5607 Virginia Ave Los Angeles, CA 90038

$3,350,000 Sold Price as of 06/26/2018

-- Beds
-- Baths
11,303 Sq.Ft.

Off Market

$3,350,000 Sold Price as of 06/26/2018 Refinance Your Mortgage

Map preview of 5607 Virginia Ave, Los Angeles, CA 90038

Property Overview: 5607 Virginia Ave Los Angeles, CA has -- bedrooms, -- bathrooms, 11,303 living square feet and 7,502 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Home Value Compared to the Market

5607 Virginia Ave 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 $1,209,000. The median price per/sqft for Los Angeles is $771. 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 $241,800 for the down payment and will need roughly $24,180 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 5607 Virginia Ave

Last sold for $3,350,000 on June 26th, 2018

February, 2023
Feb 21, 2023

Date

Expired

CRMLS: 22203825

$4,400,000

Price
Sep 29, 2022

Date

Active

CRMLS: 22203825

$4,560,000

Price
Listing provided courtesy of CRMLS

We are pleased to offer for sale a 24-unit apartment community located at 5607 Virginia Ave. This 2-story building is in prime Hollywood, proximate to excellent restaurants, fun tourist attractions, great public transportation, high-paying jobs, and everything else the city of Los Angeles area has to offer. The building itself was built in 1938 and comprises 11,303 rentable square feet, while the lot that it sits on is approximately 7,502 square feet. This asset offers an investor the rare opportunity to purchase a well-maintained, well-located asset with exceptional value-add potential. Based on our calculations, the rental upside is right around 50%, which gives the buyer plenty of opportunity to increase income as tenants move out and increase their returns. Another very intriguing aspect of this property is that it is separately metered for gas & electricity, meaning that tenants are responsible for their own utility usage. This rare opportunity is perfect for the long-term investor who is looking to place their money into a well-located asset with great future potential. If you are interested in this property, please give us a call today to discuss the opportunity.

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June, 2022
Jun 3, 2022

Date

Expired

CRMLS: 22136361

$4,656,000

Price
Mar 14, 2022

Date

Active

CRMLS: 22136361

$4,656,000

Price
Listing provided courtesy of CRMLS

5607 Virginia Ave. is a classic 1927 Spanish Mediterranean style 24-unit apartment located within the Hollywood Studio District. Current ownership has renovated about one-third of the units leaving substantial upside (37%) in rents. The building is separately metered for gas and electricity reducing ownership's exposure to rising energy costs. The property is subject to the Los Angeles Rent Stabilization Ordinance and features a common laundry area for the tenants' use. Hollywood's creative development renaissance of the past decade continues at breakneck pace. Over 2.5 million square feet of office space is currently under development in the submarket. Netflix, Hulu and ViacomCBS all have significant footprints in Hollywood with new walkable residential, retail and entertainment amenities throughout. Available as a portfolio with 676 Rampart Blvd. (32 units). Visit the Property Website or contact the Listing Team for the Offering Memorandum.

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May, 2020
May 27, 2020

Date

Expired

CRMLS: 19537482

$4,550,000

Price
Apr 15, 2020

Date

Price Change

CRMLS: 19537482

$4,550,000

Price
Mar 9, 2020

Date

Price Change

CRMLS: 19537482

$4,695,000

Price
Jan 30, 2020

Date

Active Under Contract

CRMLS: 19537482

$4,752,000

Price
Dec 17, 2019

Date

Active

CRMLS: 19537482

$4,752,000

Price
Listing provided courtesy of CRMLS

Huge Price Reduction! 24 Units value add opportunity near Hollywood. Spanish style building built in 1927. Wood Floors updated countertops and stainless steel appliances. No parking. Walker's Paradise: Daily errands do not require a car. 91 walkscore.

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June, 2018
Jun 26, 2018

Date

Sold (Public Records)

Public Records

$3,350,000

Price
July, 2015
Jul 17, 2015

Date

Sold (Public Records)

Public Records

$2,700,000

Price

Tax History for 5607 Virginia Ave

Assessed Value (2020): $3,506,833

Year	Land Value	Improved Value	Assessed Value
2020	$2,861,100	$645,733	$3,506,833

About 5607 Virginia Ave

Detailed summary of property

5607 Virginia Ave is categorized with a use code of Apartment House (5+ Units) in Los Angeles, CA 90038 and last sold on June 26, 2018 for $3,350,000. This property has -- bedrooms, -- bathrooms, roughly 11,303 living square feet, and sits on an approximately 7,502 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 199.11% higher than the current median priced home. 5607 Virginia Ave was last sold on June 26, 2018 for $3,350,000. Local nearby listings include 806 N Oxford Ave, 1242 Gordon St and 646 N Gramercy Pl. The average home in Los Angeles, CA is selling in 105 days. There are currently 4124 homes for sale in the Los Angeles real estate market and 2828 of them are single family homes while 1171 of them are condos and 118 are townhomes. If you are the homeowner and looking to sell the home at 5607 Virginia Ave Los Angeles, CA 90038 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 5607 Virginia Ave

Public county record property details

Beds: --
Baths: --
Year built: 1927
Sq. Ft.: 11,303
Lot Size: 7,502
Stories: --

Type: Apartment House (5+ Units)
Pool: No
Spa: No
County: Los Angeles
Lot#: 17
APN: 5536-007-018

The source for these homes facts are from public records.

90038 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$1,299,000

Median List Price/Sq.Ft.

$666

Median Sold Price

$1,089,000

Median Sold Price/Sq.Ft.

$642

Total Inventory

Median Sale to List Price %

90.83%

Avg Days on Market

Loan Type

Conventional (0%), FHA (0%), VA (0%), Cash (25%), Other (0%)

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(714) 706-1823

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