NOT LISTED FOR SALE
4 Beds
5 Baths
2,661 Sq Ft
9,466 Sq Ft Lot

Last Sold April 29, 2021

Last sale price $1,305,000 $490 Per Sq Ft

6 Days on Market

Highlights

  • Gated Parking
  • Wood Flooring
  • Bungalow
  • City View
  • Ground Level Unit
  • Ceiling Fan

About This Home

As of April 2021

2243 S Ridgeley Drive is a turnkey 5 unit property located in the heart of the hot West Adams neighborhood of Los Angeles. The property consists of four 1+1s and one studio. All units have been completely renovated and feature private garage storage, parking, and private yards. The property is individually metered for gas and electricity, includes an on-site laundry room and a detached unpermitted unit that may later be permitted as an Accessory Dwelling Unit for additional income. At nearly 9,500 square feet, the extra large RD 1.5 zoned lot, gives the owner the option to carry out a future small lot subdivision. The property is extremely well located, central to major employment, transportation, and points of interest alike. 2243 S Ridgeley Drive is nestled between Culver City, Mid-City Los Angeles, and the burgeoning West Adams neighborhood. Additionally, it lies within a mere 10 minute walk from trendy coffee shops, shopping, and entertainment. This is an excellent opportunity to acquire an investment property with steady and reliable cash flow with additional future upside!

Last Agent to Sell the Property

Jordan Peikin

Jordan Peikin License #02015987 Listed on: 04/08/2021

Last Buyer's Agent

Anastasia Lavrovskaya

Keller Williams Hollywood Hills License #02087935

Keller Williams Hollywood Hills

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1939 | Remodeled

Lot Details

  • 9,466 Sq Ft Lot
  • East Facing Home
  • Gated Home

Parking

  • 3 Car Garage
  • Gated Parking

Home Design

  • Bungalow

Interior Spaces

  • 2,661 Sq Ft Home
  • 1-Story Property
  • Ceiling Fan
  • City Views

Kitchen

  • Oven or Range
  • Disposal

Flooring

  • Wood
  • Tile

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 5 Bathrooms

Home Security

  • Security Lights
  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Location

  • Ground Level Unit
  • City Lot

Utilities

  • Heating System Mounted To A Wall or Window
  • Sewer in Street

Listing and Financial Details

  • Tenant pays for gas, electricity
  • The owner pays for water, gardener
  • Assessor Parcel Number 5063-024-002

Community Details

Overview

  • 2 Buildings
  • 5 Units

Additional Features

  • Laundry Facilities
  • Rent Control

Property Details

Home Type

Multi-Family

Year Built

Built in 1939 | Remodeled

Lot Details

0

Parking

3

Listing Details

  • Property Type: Residential Income
  • Style: Bungalow
  • Levels: Ground Level
  • Street Number Display: Yes
  • Additional Assessor Parcel Numbers: No
  • Alley: No
  • Living Area: 2661
  • Lot Acreage: 0.2173
  • Probate: No
  • Property Condition: Updated/Remodeled
  • Stories: 1
  • Year Built: 1939
  • Number Of Photos: 18
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Hardwood, Tile
  • Bedrooms: 4
  • Laundry: Community
  • Total Bathrooms: 5.00
  • Equipment: Refrigerator, Range/Oven, Garbage Disposal, Ceiling Fan, Hood Fan
  • Price Per S Q F T: 507.33

Exterior Features

  • Direction Faces: East
  • Other Structures: Accessory Bldgs
  • View: City
  • View: Yes

Garage/Parking

  • Garage Spaces: 3
  • Garage Structures: 1
  • Parking Garage: Gated, Garage, Private, Oversized
  • Total Parking: 5

Utilities

  • Cooling: Ceiling Fan
  • Heating: Wall Gas
  • Security: Smoke Detector, Carbon Monoxide Detector(s), Gated, Exterior Security Lights
  • Sewer: In Street
  • Water: In Street

Lot Info

  • Assessed Improvement Percent: 35.71
  • Assessed Improvement Value: 318362
  • Assessed Land Percent: 64.29
  • Assessed Land Value: 573052
  • Total Assessed Value: 891414
  • Assessor Parcel Number: 5063-024-002
  • Lot Location: City
  • Lot Size Area: 9466

Rental Info

  • Owner Pays: Water, Gardener
  • Rent Control: Yes
  • Tenant Pays: Gas, Electricity

Multi Family

  • Unit Type: 2106, 2107
  • Gross Rent Multiplier: 13.88
  • Number Of Units: 5
  • Rent Control: 100
  • Total Annual Expense: 31963
  • Type Of Units: Apartments
  • Vacancy Allow Percent: 3.00
  • Vacancy Rate: 0

Range of Values:

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Average Value
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List Price
Sold Price
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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 Change Sq Ft Price
04/29/2021 04/29/21 Sold $1,305,000 -3.3% $490 / Sq Ft
04/14/2021 04/14/21 Pending -- -- --
04/08/2021 04/08/21 For Sale $1,350,000 +60.7% $507 / Sq Ft
02/21/2017 02/21/17 Sold $840,000 0.0% $316 / Sq Ft
01/17/2017 01/17/17 Pending -- -- --
01/05/2017 01/05/17 For Sale $839,999 0.0% $316 / Sq Ft
12/20/2016 12/20/16 Pending -- -- --
11/29/2016 11/29/16 Price Changed $839,999 -1.2% $316 / Sq Ft
11/09/2016 11/09/16 For Sale $849,999 -- $319 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: The MLS

MLS Number: 21-716706

The MLS