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7040 Flight Ave, Los Angeles, CA 90045
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7040 Flight Ave Los Angeles, CA 90045

$5,499,000 Sold Price as of 07/08/2022
  • 17 Beds
  • 17 Baths
  • 10,000 Sq.Ft.
Sold
$5,499,000 Sold Price as of 07/08/2022 Refinance Your Mortgage
Map preview of 7040 Flight Ave, Los Angeles, CA 90045

Property Overview: 7040 Flight Ave Los Angeles, CA has 17 bedrooms, 17 bathrooms, 10,000 living square feet and 7,199 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: A 10,000 square foot investment opportunity, superior to most investment properties in The Westside and South Bay. Built in 1992, the building is 30 years newer than the typical apartment property in Greater LA. The layout, unit mix and amenities are superior to competing rental product; therefore, the building commands a top-of-the-market rent, always. Not subject to the city of LA "pre-1978 construction" rent control, either! 9 HUGE townhome-style units eight 2 Bed/2.5 Baths and one up-and-down 1 Bed/1 Bath. Controlled-access lobby. On-grade, secured parking structure off the alley with 19 spots. Almost a 4% cap with modest rent increases that are due, frankly. The Seller doesn't raise rents, so, lots of meat on the bone. LAX, SoFi Stadium, The Forum, Howard Hughes Center (Univision and Sony Pictures), DirecTV, Raytheon, Northrop Grumman, LA Times HQ -all just minutes away.

Listed by Brice Head | BRE #01330706 | Marcus & Millichap
Last checked: 15 minutes ago | Last updated: July 26th, 2022 | Source CRMLS | DOM: 31

Home details

Lot Sq. Ft
7,199
HOA Dues
$0/mo
Year built
1992
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
22165277
City
Los Angeles
County
Los Angeles
Time on Site
705 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 9
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $2,700
  • Total Rent: $2,700
  • Pro Forma/Market Rent: $3,000
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $2,700
  • Total Rent: $2,700
  • Pro Forma/Market Rent: $3,000
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $2,700
  • Total Rent: $2,700
  • Pro Forma/Market Rent: $3,000
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $2,700
  • Total Rent: $2,700
  • Pro Forma/Market Rent: $3,000
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $2,500
  • Total Rent: $2,500
  • Pro Forma/Market Rent: $3,000
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $2,700
  • Total Rent: $2,700
  • Pro Forma/Market Rent: $3,000
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $2,700
  • Total Rent: $2,700
  • Pro Forma/Market Rent: $3,000
Unit Breakdown 8
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,830
  • Total Rent: $1,830
  • Pro Forma/Market Rent: $2,500
Unit Breakdown 9
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $2,530
  • Total Rent: $2,530
  • Pro Forma/Market Rent: $3,000
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 19.7
  • Gross Scheduled Income: --
  • Net Operating Income: $168,788
  • Gross Operating Income: $276,720
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 7040 Flight Ave

Interior Features
Cooling Information
  • No Cooling
  • None
Heating Information
  • Has Heating
  • Forced Air
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 19
  • Has Parking
  • Parking Features: Parking Space
Lot Information
  • Lot Size Source: Assessor
Property Information
  • Total # of Units: 9
  • Parcel Number: 4103008009
Location / Neighborhood
Location Information
  • Directions: Exit 405N to S La Tijera Blvd, turn left on to Thornburn Street, and right on to Flight Ave.
View more facts & features

Local Los Angeles Agent

Sale History for 7040 Flight Ave

Last sold for $5,499,000 on July 8th, 2022

  • July, 2022

  • Jul 8, 2022

    Date

    Sold

    CRMLS: 22165277

    $5,499,000

    Price

  • Jun 7, 2022

    Date

    Active

    CRMLS: 22165277

    $5,499,000

    Price

  • December, 1993

  • Dec 15, 1993

    Date

    Sold (Public Records)

    Public Records

    $814,756

    Price

Show More

Tax History for 7040 Flight Ave

Assessed Value (2020): $397,288
Year Land Value Improved Value Assessed Value
2020 $139,000 $258,288 $397,288

Home Value Compared to the Market

This property vs the competition

7040 Flight Ave sold on July 8, 2022 for 362.1% 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 $549.9 per/sqft which puts the price per square foot 27.17% lower than the current median sale per square foot for the city of Los Angeles.

About 7040 Flight Ave

Detailed summary of property

7040 Flight Ave is a multi family that recently sold in Los Angeles, CA 90045. This multi family property offered 17 bedrooms, 17 bathrooms, roughly 10,000 living square feet, and sits on an approximately 7,199 square foot lot. 7040 Flight Ave was first listed on ArdentRealEstateGroup.com on June 7, 2022. The homeowner sold the property for $5,499,000. 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 362.1% higher than the current median priced home. Local homes that are currently for sale include 9025 W 3rd St, 10705 S Figueroa St and 1600 Camden Ave. While the average home in Los Angeles, CA is selling in 93 days, 7040 Flight Ave has a days on market of 31 days. There are currently 3618 homes for sale in the Los Angeles real estate market and 2437 of them are single family homes while 1084 of them are condos and 92 are townhomes. For more information on this home for sale at 7040 Flight Ave Los Angeles, CA 90045 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 7040 Flight Ave

Public county record property details
Beds
19
Baths
--
Year built
1992
Sq. Ft.
10,000
Lot Size
7,199
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
9
APN
4103-008-009

The source for these homes facts are from public records.

90045 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,649,999
Median List Price/Sq.Ft.
$874
Median Sold Price
$1,510,000
Median Sold Price/Sq.Ft.
$880
Total Inventory
98
Median Sale to List Price %
103.78%
Avg Days on Market
37
Loan Type
Conventional (28.57%), FHA (0%), VA (0%), Cash (28.57%), Other (7.14%)

Thinking of Selling?

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(714) 706-1823

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Recently Sold Homes Near 7040 Flight Ave

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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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