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606 Chestnut Ave, Los Angeles, CA 90042
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606 Chestnut Ave Los Angeles, CA 90042

$5,000,000
  • 340 Beds
  • 340 Baths
  • 12,400 Sq.Ft.
For Sale
$5,000,000 Get Pre-Qualified
Map preview of 606 Chestnut Ave, Los Angeles, CA 90042

Property Overview: 606 Chestnut Ave Los Angeles, CA has 340 bedrooms, 340 bathrooms, 12,400 living square feet and 18,730 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: We are pleased to present a 17 units apartment building located at 606 Chestnut Drive Los Angeles. As it is located in highland park, it is very close to South Pasadena. It is a 17-unit property priced at a current 4.93% Cap Rate; this property is being offered for sale for the first time since 1992. The units are comprised of all One Bedroom units, which are very large and average over 650 square feet each! The building has a gated access private parking lot in the back as well as parking for 18 cars, 17 cars for the tenants and 1 parking space for the property manager. The subject property is also separately metered for gas and electricity which helps keep expenses to a minimum. 606 Chestnut Drive is conveniently located just minutes from South Pasadena, and Downtown Los Angeles, with easy access to the parks and freeways. There are schools, shops, restaurants and amenities nearby, making this an ideal location for renters.

Listed by Meiling Wan | BRE #01994615 | Signature One Realty Group, Inc
Co-listed by Chris Saunders | BRE #02015357 | Signature One Realty Group, Inc
Last checked: 15 minutes ago | Last updated: August 16th, 2024 | Source CRMLS | DOM: 58

Home details

Lot Sq. Ft
18,730
HOA Dues
$0/mo
Year built
1973
Garage
--
Property Type:
Mixed Use
Status
Active
MLS#
OC24139116
City
Los Angeles
County
Los Angeles
Time on Site
61 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 17
  • Total # of Buildings: 1
  • # of Electric Meters: 17
  • # of Gas Meters: 17
  • # of Water Meters: 0
Unit Breakdown 1
  • # of Units: 17
  • # of Beds: 20
  • # of Baths: 20
  • Total Rent: --
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $317,148
  • Net Operating Income: $271,379
  • Gross Operating Income: --
  • Laundry Income: $3,600
Annual Expense Breakdown
  • Total Operating Expense: $45,769
  • Trash: $1,000
  • Insurance: $4,620
  • Professional Management: $3,000
  • Water/Sewer: $13,176

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Property Details for 606 Chestnut Ave

Interior Features
Laundry Information
  • Has Laundry
  • Individual Room
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Lot Information
  • Lot Features: 36-40 Units/Acre
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 17
  • Parcel Number: 5493034027
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is not Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: use GPS
Neighborhood Information
  • Community Features: Sidewalks
View more facts & features

Local Los Angeles Agent

Sale History for 606 Chestnut Ave

Last sold on April 18th, 2013

  • July, 2024

  • Jul 9, 2024

    Date

    Active

    CRMLS: OC24139116

    $5,500,000

    Price

  • April, 2013

  • Apr 18, 2013

    Date

    Sold (Public Records)

    Public Records

    --

    Price

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Tax History for 606 Chestnut Ave

Assessed Value (2020): $979,704
Year Land Value Improved Value Assessed Value
2020 $564,351 $415,353 $979,704

Home Value Compared to the Market

This property vs the competition

606 Chestnut Ave is listed 317.01% higher than the median list price for the city of Los Angeles which has a median list price of $1,199,000. The median price per/sqft for Los Angeles is $765 and this home is listed at $403.23 per/sqft which puts the price per square foot 47.29% lower than the median price per square foot for the city of Los Angeles.

About 606 Chestnut Ave

Detailed summary of property

606 Chestnut Ave is a mixed use located in Los Angeles, CA 90042 and is currently for sale. This mixed use property offers 340 bedrooms, 340 bathrooms, roughly 12,400 living square feet, and sits on an approximately 18,730 square foot lot. 606 Chestnut Ave was first listed on ArdentRealEstateGroup.com on July 8, 2024. The homeowner is currently asking $5,000,000 and was originally asking $5,500,000. The median priced home in Los Angeles is $1,199,000 with a median price per square foot of $765. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 317.01% higher than the median priced home. Local competing homes currently for sale include 527 N Anna Dr, 13811 Cherry and 2071 S Mountain View Ave. While the average home in Los Angeles, CA is selling in 106 days, 606 Chestnut Ave has a days on market of 58 days. There are currently 3972 homes for sale in the Los Angeles real estate market and 2715 of them are single family homes while 1139 of them are condos and 113 are townhomes. For more information on this home for sale at 606 Chestnut Ave Los Angeles, CA 90042 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 606 Chestnut Ave

Public county record property details
Beds
20
Baths
20
Year built
1973
Sq. Ft.
12,400
Lot Size
18,763
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
8,10,12
APN
5493-034-027

The source for these homes facts are from public records.

90042 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$995,000
Median List Price/Sq.Ft.
$765
Median Sold Price
$1,210,001
Median Sold Price/Sq.Ft.
$863
Total Inventory
100
Median Sale to List Price %
121.12%
Avg Days on Market
29
Loan Type
Conventional (20%), FHA (0%), VA (0%), Cash (16.67%), Other (16.67%)

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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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