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515 E 61St St, Los Angeles, CA 90003
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515 E 61St St Los Angeles, CA 90003

$775,000 Sold Price as of 05/27/2022
  • 5 Beds
  • 4 Baths
  • 2,291 Sq.Ft.
Sold
$775,000 Sold Price as of 05/27/2022 Refinance Your Mortgage
Map preview of 515 E 61St St, Los Angeles, CA 90003

Property Overview: 515 E 61St St Los Angeles, CA has 5 bedrooms, 4 bathrooms, 2,291 living square feet and 5,419 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Welcome to 515 E. 61st St., a 4-unit property in an up-and-coming neighborhood of Los Angeles. Situated in a rapidly-improving neighborhood, this property is ready to rent as-is, while still a great candidate for value-add investors. Despite a great current cap. rate of 6.9%, there is still tremendous upside in the rents. Offering a favorable unit mix of a duplex up front, each unit having 2 beds, 1 bath. In the rear, there are two separate, free-standing structures - with one home being a 1 bed, 1 bath and the second home being a studio. This large lot features tons of gated parking in the rear, while providing an opportunity to build one, if not two, ADUs. Whether you are an owner-user or a traditional investor, this property has unlimited potential.

Listed by Juan Huizar | BRE #01417642 | Sage Real Estate
Co-listed by Caleb Baldwin | BRE #02056751 | Sage Real Estate
Last checked: 13 minutes ago | Last updated: May 27th, 2022 | Source CRMLS | DOM: 48

Home details

Lot Sq. Ft
5,419
HOA Dues
$0/mo
Year built
1908
Garage
--
Property Type:
Fourplex
Status
Sold
MLS#
PW22041707
City
Los Angeles
County
Los Angeles
Time on Site
794 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 3
  • # of Leased Units: 3
  • # of Electric Meters: 4
  • # of Gas Meters: 3
  • # 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: $1,125
  • Total Rent: $1,125
  • Pro Forma/Market Rent: $1,500
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,000
  • Total Rent: $1,000
  • Pro Forma/Market Rent: $1,350
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,250
  • Total Rent: $2,250
  • Pro Forma/Market Rent: $2,250
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,946
  • Total Rent: $1,946
  • Pro Forma/Market Rent: $2,250
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 6.9%
  • Gross Rent Multiplier: 10.55
  • Gross Scheduled Income: $75,852
  • Net Operating Income: $55,372
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $20,480
  • Gas/Fuel: $0
  • Licenses: $421
  • New Taxes: $10,000
  • Trash: $0
  • Gardener: $900
  • Insurance: $1,421
  • Professional Management: $4,560
  • Water/Sewer: $3,360

Property Details for 515 E 61St St

Interior Features
Cooling Information
  • No Cooling
  • None
Heating Information
  • No Heating
  • None
Laundry Information
  • Has Laundry
  • Inside
Fireplace Information
  • No Fireplace
  • None
Room Information
  • Flooring: Tile
  • Entry, Kitchen, Living Room
Kitchen Information
  • Has Appliances
  • Gas Oven, Gas Cooktop, Gas Water Heater, Range Hood
Interior Features
  • Levels: Two
Exterior Features
Exterior Information
  • Roof: Shingle
  • Has Fence
  • Good Condition, Security, Stucco Wall, Wrought Iron
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 6
  • Has Parking
  • Parking Features: Driveway, Asphalt, Private, Shared Driveway
Lot Information
  • Lot Features: Rectangular Lot
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • No View
  • View: None
  • Common Walls: 2+ Common Walls
  • Total # of Units: 4
  • Parcel Number: 6006026028
  • Year Built Source: Assessor
  • Property is Attached
  • Accessibility Features: Parking, Ramp - Main Level
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
  • Utilities: Electricity Available, Electricity Connected, Natural Gas Available, Natural Gas Connected, Sewer Available, Sewer Connected
Assessment Information
  • Has Assessments
  • Assessments: Buyer to Verify
Location / Neighborhood
Location Information
  • Directions: Major cross streets S Avalon Blvd & E Slauson Ave.
  • Road Frontage Type: City Street
  • Road Surface Type: Paved
Neighborhood Information
  • Community Features: Curbs, Sidewalks, Street Lights
View more facts & features

Local Los Angeles Agent

Sale History for 515 E 61St St

Last sold for $775,000 on May 27th, 2022

  • April, 2022

  • Apr 11, 2022

    Date

    Price Change

    CRMLS: PW22041707

    $775,000

    Price

  • Mar 18, 2022

    Date

    Active Under Contract

    CRMLS: PW22041707

    $800,000

    Price

  • June, 2021

  • Jun 7, 2021

    Date

    Leased

    CRMLS: SB21038882

    $1,000

    Price

  • Mar 19, 2021

    Date

    Price Change

    CRMLS: SB21038882

    $1,000

    Price

  • Mar 5, 2021

    Date

    Price Change

    CRMLS: SB21038882

    $1,125

    Price

  • Feb 24, 2021

    Date

    Active

    CRMLS: SB21038882

    $1,250

    Price

  • Listing provided courtesy of CRMLS

    Welcome to this stand alone studio with no shared walls in South Los Angeles. Enjoy ample sunlight in the main room, while a separate kitchen area contains a range appliance, pantry and storage shelves. One off-street parking spot is included. Located near Dr. Maya Angelou High School, South Los Angeles Wetland Park, and Northgate Market

  • April, 2021

  • Apr 1, 2021

    Date

    Leased

    CRMLS: SB21038834

    $1,125

    Price

  • Mar 19, 2021

    Date

    Price Change

    CRMLS: SB21038834

    $1,125

    Price

  • Mar 5, 2021

    Date

    Price Change

    CRMLS: SB21038834

    $1,225

    Price

  • Feb 24, 2021

    Date

    Active

    CRMLS: SB21038834

    $1,300

    Price

  • Listing provided courtesy of CRMLS

    Welcome to this stand alone 1 bedroom, 1 bath rental in South Los Angeles! Located on the back of the lot, enjoy the privacy as there are no shared walls with neighbors. A ramp into the unit and rails in the restroom are installed for added safety. One off-street parking spot is included. Located near Dr. Maya Angelou High School, South Los Angeles Wetland Park, and Northgate Market.

  • May, 2017

  • May 2, 2017

    Date

    Sold (Public Records)

    Public Records

    $520,000

    Price

  • September, 2007

  • Sep 19, 2007

    Date

    Sold (Public Records)

    Public Records

    $645,000

    Price

Show More

Tax History for 515 E 61St St

Assessed Value (2020): $551,827
Year Land Value Improved Value Assessed Value
2020 $291,832 $259,995 $551,827

Home Value Compared to the Market

This property vs the competition

515 E 61St St sold on May 27, 2022 for 34.87% 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 $338.28 per/sqft which puts the price per square foot 55.19% lower than the current median sale per square foot for the city of Los Angeles.

About 515 E 61St St

Detailed summary of property

515 E 61St St is a fourplex that recently sold in Los Angeles, CA 90003. This fourplex offered 5 bedrooms, 4 bathrooms, roughly 2,291 living square feet, and sits on an approximately 5,419 square foot lot. 515 E 61St St was first listed on ArdentRealEstateGroup.com on March 8, 2022. The homeowner sold the property for $775,000. 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 34.87% lower than the current median priced home. Local homes that are currently for sale include 4918 Wadsworth Ave, 7818 Avalon Blvd and 6207 S Figueroa St. While the average home in Los Angeles, CA is selling in 93 days, 515 E 61St St has a days on market of 48 days. There are currently 3618 homes for sale in the Los Angeles real estate market and 2437 of them are single family homes while 1084 of them are condos and 92 are townhomes. For more information on this home for sale at 515 E 61St St Los Angeles, CA 90003 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 515 E 61St St

Public county record property details
Beds
7
Baths
5
Year built
1908
Sq. Ft.
2,291
Lot Size
5,418
Stories
--
Type
Quadruplex (4 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
405
APN
6006-026-028

The source for these homes facts are from public records.

90003 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.
$582
Median Sold Price
$540,000
Median Sold Price/Sq.Ft.
$534
Total Inventory
39
Median Sale to List Price %
100%
Avg Days on Market
66
Loan Type
Conventional (0%), FHA (66.67%), VA (0%), Cash (0%), Other (16.67%)

Thinking of Selling?

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(714) 706-1823

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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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