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5675 Packard St, Los Angeles, CA 90019
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5675 Packard St Los Angeles, CA 90019

$2,850,000 Sold Price as of 05/10/2022
  • 9 Beds
  • 6 Baths
  • 5,794 Sq.Ft.
Sold
$2,850,000 Sold Price as of 05/10/2022 Refinance Your Mortgage
Map preview of 5675 Packard St, Los Angeles, CA 90019

Property Overview: 5675 Packard St Los Angeles, CA has 9 bedrooms, 6 bathrooms, 5,794 living square feet and 7,298 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Check out this impeccably maintained, plug-and-play investment opportunity featuring six spacious units situated on a corner lot in Prime Mid-Wilshire delivered with plans for two Accessory Dwelling Units! The property boasts excellent street frontage on both Packard and Spaulding Avenue and a unit mix which features 3 one-bedroom units and 3 two-bedroom units - with the two-bedroom (which are one plus bonus room) units FULLY-renovated with brand new kitchens, bathrooms, in-unit washer/dryers, stainless steel appliances and original wood flooring throughout. Build 2 ACCESSORY DWELLING UNITS (Two-bedroom and studio) - and achieve an additional $50,000+/year in supplemental rent!! Once ADUs complete, property will operate at north of a 5% cap rate.

Listed by Everett Wong | BRE #01991247 | Greysteel California, Inc.
Last checked: 3 minutes ago | Last updated: May 12th, 2022 | Source CRMLS | DOM: 74

Home details

Lot Sq. Ft
7,298
HOA Dues
$0/mo
Year built
1938
Garage
6 Car
Property Type:
Multi Family
Status
Sold
MLS#
PW22013876
City
Los Angeles
County
Los Angeles
Time on Site
969 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 6
  • Total # of Buildings: 1
  • # of Leased Units: 6
  • # of Electric Meters: 6
  • # of Gas Meters: 6
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,845
  • Total Rent: $2,845
  • Pro Forma/Market Rent: $2,995
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,995
  • Total Rent: $2,995
  • Pro Forma/Market Rent: $2,995
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,738
  • Total Rent: $1,738
  • Pro Forma/Market Rent: $2,350
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,845
  • Total Rent: $2,845
  • Pro Forma/Market Rent: $2,995
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,867
  • Total Rent: $1,867
  • Pro Forma/Market Rent: $2,350
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,709
  • Total Rent: $1,709
  • Pro Forma/Market Rent: $2,350
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 3.8%
  • Gross Rent Multiplier: 17.6
  • Gross Scheduled Income: $167,988
  • Net Operating Income: $111,595
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $51,353
  • Trash: $3,300
  • Insurance: $2,546
  • Professional Management: $0
  • Water/Sewer: $5,513

Property Details for 5675 Packard St

Interior Features
Laundry Information
  • Has Laundry
  • Gas Dryer Hookup, Inside, Washer Hookup
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 6
  • # of Parking Spaces: 6
Lot Information
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 6
  • Parcel Number: 5085025001
  • Year Built Source: Estimated
  • Property is not Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: North of Pico. East of Fairfax
Neighborhood Information
  • Community Features: Urban
View more facts & features

Local Los Angeles Agent

Sale History for 5675 Packard St

Last sold for $2,850,000 on May 10th, 2022

  • April, 2022

  • Apr 11, 2022

    Date

    Pending

    CRMLS: PW22013876

    $2,950,000

    Price

  • May, 2021

  • May 6, 2021

    Date

    Sold

    CRMLS: PW21027169

    $2,000,000

    Price

  • Apr 20, 2021

    Date

    Pending

    CRMLS: PW21027169

    $2,250,000

    Price

  • Feb 9, 2021

    Date

    Active

    CRMLS: PW21027169

    $2,250,000

    Price

  • Listing provided courtesy of CRMLS

    Property to be delivered with 3 out of 6 Units Vacant! Don't miss out on Spaulding Flats - an incredibly charming and well-maintained 6 unit corner lot multifamily opportunity well-situated in Mid-Wilshire. This property features a unit mix consisting of six incredibly spacious one-bedroom units, each with dining rooms boasting an average unit size of just under 1,000 SF each. The units feature original wood flooring and offer plenty of window-lines and bountiful natural light. Recent upgrades include upgraded electrical. ADU potential in garage spaces (Buyer to Investigate).

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Tax History for 5675 Packard St

Assessed Value (2020): $719,521
Year Land Value Improved Value Assessed Value
2020 $533,585 $185,936 $719,521

Home Value Compared to the Market

This property vs the competition

5675 Packard St sold on May 10, 2022 for 163.39% higher than the current median sold price for the city of Los Angeles which is $1,120,000. The median sold price per/sqft for Los Angeles is $724 and this home is sold at $509.15 per/sqft which puts the price per square foot 29.68% lower than the current median sale per square foot for the city of Los Angeles.

About 5675 Packard St

Detailed summary of property

5675 Packard St is a multi family that recently sold in Los Angeles, CA 90019. This multi family property offered 9 bedrooms, 6 bathrooms, roughly 5,794 living square feet, and sits on an approximately 7,298 square foot lot. 5675 Packard St was first listed on ArdentRealEstateGroup.com on January 24, 2022. The homeowner sold the property for $2,850,000. Home 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 163.39% higher than the current median priced home. Local homes that are currently for sale include 826 S Sycamore Ave, 1108 S Sherbourne Dr and 1805 S Longwood Ave. While the average home in Los Angeles, CA is selling in 106 days, 5675 Packard St has a days on market of 74 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. For more information on this home for sale at 5675 Packard St Los Angeles, CA 90019 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 5675 Packard St

Public county record property details
Beds
--
Baths
--
Year built
--
Sq. Ft.
5,794
Lot Size
7,298
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
1
APN
5085-025-001

The source for these homes facts are from public records.

90019 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,450,000
Median List Price/Sq.Ft.
$703
Median Sold Price
$1,277,500
Median Sold Price/Sq.Ft.
$715
Total Inventory
95
Median Sale to List Price %
98.65%
Avg Days on Market
29
Loan Type
Conventional (0%), FHA (0%), VA (0%), Cash (0%), Other (20%)

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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