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704 W Florence Ave, Los Angeles, CA 90044
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704 W Florence Ave Los Angeles, CA 90044

$850,000 Sold Price as of 02/04/2022
  • 4 Beds
  • 6 Baths
  • 3,592 Sq.Ft.
Sold
$850,000 Sold Price as of 02/04/2022 Refinance Your Mortgage
Map preview of 704 W Florence Ave, Los Angeles, CA 90044

Property Overview: 704 W Florence Ave Los Angeles, CA has 4 bedrooms, 6 bathrooms, 3,592 living square feet and 6,266 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Fell out of escrow due to buyer not seller. This is a great property. Investors dream, 4 residential units, 2 commercial units all in a highly desired area of South Los Angeles. Near 110 Fwy and many shopping and food locations. Each residential unit consists of 1 bedroom 1 bathroom, living room, kitchen and large storage closet. All units are tenant occupied. 1 commercial unit has been a beauty salon for over 25 years and a newly built snack shop currently occupied as a snack shop. Property features parking in front through Florence Ave for the commercial units and in the rear through alley way for residential units.

Listed by Elvira Meraz | BRE #02113055 | Master Key Real Estate
Last checked: 11 minutes ago | Last updated: March 23rd, 2022 | Source CRMLS | DOM: 217

Home details

Lot Sq. Ft
6,266
HOA Dues
$0/mo
Year built
1923
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
DW21021270
City
Los Angeles
County
Los Angeles
Time on Site
1325 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 6
  • Total # of Buildings: 2
  • # of Leased Units: 6
  • # of Electric Meters: 6
  • # of Gas Meters: 5
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $815
  • Total Rent: $815
  • Pro Forma/Market Rent: $1,200
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,000
  • Total Rent: $1,000
  • Pro Forma/Market Rent: $1,200
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,200
  • Total Rent: $1,200
  • Pro Forma/Market Rent: $1,200
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,000
  • Total Rent: $1,000
  • Pro Forma/Market Rent: $1,200
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $900
  • Total Rent: $900
  • Pro Forma/Market Rent: $900
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,200
  • Total Rent: $1,200
  • Pro Forma/Market Rent: $1,200
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $73,380
  • Net Operating Income: $59,310
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $13,890
  • New Taxes: $5,610
  • Trash: $2,880
  • Insurance: $900
  • Professional Management: $0
  • Water/Sewer: $4,500

Property Details for 704 W Florence Ave

Interior Features
Cooling Information
  • No Cooling
  • None
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • No Laundry
  • None
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Lot Information
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Source: Public Records
  • Common Interest: None
Property Information
  • Common Walls: 1 Common Wall
  • Total # of Units: 6
  • Parcel Number: 6020027005
  • Year Built Source: Public Records
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: West of Figueroa East of Hoover St
Neighborhood Information
  • Community Features: Urban
View more facts & features

Local Los Angeles Agent

Sale History for 704 W Florence Ave

Last sold for $850,000 on February 4th, 2022

  • February, 2022

  • Feb 4, 2022

    Date

    Sold

    CRMLS: DW21021270

    $850,000

    Price

  • Sep 1, 2021

    Date

    Price Change

    CRMLS: DW21021270

    $850,000

    Price

  • Sep 1, 2021

    Date

    Active

    CRMLS: DW21021270

    $849,999

    Price

  • Jun 5, 2021

    Date

    Sold

    CRMLS: DW21021270

    $850,000

    Price

  • Apr 14, 2021

    Date

    Active Under Contract

    CRMLS: DW21021270

    $849,999

    Price

  • Mar 2, 2021

    Date

    Pending

    CRMLS: DW21021270

    $849,999

    Price

  • Feb 1, 2021

    Date

    Active

    CRMLS: DW21021270

    $849,999

    Price

  • January, 2021

  • Jan 30, 2021

    Date

    Expired

    CRMLS: DW20209570

    $899,999

    Price

  • Nov 25, 2020

    Date

    Price Change

    CRMLS: DW20209570

    $899,999

    Price

  • Oct 6, 2020

    Date

    Active

    CRMLS: DW20209570

    $949,999

    Price

  • Listing provided courtesy of CRMLS

    Investors dream, 4 residential units, 2 commercial units all in a highly desired area of South Los Angeles. Near 110 Fwy and many shopping and food locations. Each residential unit consists of 1 bedroom 1 bathroom, living room, kitchen and large storage closet. All units are tenant occupied. 1 commercial unit has been a beauty salon for over 25 years and a newly built snack shop currently occupied as a Fruit and healthy quick bites. Property features parking in front through Florence Ave for the commercial units and in the rear through alley way for residential units. This is a great investment won't last long!!

  • May, 2020

  • May 9, 2020

    Date

    Expired

    CRMLS: DW20015912

    $950,000

    Price

  • Jan 23, 2020

    Date

    Active

    CRMLS: DW20015912

    $950,000

    Price

  • Listing provided courtesy of CRMLS

    This mixed use property consists of 4 residential units in the back of to commercial units situated in the front. The front commercial units currently are being used as a hair salon and the other as a shaved ice, fruit and refreshment store. The 4 residential units are 1 bedroom 1 bath each. This is a perfect opportunity for a buyer who wants to run a business and live in one of the residential units or an investor as well. This is a rare mixed use residential opportunity.

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Tax History for 704 W Florence Ave

Assessed Value (2020): $415,591
Year Land Value Improved Value Assessed Value
2020 $249,354 $166,237 $415,591

Home Value Compared to the Market

This property vs the competition

704 W Florence Ave sold on February 4, 2022 for 24.11% lower 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 $236.64 per/sqft which puts the price per square foot 67.32% lower than the current median sale per square foot for the city of Los Angeles.

About 704 W Florence Ave

Detailed summary of property

704 W Florence Ave is a multi family that recently sold in Los Angeles, CA 90044. This multi family property offered 4 bedrooms, 6 bathrooms, roughly 3,592 living square feet, and sits on an approximately 6,266 square foot lot. 704 W Florence Ave was first listed on ArdentRealEstateGroup.com on February 2, 2021. The homeowner sold the property for $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 24.11% lower than the current median priced home. Local homes that are currently for sale include 317 W 76th St, 927 W Gage Ave and 821 W 62nd Street. While the average home in Los Angeles, CA is selling in 106 days, 704 W Florence Ave has a days on market of 217 days. There are currently 4052 homes for sale in the Los Angeles real estate market and 2782 of them are single family homes while 1148 of them are condos and 116 are townhomes. For more information on this home for sale at 704 W Florence Ave 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 704 W Florence Ave

Public county record property details
Beds
4
Baths
4
Year built
1923
Sq. Ft.
3,592
Lot Size
6,265
Stories
1
Type
Commercial/Office/Residential (Mixed Use)
Pool
No
Spa
No
County
Los Angeles
Lot#
5
APN
6020-027-005

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
$650,000
Median List Price/Sq.Ft.
$513
Median Sold Price
$717,000
Median Sold Price/Sq.Ft.
$513
Total Inventory
87
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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Call, Text or Message
(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.

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