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5870 Franklin Ave, Los Angeles, CA 90028
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5870 Franklin Ave Los Angeles, CA 90028

$8,512,500 Sold Price as of 01/14/2022
  • 14 Beds
  • 38 Baths
  • 29,440 Sq.Ft.
Sold
$8,512,500 Sold Price as of 01/14/2022 Refinance Your Mortgage
Map preview of 5870 Franklin Ave, Los Angeles, CA 90028

Property Overview: 5870 Franklin Ave Los Angeles, CA has 14 bedrooms, 38 bathrooms, 29,440 living square feet and 9,169 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Listed by Michael Sterman | BRE #01911703 | Marcus & Millichap
Last checked: 12 minutes ago | Last updated: March 23rd, 2022 | Source CRMLS | DOM: 43

Home details

Lot Sq. Ft
9,169
HOA Dues
$0/mo
Year built
1928
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
21748886
City
Los Angeles
County
Los Angeles
Time on Site
1193 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 38
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 3
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $598
  • Total Rent: $1,793
  • Pro Forma/Market Rent: $3,900
Unit Breakdown 2
  • # of Units: 21
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,210
  • Total Rent: $25,415
  • Pro Forma/Market Rent: $33,600
Unit Breakdown 3
  • # of Units: 14
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,402
  • Total Rent: $19,634
  • Pro Forma/Market Rent: $25,200
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 15.57
  • Gross Scheduled Income: --
  • Net Operating Income: $296,494
  • Gross Operating Income: $565,104
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 5870 Franklin Ave

Interior Features
Heating Information
  • Has Heating
  • Wall Furnace
Lot Details / Garage and Parking
Parking/Garage Information
  • No
  • Parking Features: None
Property Information
  • Total # of Units: 38
  • Parcel Number: 5586028010
Location / Neighborhood
Location Information
  • Directions: On the southeast corner of Franklin and Bronson
View more facts & features

Local Los Angeles Agent

Sale History for 5870 Franklin Ave

Last sold for $8,512,500 on January 14th, 2022

  • July, 2021

  • Jul 14, 2021

    Date

    Pending

    CRMLS: 21748886

    $8,800,000

    Price

  • Jun 14, 2021

    Date

    Active

    CRMLS: 21748886

    $8,800,000

    Price

Tax History for 5870 Franklin Ave

Assessed Value (2020): $612,699
Year Land Value Improved Value Assessed Value
2020 $103,400 $509,299 $612,699

Home Value Compared to the Market

This property vs the competition

5870 Franklin Ave sold on January 14, 2022 for 685.71% 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 $298.91 per/sqft which puts the price per square foot 58.71% lower than the current median sale per square foot for the city of Los Angeles.

About 5870 Franklin Ave

Detailed summary of property

5870 Franklin Ave is a multi family that recently sold in Los Angeles, CA 90028. This multi family property offered 14 bedrooms, 38 bathrooms, roughly 29,440 living square feet, and sits on an approximately 9,169 square foot lot. 5870 Franklin Ave was first listed on ArdentRealEstateGroup.com on June 14, 2021. The homeowner sold the property for $8,512,500. 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 685.71% higher than the current median priced home. Local homes that are currently for sale include 520 W 120th St, 7531 Knott Ave and 826 N Barranca Ave. While the average home in Los Angeles, CA is selling in 106 days, 5870 Franklin Ave has a days on market of 43 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 5870 Franklin Ave Los Angeles, CA 90028 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 5870 Franklin Ave

Public county record property details
Beds
16
Baths
--
Year built
1928
Sq. Ft.
29,440
Lot Size
9,169
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
9,10
APN
5586-028-010

The source for these homes facts are from public records.

90028 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,099,000
Median List Price/Sq.Ft.
$695
Median Sold Price
$1,015,000
Median Sold Price/Sq.Ft.
$728
Total Inventory
51
Median Sale to List Price %
101.5%
Avg Days on Market
32
Loan Type
Conventional (0%), FHA (0%), VA (0%), Cash (0%), Other (0%)

Thinking of Selling?

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Thinking of Selling?
Call, Text or Message
(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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