8931 Ramsgate Ave, Los Angeles, CA 90045
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8931 Ramsgate Ave Los Angeles, CA 90045

$1,295,000
  • 4 Beds
  • 2 Baths
  • 1,786 Sq.Ft.
For Sale
$1,295,000 Get Pre-Qualified

Map preview of 8931 Ramsgate Ave, Los Angeles, CA 90045

Property Overview: 8931 Ramsgate Ave Los Angeles, CA has 4 bedrooms, 2 bathrooms, 1,786 living square feet and 7,063 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 8931 Ramsgate Ave, a VACANT duplex located on 7,063 SF of LAR3 Tier 3 TOC zoned land! With the existing duplex (both 2 bed + 1 bath) being 100% vacant, there are numerous exit strategies that include the following: 1) Build 16 units + 4 ADUs utilizing the current RTI plans, 2) Renovate the existing Duplex + build new ADUs, 3) Utilize ED1 to construct 100% affordable housing project, or 4) Multiple duplex style build yield 4-6 large units. Located in the heart of Westchester, tenants will have ease of access to the 405FWY, numerous employment opportunities, Loyola Marymount University, Venice Beach, Santa Monica, El Segundo, and LAX. Ownership has plans in place for a market rate 16-unit + 4 ADU development that can be included in a sale. As a 100% affordable ED1 development, there's potential for up to 36 units with no parking requirements and an affordable stick on grade type construction. As a value-add project, a new owner can perform renovations on the existing units, both 2 bed + 1 bath units, and add additional ADUs by converting the existing rear garage. Buyer shall complete their own due diligence to determine the development potential.

Listed by Casey Lins | BRE #01902650 | Kidder Mathews of California, Inc.
Last checked: 8 minutes ago | Last updated: July 9th, 2024 | Source CRMLS | DOM: 56
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Call/Text (714) 706-1823

Home details

Lot Sq. Ft
7,063
HOA Dues
$0/mo
Year built
1950
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24395369
City
Los Angeles
County
Los Angeles
Time on Site
56 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 2
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $3,500
  • Total Rent: $3,500
  • Pro Forma/Market Rent: $3,500
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $3,500
  • Total Rent: $3,500
  • Pro Forma/Market Rent: $3,500
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 16.1
  • Gross Scheduled Income: --
  • Net Operating Income: $54,600
  • Gross Operating Income: $84,000
Annual Expense Breakdown
  • Total Operating Expense: --

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Property Details for 8931 Ramsgate Ave

Interior Features
Kitchen Information
  • Has Appliances
Interior Features
  • Levels: One
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 4
  • Has Parking
  • Parking Features: Garage
Property Information
  • Total # of Units: 2
  • Parcel Number: 4125012014
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: Google Maps: 8931 Ramsgate Ave. Los Angeles, CA 90045
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Sale History for 8931 Ramsgate Ave

Last sold for $1,000,000 on March 20th, 2019
  • May, 2024

  • May 22, 2024

    Date

    Active

    CRMLS: 24395369

    $1,350,000

    Price

  • December, 2021

  • Dec 22, 2021

    Date

    Expired

    CRMLS: 21104445

    $1,595,000

    Price

  • Nov 11, 2021

    Date

    Active

    CRMLS: 21104445

    $1,649,000

    Price

  • Listing provided courtesy of CRMLS

    R3 zoning for this Duplex, ready for the developer to build . Sold primarily for land value and build-out. Tier 3- Seller has preliminary plans to build 16 unit of which 2 will be designated as affordable per TOC requirements. Property will be delivered with no tenants upon closing . Please ask agent for preliminary plans.

  • February, 2020

  • Feb 9, 2020

    Date

    Canceled

    CRMLS: 20545452

    $1,495,000

    Price

  • Jan 19, 2020

    Date

    Active

    CRMLS: 20545452

    $1,495,000

    Price

  • Listing provided courtesy of CRMLS

    DUPLEX, sold for land value and development purposes. Preliminary plans to build 15 units. Street to street property on an R3 lot with 56 feet frontage. Sold with one tenant in place . Buyer to deal with current tenant. This is a totally AS IS sale.

  • March, 2019

  • Mar 20, 2019

    Date

    Sold (Public Records)

    Public Records

    $1,000,000

    Price

  • September, 2001

  • Sep 14, 2001

    Date

    Sold (Public Records)

    Public Records

    $257,000

    Price

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Tax History for 8931 Ramsgate Ave

Assessed Value (2020): $1,020,000
Year Land Value Improved Value Assessed Value
2020 $714,000 $306,000 $1,020,000

Home Value Compared to the Market

This property vs the competition

8931 Ramsgate Ave is listed 7.92% 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 $773 and this home is listed at $725.08 per/sqft which puts the price per square foot 6.2% lower than the median price per square foot for the city of Los Angeles.

About 8931 Ramsgate Ave

Detailed summary of property

8931 Ramsgate Ave is a multi family located in Los Angeles, CA 90045 and is currently for sale. This multi family property offers 4 bedrooms, 2 bathrooms, roughly 1,786 living square feet, and sits on an approximately 7,063 square foot lot. 8931 Ramsgate Ave was first listed on ArdentRealEstateGroup.com on May 23, 2024. The homeowner is currently asking $1,295,000 and was originally asking $1,350,000. The median priced home in Los Angeles is $1,200,000 with a median price per square foot of $773. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 7.92% higher than the median priced home. Local competing homes currently for sale include 6321 11th Ave, 12000 Sylvester St and 3321 W 63rd St. While the average home in Los Angeles, CA is selling in 101 days, 8931 Ramsgate Ave has a days on market of 56 days. There are currently 4052 homes for sale in the Los Angeles real estate market and 2723 of them are single family homes while 1208 of them are condos and 114 are townhomes. For more information on this home for sale at 8931 Ramsgate Ave Los Angeles, CA 90045 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 8931 Ramsgate Ave

Public county record property details
Beds
4
Baths
2
Year built
1950
Sq. Ft.
1,786
Lot Size
7,060
Stories
--
Type
Duplex (2 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
26
APN
4125-012-014

The source for these homes facts are from public records.

90045 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,649,000
Median List Price/Sq.Ft.
$854
Median Sold Price
$1,555,000
Median Sold Price/Sq.Ft.
$871
Total Inventory
98
Median Sale to List Price %
97.49%
Avg Days on Market
27
Loan Type
Conventional (9.68%), FHA (0%), VA (0%), Cash (25.81%), Other (9.68%)

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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.