NOT LISTED FOR SALE

1421 Ridge Way Los Angeles, CA 90026

Echo Park Neighborhood
5 Beds
5 Baths
4,317 Sq Ft
6,393 Sq Ft Lot

Last Sold February 10, 2021

Last sale price $1,050,000 $243 Per Sq Ft

Highlights

  • Wood Flooring
  • Cooling System Mounted To A Wall/Window
  • Landscaped
  • Up Slope from Street
  • Laundry Room

About This Home

As of February 2021

Probate, Subject to Court Confirmation. Accepted offer is $1,050,000. Minimum overbid will be $1,103,000 on Thursday 1/7/21 at 8:30 a.m. in Dept 79 in Los Angeles Superior Court at 111 N. Hill Street. Character rich 5 unit, early 1900's multi-residential property in the heart of historic Angelino Heights HPOZ Zone. Ideal for investor or owner-user who wants to manage themselves to save current management fees. Below market rents gives buyer tremendous upside potential for income growth. With Echo Park on one side and Downtown Los Angeles on the other, this property shows both charm and character. Residents enjoy myriad dining, nightlife and recreation offerings, including Dodger Stadium, Elysian Park hiking trails and Echo Park Lake. Close to the business hubs of Downtown and Hollywood. Set back on a knoll overlooking the street, this property has been recently upgraded. The main 2-story building has a new roof and has been recently painted. It has 4 units, all 1 bedroom, 1 bath with direct access to exterior. This building includes a beautifully renovated owner’s unit. If that weren’t enough, this great property also features a stand-alone , quaint 1 bedroom, 1 bath cottage ideal for owner/user or premium tenant. Echo Park has been called the trendiest neighborhood in Los Angeles, and Angelino Heights is an architectural jewel within this area. This is a rare opportunity to own a fabulous income property in one of the hottest markets in Los Angeles.

Last Agent to Sell the Property

Anngel Benoun

Engel & Völkers Encino License #01014735 Listed on: 08/07/2020

Engel & Völkers Encino

Co-Listed By

Randye Saunders

Engel & Völkers Encino License #01333050

Last Buyer's Agent

Michale McGee

Engel & Völkers Encino License #01442673

Engel & Völkers Encino

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1911

Lot Details

  • 6,393 Sq Ft Lot
  • Two or More Common Walls
  • Landscaped

Home Design

  • Property Attached

Interior Spaces

  • 4,317 Sq Ft Home
  • 2-Story Property
  • Wood Flooring

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 5 Bathrooms

Laundry

  • Laundry Room
  • Washer Hookup

Parking

  • Up Slope from Street
  • On-Street Parking

Location

  • Urban Location

Utilities

  • Cooling System Mounted To A Wall/Window
  • Septic Type Unknown

Listing and Financial Details

  • Tenant pays for electricity, gas, water
  • Legal Lot and Block 7 / 18
  • Tax Tract Number 197500
  • Assessor Parcel Number 5405009010

Community Details

Overview

  • 2 Buildings
  • 5 Units

Building Details

  • 5 Leased Units
  • Rent Control
  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • Insurance Expense $1,340
  • Maintenance Expense $4,080
  • Other Expense $72
  • Professional Management Expense $9,000
  • Water Sewer Expense $2,367
  • New Taxes Expense $22,500
  • Operating Expense $19,547
  • Gross Income $78,178
  • Net Operating Income $58,631

Property Details

Home Type

Multi-Family

Year Built

Built in 1911

Lot Details

0

Listing Details

  • CapRate: 5.20
  • Professional Management Expense: 9000.00
  • Property Attached: Yes
  • Water Sewer Expenses: 2366.50
  • Zoning: LAR2
  • Property Type: Residential Income
  • Parcel Number: 5405009010
  • Year Built: 1911
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Flooring: Wood
  • Price Per Square Foot: 243.22

Exterior Features

  • Pool Private: No

Garage/Parking

  • Parking: No
  • Parking Features: Street

Utilities

  • Laundry: Yes
  • Laundry Features: Washer Hookup
  • Sewer: Unknown
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Urban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Landscaped, Up Slope from Street
  • Lot Size Sq Ft: 6393.00
  • Lot Size Acres: 0.1468

Rental Info

  • Tenant Pays: Electricity, Gas, Water

Multi Family

  • Gross Income: 78178.00
  • Gross Operating Income: 78178.00
  • Gross Scheduled Income: 78178.00
  • Insurance Expense: 1340.00
  • Lot Size Area: 6393.0000 Square Feet
  • Maintenance Expense: 4080.00
  • Net Operating Income: 58631.00
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Units Leased: 5
  • Number Of Units Total: 5
  • Other Expense: 72.00
  • Rent Control: Yes
  • Total Actual Rent: 6838.35
  • Total Expenses: 19547.37

Tax Info

  • New Taxes Expense: 22500.00
  • Tax Block: 18
  • Tax Census Tract: 1975.00
  • Tax Lot: 7
  • Tax Tract Number: 197500

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
02/10/2021 02/10/21 Sold $1,050,000 -4.8% $243 / Sq Ft
11/30/2020 11/30/20 Price Changed $1,103,000 -18.3% $256 / Sq Ft
11/25/2020 11/25/20 Pending -- -- --
11/06/2020 11/06/20 Price Changed $1,350,000 -10.0% $313 / Sq Ft
09/03/2020 09/03/20 Price Changed $1,500,000 -16.7% $347 / Sq Ft
08/07/2020 08/07/20 For Sale $1,800,000 -- $417 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Anngel Benoun

    Seller's Agent in 2021

    Anngel Benoun

    Engel & Völkers Encino

    (818) 728-2396

    1 in this area

    77 Total Sales

    Anngel Benoun
    Section Image

  • R

    Seller Co-Listing Agent in 2021

    Randye Saunders

    Engel & Völkers Encino

    (818) 645-8575

    1 in this area

    56 Total Sales

    Randye Saunders
    Section Image

  • M

    Buyer's Agent in 2021

    Michale McGee

    Engel & Völkers Encino

    (818) 728-2306

    1 in this area

    19 Total Sales

    Michale McGee
    Section Image
See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SR20158670

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Los Angeles 90026 Echo Park

1421 Ridge Way, Los Angeles, CA

This home is located at 1421 Ridge Way, Los Angeles, CA 90026 since 07 August 2020. This property was built in 1911. 1421 Ridge Way is a home located in Los Angeles County with nearby schools including Logan Academy of Global Ecology, Ramón C. Cortines School of Visual and Performing Arts, and Belmont High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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