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695 S Norton Ave, Los Angeles, CA 90005
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695 S Norton Ave Los Angeles, CA 90005

$3,350,000 Sold Price as of 01/04/2022
  • 16 Beds
  • 17 Baths
  • 11,647 Sq.Ft.
Sold
$3,350,000 Sold Price as of 01/04/2022 Refinance Your Mortgage
Map preview of 695 S Norton Ave, Los Angeles, CA 90005

Property Overview: 695 S Norton Ave Los Angeles, CA has 16 bedrooms, 17 bathrooms, 11,647 living square feet and 7,041 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: We are pleased to present the opportunity to acquire 695 S. Norton Avenue, a 9-unit multifamily investment property located in the heart of Wilshire Park, a prime rental market in a Mid-Wilshire neighborhood that is adjacent to Koreatown.Built in 1965, the property offers nearly 11,650 square feet of living space across a renter friendly unit mix featuring six (6) two-bedroom, two-bath units, two (2) two-bedroom, two-bath units with a den, and one (1) studio. The two-bedroom units feature spacious floorplans averaging approximately 1,325 feet each.The property sits on a 7,040 square foot lot and consists of one three- story structure above an on-grade, gated, and secure parking structure. The well-maintained, three-story building sits in a quiet neighborhood lined with mainly single-family homes. Along with on-site parking, the property also features an on-site laundry room that is paired with exceptional curb appeal making it an ideal living space for urban tenants.The subject property is ideally suited to a value-add upgrade program. Investors will have the opportunity the opportunity to implement a systematic renovation program, focused on revenue generating improvements, to reposition the property among market leaders and increase rental income by approximately 25 percent.

Listed by Oscar Diaz | BRE #02022902 | Marcus & Millichap
Co-listed by Roderick 'Rick' Raymundo | BRE #01357019 | Marcus & Millichap
Last checked: 4 minutes ago | Last updated: June 5th, 2023 | Source CRMLS | DOM: 96

Home details

Lot Sq. Ft
7,041
HOA Dues
$0/mo
Year built
1965
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
21790424
City
Los Angeles
County
Los Angeles
Time on Site
960 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 9
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 8
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $2,093
  • Total Rent: $16,747
  • Pro Forma/Market Rent: $21,400
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $848
  • Total Rent: $848
  • Pro Forma/Market Rent: $1,350
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 3.36%
  • Gross Rent Multiplier: 16.95
  • Gross Scheduled Income: --
  • Net Operating Income: $122,798
  • Gross Operating Income: $215,340
  • Laundry Income: $3,000
  • Other Income 1: $215,340
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 695 S Norton Ave

Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 12
  • Has Parking
  • Parking Features: Subterranean
Lot Information
  • Lot Size Source: Assessor
Property Information
  • Total # of Units: 9
  • Parcel Number: 5092007010
  • Year Built Source: Assessor
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Location / Neighborhood
Location Information
  • Directions: Desirable Location in Wilshire Park - Near the Intersection of Wilshire Blvd & S Western Ave
View more facts & features

Local Los Angeles Agent

Sale History for 695 S Norton Ave

Last sold for $3,350,000 on January 4th, 2022

  • January, 2022

  • Jan 4, 2022

    Date

    Sold

    CRMLS: 21790424

    $3,350,000

    Price

  • Sep 30, 2021

    Date

    Active

    CRMLS: 21790424

    $3,650,000

    Price

  • May, 2021

  • May 8, 2021

    Date

    Expired

    CRMLS: SR20234233

    $3,750,000

    Price

  • Nov 17, 2020

    Date

    Active

    CRMLS: SR20234233

    $3,750,000

    Price

  • Listing provided courtesy of CRMLS

    Opportunity knocking!!!! This great investment property will increase your investment portfolio with 9 units! The perfect area for tenants to commute. Conveniently located within walking distance to shopping centers, grocery stores, restaurants, coffee shops, banks, parks, gas stations, Metro Line, schools, museums. Gated with parking and laundry area. Perfect investment property for any investor. Property will be delivered occupied with existing tenants. PLEASE DO NOT WALK ON PROPERTY OR DISTURB TENANTS! Listing info deemed reliable, but not guaranteed. No warranties expressed or implied.

  • September, 2020

  • Sep 23, 2020

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • July, 2001

  • Jul 23, 2001

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 695 S Norton Ave

Assessed Value (2020): $430,684
Year Land Value Improved Value Assessed Value
2020 $49,099 $381,585 $430,684

Home Value Compared to the Market

This property vs the competition

695 S Norton Ave sold on January 4, 2022 for 206.72% higher 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 $313.39 per/sqft which puts the price per square foot 58.49% lower than the current median sale per square foot for the city of Los Angeles.

About 695 S Norton Ave

Detailed summary of property

695 S Norton Ave is a multi family that recently sold in Los Angeles, CA 90005. This multi family property offered 16 bedrooms, 17 bathrooms, roughly 11,647 living square feet, and sits on an approximately 7,041 square foot lot. 695 S Norton Ave was first listed on ArdentRealEstateGroup.com on October 1, 2021. The homeowner sold the property for $3,350,000. 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 206.72% higher than the current median priced home. Local homes that are currently for sale include 743 S Berendo St, 1930 S Oxford Ave and 2203 4th Ave. While the average home in Los Angeles, CA is selling in 92 days, 695 S Norton Ave has a days on market of 96 days. There are currently 3712 homes for sale in the Los Angeles real estate market and 2493 of them are single family homes while 1120 of them are condos and 93 are townhomes. For more information on this home for sale at 695 S Norton Ave Los Angeles, CA 90005 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 695 S Norton Ave

Public county record property details
Beds
18
Baths
17
Year built
1965
Sq. Ft.
11,647
Lot Size
7,040
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
7-8
APN
5092-007-010

The source for these homes facts are from public records.

90005 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$835,000
Median List Price/Sq.Ft.
$665
Median Sold Price
$720,000
Median Sold Price/Sq.Ft.
$621
Total Inventory
35
Median Sale to List Price %
100.14%
Avg Days on Market
62
Loan Type
Conventional (0%), FHA (0%), VA (0%), Cash (16.67%), Other (0%)

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Recently Sold Homes Near 695 S Norton Ave

811 S Norton Ave, Los Angeles, CA 90005
$2,185,000 Last Sold Price
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5 Baths
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811 S Norton Ave
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707 Crenshaw Blvd, Los Angeles, CA 90005
$2,100,000 Last Sold Price
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731 Crenshaw Blvd
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830 S Norton Ave, Los Angeles, CA 90005
$1,360,000 Last Sold Price
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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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