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5801 Packard St, Los Angeles, CA 90019
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5801 Packard St Los Angeles, CA 90019

$3,265,000 Sold Price as of 08/25/2022
  • 13 Beds
  • 12 Baths
  • 8,300 Sq.Ft.
Sold
$3,265,000 Sold Price as of 08/25/2022 Refinance Your Mortgage
Map preview of 5801 Packard St, Los Angeles, CA 90019

Property Overview: 5801 Packard St Los Angeles, CA has 13 bedrooms, 12 bathrooms, 8,300 living square feet and 7,239 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: We are pleased to present 5801 Packard St , an 8 unit multifamily property located in the heart of Los Angeles. The property boasts large units (on Avg 1037 SqFt) with 4/8 units extensively renovated. Renovation include in suite washer and dryers, fully redone kitchens and bathrooms, and all new flooring. Current ownership has redone the entirety of the exterior which includes a new roof, new railings and decks, new windows, fresh and modern exterior paint, and landscaping. A new owner can benefit from a turnkey asset with roughly 35% in upside . New ownership can capture immediate upside by passing on the legal allocated cost for new roofs, new windows, new railings and decks, new paint, and the seismic retrofit as a 'pass through' to the tenants. In addition tenant relocation strategies and legal rent increase notices are possible opportunities for new ownership. Buyer to verify **

Listed by Jonathan Weir | BRE #02038545 | Marcus & Millichap
Last checked: 6 minutes ago | Last updated: September 2nd, 2022 | Source CRMLS | DOM: 48

Home details

Lot Sq. Ft
7,239
HOA Dues
$0/mo
Year built
1963
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
22170551
City
Los Angeles
County
Los Angeles
Time on Site
821 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 8
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $2,855
  • Total Rent: $2,855
  • Pro Forma/Market Rent: $3,300
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,140
  • Total Rent: $1,140
  • Pro Forma/Market Rent: $2,300
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $2,133
  • Total Rent: $2,133
  • Pro Forma/Market Rent: $3,300
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $3,995
  • Total Rent: $3,995
  • Pro Forma/Market Rent: $3,650
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,150
  • Total Rent: $2,150
  • Pro Forma/Market Rent: $2,300
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,175
  • Total Rent: $1,175
  • Pro Forma/Market Rent: $2,300
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,212
  • Total Rent: $1,212
  • Pro Forma/Market Rent: $2,300
Unit Breakdown 8
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $2,925
  • Total Rent: $2,925
  • Pro Forma/Market Rent: $3,300
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 3.9%
  • Gross Rent Multiplier: 15.83
  • Gross Scheduled Income: --
  • Net Operating Income: $130,152
  • Gross Operating Income: $204,689
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 5801 Packard St

Interior Features
Heating Information
  • Has Heating
  • Central
Laundry Information
  • Has Laundry
  • Washer Included, Dryer Included
Kitchen Information
  • Has Appliances
  • Microwave, Refrigerator
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 8
  • Has Parking
  • Parking Features: Subterranean
Lot Information
  • Lot Size Source: Assessor
Property Information
  • Total # of Units: 8
  • Parcel Number: 5086014001
  • Year Built Source: Assessor
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Location / Neighborhood
Location Information
  • Directions: Packard Street & S Ogden Drive
View more facts & features

Local Los Angeles Agent

Sale History for 5801 Packard St

Last sold for $3,265,000 on August 25th, 2022

  • August, 2022

  • Aug 25, 2022

    Date

    Sold

    CRMLS: 22170551

    $3,265,000

    Price

  • Jun 21, 2022

    Date

    Active

    CRMLS: 22170551

    $3,588,000

    Price

  • April, 2021

  • Apr 1, 2021

    Date

    Expired

    CRMLS: 21677840

    $3,190,000

    Price

  • Jan 16, 2021

    Date

    Active

    CRMLS: 21677840

    $3,190,000

    Price

  • Listing provided courtesy of CRMLS

    I am pleased to offer for sale an eight-unit apartment community located at 5801 Packard Street. The offering represents an excellent buying opportunity to acquire a stabilized asset with remaining value-add potential. Situated on a 7,239 square foot parcel, the property comprises of four one-bedroom units, three two-bedroom units, and one three-bedroom unit (The three-bedroom unit is currently a two-bedroom den with potential to convert to a three-bedroom). Current ownership has extensively renovated three of the eight units at the property including adding stainless steel appliances, new cabinetry, new flooring, quartzite counter-tops, new ceiling fans, and upgraded lighting and is achieving premiums over the average in-place rents: $924 for one-bedroom units and $721 for two bedroom units. Additionally, current ownership has already completed the seismic retrofit work.

  • January, 2021

  • Jan 8, 2021

    Date

    Canceled

    CRMLS: 20648814

    $3,225,000

    Price

  • Dec 28, 2020

    Date

    Pending

    CRMLS: 20648814

    $3,225,000

    Price

  • Oct 20, 2020

    Date

    Active

    CRMLS: 20648814

    $3,225,000

    Price

  • Listing provided courtesy of CRMLS

    Situated on a 7,239 square foot parcel, the property comprises of four one-bedroom units, three two bedroom units, and one three-bedroom unit (The three-bedroom unit is currently a two-bedroom den with potential to convert to a three-bedroom). Current ownership has extensively renovated three of the eight units at the property including adding stainless steel appliances, new cabinetry, new flooring, quartzite counter-tops, new ceiling fans, and upgraded lighting and is achieving premiums over the average in-place rents: $924 for one-bedroom units and $794 for two bedroom units. Additionally, current ownership has already completed the seismic retrofit work.

  • November, 2004

  • Nov 23, 2004

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 5801 Packard St

Assessed Value (2020): $2,288,880
Year Land Value Improved Value Assessed Value
2020 $1,602,216 $686,664 $2,288,880

Home Value Compared to the Market

This property vs the competition

5801 Packard St sold on August 25, 2022 for 198.21% 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 $402.41 per/sqft which puts the price per square foot 44.42% lower than the current median sale per square foot for the city of Los Angeles.

About 5801 Packard St

Detailed summary of property

5801 Packard St is a multi family that recently sold in Los Angeles, CA 90019. This multi family property offered 13 bedrooms, 12 bathrooms, roughly 8,300 living square feet, and sits on an approximately 7,239 square foot lot. 5801 Packard St was first listed on ArdentRealEstateGroup.com on June 21, 2022. The homeowner sold the property for $3,265,000. 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 198.21% higher than the current median priced home. Local homes that are currently for sale include 434 N Ogden Dr, 434 N Ogden Dr and 1625 Vineyard Ave. While the average home in Los Angeles, CA is selling in 106 days, 5801 Packard St has a days on market of 48 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 5801 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 5801 Packard St

Public county record property details
Beds
12
Baths
12
Year built
1963
Sq. Ft.
8,300
Lot Size
7,239
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
1
APN
5086-014-001

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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