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7224 Hillside Ave, Los Angeles, CA 90046
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7224 Hillside Ave Los Angeles, CA 90046

$19,600,000 Sold Price as of 11/16/2022
  • 61 Beds
  • 57 Baths
  • 47,832 Sq.Ft.
Sold
$19,600,000 Sold Price as of 11/16/2022 Refinance Your Mortgage
Map preview of 7224 Hillside Ave, Los Angeles, CA 90046

Property Overview: 7224 Hillside Ave Los Angeles, CA has 61 bedrooms, 57 bathrooms, 47,832 living square feet and 24,459 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: The property features 47,832 square feet of gross rentable area, situated on a large 24,459-square foot lot. The 39-unit plus 1 non-conforming unit building is composed of 20 one-bedroom/one-bathroom units, 2 one-bedroom/two-bathroom units, 14 two-bedroom/two-bathroom units, and 3 three-bedroom/two-bathroom units, in addition to 1 two-bedroom/one-bathroom non-conforming unit. The building is well maintained and offers on-site laundry, gym, pool, gated parking and rooftop for tenants to enjoy.

Listed by Tony Azzi | BRE #00910513 | Tony Azzi
Last checked: 14 minutes ago | Last updated: November 18th, 2022 | Source CRMLS | DOM: 43

Home details

Lot Sq. Ft
24,459
HOA Dues
$0/mo
Year built
1961
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
22172797
City
Los Angeles
County
Los Angeles
Time on Site
692 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 39
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 2
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $3,165
  • Total Rent: $6,330
  • Pro Forma/Market Rent: $6,395
Unit Breakdown 2
  • # of Units: 14
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $3,163
  • Total Rent: $44,286
  • Pro Forma/Market Rent: $60,635
Unit Breakdown 3
  • # of Units: 3
  • # of Beds: 3
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $4,465
  • Total Rent: $13,396
  • Pro Forma/Market Rent: $14,385
Unit Breakdown 4
  • # of Units: 20
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,266
  • Total Rent: $45,334
  • Pro Forma/Market Rent: $57,180
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,660
  • Total Rent: $1,660
  • Pro Forma/Market Rent: $2,300
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 3.8%
  • Gross Rent Multiplier: 15.76
  • Gross Scheduled Income: --
  • Net Operating Income: $797,552
  • Gross Operating Income: $1,326,689
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 7224 Hillside Ave

Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 52
  • Has Parking
  • Parking Features: Covered, Private
Lot Information
  • Lot Size Source: GIS Calculated
Property Information
  • Total # of Units: 39
  • Parcel Number: 5572031016
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Location / Neighborhood
Location Information
  • Directions: Between North Fuller Avenue and North La Brea Avenue
View more facts & features

Local Los Angeles Agent

Sale History for 7224 Hillside Ave

Last sold for $19,600,000 on November 16th, 2022

  • November, 2022

  • Nov 16, 2022

    Date

    Sold

    CRMLS: 22172797

    $19,600,000

    Price

  • Jun 27, 2022

    Date

    Active

    CRMLS: 22172797

    $21,000,000

    Price

  • December, 2013

  • Dec 10, 2013

    Date

    Sold (Public Records)

    Public Records

    $11,450,114

    Price

  • April, 2003

  • Apr 18, 2003

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 7224 Hillside Ave

Assessed Value (2020): $12,834,254
Year Land Value Improved Value Assessed Value
2020 $7,229,776 $5,604,478 $12,834,254

Home Value Compared to the Market

This property vs the competition

7224 Hillside Ave sold on November 16, 2022 for 1664.71% 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 $439.04 per/sqft which puts the price per square foot 41.85% lower than the current median sale per square foot for the city of Los Angeles.

About 7224 Hillside Ave

Detailed summary of property

7224 Hillside Ave is a multi family that recently sold in Los Angeles, CA 90046. This multi family property offered 61 bedrooms, 57 bathrooms, roughly 47,832 living square feet, and sits on an approximately 24,459 square foot lot. 7224 Hillside Ave was first listed on ArdentRealEstateGroup.com on June 27, 2022. The homeowner sold the property for $19,600,000. 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 1664.71% higher than the current median priced home. While the average home in Los Angeles, CA is selling in 92 days, 7224 Hillside Ave has a days on market of 43 days. There are currently 3712 homes for sale in the Los Angeles real estate market and 2493 of them are single family homes while 1120 of them are condos and 93 are townhomes. For more information on this home for sale at 7224 Hillside Ave Los Angeles, CA 90046 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 7224 Hillside Ave

Public county record property details
Beds
--
Baths
--
Year built
1961
Sq. Ft.
47,832
Lot Size
24,459
Stories
--
Type
Apartment House (5+ Units)
Pool
Yes
Spa
No
County
Los Angeles
Lot#
18,22
APN
5572-031-016

The source for these homes facts are from public records.

90046 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,965,000
Median List Price/Sq.Ft.
$938
Median Sold Price
$2,000,000
Median Sold Price/Sq.Ft.
$856
Total Inventory
231
Median Sale to List Price %
117.72%
Avg Days on Market
34
Loan Type
Conventional (2.7%), FHA (0%), VA (0%), Cash (13.51%), Other (2.7%)

Thinking of Selling?

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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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