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6223 S Van Ness Ave, Los Angeles, CA 90047
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6223 S Van Ness Ave Los Angeles, CA 90047

$800,000
  • 7 Beds
  • 5 Baths
  • 3,082 Sq.Ft.
For Sale
$800,000 Get Pre-Qualified
Map preview of 6223 S Van Ness Ave, Los Angeles, CA 90047

Property Overview: 6223 S Van Ness Ave Los Angeles, CA has 7 bedrooms, 5 bathrooms, 3,082 living square feet and 6,003 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 4-unit property located in the Hyde Park neighborhood. This property is centrally located in close proximity to LAX, Sofi Stadium, Downtown Los Angeles, the Convention Center, USC Coliseum, and multiple museums. This opportunity is also a short drive to Crenshaw/Leimert Park, Inglewood and provides easy access to the 105 & 110 freeways as well as the new LAX/Crenshaw metro rail line, offering tenants convenience to numerous nearby amenities. The building currently operates at a 13.68 GRM on current rents, with rental upside potential to a 6.47 GRM and a 12+% CAP on pro-forma rents. The property consists of three standalone structures, all constructed in 1936, with a strong unit mix comprised of 1 three-bedroom two-bath unit, 1 two-bedroom one-bath unit, and 2 one-bedroom one-bath units. The property also features five 1-car garages in the rear accessible from the alley providing potential for ADU conversions.

Listed by Casey Lins | BRE #01902650 | Kidder Mathews of California, Inc.
Last checked: 13 minutes ago | Last updated: August 29th, 2024 | Source CRMLS | DOM: 70

Home details

Lot Sq. Ft
6,003
HOA Dues
$0/mo
Year built
1936
Garage
5 Car
Property Type:
Multi Family
Status
Active
MLS#
24413695
City
Los Angeles
County
Los Angeles
Time on Site
70 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 3
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $1,706
  • Total Rent: $1,706
  • Pro Forma/Market Rent: $3,200
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,160
  • Total Rent: $1,160
  • Pro Forma/Market Rent: $2,700
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $978
  • Total Rent: $978
  • Pro Forma/Market Rent: $2,200
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,030
  • Total Rent: $1,030
  • Pro Forma/Market Rent: $2,200
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.71%
  • Gross Rent Multiplier: 13.68
  • Gross Scheduled Income: --
  • Net Operating Income: $37,669
  • Gross Operating Income: $58,469
Annual Expense Breakdown
  • Total Operating Expense: --

Open Houses for 6223 S Van Ness Ave

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Property Details for 6223 S Van Ness Ave

Interior Features
Cooling Information
  • No Cooling
  • None
Heating Information
  • Has Heating
  • Wall Furnace
Kitchen Information
  • Has Appliances
Interior Features
  • Levels: Two
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 5
  • # of Parking Spaces: 5
Lot Information
  • Lot Size Source: Assessor
Property Information
  • Total # of Units: 4
  • Parcel Number: 4007022017
  • Year Built Source: Assessor
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: Google Maps: 6223 S Van Ness Ave, Los Angeles, CA 90047
View more facts & features

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Sale History for 6223 S Van Ness Ave

Last sold for $385,000 on February 20th, 2013

  • July, 2024

  • Jul 10, 2024

    Date

    Active

    CRMLS: 24413695

    $800,000

    Price

  • July, 2021

  • Jul 10, 2021

    Date

    Expired

    CRMLS: DW20135118

    $825,000

    Price

  • Jun 15, 2021

    Date

    Hold

    CRMLS: DW20135118

    $825,000

    Price

  • Jun 15, 2021

    Date

    Active

    CRMLS: DW20135118

    $825,000

    Price

  • May 17, 2021

    Date

    Hold

    CRMLS: DW20135118

    $825,000

    Price

  • May 15, 2021

    Date

    Active

    CRMLS: DW20135118

    $825,000

    Price

  • Jan 26, 2021

    Date

    Hold

    CRMLS: DW20135118

    $825,000

    Price

  • Jan 11, 2021

    Date

    Price Change

    CRMLS: DW20135118

    $825,000

    Price

  • Aug 27, 2020

    Date

    Price Change

    CRMLS: DW20135118

    $830,000

    Price

  • Jul 10, 2020

    Date

    Active

    CRMLS: DW20135118

    $850,000

    Price

  • Listing provided courtesy of CRMLS

    PRICE REDUCED, STANDARD SALE, GOOD INCOME PROPERTY,, SELLER VERY MOTIVATED, ALL UNITS RENTED, RENT CONTROL AREA, BREAD AND BUTTER UNITS, GOOD FOR OWNER USE, PLEASE DO NOT CONTACT TENANTS, CLOSE TO TRANSPORTATION, CENTRALLY LOCATED.

  • February, 2013

  • Feb 20, 2013

    Date

    Sold (Public Records)

    Public Records

    $385,000

    Price

  • August, 2009

  • Aug 18, 2009

    Date

    Sold (Public Records)

    Public Records

    $315,000

    Price

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Tax History for 6223 S Van Ness Ave

Assessed Value (2020): $433,498
Year Land Value Improved Value Assessed Value
2020 $225,195 $208,303 $433,498

Home Value Compared to the Market

This property vs the competition

6223 S Van Ness Ave is listed 33.33% lower 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 $259.57 per/sqft which puts the price per square foot 66.2% lower than the median price per square foot for the city of Los Angeles.

About 6223 S Van Ness Ave

Detailed summary of property

6223 S Van Ness Ave is a multi family located in Los Angeles, CA 90047 and is currently for sale. This multi family property offers 7 bedrooms, 5 bathrooms, roughly 3,082 living square feet, and sits on an approximately 6,003 square foot lot. 6223 S Van Ness Ave was first listed on ArdentRealEstateGroup.com on July 10, 2024. The homeowner is currently asking $800,000. 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 33.33% lower than the median priced home. Local competing homes currently for sale include 1745 59th Pl, 5721 7th Ave and 1722 W 59th Pl. While the average home in Los Angeles, CA is selling in 106 days, 6223 S Van Ness Ave has a days on market of 70 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 6223 S Van Ness Ave Los Angeles, CA 90047 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 6223 S Van Ness Ave

Public county record property details
Beds
6
Baths
5
Year built
1936
Sq. Ft.
3,082
Lot Size
6,000
Stories
--
Type
Quadruplex (4 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
29,30
APN
4007-022-017

The source for these homes facts are from public records.

90047 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$750,000
Median List Price/Sq.Ft.
$566
Median Sold Price
$795,000
Median Sold Price/Sq.Ft.
$561
Total Inventory
106
Median Sale to List Price %
99.39%
Avg Days on Market
43
Loan Type
Conventional (37.5%), FHA (45.83%), VA (0%), Cash (8.33%), Other (4.17%)

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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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