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5082 Lemon Grove Ave, Los Angeles, CA 90029
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5082 Lemon Grove Ave Los Angeles, CA 90029

$1,100,000 Sold Price as of 10/09/2019
  • 4 Beds
  • 4 Baths
  • 3,186 Sq.Ft.
Sold
$1,100,000 Sold Price as of 10/09/2019 Refinance Your Mortgage
Map preview of 5082 Lemon Grove Ave, Los Angeles, CA 90029

Property Overview: 5082 Lemon Grove Ave Los Angeles, CA has 4 bedrooms, 4 bathrooms, 3,186 living square feet and 5,556 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: OWNER WILL CARRY* Four Units with good upside, located in this highly sought after Hollywood neighborhood. Corner lot provides excellent lighting and visibility for all of the large, one bedroom, one bath units. Big living rooms open to dining area and open kitchen. Laundry is in the separate service porch for each apartment. All units have huge, walk-in closets. Four private garages plus off street uncovered parking. Plumbing and foundation redone; one unit has granite counters; three units have wood flooring - all very clean. Value added opportunity.

Listed by Raymond Schuldenfrei | BRE #01134292 | Compass
Last checked: 2 seconds ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 45

Home details

Lot Sq. Ft
5,556
HOA Dues
$0/mo
Year built
1939
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
19482544
City
Los Angeles
County
Los Angeles
Time on Site
1211 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 2
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,012
  • Total Rent: $12,144
  • Pro Forma/Market Rent: $22,740
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $904
  • Total Rent: $10,845
  • Pro Forma/Market Rent: $22,740
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $904
  • Total Rent: $10,845
  • Pro Forma/Market Rent: $22,740
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Actual Rent: $938
  • Total Rent: $11,257
  • Pro Forma/Market Rent: $22,740
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 25
  • Gross Scheduled Income: --
  • Net Operating Income: $36,936
  • Gross Operating Income: $45,096
  • Improvements Total: $98,226
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 5082 Lemon Grove Ave

Interior Features
Cooling Information
  • No Cooling
  • None
Laundry Information
  • Has Laundry
  • Gas Dryer Hookup
Kitchen Information
  • Has Appliances
  • Disposal
Lot Details / Garage and Parking
Parking/Garage Information
  • Has Parking
  • Parking Features: Assigned, On Site, Concrete, Street
Lot Information
  • Lot Size Source: Assessor
Property Information
  • Total # of Units: 4
  • Parcel Number: 5535027001
Location / Neighborhood
Location Information
  • Directions: North of Melrose Ave, South of Santa Monica Blvd, East of Western Ave, corner of Oxford AVE. (Melrose Hill)
View more facts & features

Local Los Angeles Agent

Sale History for 5082 Lemon Grove Ave

Last sold for $1,080,000 on October 9th, 2019

  • October, 2019

  • Oct 10, 2019

    Date

    Sold

    CRMLS: 19482544

    $1,100,000

    Price

  • Sep 27, 2019

    Date

    Pending

    CRMLS: 19482544

    $1,150,000

    Price

  • Aug 19, 2019

    Date

    Active Under Contract

    CRMLS: 19482544

    $1,150,000

    Price

  • Jun 26, 2019

    Date

    Active

    CRMLS: 19482544

    $1,150,000

    Price

  • October, 2019

  • Oct 9, 2019

    Date

    Sold (Public Records)

    Public Records

    $1,080,000

    Price

  • June, 2019

  • Jun 12, 2019

    Date

    Expired

    CRMLS: 18406562

    $1,339,000

    Price

  • Mar 7, 2019

    Date

    Withdrawn

    CRMLS: 18406562

    $1,339,000

    Price

  • Jan 21, 2019

    Date

    Price Change

    CRMLS: 18406562

    $1,339,000

    Price

  • Nov 11, 2018

    Date

    Active

    CRMLS: 18406562

    $1,349,000

    Price

  • Listing provided courtesy of CRMLS

    Considerable Rental Upside for this four unit, multi family investment located in this highly sought after Hollywood section of the city, boasting one of the cities most dense populations. The corner lot provides excellent lighting and visibility, and features four large one bedroom/one bath units including very large living rooms, dining areas, galley kitchen, and service porch with individual laundry. All units have huge, walk-in closets. Four private garages plus off street uncovered parking for four. Great "Value added" opportunity by remodeling units and increasing rents to current market value.

  • January, 2019

  • Jan 3, 2019

    Date

    Expired

    CRMLS: 18368812

    $1,140,000

    Price

  • Oct 17, 2018

    Date

    Withdrawn

    CRMLS: 18368812

    $1,140,000

    Price

  • Oct 1, 2018

    Date

    Price Change

    CRMLS: 18368812

    $1,140,000

    Price

  • Jul 25, 2018

    Date

    Active

    CRMLS: 18368812

    $1,190,000

    Price

  • Listing provided courtesy of CRMLS

    CONSIDERABLE RENTAL UPSIDE! PRO-FORMA CAP RATE OF 5.56% AND GRM OF 12.53. Marcus & Millichap is pleased to present the unique opportunity to acquire 5082 Lemon Grove Avenue, a four-unit value-add multi-family investment located in Los Angeles' highly sought after and trendy Hollywood section of the city which boasts one of the city's densest populations. The property is positioned on a corner lot for excellent lighting and visibility, and features four large one-bedroom/one-bathroom units. The units are spacious and well laid out to include huge living room, dining area, galley kitchen, and service porch. Each unit is well-amenitized to include in-unit washer/dryer and private garage. 5082 Lemon Grove Avenue offers a true value-add opportunity by remodeling units and increasing the considerably low rents to current market levels as units turn.

  • July, 2018

  • Jul 3, 2018

    Date

    Canceled

    CRMLS: 18341908

    $1,099,000

    Price

  • Jun 24, 2018

    Date

    Price Change

    CRMLS: 18341908

    $1,099,000

    Price

  • Jun 24, 2018

    Date

    Price Change

    CRMLS: 18341908

    $1,249,000

    Price

  • May 9, 2018

    Date

    Active

    CRMLS: 18341908

    $1,349,000

    Price

  • Listing provided courtesy of CRMLS

    Located in the Melrose Hill area, this clean, four unit building offers tremendous upside income. Each of the large, One Bedroom, One bath units has a huge living room, dining area, galley kitchen and service porch with laundry. The tiled baths offer both tub and shower, and the closet space is amazing. The corner lot allows for excellent light and cross ventilation. All units have a private garage. Each unit has separate gas and electric meters. Tenants love the hardwood floors. Plumbing has been updated and the foundation redone. Easy access to the 101 Freeway, shops and transit; Lemon Grove Recreation Center is just a few blocks away. Local area is experiencing massive development with very high rents.

  • September, 1996

  • Sep 10, 1996

    Date

    Sold (Public Records)

    Public Records

    $143,000

    Price

Show More

Tax History for 5082 Lemon Grove Ave

Assessed Value (2020): $1,080,000
Year Land Value Improved Value Assessed Value
2020 $760,000 $320,000 $1,080,000

Home Value Compared to the Market

This property vs the competition

5082 Lemon Grove Ave sold on October 9, 2019 for 3.36% lower 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 $360.95 per/sqft which puts the price per square foot 52.19% lower than the current median sale per square foot for the city of Los Angeles.

About 5082 Lemon Grove Ave

Detailed summary of property

5082 Lemon Grove Ave is a multi family that recently sold in Los Angeles, CA 90029. This multi family property offered 4 bedrooms, 4 bathrooms, roughly 3,186 living square feet, and sits on an approximately 5,556 square foot lot. 5082 Lemon Grove Ave was first listed on ArdentRealEstateGroup.com on January 13, 2021. The homeowner sold the property for $1,100,000. 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 3.36% lower than the current median priced home. Local homes that are currently for sale include 519 N Alexandria Ave, 4307 Clinton St and 1423 N Alexandria Ave. While the average home in Los Angeles, CA is selling in 94 days, 5082 Lemon Grove Ave has a days on market of 45 days. There are currently 3580 homes for sale in the Los Angeles real estate market and 2422 of them are single family homes while 1059 of them are condos and 93 are townhomes. For more information on this home for sale at 5082 Lemon Grove Ave Los Angeles, CA 90029 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 5082 Lemon Grove Ave

Public county record property details
Beds
4
Baths
4
Year built
1939
Sq. Ft.
3,186
Lot Size
5,555
Stories
--
Type
Quadruplex (4 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
1
APN
5535-027-001

The source for these homes facts are from public records.

90029 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,199,000
Median List Price/Sq.Ft.
$802
Median Sold Price
$1,049,000
Median Sold Price/Sq.Ft.
$1,042
Total Inventory
32
Median Sale to List Price %
95.36%
Avg Days on Market
38
Loan Type
Conventional (60%), FHA (0%), VA (0%), Cash (0%), Other (0%)

Thinking of Selling?

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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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