676 S Rampart Blvd, Los Angeles, CA 90057
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676 S Rampart Blvd Los Angeles, CA 90057

$5,450,000
  • 8 Beds
  • 32 Baths
  • 17,680 Sq.Ft.
For Sale
$5,450,000 Get Pre-Qualified

Map preview of 676 S Rampart Blvd, Los Angeles, CA 90057

Property Overview: 676 S Rampart Blvd Los Angeles, CA has 8 bedrooms, 32 bathrooms, 17,680 living square feet and 6,000 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: Just reduced $310,000! Seller is motivated!! This 32 unit building built in 1962 offers 24-Singles and 8-One Bedrooms. The buyer can assume the existing loan at 4.55% fixed until May 2026 with an approximate loan balance of $2,239,053. Seller states that the property has all new electrical panels and is separately metered for each unit. Tenants pay their own trash. Over 50% of the units have been remodeled with all new paint, flooring and stainless steel appliances.

Listed by Henry Garcia | BRE #01303784 | Equity Union
Last checked: 4 minutes ago | Last updated: July 8th, 2024 | Source CRMLS | DOM: 36
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Home details

Lot Sq. Ft
6,000
HOA Dues
$0/mo
Year built
1916
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24402841
City
Los Angeles
County
Los Angeles
Time on Site
37 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 32
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 24
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,239
  • Total Rent: $29,747
  • Pro Forma/Market Rent: $45,000
Unit Breakdown 2
  • # of Units: 8
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,350
  • Total Rent: $10,798
  • Pro Forma/Market Rent: $16,800
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5.15%
  • Gross Rent Multiplier: 11.72
  • Gross Scheduled Income: --
  • Net Operating Income: $296,912
  • Gross Operating Income: $476,753
Annual Expense Breakdown
  • Total Operating Expense: --

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Property Details for 676 S Rampart Blvd

Interior Features
Cooling Information
  • Has Cooling
  • Wall/Window Unit(s)
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • Community
Kitchen Information
  • Has Appliances
Interior Features
  • Levels: Three Or More
Lot Details / Garage and Parking
Parking/Garage Information
  • No
  • Parking Features: None
Property Information
  • Total # of Units: 32
  • Parcel Number: 5141008011
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: Near the corner of Hoover and 7th St
View more facts & features

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Sale History for 676 S Rampart Blvd

Last sold for $4,100,000 on July 11th, 2018
  • June, 2024

  • Jun 11, 2024

    Date

    Active

    CRMLS: 24402841

    $5,760,000

    Price

  • May, 2023

  • May 6, 2023

    Date

    Expired

    CRMLS: SR23024374

    $6,300,000

    Price

  • Feb 12, 2023

    Date

    Active

    CRMLS: SR23024374

    $6,300,000

    Price

  • Listing provided courtesy of CRMLS

    Weichert, Realtors® - All Stars is proud to offer for sale The Avalon Apartments, a 32 unit apartment building located at 676 S. Rampart Blvd. Originally constructed in 1926 in the Art Deco style, The Avalon Apartments is situated near Koreatown. This striking 4-story structure is comprised of 32 units each individually metered for both gas and electric, including 24 studios, and 8 one bedroom/one bathroom units. This offering presents a unique opportunity to acquire a vintage asset that offers strong cash flow and strong upside in the rental income. The Avalon Apartments is ideally positioned to take advantage of a strong rental market. All the units have undergone significant renovation, including energy- efficient stainless steel appliances, cabinetry, and backsplashes in the kitchen. The apartments maintain the vintage essence of a 1920s Art Deco style building with concrete-wall construction. The Avalon Apartments provides investors with the opportunity to purchase a multi-family asset with significant upside at a projected capitalization rate of 6.77%. The exterior was recently painted and new planters were incorporated into the landscaping. Interior renovations include wood flooring throughout the common area, an intercom system, and security cameras throughout the property. Amenities at The Avalon include an elevator, and on-site laundry room. Adjacent to trendy Koreatown with an array of shopping and dining amenities, The Avalon Apartments are located just minutes away. Local schools include Frank Del Olmo Elementary School, Commonwealth Avenue Elementary School and Virgil Middle School. Local transportation includes the Metro Wilshire/Western station servicing the Purple Line and the Metro Wilshire/Vermont station servicing the Red Line. Both stations are within less than one mile from The Avalon Apartments.

  • February, 2023

  • Feb 21, 2023

    Date

    Expired

    CRMLS: 22204065

    $5,700,000

    Price

  • Sep 29, 2022

    Date

    Active

    CRMLS: 22204065

    $6,100,000

    Price

  • Listing provided courtesy of CRMLS

    We are pleased to offer for sale a 32-unit apartment community located at 676 S Rampart Blvd. Ideally located just west of MacArthur Park, the property boasts a great unit mix of twenty-four (24) studios and eight (8) one bedrooms. The building itself is a four-story building on a 5,997 square-foot lot and the rentable square feet checks in at approximately 17,680 square feet. This asset offers an investor a tremendous opportunity to purchase a well-maintained, well-located asset with exceptional value-add potential. Based on our calculations, the rental upside is right around 50%, which gives the buyer plenty of opportunity to increase income as tenants move out and increase their returns. Another very intriguing aspect of this property is that it is separately metered for gas & electricity, meaning that tenants are responsible for their own utility usage. This rare opportunity is perfect for long-term investor who is looking to place their money into a well-located asset with great future potential. If you are interested in this property, please give us a call today to discuss the opportunity.

  • June, 2022

  • Jun 4, 2022

    Date

    Expired

    CRMLS: 22136373

    $6,304,000

    Price

  • Mar 14, 2022

    Date

    Active

    CRMLS: 22136373

    $6,304,000

    Price

  • Listing provided courtesy of CRMLS

    676 Rampart Blvd. is a beautiful Beau Arts style apartment property located in Mid-Wilshire/Koreatown just a half-block south of Wilshire Blvd. The immediate area is one of the most interesting and investment rich locations in Los Angeles with new developments like the Kurve on Wilshire and registered historic trophy apartments like the Wilshire Royale, Bryson and The Town House dotting the skyline. The iconic Art Deco Bullocks Wilshire historic-cultural monument is just a few blocks away from 676 Rampart, purchased and adapted by Southwestern Law School in 1994. Ownership estimates that about one-third of the units have been renovated, offering real value-add opportunity on the majority of apartments. The building is separately metered for electricity and is plumbed for separate gas meters but currently master metered. About 34% upside in rents is projected given today's loss to lease and further NOI growth is possible by implementing a RUBS program on turnover. The property is subject to the Los Angeles Rent Stabilization Ordinance and features a common laundry area for the tenants' use. Available as a portfolio with 5607 Virginia Ave. (24 units). Visit the Property Website or contact the Listing Team for the Offering Memorandum.

  • July, 2018

  • Jul 11, 2018

    Date

    Sold (Public Records)

    Public Records

    $4,100,000

    Price

  • July, 2015

  • Jul 31, 2015

    Date

    Sold (Public Records)

    Public Records

    $2,800,000

    Price

Show More

Tax History for 676 S Rampart Blvd

Assessed Value (2020): $3,045,878
Year Land Value Improved Value Assessed Value
2020 $2,164,864 $881,014 $3,045,878

Home Value Compared to the Market

This property vs the competition

676 S Rampart Blvd is listed 354.17% higher 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 $773 and this home is listed at $308.26 per/sqft which puts the price per square foot 60.12% lower than the median price per square foot for the city of Los Angeles.

About 676 S Rampart Blvd

Detailed summary of property

676 S Rampart Blvd is a multi family located in Los Angeles, CA 90057 and is currently for sale. This multi family property offers 8 bedrooms, 32 bathrooms, roughly 17,680 living square feet, and sits on an approximately 6,000 square foot lot. 676 S Rampart Blvd was first listed on ArdentRealEstateGroup.com on June 11, 2024. The homeowner is currently asking $5,450,000 and was originally asking $5,760,000. The median priced home in Los Angeles is $1,200,000 with a median price per square foot of $773. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 354.17% higher than the median priced home. Local competing homes currently for sale include 201 N Normandie Ave, 722 S Manhattan Pl and 3421 Larissa Dr. While the average home in Los Angeles, CA is selling in 101 days, 676 S Rampart Blvd has a days on market of 36 days. There are currently 4052 homes for sale in the Los Angeles real estate market and 2723 of them are single family homes while 1208 of them are condos and 114 are townhomes. For more information on this home for sale at 676 S Rampart Blvd Los Angeles, CA 90057 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 676 S Rampart Blvd

Public county record property details
Beds
--
Baths
--
Year built
1916
Sq. Ft.
17,680
Lot Size
5,997
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
12
APN
5141-008-011

The source for these homes facts are from public records.

90057 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$680,000
Median List Price/Sq.Ft.
$544
Median Sold Price
$390,000
Median Sold Price/Sq.Ft.
$488
Total Inventory
17
Median Sale to List Price %
100%
Avg Days on Market
22
Loan Type
Conventional (0%), FHA (0%), VA (0%), Cash (0%), Other (0%)

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Related Resources to 676 S Rampart Blvd

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.