518 S Park View St Los Angeles, CA 90057

$1,350,000 Sold Price as of 06/12/2019

5 Beds
4 Baths
3,721 Sq.Ft.

Off Market

$1,350,000 Sold Price as of 06/12/2019 Refinance Your Mortgage

Map preview of 518 S Park View St, Los Angeles, CA 90057

Property Overview: 518 S Park View St Los Angeles, CA has 5 bedrooms, 4 bathrooms, 3,721 living square feet and 7,588 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Home Value Compared to the Market

518 S Park View St is currently an off market home in the city of Los Angeles. If you are considering making a home purchase, the value you pay for your home will depend on the market you're looking to purchase in. The city of Los Angeles has a median list price of $1,200,000. The median price per/sqft for Los Angeles is $768. With those numbers in mind, if you are looking to purchase a median priced home in Los Angeles, CA and put 20% down you will need to save up $240,000 for the down payment and will need roughly $24,000 for closing costs on top of the down payment. Homeowners who are looking to sell their home could expect to pay an average of 5% (2.5% to the listing agent and 2.5% to the buyers agent) in agent commissions when it comes to selling their home. With the median sale price for a home in Los Angeles the commission could be as much as $56,000. If you're thinking of selling and want to save, contact a local Ardent Real Estate Agent today.

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Sale History for 518 S Park View St

Last sold for $1,350,000 on June 12th, 2019

February, 2023
Feb 3, 2023

Date

Expired

CRMLS: SR22168826

$1,995,000

Price
Aug 3, 2022

Date

Active

CRMLS: SR22168826

$1,895,000

Price
Listing provided courtesy of CRMLS

Incredible Development Project!!! Situated in a OPPORTUNITY ZONE, this property is perfectly located in the thriving revitalized area of Macarthur Park/Westlake where currently there are a number of new apartment developments just completed. This property, which sits on a above average R4 zoned Lot is also located in a Trans Oriented Community (TOC) Tier 3 which allows the development of a brand new 30 units apartment building, 6 stories and 1 basement with a roof top using the 70% Bonus Density. Only 3 affordable units would be required of the 30 proposed units. Current tenants are month to month. Motivated seller!

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June, 2020
Jun 4, 2020

Date

Expired

CRMLS: 20551352

$1,890,000

Price
Apr 10, 2020

Date

Active

CRMLS: 20551352

$1,890,000

Price
Mar 5, 2020

Date

Pending

CRMLS: 20551352

$1,890,000

Price
Mar 2, 2020

Date

Active Under Contract

CRMLS: 20551352

$1,890,000

Price
Feb 6, 2020

Date

Active

CRMLS: 20551352

$1,890,000

Price
Listing provided courtesy of CRMLS

ATTENTION BUILDERS AND DEVELOPERS!! OPPORTUNITY ZONE !! ! LOCATED IN THE HEART OF WESTLAKE/MAC ARTHUR PARK AREA OF DOWNTOWN LA, HERE IS AN INCREDIBLE OPPORTUNITY TO BUILD A BRAND NEW 30-UNIT APARTMENT 6 STORIES BUILDING WITH ROOF TOP AMENITIES AND ONE SUBTERRANEAN PARKING LEVEL. OF THESE 30 UNITS, PLANS CALL FOR 3 AFFORDABLE HOUSING UNITS. THE PLANS HAVE BEEN SUBMITTED WITH TOC INCENTIVES FOR 70% BONUS DENSITY. PENDING APPROVAL OVER THE NEXT APPROX 6 MONTHS. CURRENTLY THE EXISTING BUILDING IS A 4-PLEX THAT WILL BE DELIVERED VACANT AT CLOSE OF ESCROW. SUBJECT PROPERTY COMES WITH PLANS FROM ONE OF KOREATOWN'S MOST REPUTABLE ARCHITECTS WHO HAS SUBMITTED AND GOTTEN APPROVED OF NEARLY 100 LIKEKIND PROJECTS. ZONING: R4-1 TOC III OPPORTUNITY ZONELOT SIZE: 7,513 SFOnly $63,000/unit!!

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November, 2019
Nov 26, 2019

Date

Canceled

CRMLS: 19495012

$1,950,000

Price
Aug 1, 2019

Date

Active

CRMLS: 19495012

$1,950,000

Price
Listing provided courtesy of CRMLS

ATTENTION BUILDERS AND DEVELOPERS!! OPPORTUNITY ZONE !! ! LOCATED IN THE HEART OF WESTLAKE/MAC ARTHUR PARK AREA OF DOWNTOWN LA, HERE IS AN INCREDIBLE OPPORTUNITY TO BUILD A BRAND NEW 30 UNITS APARTMENT 6 STORIES BUILDING WITH ROOF TOP AMENITIES AND ONE SUBTERRANEAN PARKING LEVEL. OF THESE 30 UNITS, PLANS CALL FOR 3 AFFORDABLE HOUSING UNITS. THE PLANS WILL BE SUBMITTED SOON WITH TOC INCENTIVES FOR 70% BONUS DENSITY. PENDING APPROVAL OVER THE NEXT APPROX 12 MONTHS. OWNER HAS ANOTHER SIMILAR 30 UNIT PROJECT ACROSS THE STREET THAT IS ALSO SUBMITTED, PENDING APPROVAL AND MAY BE AVAILABLE FOR SALE. CURRENTLY THE EXISTING BUILDING IS A 4-PLEX WITH TOTAL MONTHLY RENTS OF $927, $772, $1200, $1050 WHICH ALL INCLUDE UTILITIES. PROPOSED RENTS ARE ESTIMATED BASED ON MARKET RENTS WHICH WILL BE RENT CONTROL FREE.

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June, 2019
Jun 15, 2019

Date

Sold

CRMLS: BB17091628

$1,350,000

Price
May 2, 2019

Date

Active Under Contract

CRMLS: BB17091628

$1,400,000

Price
Apr 21, 2019

Date

Active

CRMLS: BB17091628

$1,400,000

Price
Apr 21, 2019

Date

Price Change

CRMLS: BB17091628

$1,400,000

Price
Mar 23, 2019

Date

Withdrawn

CRMLS: BB17091628

$1,288,000

Price
Sep 11, 2018

Date

Active Under Contract

CRMLS: BB17091628

$1,288,000

Price
Aug 15, 2018

Date

Active

CRMLS: BB17091628

$1,288,000

Price
Oct 23, 2017

Date

Active Under Contract

CRMLS: BB17091628

$1,288,000

Price
Apr 28, 2017

Date

Active

CRMLS: BB17091628

$1,288,000

Price
Listing provided courtesy of CRMLS

LOCATION, POTENTIAL and OPPORTUNITY! Four plex is in a desirable and high demand rental area seeing development and growth! Property is located in the Westlake area near MacArthur Park, Downtown LA and Koreatown! There are 2 separate buildings on a large approximate 7588 square feet lot. Front 2 story building has 3 units. Rear building has 1 unit above 4 car garage and rear of property offers 5 parking spaces. Each unit is separately metered for gas and electric.

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June, 2019
Jun 12, 2019

Date

Sold (Public Records)

Public Records

$1,350,000

Price
August, 2014
Aug 15, 2014

Date

Price Change

CRMLS: 14786073

$799,000

Price
Listing provided courtesy of CRMLS

518 South Park View Street, a four-unit apartment building, located in Los Angeles' Westlake neighborhood. Less than one block north of MacArthur Park, the property is centrally located between DTLA and Koreatown. Situated on a 7,588 SF lot, the asset consists of two buildings. The first, built in 1904, is a two-story building with three one-bedroom/one-bathroom units. The second building, built in 1942, contains the owner's unit, a three-bedroom/one-bath unit that sits atop four separate one car garages. An additional five parking spaces are located on the property. Separately metered for gas and electric, the building has recently had most of its windows replaced and upgraded.An investor can find further value in this offering with the development possibility of the lot, zoned LAR4-1, of up to eighteen buildable units by right.

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May, 2003
May 15, 2003

Date

Sold (Public Records)

Public Records

--

Price

Tax History for 518 S Park View St

Assessed Value (2020): $1,377,000

Year	Land Value	Improved Value	Assessed Value
2020	$918,000	$459,000	$1,377,000

About 518 S Park View St

Detailed summary of property

518 S Park View St is categorized with a use code of Quadruplex (4 Units, Any Combination) in Los Angeles, CA 90057 and last sold on June 12, 2019 for $1,350,000. This property has 5 bedrooms, 4 bathrooms, roughly 3,721 living square feet, and sits on an approximately 7,588 square foot lot. Homes in Los Angeles are selling for a median price of $1,120,000 and a median price per square foot of $724. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 20.54% higher than the current median priced home. 518 S Park View St was last sold on June 12, 2019 for $1,350,000. Local nearby listings include 117 Rosemont Ave, 2121 James M Wood Blvd #404 and 2864 Sunset Pl #404. The average home in Los Angeles, CA is selling in 106 days. There are currently 4052 homes for sale in the Los Angeles real estate market and 2782 of them are single family homes while 1148 of them are condos and 116 are townhomes. If you are the homeowner and looking to sell the home at 518 S Park View St 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 518 S Park View St

Public county record property details

Beds: 5
Baths: 4
Year built: 1904
Sq. Ft.: 3,721
Lot Size: 7,588
Stories: --

Type: Quadruplex (4 Units, Any Combination)
Pool: No
Spa: No
County: Los Angeles
Lot#: 29
APN: 5154-037-030

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

$575,000

Median List Price/Sq.Ft.

$538

Median Sold Price

$900,000

Median Sold Price/Sq.Ft.

$515

Total Inventory

Median Sale to List Price %

90.91%

Avg Days on Market

Loan Type

Conventional (0%), FHA (0%), VA (0%), Cash (100%), Other (0%)

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