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9037 Ramsgate Ave, Los Angeles, CA 90045
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9037 Ramsgate Ave Los Angeles, CA 90045

$1,183,333 Sold Price as of 02/22/2024
  • 4 Beds
  • 4 Baths
  • 2,948 Sq.Ft.
Sold
$1,183,333 Sold Price as of 02/22/2024 Refinance Your Mortgage
Map preview of 9037 Ramsgate Ave, Los Angeles, CA 90045

Property Overview: 9037 Ramsgate Ave Los Angeles, CA has 4 bedrooms, 4 bathrooms, 2,948 living square feet and 6,992 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: We are excited to present a promising investment opportunity in the heart of Westchester. This fully vacant fourplex, comprising four spacious one-bedroom one bath units, offers a substantial value-add proposition for both investors and owner-users. Potential for ADU development, subject to state and local laws, and the chance to rent units at market rates post-Ellis Expiration on November 3, 2023, are key features of this property. Nestled in Westchester, a neighborhood witnessing rapid growth and revitalization, this property enjoys a strategic location near major employment centers, top educational institutions, and leisure hotspots. This blend of location and opportunity makes this property a must-consider for those aiming to capitalize on the area's robust rental demand.

Listed by Benjamin J. Hsiang | BRE #01438644 | Realty Investment Advisors, Inc.
Co-listed by Don Favia | BRE #01841258 | Realty Investment Advisors, Inc.
Last checked: 8 minutes ago | Last updated: February 24th, 2024 | Source CRMLS | DOM: 210

Home details

Lot Sq. Ft
6,992
HOA Dues
$0/mo
Year built
1949
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
23271079
City
Los Angeles
County
Los Angeles
Time on Site
331 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 4
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,075
  • Total Rent: $0
  • Pro Forma/Market Rent: $8,300
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5.54%
  • Gross Rent Multiplier: 12.55
  • Gross Scheduled Income: --
  • Net Operating Income: $69,221
  • Gross Operating Income: $96,612
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 9037 Ramsgate Ave

Interior Features
Cooling Information
  • No Cooling
  • None
Heating Information
  • No Heating
  • None
Kitchen Information
  • Has Appliances
Interior Features
  • Levels: Two
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 4
  • Has Parking
Property Information
  • Total # of Units: 4
  • Parcel Number: 4125011011
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: West on W. Manchester Ave, South on Ramsgate Ave
View more facts & features

Local Los Angeles Agent

Sale History for 9037 Ramsgate Ave

Last sold for $1,183,333 on February 22nd, 2024

  • February, 2024

  • Feb 22, 2024

    Date

    Sold

    CRMLS: 23271079

    $1,183,333

    Price

  • Jun 2, 2023

    Date

    Active

    CRMLS: 23271079

    $1,300,000

    Price

  • May, 2023

  • May 16, 2023

    Date

    Canceled

    CRMLS: 23260209

    $4,200,000

    Price

  • Apr 17, 2023

    Date

    Active

    CRMLS: 23260209

    $4,200,000

    Price

  • Listing provided courtesy of CRMLS

    Presenting a rare opportunity for a developer to acquire a development deal in the highly sought-after Westchester neighborhood. This property is located at 9033, 9037, & 9043 Ramsgate Ave and has received a Letter of Determination for 45 buildable units. There are three vacant fourplexes consisting of all one bedroom one bath units on the property. This development can be purchased individually, or as part of a combined 288 buildable unit portfolio within a quarter-mile radius with a total asking price of $28,300,000. This location is strategically situated just minutes from the world-renowned LAX airport, surrounded by major employers such as Google, Northrop Grumman, and Boeing, making it an ideal location for those seeking employment opportunities. The area also offers easy access to SoFi Stadium, home to the Los Angeles Rams and Chargers, which has become a major entertainment destination that hosts a variety of events throughout the year. A few miles west is Playa Del Rey, a vibrant beach town offering a relaxed atmosphere, access to the beach, and a variety of local shops and restaurants. Loyola Marymount University, one of the top private universities in the region, is also less than three miles away, adding a strong educational element to the area. Additionally, located just southwest of Westchester, El Segundo is a booming city home to the headquarters of several major corporations, including Mattel, Raytheon, and SpaceX. The average household income within two miles of this property assemblage exceeds $100,000, reflecting the tremendous economic strength of the area. In 2022, Google leased nearly 53,000 square feet of space in Playa Vista, indicating the strong potential for growth and development in the area. This unique investment opportunity is not to be missed by developers and institutions looking to quickly expand their ground-up portfolio and capitalize on the unlimited potential of this central area. With the acute housing shortage in Los Angeles, this opportunity also presents a chance to create high-quality housing options for one of the highest rental demand markets in California.

  • August, 2017

  • Aug 15, 2017

    Date

    Sold (Public Records)

    Public Records

    $1,350,000

    Price

Show More

Tax History for 9037 Ramsgate Ave

Assessed Value (2020): $1,404,540
Year Land Value Improved Value Assessed Value
2020 $936,360 $468,180 $1,404,540

Home Value Compared to the Market

This property vs the competition

9037 Ramsgate Ave sold on February 22, 2024 for 19.05% higher than the current median sold price for the city of Los Angeles which is $1,050,000. The median sold price per/sqft for Los Angeles is $738 and this home is sold at $424.02 per/sqft which puts the price per square foot 42.55% lower than the current median sale per square foot for the city of Los Angeles.

About 9037 Ramsgate Ave

Detailed summary of property

9037 Ramsgate Ave is a multi family that recently sold in Los Angeles, CA 90045. This multi family property offered 4 bedrooms, 4 bathrooms, roughly 2,948 living square feet, and sits on an approximately 6,992 square foot lot. 9037 Ramsgate Ave was first listed on ArdentRealEstateGroup.com on June 5, 2023. The homeowner sold the property for $1,183,333. Home in Los Angeles are selling for a median price of $1,050,000 and a median price per square foot of $738. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 19.05% higher than the current median priced home. Local homes that are currently for sale include 3961 S Centinela Ave, 4707 Crenshaw Blvd and 3313 W 48th St. While the average home in Los Angeles, CA is selling in 96 days, 9037 Ramsgate Ave has a days on market of 210 days. There are currently 3487 homes for sale in the Los Angeles real estate market and 2373 of them are single family homes while 1015 of them are condos and 93 are townhomes. For more information on this home for sale at 9037 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 9037 Ramsgate Ave

Public county record property details
Beds
5
Baths
5
Year built
1949
Sq. Ft.
2,948
Lot Size
6,991
Stories
--
Type
Triplex (3 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
35
APN
4125-011-011

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.
$876
Median Sold Price
$1,510,000
Median Sold Price/Sq.Ft.
$880
Total Inventory
92
Median Sale to List Price %
103.78%
Avg Days on Market
37
Loan Type
Conventional (28.57%), FHA (0%), VA (0%), Cash (28.57%), Other (7.14%)

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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