NOT LISTED FOR SALE

508 N Ardmore Ave Los Angeles, CA 90004

East Hollywood Neighborhood
11 Beds
6 Baths
4,103 Sq Ft
8,247 Sq Ft Lot

Last Sold November 19, 2019

Last sale price $1,690,000 $412 Per Sq Ft

15 Days on Market

About This Home

As of November 2019

-Located 1.5 Miles from Larchmont & 3.5 Miles from Downtown Los Angeles -Close Proximity to Dining, Retail Shopping, & Entertainment of Koreatown & Hollywood -Outstanding Unit Mix of Three-Bedroom Plus Den House & Two-Bedroom Units -Four of the Units Were Built in 1987 -Large 8,247-Square Foot Lot Zoned R3 - Presents Redevelopment Opportunity -Convenient Access to Metro Stations & Freeways - Immediate Transit to Employment Hubs of Los Angeles & Downtown -Fully Remodeled Three-Bedroom Plus Den House with Private Front Yard -Partial Copper Plumbing, Eight Parking Spaces, On-Site Laundry Facility, & Security Camera System -Four of the Five Units Have Been Remodeled -Over 22% in Rental Upside -Current Cap Rate of 5.50% & Current GRM of 12.69 -Pro-Forma Cap Rate of 7.19% & Pro-Forma GRM of 10.35

Last Agent to Sell the Property

Jonathan Nikfarjam

Shield CRE, Inc. License #01856803 Listed on: 09/03/2019

Last Buyer's Agent

AJ Jamasbi

Dimora Realty Group, Inc. License #01896080

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1916

Lot Details

  • 8,247 Sq Ft Lot

Interior Spaces

  • 4,103 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 11 Bedrooms
  • 6 Bathrooms

Parking

  • 8 Open Parking Spaces
  • 8 Parking Spaces
  • Assigned Parking

Listing and Financial Details

  • Assessor Parcel Number 5520-012-015

Community Details

Overview

  • 2 Buildings
  • 5 Units

Building Details

  • Rent Control
  • Vacancy Allowance $6,678

Property Details

Home Type

Multi-Family

Year Built

Built in 1916

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 4103
  • Price Per Unit: 339000.00
  • Stories: 2
  • Year Built: 1916
  • Number Of Photos: 13
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 11
  • Dining Room: 0
  • Family Room: 0
  • Total Bathrooms: 6.00
  • Den: 0
  • Price Per S Q F T: 413.11

Exterior Features

  • Tennis Court Y/N: No
  • Paved: Yes
  • Pool: No

Garage/Parking

  • Other Spaces: 8
  • Parking Garage: Assigned
  • Total Parking: 8

Utilities

  • Number Electric Meters: 5
  • Number Gas Meters: 5
  • Water Expense: 4143.00
  • Water Heaters: Yes

Fee Information

  • Gas Expense: 336.00
  • Insurance Expense: 1846.00
  • Maintenance Expense: 2000.00
  • Other Expense: 3500.00

Lot Info

  • Assessed Improvement Value: 287640
  • Assessed Land Value: 671160
  • Assessor Parcel Number: 5520-012-015
  • Geocode Override: No
  • Lot Size Area: 8247

Rental Info

  • Total Actual Rent: 133572.00
  • Rent Control: Yes

Multi Family

  • Unit Type: 2106, 2107
  • Gross Rent Multiplier: 12.69
  • Number Of Units: 5
  • Rent Control: 100
  • Total Annual Expense: 33733
  • Type Of Units: 3 Br, 2 Br
  • Vacancy Allow: 6678
  • Vacancy Allow Percent: 5.00
  • Vacancy Rate: 5%

Tax Info

  • Tax Expense: 21188.00
  • Tax Percent: 1.25
  • Tax Total: 21188.00

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
11/19/2019 11/19/19 Sold $1,690,000 -0.3% $412 / Sq Ft
09/03/2019 09/03/19 For Sale $1,695,000 -- $413 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Jonathan Nikfarjam

    Seller's Agent in 2019

    Jonathan Nikfarjam

    Shield CRE, Inc.

    (310) 880-6807

    74 Total Sales

    Jonathan Nikfarjam
    Section Image

  • A

    Buyer's Agent in 2019

    AJ Jamasbi

    Dimora Realty Group, Inc.

    Section Image
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Map

Source: The MLS

MLS Number: 19-506092

The MLS
California Los Angeles County Los Angeles 90004 East Hollywood

508 N Ardmore Ave, Los Angeles, CA

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