelopment Opportunity -Convenient Access to Metro Stations & Freeways - Immediate Transit to Employment Hubs of Los Angeles & Downtown -Fully Remodeled Three-Bedroom Plus Den House with Private Front Yard -Partial Copper Plumbing, Eight Parking Spaces, On-Site Laundry Facility, & Security Camera System -Four of the Five Units Have Been Remodeled -Over 22% in Rental Upside -Current Cap Rate of 5.50% & Current GRM of 12.69 -Pro-Forma Cap Rate of 7.19% & Pro-Forma GRM of 10.35

  • November, 2019

  • Nov 19, 2019

    Date

    Sold (Public Records)

    Public Records

    $1,690,000

    Price

  • August, 2019

  • Aug 27, 2019

    Date

    Canceled

    CRMLS: 19483586

    $1,795,000

    Price

  • Jul 25, 2019

    Date

    Price Change

    CRMLS: 19483586

    $1,795,000

    Price

  • Jun 29, 2019

    Date

    Active

    CRMLS: 19483586

    $1,895,000

    Price

  • Listing provided courtesy of CRMLS

    -$100,000 Price Reduction! -Located 1.5 Miles from Larchmont & 3.5 Miles from Downtown Los Angeles -Close Proximity to Dining, Retail Shopping, & Entertainment of Koreatown & Hollywood -Outstanding Unit Mix of Three-Bedroom Plus Den House & Two-Bedroom Units -Four of the Units Were Built in 1987 -Large 8,247-Square Foot Lot Zoned R3 - Presents Redevelopment Opportunity -Convenient Access to Metro Stations & Freeways - Immediate Transit to Employment Hubs of Los Angeles & Downtown -Fully Remodeled Three-Bedroom Plus Den House with Private Front Yard -Partial Copper Plumbing, Eight Parking Spaces, On-Site Laundry Facility, & Security Camera System -Four of the Five Units Have Been Remodeled -Over 23% in Rental Upside -Current Cap Rate of 5.10% & Current GRM of 13.49 -Pro-Forma Cap Rate of 6.72% & Pro-Forma GRM of 10.96

  • March, 2019

  • Mar 2, 2019

    Date

    Expired

    CRMLS: DW18281778

    $1,699,999

    Price

  • Feb 19, 2019

    Date

    Withdrawn

    CRMLS: DW18281778

    $1,699,999

    Price

  • Jan 16, 2019

    Date

    Price Change

    CRMLS: DW18281778

    $1,699,999

    Price

  • Dec 17, 2018

    Date

    Price Change

    CRMLS: DW18281778

    $1,780,000

    Price

  • Nov 29, 2018

    Date

    Active

    CRMLS: DW18281778

    $1,880,000

    Price

  • Listing provided courtesy of CRMLS

    Front house and 3 units have been fully remodeled from :flooring, windows, paint and kitchen cabinets . Minutes away from Korea town and Hollywood. 3 UNITS ARE CURRENTLY FURNISHED AND BEING RENTED OUT AS AIRBNB CALL AGENT FOR FURTHER INFORMATION

  • April, 2018

  • Apr 11, 2018

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • March, 2018

  • Mar 13, 2018

    Date

    Expired

    CRMLS: DW18009076

    $1,788,000

    Price

  • Feb 5, 2018

    Date

    Withdrawn

    CRMLS: DW18009076

    $1,788,000

    Price

  • Jan 20, 2018

    Date

    Price Change

    CRMLS: DW18009076

    $1,788,000

    Price

  • Jan 12, 2018

    Date

    Active

    CRMLS: DW18009076

    $1,988,000

    Price

  • Listing provided courtesy of CRMLS

    5 Gorgeous Units, 4 Will be Delivered Vacant . 5 bedroom 2 bath house (will be delivered Vacant) and 4 units in back were built in 1987 (4plex has been recently rehabbed ) 13.5 GRM , Lot also can used to add more units (please check with city for info )

  • November, 2017

  • Nov 28, 2017

    Date

    Expired

    CRMLS: 17265258

    $1,700,000

    Price

  • Aug 29, 2017

    Date

    Active

    CRMLS: 17265258

    $1,700,000

    Price

  • Listing provided courtesy of CRMLS

    Check this property out located in N of K-town and S of Hollywood!!!! This amazing 5 units property is perfect for Airbnb or 1031 Exchange. 3 units in the back can be delivered vacant. This property consists of a SFR - four beds and 1 bath in front and four 2 bed + 1 bath apartments in the back. Three of 2+1 units have been nicely remodeled and are achieving market rents with most of the utilities paid by the tenants. Strong cash flow with achievable upside in rents. Some copper plumbing. The First unit is the SFR - four beds and one bath. Submit your offer now!!!

  • September, 2017

  • Sep 21, 2017

    Date

    Expired

    CRMLS: 17253136

    $1,650,000

    Price

  • Aug 15, 2017

    Date

    Withdrawn

    CRMLS: 17253136

    $1,650,000

    Price

  • Jul 24, 2017

    Date

    Price Change

    CRMLS: 17253136

    $1,650,000

    Price

  • Jul 20, 2017

    Date

    Active

    CRMLS: 17253136

    $1,655,000

    Price

  • Listing provided courtesy of CRMLS

    Ardmore Village "AV" is a 5 unit apartment complex CENTRALLY located between Hollywood and Koreatown. The property features Four 2-Bedroom/1-Bathroom units, and a Front 4-Bedroom/2-Bathroom home. Three VACANT Two-Bedroom units have been tastefully renovated. The property presents investors the opportunity to increase rents, to significantly increase the property's value! AV features 8 PARKING spaces, on-site LAUNDRY & an 8,247 SF lot, zoned LA-R3 providing for redevelopment potential - ability to build 10 units by-right. CENTRALLY sandwiched between Koreatown & Hollywood, the property provides close proximity, and easy access to all neighborhoods in LA, including Downtown, Miracle Mile, Beverly Hills, etc. Due to its rapidly gentrifying location, rental upside, value-add potential & favorable zoning, the property is well positioned for Accelerated Appreciation and significant cashflow. Expenses are projections. Rents for VACANT units are projections.

  • September, 2017

  • Sep 13, 2017

    Date

    Expired

    CRMLS: 17243272

    $1,655,000

    Price

  • Jul 20, 2017

    Date

    Withdrawn

    CRMLS: 17243272

    $1,655,000

    Price

  • Jul 19, 2017

    Date

    Price Change

    CRMLS: 17243272

    $1,655,000

    Price

  • Jul 17, 2017

    Date

    Price Change

    CRMLS: 17243272

    $1,694,000

    Price

  • Jul 14, 2017

    Date

    Price Change

    CRMLS: 17243272

    $1,695,000

    Price

  • Jul 13, 2017

    Date

    Price Change

    CRMLS: 17243272

    $1,697,000

    Price

  • Jul 11, 2017

    Date

    Price Change

    CRMLS: 17243272

    $1,698,000

    Price

  • Jul 3, 2017

    Date

    Price Change

    CRMLS: 17243272

    $1,699,000

    Price

  • Jun 30, 2017

    Date

    Price Change

    CRMLS: 17243272

    $1,720,000

    Price

  • Jun 25, 2017

    Date

    Price Change

    CRMLS: 17243272

    $1,725,000

    Price

  • Jun 20, 2017

    Date

    Active

    CRMLS: 17243272

    $1,729,000

    Price

  • Listing provided courtesy of CRMLS

    Ardmore Village "AV" is a 5 unit apartment complex CENTRALLY located between Hollywood and Koreatown. The property features Four 2-Bedroom/1-Bathroom units, and a Front 4-Bedroom/2-Bathroom home. Three VACANT Two-Bedroom units have been tastefully renovated. The property presents investors the opportunity to increase rents, to significantly increase the property's value! AV features 8 PARKING spaces, on-site LAUNDRY & an 8,247 SF lot, zoned LA-R3 providing for redevelopment potential - ability to build 10 units by-right. CENTRALLY sandwiched between Koreatown & Hollywood, the property provides close proximity, and easy access to all neighborhoods in LA, including Downtown, Miracle Mile, Beverly Hills, etc. Due to its rapidly gentrifying location, rental upside, value-add potential & favorable zoning, the property is well positioned for Accelerated Appreciation and significant cashflow. Expenses are projections. Rents for VACANT units are projections.

  • June, 2016

  • Jun 29, 2016

    Date

    Price Change

    CRMLS: 16133946

    $1,499,000

    Price

  • Jun 13, 2016

    Date

    Price Change

    CRMLS: 16133946

    $1,550,000

    Price

  • Listing provided courtesy of CRMLS

    We are proud to present the exclusive listing of 508 N. Ardmore Avenue. This property presents both investors and owners-users alike, with an irreplaceable cash flowing asset with achievable upside in rents. This property consists of a SFR - four beds and 1 bath and four 2 bed + 1 bath apartments. Three of the 2+1 units have been completely remodeled and are achieving market rents with most of the utilities paid by the tenants. Strong cash flow with achievable upside in rents. Some copper plumbing. On-site laundry. Approximately 65-70% LTV Financing available from conventional lenders.

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Tax History for 508 N Ardmore Ave

Assessed Value (2020): $1,690,000
Year Land Value Improved Value Assessed Value
2020 $1,270,000 $420,000 $1,690,000

Home Value Compared to the Market

This property vs the competition

508 N Ardmore Ave is listed 42.86% higher than the median list price for the city of Los Angeles which has a median list price of $1,225,000. The median price per/sqft for Los Angeles is $774 and this home is listed at $426.52 per/sqft which puts the price per square foot 44.89% lower than the median price per square foot for the city of Los Angeles.

About 508 N Ardmore Ave

Detailed summary of property

508 N Ardmore Ave is a mixed use located in Los Angeles, CA 90004 and is currently for sale. This mixed use property offers 11 bedrooms, 6 bathrooms, roughly 4,103 living square feet, and sits on an approximately 8,250 square foot lot. 508 N Ardmore Ave was first listed on ArdentRealEstateGroup.com on April 23, 2024. The homeowner is currently asking $1,750,000. The median priced home in Los Angeles is $1,225,000 with a median price per square foot of $774. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 42.86% higher than the median priced home. Local competing homes currently for sale include 5144 W 21st St, 145 W 47 St and 2015 Pennsylvania Ave. While the average home in Los Angeles, CA is selling in 96 days, 508 N Ardmore Ave has a days on market of 9 days. There are currently 3485 homes for sale in the Los Angeles real estate market and 2372 of them are single family homes while 1013 of them are condos and 94 are townhomes. For more information on this home for sale at 508 N Ardmore Ave Los Angeles, CA 90004 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 508 N Ardmore Ave

Public county record property details
Beds
11
Baths
6
Year built
1916
Sq. Ft.
4,103
Lot Size
8,247
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
115
APN
5520-012-015

The source for these homes facts are from public records.

90004 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,388,000
Median List Price/Sq.Ft.
$810
Median Sold Price
$1,650,000
Median Sold Price/Sq.Ft.
$873
Total Inventory
64
Median Sale to List Price %
97.35%
Avg Days on Market
27
Loan Type
Conventional (0%), FHA (0%), VA (0%), Cash (13.33%), 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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