538 W 79Th St, Los Angeles, CA 90044
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538 W 79Th St Los Angeles, CA 90044

$2,300,000 Sold Price as of 10/03/2023
  • 16 Beds
  • 11 Baths
  • 5,721 Sq.Ft.
Sold
$2,300,000 Sold Price as of 10/03/2023 Refinance Your Mortgage

Map preview of 538 W 79Th St, Los Angeles, CA 90044

Property Overview: 538 W 79Th St Los Angeles, CA has 16 bedrooms, 11 bathrooms, 5,721 living square feet and 7,580 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: This new construction green-certified QUADPLEX is located in the bustling city of Los Angeles! Each of the four units features 4 bedrooms. Two of these units comprise 2.5 bathrooms each, while the other two consist of three bathrooms each, resulting in a combined total of 16 bedrooms and 11 bathrooms. .Don't miss out on this extraordinary opportunity! This deal offers unparalleled luxury with high-end finishes and exceptional construction quality, all backed by an incredible 6.21% cap rate. The bedrooms are well-sized with ample closet space as well as bathrooms featuring sleek designs and top-quality fixtures. The open floor plans include a living room, dining area, and a gourmet kitchen with stainless steel appliances and quartz countertops. The property also features a private yard, in-unit laundry, and central HVAC. Each unit is separately metered, which means that the landlord does not have to cover any of the utility expenses. In addition, this opportunity also offers has a value-add component allowing the future owner to convert the three car garage into an ADU (accessory dwelling unit). This would provide the potential for additional income or a separate living space for a family member or tenant. The ADU could be customized to fit your specific needs and can include features such as a kitchen, bathroom, and living area. This unique feature of the property offers endless possibilities and could provide a great return on investment. The property is sold with a 1-year builder warranty, which provides additional peace of mind for the buyer. This property offers a unique blend of modern amenities, cost-saving features, and income potential, making it an ideal choice for any savvy investor looking to capitalize on the thriving Los Angeles rental market. The property's prime location also adds to its appeal, providing easy access to major roads and freeways, as well as public transportation, making it a highly desirable location for tenants. The bus line is just 500 feet away, while your nearest Starbucks is a convenient 2 miles. SoFi Stadium and the USC campus are within a 4-mile distance, and the Crypto Arena is only 5 miles away. Experience the advantages of earning positive cash flow, enjoying accelerated tax benefits through new construction, benefiting from low maintenance costs, and witnessing appreciation in one of the most robust historical markets in Los Angeles.

Listed by Drew Dunn | BRE #01941825 | Four Brothers Real Estate
Last checked: 7 minutes ago | Last updated: November 19th, 2023 | Source CRMLS | DOM: 34

Home details

Lot Sq. Ft
7,580
HOA Dues
$0/mo
Year built
2023
Garage
3 Car
Property Type:
Fourplex
Status
Sold
MLS#
OC23121539
City
Los Angeles
County
Los Angeles
Time on Site
337 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 2
  • # of Leased Units: 0
  • # of Electric Meters: 4
  • # of Gas Meters: 4
  • # of Water Meters: 4
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 4
  • # of Baths: 3
  • Garage Spaces: 2
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Total Rent: --
  • Pro Forma/Market Rent: $3,800
Unit Breakdown 2
  • # of Units: 2
  • # of Beds: 4
  • # of Baths: 3
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Total Rent: --
  • Pro Forma/Market Rent: $3,800
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 4
  • # of Baths: 3
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Total Rent: --
  • Pro Forma/Market Rent: $3,800
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 6.21%
  • Gross Rent Multiplier: 12.61
  • Gross Scheduled Income: $182,400
  • Net Operating Income: $142,852
  • Gross Operating Income: $175,104
Annual Expense Breakdown
  • Total Operating Expense: $32,252
  • New Taxes: $26,807
  • Trash: $0
  • Gardener: $1,200
  • Insurance: $2,494
  • Maintenance: $1,751
  • Professional Management: $0
  • Water/Sewer: $0

Property Details for 538 W 79Th St

Interior Features
Cooling Information
  • Has Cooling
  • Central Air
Heating Information
  • Has Heating
  • Central
Laundry Information
  • Has Laundry
  • Gas Dryer Hookup, Washer Hookup
Fireplace Information
  • No Fireplace
  • None
Room Information
  • Flooring: Wood
  • Entry, Family Room, Laundry, Living Room, Main Floor Bedroom, Master Bathroom, Master Bedroom, Master Suite, Multi-Level Bedroom
Kitchen Information
  • Has Appliances
  • Dishwasher, ENERGY STAR Qualified Appliances, Disposal, Gas Oven, Gas Range, Gas Cooktop, Range Hood, Tankless Water Heater, Vented Exhaust Fan
Interior Features
  • Granite Counters, Open Floorplan, Recessed Lighting, Storage, Tandem, Unfurnished
  • Levels: Two
  • Window Features: Blinds, Double Pane Windows
  • Security Features: Carbon Monoxide Detector(s), Fire and Smoke Detection System, Fire Sprinkler System, Gated Community, Smoke Detector(s)
Exterior Features
Exterior Information
  • Roof: Composition
  • Lighting, Rain Gutters
  • Has Fence
  • Wood, Wrought Iron
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 3
  • # of Parking Spaces: 8
  • Has Parking
  • Parking Features: Assigned, Attached Carport, Controlled Entrance, Driveway, Concrete, Driveway Level, Garage, Garage Faces Rear, Garage - Single Door, Garage - Two Door, Gated, On Site, Private, Side by Side, Tandem Covered
Lot Information
  • Lot Features: 0-1 Unit/Acre, Front Yard, Garden, Landscaped, Lawn
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Has View
  • View: Neighborhood
  • Common Walls: 1 Common Wall
  • Total # of Units: 4
  • Parcel Number: 6032028018
  • Year Built Source: Builder
  • Architectural Style: Contemporary
  • Entry Level: 1
  • Foundation Details: Slab
  • Property is Attached
  • Accessibility Features: None
  • Offered With Property: New Stainless Refrigerator, Stove and dishwashers for all units
  • Property Condition: Updated/Remodeled
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
  • Utilities: Electricity Connected, Natural Gas Available, Sewer Connected, Water Connected
Location / Neighborhood
Location Information
  • Directions: Figueroa Street and 79th Street
  • Road Frontage Type: City Street
  • Road Surface Type: Gravel, Paved
Neighborhood Information
  • Community Features: Curbs, Gutters, Sidewalks, Storm Drains, Street Lights
View more facts & features

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Sale History for 538 W 79Th St

Last sold for $2,300,000 on October 3rd, 2023
  • November, 2023

  • Nov 19, 2023

    Date

    Expired

    CRMLS: OC23186518

    $3,800

    Price

  • Oct 5, 2023

    Date

    Active

    CRMLS: OC23186518

    $3,800

    Price

  • Listing provided courtesy of CRMLS

    Never-been-lived-in BRAND NEW CONSTRUCTION is located in the bustling city of Los Angeles! Charming 4 beds 2.5 baths in prime location and the bedrooms are well-sized with ample closet space as well as bathrooms featuring sleek designs and top-quality fixtures. The open floor plans include a living room, dining area, and a gourmet kitchen with BRAND NEW STAINLESS STEEL DISHWASHER, REFRIGERATOR, IN UNIT WASHER, DRYER, CENTRAL AC/HVAC and QUARTZ COUNTERTOP. Each unit is separately metered and 2 private parking spaces per unit. The bus line is just 500 feet away, while your nearest Starbucks is a convenient 2 miles. SoFi Stadium and the USC campus are within a 4-mile distance, and the Crypto Arena is only 5 miles away.

  • October, 2023

  • Oct 3, 2023

    Date

    Sold

    CRMLS: OC23121539

    $2,300,000

    Price

  • Aug 2, 2023

    Date

    Active

    CRMLS: OC23121539

    $2,300,000

    Price

  • September, 2020

  • Sep 9, 2020

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 538 W 79Th St

Assessed Value (2020): $49,037
Year Land Value Improved Value Assessed Value
2020 $21,942 $27,095 $49,037

Home Value Compared to the Market

This property vs the competition

538 W 79Th St sold on October 3, 2023 for 103.54% higher 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 $402.03 per/sqft which puts the price per square foot 46.68% lower than the current median sale per square foot for the city of Los Angeles.

About 538 W 79Th St

Detailed summary of property

538 W 79Th St is a fourplex that recently sold in Los Angeles, CA 90044. This fourplex offered 16 bedrooms, 11 bathrooms, roughly 5,721 living square feet, and sits on an approximately 7,580 square foot lot. 538 W 79Th St was first listed on ArdentRealEstateGroup.com on July 25, 2023. The homeowner sold the property for $2,300,000. 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 103.54% higher than the current median priced home. Local homes that are currently for sale include 1128 E 28th St, 4180 Garthwaite Ave and 2018 W 39th St. While the average home in Los Angeles, CA is selling in 98 days, 538 W 79Th St has a days on market of 34 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 538 W 79Th St Los Angeles, CA 90044 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 538 W 79Th St

Public county record property details
Beds
5
Baths
3
Year built
1906
Sq. Ft.
2,482
Lot Size
7,581
Stories
--
Type
Triplex (3 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
368
APN
6032-028-018

The source for these homes facts are from public records.

90044 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$670,000
Median List Price/Sq.Ft.
$518
Median Sold Price
$680,000
Median Sold Price/Sq.Ft.
$513
Total Inventory
86
Median Sale to List Price %
104.62%
Avg Days on Market
30
Loan Type
Conventional (12.5%), FHA (41.67%), VA (0%), Cash (16.67%), Other (4.17%)

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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.