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7050 6Th Ave Los Angeles, CA 90043

$1,425,000 Sold Price as of 05/09/2019

11 Beds
8 Baths
4,980 Sq.Ft.

Sold

$1,425,000 Sold Price as of 05/09/2019 Refinance Your Mortgage

Map preview of 7050 6Th Ave, Los Angeles, CA 90043

Property Overview: 7050 6Th Ave Los Angeles, CA has 11 bedrooms, 8 bathrooms, 4,980 living square feet and 5,498 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: We are pleased to offer this eight (8) unit multifamily investment offering, located in the City of Los Angeles. The subject property contains 5,136 square feet of building area on an 11,349 square foot lot. The unit mix consists of five (5) 1+1, two (2) 2+1 , and one (1) 2+2 units. Recent upgrades to the property include new exterior paint (2017), new landscaping (2017), and six (6) units were recently renovated within the last year with laminate floors, new tile, new cabinetry and granite countertops. Building amenities include a new electric gate opener with secured entry and gated on-site parking with thirteen (13) spaces, on-site laundry room for additional income, and the property is separately metered for gas & electricity.

Listed by Ian Hollinger | BRE #01889125 | BRC Advisors- BH

Last checked: 3 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 62

Home details

Lot Sq. Ft: 5,498
HOA Dues: $0/mo
Year built: 1954
Garage: --
Property Type:: Multi Family

Status: Sold
MLS#: 19427366
City: Los Angeles
County: Los Angeles
Time on Site: 1235 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 8
Total # of Buildings: 1

Unit Breakdown 1

# of Units: 1
# of Beds: 1
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $584
Total Rent: $584
Pro Forma/Market Rent: $1,500

Unit Breakdown 2

# of Units: 1
# of Beds: 1
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,380
Total Rent: $1,380
Pro Forma/Market Rent: $1,500

Unit Breakdown 3

# of Units: 1
# of Beds: 1
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $959
Total Rent: $959
Pro Forma/Market Rent: $1,500

Unit Breakdown 4

# of Units: 1
# of Beds: 2
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,695
Total Rent: $1,695
Pro Forma/Market Rent: $1,900

Unit Breakdown 5

# of Units: 1
# of Beds: 1
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,316
Total Rent: $1,316
Pro Forma/Market Rent: $1,500

Unit Breakdown 6

# of Units: 1
# of Beds: 1
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,196
Total Rent: $1,196
Pro Forma/Market Rent: $1,500

Unit Breakdown 7

# of Units: 1
# of Beds: 2
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,645
Total Rent: $1,645
Pro Forma/Market Rent: $1,900

Unit Breakdown 8

# of Units: 1
# of Beds: 2
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,750
Total Rent: $1,750
Pro Forma/Market Rent: $1,900

Multi-Family Income/Expense Information

Property Income and Analysis

Cap Rate: 5.82%
Gross Rent Multiplier: 11.48
Gross Scheduled Income: --
Net Operating Income: $84,449
Gross Operating Income: $123,818

Annual Expense Breakdown

Total Operating Expense: --

Property Details for 7050 6Th Ave

Interior Features

Cooling Information

No Cooling
None

Laundry Information

No Laundry
None

Kitchen Information

No Appliances
None

Lot Details / Garage and Parking

Parking/Garage Information

Has Parking
Parking Features: Carport

Property Information

Total # of Units: 8
Parcel Number: 4008024012

Location / Neighborhood

Location Information

Directions: The property is South of Slauson Avenue, North of Florence Avenue, West of Crenshaw Boulevard and East of West Boulevard.

View more facts & features

Local Los Angeles Agent

Sale History for 7050 6Th Ave

Last sold for $1,425,000 on May 9th, 2019

May, 2019
May 9, 2019

Date

Sold

CRMLS: 19427366

$1,425,000

Price
Mar 27, 2019

Date

Pending

CRMLS: 19427366

$1,450,000

Price
Jan 24, 2019

Date

Active

CRMLS: 19427366

$1,450,000

Price
May, 2019
May 9, 2019

Date

Sold (Public Records)

Public Records

$1,425,000

Price
May, 2019
May 1, 2019

Date

Expired

CRMLS: 19426044

$1,450,000

Price
Jan 24, 2019

Date

Withdrawn

CRMLS: 19426044

$1,450,000

Price
Jan 23, 2019

Date

Active

CRMLS: 19426044

$1,450,000

Price
Listing provided courtesy of CRMLS
July, 2015
Jul 7, 2015

Date

Sold (Public Records)

Public Records

$985,000

Price

Tax History for 7050 6Th Ave

Assessed Value (2020): $1,453,500

Year	Land Value	Improved Value	Assessed Value
2020	$1,020,000	$433,500	$1,453,500

Home Value Compared to the Market

This property vs the competition

7050 6Th Ave sold on May 9, 2019 for 21.85% 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 $291.16 per/sqft which puts the price per square foot 61.44% lower than the current median sale per square foot for the city of Los Angeles.

About 7050 6Th Ave

Detailed summary of property

7050 6Th Ave is a multi family that recently sold in Los Angeles, CA 90043. This multi family property offered 11 bedrooms, 8 bathrooms, roughly 4,980 living square feet, and sits on an approximately 5,498 square foot lot. 7050 6Th Ave was first listed on ArdentRealEstateGroup.com on January 13, 2021. The homeowner sold the property for $1,425,000. 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 21.85% higher than the current median priced home. Local homes that are currently for sale include 1042 W 84th Pl, 1050 W 57th St and 4136 Leimert Blvd. While the average home in Los Angeles, CA is selling in 95 days, 7050 6Th Ave has a days on market of 62 days. There are currently 3751 homes for sale in the Los Angeles real estate market and 2535 of them are single family homes while 1119 of them are condos and 91 are townhomes. For more information on this home for sale at 7050 6Th Ave Los Angeles, CA 90043 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 7050 6Th Ave

Public county record property details

Beds: 11
Baths: 8
Year built: 1954
Sq. Ft.: 4,980
Lot Size: 5,498
Stories: --

Type: Apartment House (5+ Units)
Pool: No
Spa: No
County: Los Angeles
Lot#: 10,11
APN: 4008-024-012

The source for these homes facts are from public records.

90043 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$900,000

Median List Price/Sq.Ft.

$624

Median Sold Price

$1,155,000

Median Sold Price/Sq.Ft.

$718

Total Inventory

Median Sale to List Price %

101.76%

Avg Days on Market

Loan Type

Conventional (22.22%), FHA (11.11%), VA (0%), Cash (5.56%), Other (11.11%)

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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.