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6401 11Th Ave Los Angeles, CA 90043

$780,000 Sold Price as of 04/14/2023

5 Beds
4 Baths
2,835 Sq.Ft.

Sold

$780,000 Sold Price as of 04/14/2023 Refinance Your Mortgage

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Map preview of 6401 11Th Ave, Los Angeles, CA 90043

Property Overview: 6401 11Th Ave Los Angeles, CA has 5 bedrooms, 4 bathrooms, 2,835 living square feet and 7,573 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: As of Nov 15th price reduced and going in cap rate 5.10% and 12.7 GRM. Best income metrics in the area and priced to SELL. We are pleased to present 6401 11th Avenue, a 4-unit investment property in Los Angeles, California. The property is located between Hyde Park Boulevard and 63rd Street just around the corner from Hyde Park Elementary School. This area is a solid majority-renter market with low vacancy rates. 6401 11th Avenue consists of three 1 bedroom units and one 2 bedroom 1 bathroom unit. All of the units are separately metered for gas and electricity. The property also offers four single car garages. This offering presents a great opportunity for an investor to acquire an asset with steady cash flow in a strong rental market and capture potential upside in rents.

Listed by Jonathan Weir | BRE #02038545 | Marcus & Millichap

Last checked: 16 minutes ago | Last updated: April 14th, 2023 | Source CRMLS | DOM: 161

Home details

Lot Sq. Ft: 7,573
HOA Dues: $0/mo
Year built: 1939
Garage: --
Property Type:: Multi Family

Status: Sold
MLS#: 22208607
City: Los Angeles
County: Los Angeles
Time on Site: 580 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 4
Total # of Buildings: 1

Unit Breakdown 1

# of Units: 1
# of Beds: 1
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $955
Total Rent: $955
Pro Forma/Market Rent: $1,800

Unit Breakdown 2

# of Units: 1
# of Beds: 1
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,750
Total Rent: $1,750
Pro Forma/Market Rent: $1,800

Unit Breakdown 3

# of Units: 1
# of Beds: 1
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,285
Total Rent: $1,285
Pro Forma/Market Rent: $1,800

Unit Breakdown 4

# of Units: 1
# of Beds: 2
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,525
Total Rent: $1,525
Pro Forma/Market Rent: $2,250

Multi-Family Income/Expense Information

Property Income and Analysis

Cap Rate: 5.1%
Gross Rent Multiplier: 12.77
Gross Scheduled Income: --
Net Operating Income: $43,086
Gross Operating Income: $66,180

Annual Expense Breakdown

Total Operating Expense: --

Property Details for 6401 11Th Ave

Interior Features

Cooling Information

No Cooling
None

Heating Information

Has Heating
Wall Furnace

Lot Details / Garage and Parking

Parking/Garage Information

# of Parking Spaces: 4
Has Parking
Parking Features: Garage - Single Door

Property Information

Total # of Units: 4
Parcel Number: 4006010019

Homeowners Association, Utilities, Taxes / Assessments

Homeowners Association

Is Not Part of Association

Location / Neighborhood

Location Information

Directions: Hyde Park Blvd & 11th Ave

View more facts & features

Local Los Angeles Agent

Sale History for 6401 11Th Ave

Last sold for $780,000 on April 14th, 2023

April, 2023
Apr 14, 2023

Date

Sold

CRMLS: 22208607

$780,000

Price
Oct 13, 2022

Date

Active

CRMLS: 22208607

$925,000

Price
June, 2022
Jun 23, 2022

Date

Canceled

CRMLS: SB22069337

$894,000

Price
Apr 6, 2022

Date

Active

CRMLS: SB22069337

$925,000

Price
Listing provided courtesy of CRMLS

Fourplex situated on a large 7,573 sq ft lot in the Hyde Park neighborhood of Los Angeles. The property consists of Three 1Bd/1Ba and One 2Bd/1Ba units. All units are single-story and there are four garages in the back of the property. This is a value add deal with approximately 32% rental upside. Current cap rate is 4.71%, Market cap rate is 6.88%.

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April, 2022
Apr 4, 2022

Date

Canceled

CRMLS: SB22006063

$925,000

Price
Feb 25, 2022

Date

Price Change

CRMLS: SB22006063

$925,000

Price
Feb 24, 2022

Date

Active

CRMLS: SB22006063

$950,000

Price
Feb 18, 2022

Date

Pending

CRMLS: SB22006063

$950,000

Price
Listing provided courtesy of CRMLS

6401 11th Avenue is a terrific 4-unit investment property located in the booming Hyde Park market. This building is a great value-add play for today's astute investor, featuring almost 30% +/- projected rental upside. The unit mix features one 2 Bed / 1 Bath unit and three 1 Bed / 1 bath units, with a total building size of 2,835 square feet! Units are individually metered for gas and electricity, greatly reducing utility costs for an owner. The property sits on a large 7,573 square foot lot with R-3 zoning, and is located just minutes from the incoming Hyde Park metro station!

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October, 2010
Oct 15, 2010

Date

Sold (Public Records)

Public Records

$275,000

Price
November, 2009
Nov 18, 2009

Date

Sold (Public Records)

Public Records

$270,000

Price

Tax History for 6401 11Th Ave

Assessed Value (2020): $322,147

Year	Land Value	Improved Value	Assessed Value
2020	$240,148	$81,999	$322,147

Home Value Compared to the Market

This property vs the competition

6401 11Th Ave sold on April 14, 2023 for 28.99% lower than the current median sold price for the city of Los Angeles which is $1,190,000. The median sold price per/sqft for Los Angeles is $755 and this home is sold at $298.06 per/sqft which puts the price per square foot 60.52% lower than the current median sale per square foot for the city of Los Angeles.

About 6401 11Th Ave

Detailed summary of property

6401 11Th Ave is a multi family that recently sold in Los Angeles, CA 90043. This multi family property offered 5 bedrooms, 4 bathrooms, roughly 2,835 living square feet, and sits on an approximately 7,573 square foot lot. 6401 11Th Ave was first listed on ArdentRealEstateGroup.com on October 18, 2022. The homeowner sold the property for $780,000. Home in Los Angeles are selling for a median price of $1,190,000 and a median price per square foot of $755. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 28.99% lower than the current median priced home. Local homes that are currently for sale include 5739 S St. Andrews Pl, 1728 W 64th St and 1745 W 59th Pl. While the average home in Los Angeles, CA is selling in 93 days, 6401 11Th Ave has a days on market of 161 days. There are currently 3718 homes for sale in the Los Angeles real estate market and 2495 of them are single family homes while 1123 of them are condos and 94 are townhomes. For more information on this home for sale at 6401 11Th Ave Los Angeles, CA 90043 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 6401 11Th Ave

Public county record property details

Beds: 5
Baths: 4
Year built: 1939
Sq. Ft.: 2,835
Lot Size: 7,573
Stories: --

Type: Quadruplex (4 Units, Any Combination)
Pool: No
Spa: No
County: Los Angeles
Lot#: 260,261
APN: 4006-010-019

The source for these homes facts are from public records.

90043 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$965,000

Median List Price/Sq.Ft.

$612

Median Sold Price

$727,000

Median Sold Price/Sq.Ft.

$516

Total Inventory

Median Sale to List Price %

96.93%

Avg Days on Market

Loan Type

Conventional (25%), FHA (6.25%), VA (0%), Cash (31.25%), Other (6.25%)

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(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.