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716 N Van Ness Ave, Los Angeles, CA 90038
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716 N Van Ness Ave Los Angeles, CA 90038

$1,550,000
  • 4 Beds
  • 4 Baths
  • 3,932 Sq.Ft.
For Sale
$1,550,000 Get Pre-Qualified
Map preview of 716 N Van Ness Ave, Los Angeles, CA 90038

Property Overview: 716 N Van Ness Ave Los Angeles, CA has 4 bedrooms, 4 bathrooms, 3,932 living square feet and 6,731 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: Great Location! Four Plex in Prime location just North of Melrose. Zoned LAR3 . There are four 1 bdrm + I bthrm units in the Bldg., plus Two garages with one car parking for each unit. All units are occupied. The Bldg. is approx 6792 sq ft. Walk to stores, restaurants and shops. Tree lined St. with parking. With strong current income and future rental upside potential, this property offers significant value. All units are separately metered for gas and electricity. See DOCS for Rent Roll & Financials. Tenant occupied property shown by the agent only . Inside with accepted offer. Pls do not disturb the Tenants. Seller is selling this property in its present as-is condition and will not be making repairs or improvements. Financial information is provided by Property Owner and not guaranteed by Agent or Seller. Buyer to confirm financial information and property condition through inspections during escrow. This property is covered by City of Los Angeles Rent Control, Buyer to fully investigate. Agent Most of the 4 units have been updated. Recent upgrades include some plumbing,newer electrical in some units. it's worth noting it's location is close to west Hollywood shopping, the Grove and Holywood. Plenty of upside in current rents. The Bldg. has been managed by its owners. , Priced to sell!.

Listed by Richard M Chernock | BRE #01369553 | KW Advisors
Last checked: 3 minutes ago | Last updated: May 4th, 2024 | Source CRMLS | DOM: 12
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Home details

Lot Sq. Ft
6,731
HOA Dues
$0/mo
Year built
1928
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24385079
City
Los Angeles
County
Los Angeles
Time on Site
13 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,080
  • Total Rent: $2,080
  • Pro Forma/Market Rent: $2,300
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,283
  • Total Rent: $2,238
  • Pro Forma/Market Rent: $2,300
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,179
  • Total Rent: $2,179
  • Pro Forma/Market Rent: $2,300
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $970
  • Total Rent: $970
  • Pro Forma/Market Rent: $2,300
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 3.5%
  • Gross Rent Multiplier: 14.97
  • Gross Scheduled Income: --
  • Net Operating Income: $47,278
  • Gross Operating Income: $87,440
Annual Expense Breakdown
  • Total Operating Expense: --

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Property Details for 716 N Van Ness Ave

Interior Features
Cooling Information
  • Has Cooling
  • Wall/Window Unit(s)
Heating Information
  • Has Heating
  • Central, Forced Air
Laundry Information
  • Has Laundry
  • Washer Included, Dryer Included
Room Information
  • Flooring: Wood, Tile
  • Living Room, Primary Bathroom
Kitchen Information
  • Has Appliances
  • Dishwasher, Refrigerator, Oven
Interior Features
  • Levels: Two
  • Security Features: Gated Community, Window Bars
Exterior Features
Exterior Information
  • Roof: Composition
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 4
  • Has Parking
  • Parking Features: Garage
Lot Information
  • Lot Features: Yard, Utilities - Overhead, Front Yard
Property Information
  • No View
  • View: None
  • Total # of Units: 4
  • Parcel Number: 5535002003
  • Entry Level: 1
  • Foundation Details: Combination
  • Accessibility Features: None
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Sewer Paid
  • Water Source: Public
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: North of Melrose Ave. on N. Van Ness
View more facts & features

Local Los Angeles Agent

Sale History for 716 N Van Ness Ave

Last sold on August 30th, 2011

  • April, 2024

  • Apr 26, 2024

    Date

    Active

    CRMLS: 24385079

    $1,350,000

    Price

  • August, 2011

  • Aug 30, 2011

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 716 N Van Ness Ave

Assessed Value (2020): $154,252
Year Land Value Improved Value Assessed Value
2020 $69,566 $84,686 $154,252

Home Value Compared to the Market

This property vs the competition

716 N Van Ness Ave is listed 24.1% 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 $774 and this home is listed at $394.2 per/sqft which puts the price per square foot 49.07% lower than the median price per square foot for the city of Los Angeles.

About 716 N Van Ness Ave

Detailed summary of property

716 N Van Ness Ave is a multi family located in Los Angeles, CA 90038 and is currently for sale. This multi family property offers 4 bedrooms, 4 bathrooms, roughly 3,932 living square feet, and sits on an approximately 6,731 square foot lot. 716 N Van Ness Ave was first listed on ArdentRealEstateGroup.com on April 27, 2024. The homeowner is currently asking $1,550,000 and was originally asking $1,350,000. The median priced home in Los Angeles is $1,249,000 with a median price per square foot of $774. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 24.1% higher than the median priced home. Local competing homes currently for sale include 5449 S Virginia Ave, 800 N Hobart Blvd and 810 N Hobart Blvd. While the average home in Los Angeles, CA is selling in 93 days, 716 N Van Ness Ave has a days on market of 12 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 716 N Van Ness 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 716 N Van Ness Ave

Public county record property details
Beds
4
Baths
4
Year built
1928
Sq. Ft.
3,932
Lot Size
6,728
Stories
--
Type
Quadruplex (4 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
4
APN
5535-002-003

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
$1,299,000
Median List Price/Sq.Ft.
$706
Median Sold Price
$715,000
Median Sold Price/Sq.Ft.
$659
Total Inventory
42
Median Sale to List Price %
79.44%
Avg Days on Market
17
Loan Type
Conventional (0%), FHA (0%), VA (0%), Cash (50%), Other (0%)

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Homes for Sale Near 716 N Van Ness Ave

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Recently Sold Homes Near 716 N Van Ness Ave

762 N Van Ness Ave, Los Angeles, CA 90038
$1,810,000 Last Sold Price
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15 Baths
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762 N Van Ness Ave
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749 N Wilton Pl, Los Angeles, CA 90038
$1,200,000 Last Sold Price
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749 N Wilton Pl
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606 N Van Ness Ave, Los Angeles, CA 90004
$999,000 Last Sold Price
2 Beds
2 Baths
994 Sq.Ft.
606 N Van Ness Ave
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651 N Wilton Pl, Los Angeles, CA 90004
$1,011,100 Last Sold Price
9 Beds
9 Baths
2140 Sq.Ft.
651 N Wilton Pl
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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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