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7003 Willoughby Ave, Los Angeles, CA 90038
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7003 Willoughby Ave Los Angeles, CA 90038

$1,450,000
  • 20 Beds
  • 10 Baths
  • 4,620 Sq.Ft.
Pending
$1,450,000 Get Pre-Qualified
Map preview of 7003 Willoughby Ave, Los Angeles, CA 90038

Property Overview: 7003 Willoughby Ave Los Angeles, CA has 20 bedrooms, 10 bathrooms, 4,620 living square feet and 4,934 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: First time on the market in 47 years. An incredible investment/developer opportunity to own a 4-unit income property in close proximity to West Hollywood, the Melrose District and bustling North Sycamore Avenue. Rare MR1 zoning! Four 2 bed + 1 bath units with original hardwood floors and 1920's Hollywood charm. All 4 units are occupied. Property needs foundational work. Property to be sold AS-IS with 4 tenants in place and no credits for repairs. Terrific opportunity for investment with rental upside potential or significant development potential. This is a probate sale - agents, please see private remarks. Property is subject to City of LA Rent Stabilization Ordinance. Drive-by only; do not disturb occupants.

Listed by Tanya Friedman | BRE #01792192 | Atllas, Inc.
Co-listed by Ranit Efron | BRE #02057220 | Atllas, Inc.
Last checked: 11 minutes ago | Last updated: April 15th, 2024 | Source CRMLS | DOM: 29
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Home details

Lot Sq. Ft
4,934
HOA Dues
$0/mo
Year built
1928
Garage
--
Property Type:
Multi Family
Status
Pending
MLS#
24364657
City
Los Angeles
County
Los Angeles
Time on Site
46 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 3
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,950
  • Total Rent: $1,950
  • Pro Forma/Market Rent: $2,000
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,260
  • Total Rent: $1,260
  • Pro Forma/Market Rent: $1,800
Unit Breakdown 3
  • # of Units: 2
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,600
  • Total Rent: $1,600
  • Pro Forma/Market Rent: $2,000
Unit Breakdown 4
  • # of Units: 4
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,650
  • Total Rent: $1,650
  • Pro Forma/Market Rent: $2,000
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 19.9
  • Gross Scheduled Income: --
  • Net Operating Income: $77,520
  • Gross Operating Income: $77,520
Annual Expense Breakdown
  • Total Operating Expense: --
  • New Taxes: $8,000
  • Water/Sewer: $3,000

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Property Details for 7003 Willoughby Ave

Interior Features
Cooling Information
  • No Cooling
  • None
Laundry Information
  • Has Laundry
  • Washer Included, Dryer Included
Kitchen Information
  • Has Appliances
  • Refrigerator
Interior Features
  • Levels: Two
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 4
Property Information
  • Total # of Units: 4
  • Parcel Number: 5532010046
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: East of La Brea, North of Melrose, West of Orange
View more facts & features

Local Los Angeles Agent

Sale History for 7003 Willoughby Ave

View property's historical transactions

  • April, 2024

  • Apr 14, 2024

    Date

    Pending

    CRMLS: 24364657

    $1,450,000

    Price

  • Mar 11, 2024

    Date

    Active

    CRMLS: 24364657

    $1,575,000

    Price

Tax History for 7003 Willoughby Ave

Assessed Value (2020): $658,571
Year Land Value Improved Value Assessed Value
2020 $475,607 $182,964 $658,571

Home Value Compared to the Market

This property vs the competition

7003 Willoughby Ave is listed 16.09% higher than the median list price for the city of Los Angeles which has a median list price of $1,249,000. The median price per/sqft for Los Angeles is $772 and this home is listed at $313.85 per/sqft which puts the price per square foot 59.35% lower than the median price per square foot for the city of Los Angeles.

About 7003 Willoughby Ave

Detailed summary of property

7003 Willoughby Ave is a multi family located in Los Angeles, CA 90038 and is currently in escrow to be sold. This multi family property offers 20 bedrooms, 10 bathrooms, roughly 4,620 living square feet, and sits on an approximately 4,934 square foot lot. 7003 Willoughby Ave was first listed on ArdentRealEstateGroup.com on March 11, 2024. The homeowner is currently asking $1,450,000 and was originally asking $1,575,000. The median priced home in Los Angeles is $1,249,000 with a median price per square foot of $772. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 16.09% higher than the median priced home. Local competing homes currently for sale include 1120 N Van Ness Ave, 5415 Monroe St and 5633 La Mirada Ave. While the average home in Los Angeles, CA is selling in 97 days, 7003 Willoughby Ave has a days on market of 29 days. There are currently 3429 homes for sale in the Los Angeles real estate market and 2324 of them are single family homes while 1008 of them are condos and 91 are townhomes. For more information on this home for sale at 7003 Willoughby Ave Los Angeles, CA 90038 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 7003 Willoughby Ave

Public county record property details
Beds
8
Baths
4
Year built
1928
Sq. Ft.
4,620
Lot Size
4,938
Stories
--
Type
Quadruplex (4 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
30
APN
5532-010-046

The source for these homes facts are from public records.

90038 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,375,000
Median List Price/Sq.Ft.
$714
Median Sold Price
$1,110,000
Median Sold Price/Sq.Ft.
$629
Total Inventory
39
Median Sale to List Price %
94.87%
Avg Days on Market
34
Loan Type
Conventional (33.33%), FHA (0%), VA (0%), Cash (33.33%), Other (0%)

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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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