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5350 Verona St, Los Angeles, CA 90022
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5350 Verona St Los Angeles, CA 90022

$1,120,000 Sold Price as of 08/31/2023
  • 3 Beds
  • 8 Baths
  • 4,872 Sq.Ft.
Sold
$1,120,000 Sold Price as of 08/31/2023 Refinance Your Mortgage
Map preview of 5350 Verona St, Los Angeles, CA 90022

Property Overview: 5350 Verona St Los Angeles, CA has 3 bedrooms, 8 bathrooms, 4,872 living square feet and 4,857 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: We are pleased to present an eight (8) unit apartment building located at 5350 Verona Street in Los Angeles, California. The subject property is situated in a good East Los Angeles location, north of E Olympic Boulevard and east of S Atlantic Boulevard. Built in 1929, this property contains a solid unit mix of five (5) studio / one-bathroom units and three (3) one-bedroom / one-bathroom units. This character, Spanish style building features separate gas and electricity meters for each unit, and an additional meter for the common areas. Limited on-site parking is available at the rear of the building along with two (2) garage storage spaces that can be converted into multiple ADU unit(s). Tenants will enjoy the close proximity from the subject property to major commercial corridors on Whittier Boulevard and East Olympic Boulevard. In less than five (5) minutes, tenants can walk to the Commerce Center Shopping Mall for all purposes. Some amenities at the mall include Target, Happiness Clothing, Xtreme Wear, Ross, Churros Don Abel, and Starbucks. Outdoor recreation is also available nearby at the Montebello Country Club. Situated in a good East Los Angeles location, this offering presents an excellent opportunity for any investor capitalize on incredible rental upside potential in addition to building out multiple ADU unit(s) in a well-connected transportation hub of Los Angeles.

Listed by Jason Tuvia | BRE #01772495 | Marcus & Millichap
Last checked: 1 minute ago | Last updated: September 1st, 2023 | Source CRMLS | DOM: 6

Home details

Lot Sq. Ft
4,857
HOA Dues
$0/mo
Year built
1929
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
23297073
City
Los Angeles
County
Los Angeles
Time on Site
330 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 8
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 5
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $797
  • Total Rent: $797
  • Pro Forma/Market Rent: $1,600
Unit Breakdown 2
  • # of Units: 3
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $955
  • Total Rent: $955
  • Pro Forma/Market Rent: $1,900
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.42%
  • Gross Rent Multiplier: 13.08
  • Gross Scheduled Income: --
  • Net Operating Income: $47,526
  • Gross Operating Income: $79,746
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 5350 Verona St

Interior Features
Heating Information
  • Has Heating
  • Wall Furnace
Interior Features
  • Levels: Two
Exterior Features
Exterior Information
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 3
  • Has Parking
  • Parking Features: Parking Space
Lot Information
  • Lot Features: Landscaped
Property Information
  • Has View
  • View: City Lights
  • Total # of Units: 8
  • Parcel Number: 6340007001
  • Architectural Style: Spanish
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Location / Neighborhood
Location Information
  • Directions: The subject property is situated in a good East Los Angeles location, north of E Olympic Boulevard and east of S Atlantic Boulevard.
View more facts & features

Local Los Angeles Agent

Sale History for 5350 Verona St

Last sold for $1,120,000 on August 31st, 2023

  • August, 2023

  • Aug 31, 2023

    Date

    Sold

    CRMLS: 23297073

    $1,120,000

    Price

  • Aug 2, 2023

    Date

    Active

    CRMLS: 23297073

    $1,075,000

    Price

Tax History for 5350 Verona St

Assessed Value (2020): $342,171
Year Land Value Improved Value Assessed Value
2020 $121,228 $220,943 $342,171

Home Value Compared to the Market

This property vs the competition

5350 Verona St sold on August 31, 2023 for 4.87% lower 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 $220.65 per/sqft which puts the price per square foot 70.74% lower than the current median sale per square foot for the city of Los Angeles.

About 5350 Verona St

Detailed summary of property

5350 Verona St is a multi family that recently sold in Los Angeles, CA 90022. This multi family property offered 3 bedrooms, 8 bathrooms, roughly 4,872 living square feet, and sits on an approximately 4,857 square foot lot. 5350 Verona St was first listed on ArdentRealEstateGroup.com on August 2, 2023. The homeowner sold the property for $1,120,000. 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 4.87% lower than the current median priced home. Local homes that are currently for sale include 3064 Ganahl St, 127 N Savannah St and 2814 Wabash Ave. While the average home in Los Angeles, CA is selling in 98 days, 5350 Verona St has a days on market of 6 days. There are currently 4006 homes for sale in the Los Angeles real estate market and 2700 of them are single family homes while 1190 of them are condos and 109 are townhomes. For more information on this home for sale at 5350 Verona St Los Angeles, CA 90022 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 5350 Verona St

Public county record property details
Beds
4
Baths
4
Year built
1929
Sq. Ft.
4,872
Lot Size
4,856
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
168
APN
6340-007-001

The source for these homes facts are from public records.

90022 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$650,000
Median List Price/Sq.Ft.
$626
Median Sold Price
$680,000
Median Sold Price/Sq.Ft.
$635
Total Inventory
22
Median Sale to List Price %
104.65%
Avg Days on Market
25
Loan Type
Conventional (14.29%), FHA (57.14%), VA (0%), Cash (14.29%), Other (14.29%)

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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