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819 Beacon Ave, Los Angeles, CA 90017
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819 Beacon Ave Los Angeles, CA 90017

$2,375,000
  • 8 Beds
  • 15 Baths
  • 10,340 Sq.Ft.
For Sale
$2,375,000 Get Pre-Qualified
Map preview of 819 Beacon Ave, Los Angeles, CA 90017

Property Overview: 819 Beacon Ave Los Angeles, CA has 8 bedrooms, 15 bathrooms, 10,340 living square feet and 7,752 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: We are pleased to present 819 Beacon Ave, a charming 15-unit multifamily property located in the vibrant Westlake neighborhood of Los Angeles. Constructed in 1906, this property comprises a balanced mix of 7 single and 8 one-bedroom units, spread across a building area of 10,340 square feet on a 7,750 square foot lot. Its proximity to the trendy area of Koreatown and the bustling downtown Los Angeles offers investors a unique blend of historical charm and access to a dynamic urban lifestyle, attracting a broad tenant base. At 819 Beacon Ave, through strategic renovations, investors have the opportunity to capture up to 25% market rental upside. The property's utility setup also offers a cost-saving opportunity. Since it is master-metered, introducing Ratio Utility Billing Systems (RUBS) for new leases could lower utility expenses significantly, increasing cash flow. Complementing these financial benefits, 819 Beacon Ave boasts a prime location with a 92 Walk Score and an excellent Transit Score of 88. Dubbed a Walker's Paradise, it offers residents unparalleled convenience with immediate access to a plethora of local amenities, dining, shopping, and entertainment options, enhancing its appeal to a wide tenant base. The strategic location of 819 Beacon Ave not only ensures easy day-to-day living but also places it near key Los Angeles hubs such as Koreatown, Downtown LA, Hollywood, and Mid-Wilshire. This connectivity adds significantly to its tenant appeal and underpins strong rental demand. Coupled with the potential for aesthetic and functional enhancements, this positions 819 Beacon Ave as a prime investment opportunity in a thriving market.

Listed by Oscar Diaz | BRE #02022902 | Marcus & Millichap
Last checked: 4 minutes ago | Last updated: June 28th, 2024 | Source CRMLS | DOM: 31
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Home details

Lot Sq. Ft
7,752
HOA Dues
$0/mo
Year built
1906
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24398233
City
Los Angeles
County
Los Angeles
Time on Site
30 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 15
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 8
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,445
  • Total Rent: $11,559
  • Pro Forma/Market Rent: $1,850
Unit Breakdown 2
  • # of Units: 7
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,101
  • Total Rent: $7,704
  • Pro Forma/Market Rent: $1,595
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5.07%
  • Gross Rent Multiplier: 10.12
  • Gross Scheduled Income: --
  • Net Operating Income: $120,298
  • Gross Operating Income: $230,082
  • Other Income 1: $3,540
Annual Expense Breakdown
  • Total Operating Expense: --

Open Houses for 819 Beacon Ave

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Property Details for 819 Beacon Ave

Interior Features
Kitchen Information
  • Has Appliances
Interior Features
  • Levels: Two
Lot Details / Garage and Parking
Parking/Garage Information
  • Has Parking
Property Information
  • Total # of Units: 15
  • Parcel Number: 5142015015
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: Located near Beacon Avenue and W 8th Street. Head south on Beacon Avenue from W 8th Street; the property is north of James M Wood Blvd.
View more facts & features

Local Los Angeles Agent

Sale History for 819 Beacon Ave

Last sold on September 29th, 2010

  • May, 2024

  • May 31, 2024

    Date

    Active

    CRMLS: 24398233

    $2,425,000

    Price

  • October, 2022

  • Oct 6, 2022

    Date

    Expired

    CRMLS: 22153527

    $2,450,000

    Price

  • May 5, 2022

    Date

    Active

    CRMLS: 22153527

    $2,600,000

    Price

  • Listing provided courtesy of CRMLS

    This is a true value add property with major potential upside in rents in the Downtown LA area. The new owner can additionally create significant value by installing solar panels on the flat roof for a high ROI. There are 5 vacant storage units on the top floor which can be incorporated into the adjacent units to increase their size and bedroom count! It is our understanding that the back portion of the building was built in the 1960's. This is a master metered building for electricity. There are individual gas meters but the owner pays gas as well.

  • October, 2018

  • Oct 1, 2018

    Date

    Expired

    CRMLS: 18324710

    $2,550,000

    Price

  • Mar 19, 2018

    Date

    Active

    CRMLS: 18324710

    $2,550,000

    Price

  • Listing provided courtesy of CRMLS

    We are pleased to present 819 Beacon Avenue in the gentrifying neighborhood of Westlake in Los Angeles. This 15-unit well-maintained apartment building is compromised of 7 studios and 8 one bedroom units. The subject property was built in 1906 and sits on 7,750 square foot or land zoned R3. The property is proximate to major new developments including a 218 unit, $60 million mixed use project: The Valencia and other projects such as the MacArthur Park Metro Apartments.

  • August, 2014

  • Aug 20, 2014

    Date

    Active

    CRMLS: 14787751

    $1,550,000

    Price

  • Listing provided courtesy of CRMLS

    819 Beacon Avenue is a 15 unit, 10,340 (+/-) square foot Victorian era building in the heart of downtown Los Angeles, built in 1906 of wood frame. It's well positioned as a turn-key investment, offering continued long term potential for solid rental income. The asset appears well-managed and maintained, with a unit mix of nine 1 bed 1 bath and six studio units. A promising central core location with high density rental demand just blocks from L.A. Live/Staples, 2 blocks from Metro Rail stations, and in the midst of rapidly expanding growth downtown. The apartments are master metered for all utilities, with street parking. The building also has an expansive attic loft with high ceilings upstairs for additional storage space. A portion of the horizontal plumbing was replaced recently as well. There are 2 recent vacancies at this time. Manager pays $500 for a 1 bed 1 bath.

  • September, 2010

  • Sep 29, 2010

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • February, 2010

  • Feb 26, 2010

    Date

    Sold (Public Records)

    Public Records

    --

    Price

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Tax History for 819 Beacon Ave

Assessed Value (2020): $811,438
Year Land Value Improved Value Assessed Value
2020 $472,114 $339,324 $811,438

Home Value Compared to the Market

This property vs the competition

819 Beacon Ave is listed 92.15% higher than the median list price for the city of Los Angeles which has a median list price of $1,236,000. The median price per/sqft for Los Angeles is $775 and this home is listed at $229.69 per/sqft which puts the price per square foot 70.36% lower than the median price per square foot for the city of Los Angeles.

About 819 Beacon Ave

Detailed summary of property

819 Beacon Ave is a multi family located in Los Angeles, CA 90017 and is currently for sale. This multi family property offers 8 bedrooms, 15 bathrooms, roughly 10,340 living square feet, and sits on an approximately 7,752 square foot lot. 819 Beacon Ave was first listed on ArdentRealEstateGroup.com on May 31, 2024. The homeowner is currently asking $2,375,000 and was originally asking $2,425,000. The median priced home in Los Angeles is $1,236,000 with a median price per square foot of $775. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 92.15% higher than the median priced home. Local competing homes currently for sale include 1041 Elden Ave, 2743 James M Wood Blvd and 1215 Elden Ave. While the average home in Los Angeles, CA is selling in 99 days, 819 Beacon Ave has a days on market of 31 days. There are currently 3982 homes for sale in the Los Angeles real estate market and 2673 of them are single family homes while 1195 of them are condos and 107 are townhomes. For more information on this home for sale at 819 Beacon Ave Los Angeles, CA 90017 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 819 Beacon Ave

Public county record property details
Beds
9
Baths
15
Year built
1906
Sq. Ft.
10,340
Lot Size
7,750
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
53
APN
5142-015-015

The source for these homes facts are from public records.

90017 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$639,999
Median List Price/Sq.Ft.
$732
Median Sold Price
$450,000
Median Sold Price/Sq.Ft.
$564
Total Inventory
98
Median Sale to List Price %
92.02%
Avg Days on Market
101
Loan Type
Conventional (16.67%), FHA (0%), VA (0%), Cash (16.67%), 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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