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816 S Westlake Ave, Los Angeles, CA 90057
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816 S Westlake Ave Los Angeles, CA 90057

$5,150,000
  • 30 Beds
  • 30 Baths
  • 15,068 Sq.Ft.
For Sale
$5,150,000 Get Pre-Qualified
Map preview of 816 S Westlake Ave, Los Angeles, CA 90057

Property Overview: 816 S Westlake Ave Los Angeles, CA has 30 bedrooms, 30 bathrooms, 15,068 living square feet and 7,502 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: Do Not Walk the Property or Disrupt Tenants. Contact Listing Team for Property Showing Instructions. We are pleased to offer for sale 816 South Westlake Avenue, an 18-unit apartment community. 816 South Westlake is located south of 8th Street and east of Hoover Street, in the Westlake submarket of Los Angeles. Situated on a 7,502 square foot parcel, the property is comprised of six one-bedroom units and 12 two-bedroom units. Due to its 1990 construction, 816 South Westlake Avenue is not subject to Los Angeles City Rent Control and is subject to AB 1482 State Rent Control allowing for higher annual rental increases. The property has subterranean parking with security gated access and an elevator on-site. 816 South Westlake Avenue in close proximity to multiple venues for the 2028 Summer Olympics in Los Angeles. The property is located a short distance from venues in the "Downtown Sports Park" Including the LA Memorial Coliseum, Crypto.com Arena, BMO Stadium & more, which bode well for the long-term prospects of this neighborhood. 816 South Westlake Avenue presents investor a unique opportunity to attain a 1990's constructed asset in a dense infill Westlake location with in-place yield.

Listed by Sean Rosenzweig | BRE #01406343 | Marcus & Millichap
Last checked: 2 minutes ago | Last updated: September 4th, 2024 | Source CRMLS | DOM: 22

Home details

Lot Sq. Ft
7,502
HOA Dues
$0/mo
Year built
1990
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24432381
City
Los Angeles
County
Los Angeles
Time on Site
23 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 18
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 6
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,292
  • Total Rent: $11,350
  • Pro Forma/Market Rent: $14,400
Unit Breakdown 2
  • # of Units: 12
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $2,675
  • Total Rent: $32,100
  • Pro Forma/Market Rent: $34,200
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 6.72%
  • Gross Rent Multiplier: 9.36
  • Gross Scheduled Income: --
  • Net Operating Income: $346,020
  • Gross Operating Income: $533,766
Annual Expense Breakdown
  • Total Operating Expense: --

Open Houses for 816 S Westlake Ave

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Property Details for 816 S Westlake Ave

Interior Features
Kitchen Information
  • Has Appliances
Interior Features
  • Levels: Multi/Split
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 19
  • Has Parking
  • Parking Features: Covered
Lot Information
  • Lot Size Source: Assessor
Property Information
  • Total # of Units: 18
  • Parcel Number: 5142004004
  • Year Built Source: Assessor
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: East of South Alvarado Street and South of West 8th Street
View more facts & features

Local Los Angeles Agent

Sale History for 816 S Westlake Ave

Last sold for $2,037,500 on July 9th, 2009

  • August, 2024

  • Aug 27, 2024

    Date

    Active

    CRMLS: 24432381

    $5,150,000

    Price

  • July, 2009

  • Jul 9, 2009

    Date

    Sold (Public Records)

    Public Records

    $2,037,500

    Price

  • April, 2004

  • Apr 8, 2004

    Date

    Sold (Public Records)

    Public Records

    --

    Price

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Tax History for 816 S Westlake Ave

Assessed Value (2020): $2,405,435
Year Land Value Improved Value Assessed Value
2020 $1,062,262 $1,343,173 $2,405,435

Home Value Compared to the Market

This property vs the competition

816 S Westlake Ave is listed 329.17% higher than the median list price for the city of Los Angeles which has a median list price of $1,200,000. The median price per/sqft for Los Angeles is $768 and this home is listed at $341.78 per/sqft which puts the price per square foot 55.5% lower than the median price per square foot for the city of Los Angeles.

About 816 S Westlake Ave

Detailed summary of property

816 S Westlake Ave is a multi family located in Los Angeles, CA 90057 and is currently for sale. This multi family property offers 30 bedrooms, 30 bathrooms, roughly 15,068 living square feet, and sits on an approximately 7,502 square foot lot. 816 S Westlake Ave was first listed on ArdentRealEstateGroup.com on August 27, 2024. The homeowner is currently asking $5,150,000. The median priced home in Los Angeles is $1,200,000 with a median price per square foot of $768. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 329.17% higher than the median priced home. Local competing homes currently for sale include 233 N Kenmore Ave, 201 N Normandie Ave and 201 N Normandie Ave. While the average home in Los Angeles, CA is selling in 106 days, 816 S Westlake Ave has a days on market of 22 days. There are currently 4052 homes for sale in the Los Angeles real estate market and 2782 of them are single family homes while 1148 of them are condos and 116 are townhomes. For more information on this home for sale at 816 S Westlake Ave Los Angeles, CA 90057 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 816 S Westlake Ave

Public county record property details
Beds
--
Baths
--
Year built
1990
Sq. Ft.
15,068
Lot Size
7,499
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
4
APN
5142-004-004

The source for these homes facts are from public records.

90057 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$575,000
Median List Price/Sq.Ft.
$531
Median Sold Price
$900,000
Median Sold Price/Sq.Ft.
$515
Total Inventory
16
Median Sale to List Price %
90.91%
Avg Days on Market
16
Loan Type
Conventional (0%), FHA (0%), VA (0%), Cash (100%), Other (0%)

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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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