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607 N La Fayette Park Pl, Los Angeles, CA 90026
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607 N La Fayette Park Pl Los Angeles, CA 90026

$1,580,000 Sold Price as of 08/30/2019
  • 6 Beds
  • 5 Baths
  • 3,774 Sq.Ft.
Sold
$1,580,000 Sold Price as of 08/30/2019 Refinance Your Mortgage
Map preview of 607 N La Fayette Park Pl, Los Angeles, CA 90026

Property Overview: 607 N La Fayette Park Pl Los Angeles, CA has 6 bedrooms, 5 bathrooms, 3,774 living square feet and 7,497 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: We are pleased to present a five unit multifamily property located at 607 North La Fayette Park Place, in Los Angeles, CA. The subject property has a great location in Silver Lake, just west of North Benton Way and north of Bellevue Avenue. The subject property features a great unit mix of four (4) one bedroom / one bathroom units, and one (1) two bedroom / one bathroom detached home in the back. The property has many amenities that residents will enjoy, such as a lovely curb appeal, a quiet residential neighborhood, ample on-site parking, and a well-maintained stucco exterior. The current rents on the property are almost 50% below market value, making this a true value-add opportunity.Any savvy investor looking for an excellent first time buy, owner/user opportunity, or a bite-sized value-add asset in one of Los Angeles' hottest rental markets, will be able to capitalize on the huge rental upside potential of this property.

Listed by Jason Tuvia | BRE #01772495 | Marcus & Millichap
Last checked: 3 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 62

Home details

Lot Sq. Ft
7,497
HOA Dues
$0/mo
Year built
1924
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
19469648
City
Los Angeles
County
Los Angeles
Time on Site
1267 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 5
  • Total # of Buildings: 2
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,950
  • Total Rent: $1,950
  • Pro Forma/Market Rent: $2,150
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,100
  • Total Rent: $1,100
  • Pro Forma/Market Rent: $2,150
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,165
  • Total Rent: $1,165
  • Pro Forma/Market Rent: $2,150
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,150
  • Total Rent: $2,150
  • Pro Forma/Market Rent: $2,150
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,069
  • Total Rent: $2,069
  • Pro Forma/Market Rent: $2,700
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.18%
  • Gross Rent Multiplier: 16.3
  • Gross Scheduled Income: --
  • Net Operating Income: $68,985
  • Gross Operating Income: $101,208
  • Improvements Total: $89,944
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 607 N La Fayette Park Pl

Interior Features
Laundry Information
  • Has Laundry
  • See Remarks
Lot Details / Garage and Parking
Parking/Garage Information
  • Has Parking
  • Parking Features: Parking Space
Lot Information
  • Lot Features: Sprinklers None
  • Lot Size Source: Assessor
Property Information
  • Total # of Units: 5
  • Parcel Number: 5402006003
Homeowners Association, Utilities, Taxes / Assessments
Assessment Information
  • No Assessments
  • Assessments: None
Location / Neighborhood
Location Information
  • Directions: The subject property has a great location in Silver Lake, just west of North Benton Way and north of Bellevue Avenue.
View more facts & features

Local Los Angeles Agent

Sale History for 607 N La Fayette Park Pl

Last leased for $1,600 on April 9th, 2021

  • April, 2021

  • Apr 13, 2021

    Date

    Leased

    CRMLS: 21707944

    $1,600

    Price

  • Apr 6, 2021

    Date

    Active

    CRMLS: 21707944

    $1,800

    Price

  • Listing provided courtesy of CRMLS

    Beautiful apartment building with six units in Silver Lake location. The property has a grass front yard with outdoor furniture to relax on right under the sun. It is in very close vicinity to Silver Lake Blvd where you can eat, and shop enjoying one of LA's most popular and chic towns.

  • September, 2019

  • Sep 10, 2019

    Date

    Sold

    CRMLS: 19469648

    $1,580,000

    Price

  • Jul 25, 2019

    Date

    Pending

    CRMLS: 19469648

    $1,650,000

    Price

  • Jul 8, 2019

    Date

    Price Change

    CRMLS: 19469648

    $1,650,000

    Price

  • May 23, 2019

    Date

    Active

    CRMLS: 19469648

    $1,700,000

    Price

  • August, 2019

  • Aug 30, 2019

    Date

    Sold (Public Records)

    Public Records

    $1,580,000

    Price

Show More

Tax History for 607 N La Fayette Park Pl

Assessed Value (2020): $1,580,340
Year Land Value Improved Value Assessed Value
2020 $1,000,000 $580,340 $1,580,340

Home Value Compared to the Market

This property vs the competition

607 N La Fayette Park Pl sold on August 30, 2019 for 29.51% higher than the current median sold price for the city of Los Angeles which is $1,274,000. The median sold price per/sqft for Los Angeles is $791 and this home is sold at $437.2 per/sqft which puts the price per square foot 44.73% lower than the current median sale per square foot for the city of Los Angeles.

About 607 N La Fayette Park Pl

Detailed summary of property

607 N La Fayette Park Pl is a multi family that recently sold in Los Angeles, CA 90026. This multi family property offered 6 bedrooms, 5 bathrooms, roughly 3,774 living square feet, and sits on an approximately 7,497 square foot lot. 607 N La Fayette Park Pl was first listed on ArdentRealEstateGroup.com on January 13, 2021. The homeowner sold the property for $1,580,000. Home in Los Angeles are selling for a median price of $1,274,000 and a median price per square foot of $791. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 29.51% higher than the current median priced home. Local homes that are currently for sale include 160 Union Pl, 4332 Lockwood Ave and 1143 N Commonwealth Ave. While the average home in Los Angeles, CA is selling in 100 days, 607 N La Fayette Park Pl has a days on market of 62 days. There are currently 3938 homes for sale in the Los Angeles real estate market and 2648 of them are single family homes while 1176 of them are condos and 106 are townhomes. For more information on this home for sale at 607 N La Fayette Park Pl Los Angeles, CA 90026 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 607 N La Fayette Park Pl

Public county record property details
Beds
10
Baths
5
Year built
1924
Sq. Ft.
3,774
Lot Size
7,492
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
1-4
APN
5402-006-003

The source for these homes facts are from public records.

90026 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,199,000
Median List Price/Sq.Ft.
$832
Median Sold Price
$1,796,500
Median Sold Price/Sq.Ft.
$802
Total Inventory
69
Median Sale to List Price %
112.99%
Avg Days on Market
18
Loan Type
Conventional (17.65%), FHA (0%), VA (0%), Cash (11.76%), Other (0%)

Thinking of Selling?

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Recently Sold Homes Near 607 N La Fayette Park Pl

619 N La Fayette Park Pl, Los Angeles, CA 90026
$2,825,000 Last Sold Price
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6 Baths
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619 N La Fayette Park Pl
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647-649 N La Fayette Park Pl, Los Angeles, CA 90026
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647-649 N La Fayette Park Pl
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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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