1421 Ridge Way

1421 Ridge Way

Los Angeles, CA 90026

$1,050,000
Last Sold Price
5
Beds
5
Baths
4,317 Sq. Ft.
$243 / Sq. Ft.
4,317
Sq. Ft.
$243
per Sq. Ft.

Closed 2/10/21

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Closed 2/10/21

Virtual Tour

Description

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...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.
  1. Listed by Anngel Benoun • DRE #01014735 • Dilbeck Real Estate
  2. Listed by Randye Saunders • DRE #01333050 • Dilbeck Real Estate

Property Details for 1421 Ridge Way

Parking Spaces Total
0
Private Pool
No
Cooling Type
Wall/Window Unit(s)
Total Units
5.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
4317
Assessor Parcel Number
5405-009-010

Location

Listing Courtesy of Dilbeck Real Estate, Anngel Benoun, DRE #01014735; Dilbeck Real Estate, Randye Saunders, DRE #01333050

Sold By Dilbeck Real Estate, Michale McGee, DRE #01442673

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LISTING UPDATED: 02/10/2021 09:23 AM

Property Details for 1421 Ridge Way

StatusClosed
MLS #SR20158670
Days on Market110
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1911
Lot Size0.15 AC / 6,394 SF
CountyLos Angeles County

Location

Listing Courtesy of Dilbeck Real Estate, Anngel Benoun, DRE #01014735; Dilbeck Real Estate, Randye Saunders, DRE #01333050

Sold By Dilbeck Real Estate, Michale McGee, DRE #01442673

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Virtual Tour

Building Information for 1421 Ridge Way

Stories2Residences-Year Built1911Building Size-Lot Size0.15 AC / 6,394 SF

Payment Calculator

$6,895 per month

30 year fixed, 7.25% Interest

Principal and Interest

$5,730

Property Taxes

$1,165

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1421 Ridge Way

Rental Info
Rental Info
  • Tenant Pays: Electricity, Gas, Water
Income / Expense / Tax Details
Income Details
  • Gross Income: $78,178
  • Gross Scheduled Income: $78,178
  • Gross Operating Income: $78,178
  • Net Operating Income: $58,631
  • Cap Rate: 5.2
  • Financing: Cash
Expense Details
  • Operating Expense: $0
  • New Taxes Expense: $22,500
  • Fuel Expense: $0
  • Licenses Expense: $459
  • Electric Expense: $0
  • Insurance Expense: $1,340
  • Maintenance Expense: $4,080
  • Professional Management Expense: $9,000
  • Other Expense: $72
  • Trash Expense: $0
  • Water Sewer Expense: $2,367
  • Total Expenses: $19,547
Tax / Assessment Info
  • Tax Block: 18
  • Tax Tract Number: 197500
  • Tax Census Tract: 1975.00
  • Tax Lot: 7
Community / Development
Community / Development
  • Community Features: Urban
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: See Remarks, Washer Hookup
Exterior Features
  • Pool Features: None
  • Pool Description: None
Land/Lot Info
  • Lot Features: Landscaped, Up Slope from Street
  • Number Of Units: 5
  • Land Lease: No
  • Land Lease Type: Fee
  • Water: Public
  • Sewer: Unknown
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking: No
  • Parking Garage: On street
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
  • Parking Features: Street
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,300
  • Unit Type Total Rent: $1,300
  • Unit Type Pro Forma: 2350
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,591
  • Unit Type Total Rent: $1,591
  • Unit Type Pro Forma: 2200
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $792
  • Unit Type Total Rent: $792
  • Unit Type Pro Forma: 2200
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $2,345
  • Unit Type Total Rent: $2,345
  • Unit Type Pro Forma: 2345
  • Unit Type Type: 4
Unit 5
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $811
  • Unit Type Total Rent: $811
  • Unit Type Pro Forma: 2200
  • Unit Type Type: 5
Unit Information
  • Number Of Units Leased: 5
  • Rent Controlled: Yes
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 0

Property History for 1421 Ridge Way

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1421 Ridge Way

Taxable ValueLand$832,320Additions$260,100Total$1,092,420
Tax Record2023$13,980 ($1,165 / month)
Home Facts
Total Finished SqFt4,317 SqFtAbove Grade Finished SqFt4,317 SqFtLot Size6,393 SqFtStyleMulti-Family Res (5+ Units)Year Built1911ZoningLAR2CountyLOS ANGELESAPN5405-009-010

Schools near 1421 Ridge Way

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Logan Academy of Global Ecology
Public - K to 8
Belmont Senior High School
Public - 9 to 12
Miguel Contreras Learning Complex School
Public - 9 to 12
Ramon C. Cortines School Of Visual And Performing Arts
Public - 9 to 12
Rating
School
Distance
Logan Academy of Global Ecology
PublicK to 8

Belmont Senior High School
Public9 to 12

Miguel Contreras Learning Complex School
Public9 to 12

Ramon C. Cortines School Of Visual And Performing Arts
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Dilbeck Real Estate, Anngel Benoun, DRE #01014735; Dilbeck Real Estate, Randye Saunders, DRE #01333050

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.