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5816 Willoughby Ave, Los Angeles, CA 90038
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5816 Willoughby Ave Los Angeles, CA 90038

$1,200,000
  • 6 Beds
  • 3 Baths
  • 2,254 Sq.Ft.
For Sale
$1,200,000 Get Pre-Qualified
Map preview of 5816 Willoughby Ave, Los Angeles, CA 90038

Property Overview: 5816 Willoughby Ave Los Angeles, CA has 6 bedrooms, 3 bathrooms, 2,254 living square feet and 6,493 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: 5816 Willoughby Avenue, a 3-unit multifamily investment OR Development opportunity located in perhaps one of the strongest submarkets in Los Angeles, Hollywood, CA. The property is situated in one of the trendiest locations in Los Angeles, sitting just North of Melrose Ave, sandwiched between Vine Street and Gower Street. The property currently features 2,254 square feet of gross rentable area, situated on a 6,491-square foot lot. The 3-unit building is composed of 3 two-bedroom/one-bathroom units and offers gated parking for tenants. 5816 Willoughby Avenue offers tenants excellent proximity to some of Los Angeles' finest amenities such as the Sunset Strip, Wilshire Country Club, Melrose Avenue, Restaurants on La Brea, the world renowned shopping center, The Grove and others. Nearby grocers include Trader Joe's, Pavilions and Sprouts. Local dining options include Alfalfa, Osteria, Great White, Ramen Melrose, The Common Good, Stir Crazy and many more. Due to the property's premier location, 5816 Willoughby Avenue offers a unique opportunity to any investor looking to acquire a well-maintained asset or develop a completely new product in the heart of Central Hollywood* Opportunity: As Is build (2) Detached ADU's OR Redevelop into 8-Units OR Redevelop into 8-Units and add (2) ADU's *Buyer to Verify*

Listed by Chandler Rockwell | BRE #02080782 | Fred Leeds Asset Group Inc.
Last checked: 3 minutes ago | Last updated: August 13th, 2024 | Source CRMLS | DOM: 44

Home details

Lot Sq. Ft
6,493
HOA Dues
$0/mo
Year built
1916
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24427151
City
Los Angeles
County
Los Angeles
Time on Site
36 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 3
  • Total # of Buildings: 2
Unit Breakdown 1
  • # of Units: 3
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,102
  • Total Rent: $2,924
  • Pro Forma/Market Rent: $9,150
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 10.9
  • Gross Scheduled Income: --
  • Net Operating Income: $43,920
  • Gross Operating Income: $109,800
Annual Expense Breakdown
  • Total Operating Expense: --

Open Houses for 5816 Willoughby Ave

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Property Details for 5816 Willoughby Ave

Interior Features
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • Washer Included, Dryer Included
Kitchen Information
  • Has Appliances
  • Dishwasher
Interior Features
  • Ceiling Fan(s)
  • Levels: Multi/Split
Exterior Features
Exterior Information
  • Other Structures: Shed(s)
Lot Details / Garage and Parking
Parking/Garage Information
  • Has Parking
  • Parking Features: Gated
Property Information
  • Total # of Units: 3
  • Parcel Number: 5534029005
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: 5816 WILLOUGHBY AVE, LOS ANGELES, CA 90038
View more facts & features

Local Los Angeles Agent

Sale History for 5816 Willoughby Ave

Last sold for $126,500 on January 31st, 1994

  • August, 2024

  • Aug 1, 2024

    Date

    Active

    CRMLS: 24427151

    $1,200,000

    Price

  • January, 1994

  • Jan 31, 1994

    Date

    Sold (Public Records)

    Public Records

    $126,500

    Price

  • January, 1994

  • Jan 31, 1994

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 5816 Willoughby Ave

Assessed Value (2020): $195,796
Year Land Value Improved Value Assessed Value
2020 $139,859 $55,937 $195,796

Home Value Compared to the Market

This property vs the competition

5816 Willoughby Ave is listed 0% higher than the median list price for the city of Los Angeles which has a median list price of $1,200,000. The median price per/sqft for Los Angeles is $768 and this home is listed at $532.39 per/sqft which puts the price per square foot 30.68% lower than the median price per square foot for the city of Los Angeles.

About 5816 Willoughby Ave

Detailed summary of property

5816 Willoughby Ave is a multi family located in Los Angeles, CA 90038 and is currently for sale. This multi family property offers 6 bedrooms, 3 bathrooms, roughly 2,254 living square feet, and sits on an approximately 6,493 square foot lot. 5816 Willoughby Ave was first listed on ArdentRealEstateGroup.com on August 13, 2024. The homeowner is currently asking $1,200,000. The median priced home in Los Angeles is $1,200,000 with a median price per square foot of $768. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 0% higher than the median priced home. Local competing homes currently for sale include 4938 Maplewood Ave, 4843 Rosewood Ave and 5432 La Mirada Ave. While the average home in Los Angeles, CA is selling in 106 days, 5816 Willoughby Ave has a days on market of 44 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 5816 Willoughby 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 5816 Willoughby Ave

Public county record property details
Beds
5
Baths
3
Year built
1916
Sq. Ft.
2,254
Lot Size
6,490
Stories
--
Type
Triplex (3 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
7
APN
5534-029-005

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
47
Median Sale to List Price %
90.83%
Avg Days on Market
48
Loan Type
Conventional (0%), FHA (0%), VA (0%), Cash (25%), Other (0%)

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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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