NOT LISTED FOR SALE

328 N Alexandria Ave Los Angeles, CA 90004

East Hollywood Neighborhood
4 Beds
8 Baths
3,833 Sq Ft
6,900 Sq Ft Lot

Last Sold August 22, 2019

Last sale price $1,285,000 $335 Per Sq Ft

38 Days on Market

About This Home

As of August 2019

Built in 1929, this 8-unit property located on a 6,900 SF lot is a redevelopment or value-add investment opportunity in the dense rental submarket of Koreatown. The lot is currently zoned R3-1 and is in a Tier 3 TOC. The current building consists of eight units featuring singles and one-bedrooms.As an investment deal, the offering presents an investor a value-add opportunity at a low price per unit of $168,750. With current rents below market, the pro forma CAP rate is 6.97% as units turn and market rents are achieved. Additionally, the subject property has eight total parking spaces at the rear of the property.Koreatown, located west of Downtown LA and south of Hollywood, is one of the most diverse neighborhoods in all of Los Angeles. Known for having one of the largest concentration of nightclubs, 24-hour businesses and restaurants in the country, Koreatown continues to produce high demand for apartment units.

Last Agent to Sell the Property

Neema Ahadian

Marcus & Millichap License #01346750 Listed on: 05/13/2019

Last Buyer's Agent

Jacklin Rafaelof

Berkshire Hathaway HomeServices California Properties License #01273627

Berkshire Hathaway HomeServices California Properties

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1929

Lot Details

  • 6,900 Sq Ft Lot

Interior Spaces

  • 3,833 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 8 Bathrooms

Parking

  • 8 Parking Spaces
  • Uncovered Parking

Community Details

  • 8 Units

Listing and Financial Details

  • Assessor Parcel Number 5520-023-003

Property Details

Home Type

Multi-Family

Year Built

Built in 1929

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 3833
  • Price Per Unit: 168750.00
  • Stories: 2
  • Year Built: 1929
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 4
  • Total Bathrooms: 8.00
  • Price Per S Q F T: 352.20

Exterior Features

  • Tennis Court Y/N: No
  • Pool: No

Garage/Parking

  • Parking Garage: Uncovered
  • Total Parking: 8

Lot Info

  • Assessed Improvement Value: 554880
  • Assessed Land Value: 832320
  • Assessor Parcel Number: 5520-023-003
  • Geocode Override: No
  • Lot Size Area: 6900

Rental Info

  • Total Actual Rent: 6860.00

Multi Family

  • Unit Type: 2106, 2107
  • Gross Rent Multiplier: 16.38
  • Number Of Units: 8
  • Type Of Units: Apartment

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 List to Sale Price per Sq Ft
08/22/2019 08/22/19 Sold $1,285,000 -4.8% $335 / Sq Ft
05/13/2019 05/13/19 For Sale $1,350,000 -- $352 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • N

    Seller's Agent in 2019

    Neema Ahadian

    Marcus & Millichap

    (213) 943-1800

    4 in this area

    90 Total Sales

    Neema Ahadian
    Section Image
  • Jacklin Rafaelof

    Buyer's Agent in 2019

    Jacklin Rafaelof

    Berkshire Hathaway HomeServices California Properties

    (310) 709-9809

    3 Total Sales

    Jacklin Rafaelof
    Section Image
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Map

Source: The MLS

MLS Number: 19-472622

The MLS
California Los Angeles County Los Angeles 90004 East Hollywood

328 N Alexandria Ave, Los Angeles, CA

Not Listed for Sale

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