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702 W 81St St, Los Angeles, CA 90044
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702 W 81St St Los Angeles, CA 90044

$1,850,000 Sold Price as of 08/23/2022
  • 18 Beds
  • 11 Baths
  • 8,040 Sq.Ft.
Sold
$1,850,000 Sold Price as of 08/23/2022 Refinance Your Mortgage
Map preview of 702 W 81St St, Los Angeles, CA 90044

Property Overview: 702 W 81St St Los Angeles, CA has 18 bedrooms, 11 bathrooms, 8,040 living square feet and 9,308 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 two 11-unit multifamily communities located at 702 West 81st Street and 626 West 81st Street that can be sold together or separate. The subject properties are walking distance to multiple transit options, facilitating residents the ability to travel throughout Los Angeles and provides convenient access to daily errands and retail options. Positioned just four miles from the University of Southern California and 3.7 miles from the Forum and the SoFi Stadium, 626 and 702 West 81st Street are located south of Florence Avenue and East of Vermont Avenue near the 110 freeway. Built in 1965, 626 West 81st Street consists of seven two-bedroom units and four one-bedroom units and offers eight parking spaces. Two units will be delivered vacant, providing investors an immediate value-add opportunity. Built in 1961, 702 West 81st Street also consists of seven two-bedroom units and four one-bedroom units and offers eight parking spaces. Investors will have the opportunity to acquire a value-add investment with 90% upside through unit renovations.

Listed by Sean Rosenzweig | BRE #01406343 | Marcus & Millichap
Last checked: 15 minutes ago | Last updated: September 2nd, 2022 | Source CRMLS | DOM: 67

Home details

Lot Sq. Ft
9,308
HOA Dues
$0/mo
Year built
1961
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
22142429
City
Los Angeles
County
Los Angeles
Time on Site
911 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 11
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 4
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $857
  • Total Rent: $3,429
  • Pro Forma/Market Rent: $6,800
Unit Breakdown 2
  • # of Units: 7
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,020
  • Total Rent: $7,143
  • Pro Forma/Market Rent: $13,300
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 3.09%
  • Gross Rent Multiplier: 16.55
  • Gross Scheduled Income: --
  • Net Operating Income: $64,799
  • Gross Operating Income: $123,958
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 702 W 81St St

Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 8
  • Has Parking
  • Parking Features: Covered
Lot Information
  • Lot Size Source: Assessor
Property Information
  • Total # of Units: 11
  • Parcel Number: 6032023004
  • Year Built Source: Assessor
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Location / Neighborhood
Location Information
  • Directions: West of the 110, East of Hoover Street, North of Manchester Avenue
View more facts & features

Local Los Angeles Agent

Sale History for 702 W 81St St

Last sold for $1,850,000 on August 23rd, 2022

  • August, 2022

  • Aug 23, 2022

    Date

    Sold

    CRMLS: 22142429

    $1,850,000

    Price

  • Apr 1, 2022

    Date

    Active

    CRMLS: 22142429

    $2,100,000

    Price

Tax History for 702 W 81St St

Assessed Value (2020): $161,356
Year Land Value Improved Value Assessed Value
2020 $29,113 $132,243 $161,356

Home Value Compared to the Market

This property vs the competition

702 W 81St St sold on August 23, 2022 for 87.5% higher than the current median sold price for the city of Los Angeles which is $1,120,000. The median sold price per/sqft for Los Angeles is $724 and this home is sold at $261.19 per/sqft which puts the price per square foot 63.92% lower than the current median sale per square foot for the city of Los Angeles.

About 702 W 81St St

Detailed summary of property

702 W 81St St is a multi family that recently sold in Los Angeles, CA 90044. This multi family property offered 18 bedrooms, 11 bathrooms, roughly 8,040 living square feet, and sits on an approximately 9,308 square foot lot. 702 W 81St St was first listed on ArdentRealEstateGroup.com on April 1, 2022. The homeowner sold the property for $1,850,000. Home in Los Angeles are selling for a median price of $1,120,000 and a median price per square foot of $724. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 87.5% higher than the current median priced home. Local homes that are currently for sale include 735 E 82nd St, 10324 S Broadway and 432 W 107th St. While the average home in Los Angeles, CA is selling in 106 days, 702 W 81St St has a days on market of 67 days. There are currently 4139 homes for sale in the Los Angeles real estate market and 2834 of them are single family homes while 1183 of them are condos and 115 are townhomes. For more information on this home for sale at 702 W 81St St Los Angeles, CA 90044 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 702 W 81St St

Public county record property details
Beds
18
Baths
11
Year built
1961
Sq. Ft.
8,040
Lot Size
9,307
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
179
APN
6032-023-004

The source for these homes facts are from public records.

90044 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$649,900
Median List Price/Sq.Ft.
$518
Median Sold Price
$717,000
Median Sold Price/Sq.Ft.
$513
Total Inventory
93
Median Sale to List Price %
102.58%
Avg Days on Market
27
Loan Type
Conventional (38.1%), FHA (23.81%), VA (0%), Cash (9.52%), Other (9.52%)

Thinking of Selling?

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Thinking of Selling?
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(714) 706-1823

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Recently Sold Homes Near 702 W 81St St

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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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