NOT LISTED FOR SALE
8 Beds
11 Baths
5,820 Sq Ft
8,455 Sq Ft Lot

Last Sold May 02, 2023

Last sale price $2,800,000 $481 Per Sq Ft

15 Days on Market

About This Home

As of May 2023

Rare multi-family investment opportunity located at 1711 Purdue Avenue in the heart of LA's famed community of West Los Angeles. The subject property consists of 11 units and boasts a great unit mix consisting of (8) spacious 1-bedroom + 1 bath and (3) efficiency units. The building represents a quintessential value-add opportunity rarely available in such a prime location. Each of the units offers an abundance of rental upside. The size of the property is approximately 5,820 sq. ft. and the lot size is 8,456 sq. ft. that is zoned LAR3. Additional property features include on-site parking, an on-site laundry facility, and gated entry. The property still requires seismic work for its parking structure. Priced at a low $259,000 per unit and a 4.33 CAP rate, these value metrics are rarely seen on the Westside. A quick walk to high-end dining and nightlife, this rare offering presents an astute investor with the unique opportunity to capitalize on higher market rents in one of the best locations of the Westside.

Last Agent to Sell the Property

Errol Spiro

Miller & Desatnik Realty Co. License #00893163 Listed on: 02/14/2023

Co-Listed By

Jonathan Taksa

Remax Commercial and Investment Realty License #01366169

Last Buyer's Agent

Rob Renshaw

REMAX COMMERCIAL & INVESTMENT REALTY License #01332831

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1957

Lot Details

  • 8,456 Sq Ft Lot
  • Lot Dimensions are 61x137

Interior Spaces

  • 5,820 Sq Ft Home
  • 2-Story Property
  • Oven or Range
  • Laundry Room

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 11 Bathrooms

Parking

  • 12 Parking Spaces
  • Covered Parking

Community Details

  • 11 Units

Listing and Financial Details

  • Assessor Parcel Number 4261-016-006

Property Details

Home Type

Multi-Family

Year Built

Built in 1957

Lot Details

8,456 Sq Ft Lot

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 5820
  • Lot Acreage: 0.1941
  • Lot Dimensions: 61x137
  • Stories: 2
  • Year Built: 1957
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 8
  • Laundry: Laundry Area
  • Total Bathrooms: 11.00
  • Equipment: Refrigerator, Range/Oven
  • Price Per S Q F T: 489.69

Exterior Features

  • Other Structures: None

Garage/Parking

  • Parking Garage: Covered Parking
  • Total Parking: 12

Lot Info

  • Assessed Improvement Percent: 42.06
  • Assessed Improvement Value: 405664
  • Assessed Land Percent: 57.94
  • Assessed Land Value: 558898
  • Total Assessed Value: 964562
  • Assessor Parcel Number: 4261-016-006
  • Lot Size Area: 8456

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109, 2110, 2111, 2112, 2113, 2114, 2115, 2116
  • Gross Rent Multiplier: 14.42
  • Number Of Units: 11
  • Type Of Units: Apartments
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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
05/02/2023 05/02/23 Sold $2,800,000 -1.8% $481 / Sq Ft
03/01/2023 03/01/23 Pending -- -- --
02/14/2023 02/14/23 For Sale $2,850,000 -- $490 / Sq Ft
Source: The MLS

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $35,422 $2,913,120 $1,144,440 $1,768,680
2024 $35,422 $2,856,000 $1,122,000 $1,734,000
2023 $35,417 $2,856,000 $1,999,200 $856,800
2022 $12,399 $964,562 $558,898 $405,664
2021 $12,223 $945,650 $547,940 $397,710
2019 $11,880 $920,033 $531,689 $388,344
2018 $11,785 $902,042 $521,264 $380,778
2016 $11,198 $864,681 $501,024 $363,657
2015 $11,045 $851,694 $493,499 $358,195
2014 $11,153 $835,012 $483,833 $351,179
Source: Public Records

Agents Affiliated with this Home

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Map

Source: The MLS

MLS Number: 23-241629

The MLS
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