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927 S Ardmore Ave, Los Angeles, CA 90006
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927 S Ardmore Ave Los Angeles, CA 90006

$4,980,000
  • 15 Beds
  • 12 Baths
  • 40,000 Sq.Ft.
For Sale
$4,980,000 Get Pre-Qualified
Map preview of 927 S Ardmore Ave, Los Angeles, CA 90006

Property Overview: 927 S Ardmore Ave Los Angeles, CA has 15 bedrooms, 12 bathrooms, 40,000 living square feet and 13,524 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: Take a part of the ever growing Koreatown rental market! We are pleased to showcase this exceptional opportunity to become either an Investor or a Developer. Encompass of 2 lots totaling 13,534 square feet of prime Koreatown land. OPTION # 1 : For THE INVESTORS in search of an opportunity to expand their real estate portfolio, we offer the buyers the ability to immediately renovate, design, and lease the existing 8 units (1 studio, 5 of 1 bed & 1 bath units and 2 of 2 bed & 1 bath units) and Single Family Home with a detached garage that can be converted to an ADU for extra income. PROFORMA MONTHLY RENTAL INCOME: Studio $1,700 * 1bed + 1 bath $2,200 * 2 bed + 1bath $2,800 * SFR $7,500 + $2,500 for Possible ADU. In exchange, the property is forecasted to attain a 5.11% cap rate, $339,600 GRI and 14.66% GRM post-renovation. Delivered 100% Vacant. OPNTION # 2 : For THE DEVELOPERS, the Property will be delivered with RTI Permits to acquire a 54-unit, seven-story development project with RTI(Ready to Issue) plans. The proposed development spans an impressive 40,000 square feet and comprises 54 units, R4-1 Zoning, TOC Tier 3. Delivered 100 % Vacant.

Listed by Jina Hee Chon | BRE #02062088 | NEOZIPS, Inc.
Co-listed by Yun Kim | BRE #01408513 | NEOZIPS, Inc.
Last checked: 16 minutes ago | Last updated: April 13th, 2024 | Source CRMLS | DOM: 45
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Home details

Lot Sq. Ft
13,524
HOA Dues
$0/mo
Year built
1922
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24367837
City
Los Angeles
County
Los Angeles
Time on Site
51 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 54
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $1,700
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 5
  • # of Baths: 3
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $7,500
Unit Breakdown 3
  • # of Units: 5
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $2,200
Unit Breakdown 4
  • # of Units: 2
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $2,800
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $2,500
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5.11%
  • Gross Rent Multiplier: 14.66
  • Gross Scheduled Income: --
  • Net Operating Income: $254,700
  • Gross Operating Income: $339,600
Annual Expense Breakdown
  • Total Operating Expense: --

Open Houses for 927 S Ardmore Ave

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Property Details for 927 S Ardmore Ave

Interior Features
Heating Information
  • Has Heating
  • Central
Kitchen Information
  • Has Appliances
Interior Features
  • Levels: Multi/Split
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 50
  • Has Parking
  • Parking Features: Assigned
Property Information
  • Total # of Units: 54
  • Parcel Number: 5093023057
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: On Ardmore. South of Wilshire Blvd. North of Olympic Blvd. West of Normandie Ave. East of Western Ave.
View more facts & features

Local Los Angeles Agent

Sale History for 927 S Ardmore Ave

Last sold for $1,800,000 on June 28th, 2019

  • March, 2024

  • Mar 13, 2024

    Date

    Active

    CRMLS: 24367837

    $4,980,000

    Price

  • February, 2024

  • Feb 29, 2024

    Date

    Canceled

    CRMLS: 23325043

    $5,590,000

    Price

  • Oct 24, 2023

    Date

    Active

    CRMLS: 23325043

    $5,690,000

    Price

  • Listing provided courtesy of CRMLS

    DOUBLE LOT - 927 & 933 S. ARDMORE AVE. PROPOSED / ARCHITECTURAL PLANS FOR 54 UNITS PLUS 10 UNITS ADU, TOTAL 64 UNITS. INCLUDED IS RTI READY & DELIVERED 100% VACANT. 36 Units Studios, 26 Units 1 Bedroom, 2 Units 2 Bedrooms. 51 PARKING SPACES & 36 BALCONIES, 54 BIKE PARKING SPACES. Mid-Wilshire, Los Angeles, Up and Coming AREA!! Density: 42,611 people per square mile, one of the densest places in Los Angeles. Huge Undersupply of Apartments. GREAT OPPORTUNITY TO BUILD NOW FOR FUTURE GAINS!! ALSO, POSSIBLE FOR CONDO BUILDERS!! Delivered with paid Approved Plans and Permits. NOTE: Shovel-ready. Permit fees Like School fees, Park fees, and other fees are Buyer's Responsibility.

  • September, 2022

  • Sep 1, 2022

    Date

    Expired

    CRMLS: 22183059

    $6,800,000

    Price

  • Jul 26, 2022

    Date

    Active

    CRMLS: 22183059

    $6,800,000

    Price

  • Listing provided courtesy of CRMLS

    DOUBLE LOT - 927 & 933 S. ARDMORE AVE. PROPOSED / ARCHITECTURAL PLANS FOR 54 UNITS, INCLUDED IS RTI READY & DELIVERED 100% VACANT. 19 Units Studios, 26 Units 1 Bedroom, 9 Units 2 Bedrooms. 51 PARKING SPACES & 36 BALCONIES, 54 BIKE PARKING SPACES. Mid-Wilshire, Los Angeles, Up and Coming AREA!! Density: 42,611 people per square mile, one of the densest places in Los Angeles. Huge Undersupply of Apartments. GREAT OPPORTUNITY TO BUILD NOW FOR FUTURE GAINS!! ALSO, POSSIBLE FOR CONDO BUILDERS!! Delivered with paid Approved Plans and Permits. NOTE: Shovel ready Permit fees Like School fees and other fees are Buyer's Responsibility.

  • July, 2022

  • Jul 26, 2022

    Date

    Canceled

    CRMLS: 22153421

    $6,880,000

    Price

  • May 4, 2022

    Date

    Active

    CRMLS: 22153421

    $6,880,000

    Price

  • Listing provided courtesy of CRMLS

    DOUBLE LOT - 927 & 933 S. ARDMORE AVE. PROPOSED / ARCHITECTURAL PLANS FOR 54 UNITS, INCLUDED IS RTI READY & DELIVERED VACANT. 19 Units Studios, 26 Units 1 Bedroom, 9 Units 2 Bedrooms. 51 PARKING SPACES & 36 BALCONIES, 54 BIKE PARKING SPACES. Mid-Wilshire, Los Angeles, Up and Coming AREA!! Density: 42,611 people per square mile, one of the densest places in Los Angeles. Huge Undersupply of Apartments. GREAT OPPORTUNITY TO BUILD NOW FOR FUTURE GAINS!! ALSO, POSSIBLE FOR CONDO BUILDERS!! Delivered with paid Approved Plans and Permits. NOTE: Shovel ready Permit fees Like School fees and other fees are Buyer's Responsibility.

  • June, 2019

  • Jun 28, 2019

    Date

    Sold (Public Records)

    Public Records

    $1,800,000

    Price

Show More

Tax History for 927 S Ardmore Ave

Assessed Value (2020): $1,836,000
Year Land Value Improved Value Assessed Value
2020 $1,185,852 $650,148 $1,836,000

Home Value Compared to the Market

This property vs the competition

927 S Ardmore Ave is listed 306.53% higher than the median list price for the city of Los Angeles which has a median list price of $1,225,000. The median price per/sqft for Los Angeles is $774 and this home is listed at $124.5 per/sqft which puts the price per square foot 83.91% lower than the median price per square foot for the city of Los Angeles.

About 927 S Ardmore Ave

Detailed summary of property

927 S Ardmore Ave is a multi family located in Los Angeles, CA 90006 and is currently for sale. This multi family property offers 15 bedrooms, 12 bathrooms, roughly 40,000 living square feet, and sits on an approximately 13,524 square foot lot. 927 S Ardmore Ave was first listed on ArdentRealEstateGroup.com on March 13, 2024. The homeowner is currently asking $4,980,000. The median priced home in Los Angeles is $1,225,000 with a median price per square foot of $774. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 306.53% higher than the median priced home. Local competing homes currently for sale include 1819 S Gramercy Pl, 204 N Manhattan Pl and 4835 Elmwood Ave. While the average home in Los Angeles, CA is selling in 96 days, 927 S Ardmore Ave has a days on market of 45 days. There are currently 3485 homes for sale in the Los Angeles real estate market and 2372 of them are single family homes while 1013 of them are condos and 94 are townhomes. For more information on this home for sale at 927 S Ardmore Ave Los Angeles, CA 90006 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 927 S Ardmore Ave

Public county record property details
Beds
3
Baths
1
Year built
1922
Sq. Ft.
2,100
Lot Size
6,760
Stories
--
Type
Single Family Residential
Pool
No
Spa
No
County
Los Angeles
Lot#
344
APN
5093-023-032

The source for these homes facts are from public records.

90006 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$799,000
Median List Price/Sq.Ft.
$606
Median Sold Price
$690,000
Median Sold Price/Sq.Ft.
$600
Total Inventory
32
Median Sale to List Price %
98.71%
Avg Days on Market
36
Loan Type
Conventional (0%), FHA (0%), VA (0%), Cash (33.33%), 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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