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812 N Martel Ave, Los Angeles, CA 90046
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812 N Martel Ave Los Angeles, CA 90046

$3,300,000 Sold Price as of 02/05/2024
  • 14 Beds
  • 14 Baths
  • 8,954 Sq.Ft.
Sold
$3,300,000 Sold Price as of 02/05/2024 Refinance Your Mortgage
Map preview of 812 N Martel Ave, Los Angeles, CA 90046

Property Overview: 812 N Martel Ave Los Angeles, CA has 14 bedrooms, 14 bathrooms, 8,954 living square feet and 8,217 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: We are pleased to present a ten (10) unit apartment building located at 812 North Martel Avenue in Los Angeles, California. The subject property is located in a prime Melrose location, north of Melrose Avenue and west of North La Brea Avenue. Built in 1964, Martel features a great unit mix of six (6) one-bedroom / one-bathroom units and four (4) two-bedroom / two-bathroom units. The units are large, averaging about 900 square feet each. Select units feature balconies, with views of the city. The building's envelope is a stone-deco architecture that is complimented by thoughtful landscaping and secured walkway entry to the units, and the parking. The building is fully parked with tuck-under parking that has been reinforced for seismic retrofitting in 2018. Some of the most notable places that tenants will enjoy close to the building are Pink's, Osteria Mozza, Blu Jam Caf, Ronan, Blue Bottle Coffee, among others. Situated in a prime pocket of Melrose, this offering presents an excellent opportunity for an astute investor to capitalize on strong rental upside, at very favorable entry pricing, in a mature and low-velocity market.

Listed by Jason Tuvia | BRE #01772495 | Marcus & Millichap
Last checked: 7 minutes ago | Last updated: February 6th, 2024 | Source CRMLS | DOM: 70

Home details

Lot Sq. Ft
8,217
HOA Dues
$0/mo
Year built
1964
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
23315163
City
Los Angeles
County
Los Angeles
Time on Site
234 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 10
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 6
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,834
  • Total Rent: $1,834
  • Pro Forma/Market Rent: $2,500
Unit Breakdown 2
  • # of Units: 4
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $2,432
  • Total Rent: $2,432
  • Pro Forma/Market Rent: $3,350
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.95%
  • Gross Rent Multiplier: 13.69
  • Gross Scheduled Income: --
  • Net Operating Income: $171,929
  • Gross Operating Income: $246,291
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 812 N Martel Ave

Interior Features
Heating Information
  • Has Heating
  • Wall Furnace
Room Information
  • Flooring: Wood
Kitchen Information
  • Has Appliances
  • Refrigerator, Built-In
Interior Features
  • Levels: Two
  • Security Features: Gated Community, Card/Code Access, Automatic Gate
Exterior Features
Exterior Information
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 10
  • Has Parking
  • Parking Features: Covered
Lot Information
  • Lot Features: Landscaped
Property Information
  • Total # of Units: 10
  • Parcel Number: 5526006026
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: The subject property is located in a prime Melrose location, north of Melrose Avenue and west of North La Brea Avenue.
View more facts & features

Local Los Angeles Agent

Sale History for 812 N Martel Ave

Last sold for $3,300,000 on February 5th, 2024

  • February, 2024

  • Feb 5, 2024

    Date

    Sold

    CRMLS: 23315163

    $3,300,000

    Price

  • Sep 26, 2023

    Date

    Active

    CRMLS: 23315163

    $3,475,000

    Price

  • April, 2020

  • Apr 1, 2020

    Date

    Expired

    CRMLS: 19535736

    $3,700,000

    Price

  • Dec 9, 2019

    Date

    Active

    CRMLS: 19535736

    $3,700,000

    Price

  • Listing provided courtesy of CRMLS

  • November, 2018

  • Nov 29, 2018

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 812 N Martel Ave

Assessed Value (2020): $743,411
Year Land Value Improved Value Assessed Value
2020 $241,442 $501,969 $743,411

Home Value Compared to the Market

This property vs the competition

812 N Martel Ave sold on February 5, 2024 for 192.02% 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 $388.09 per/sqft which puts the price per square foot 48.6% lower than the current median sale per square foot for the city of Los Angeles.

About 812 N Martel Ave

Detailed summary of property

812 N Martel Ave is a multi family that recently sold in Los Angeles, CA 90046. This multi family property offered 14 bedrooms, 14 bathrooms, roughly 8,954 living square feet, and sits on an approximately 8,217 square foot lot. 812 N Martel Ave was first listed on ArdentRealEstateGroup.com on September 26, 2023. The homeowner sold the property for $3,300,000. 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 192.02% higher than the current median priced home. Local homes that are currently for sale include 8611 Rosewood Ave, 1947 N Vista Del Mar Ave and 322 S Swall Dr. While the average home in Los Angeles, CA is selling in 94 days, 812 N Martel Ave has a days on market of 70 days. There are currently 3654 homes for sale in the Los Angeles real estate market and 2456 of them are single family homes while 1102 of them are condos and 90 are townhomes. For more information on this home for sale at 812 N Martel 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 812 N Martel Ave

Public county record property details
Beds
14
Baths
14
Year built
1964
Sq. Ft.
8,954
Lot Size
8,217
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
71
APN
5526-006-026

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
226
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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Recently Sold Homes Near 812 N Martel 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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