508 North Ardmore Avenue

Los Angeles, CA 90004

$1,750,000
Price
11
Beds
6
Baths
4,103 Sq. Ft.
$427 / Sq. Ft.
4,103
Sq. Ft.
$427
per Sq. Ft.

Description

We are pleased to present for sale this true Value-add investment opportunity located in the East Hollywood, Koreatown area of Los Angeles. 508 North Ardmore Avenue consists of one three (3) Bedroom, Two (2) Bath plus Den Single Family Residence along with four 2 Bedrooms, 1 Bathroom units. The 4 units were built in 1987 and appear to be Non-Rent Controlled apartments under Los Angeles City rent control. The Three Bedroom House has been remodeled and has a private yard and partial copper plumbing....We are pleased to present for sale this true Value-add investment opportunity located in the East Hollywood, Koreatown area of Los Angeles. 508 North Ardmore Avenue consists of one three (3) Bedroom, Two (2) Bath plus Den Single Family Residence along with four 2 Bedrooms, 1 Bathroom units. The 4 units were built in 1987 and appear to be Non-Rent Controlled apartments under Los Angeles City rent control. The Three Bedroom House has been remodeled and has a private yard and partial copper plumbing. There are 5 parking spaces, on-site laundry, individual hot water heaters, Central Heating and Air Conditioning and Security Camera System in place. Plenty of rental upside. Two units are currently vacant. Building square feet is approximately 4,103 and sits on a lot size of approximately 8,250 square feet of land. Zoned as LAR3. The subject property is in close proximity to Downtown Los Angeles, Hollywood, Silver Lake, Echo Park and Korea town and conveniently located near the 101 Freeway.
  1. Listed by Salar Farshchi Tabrizi • DRE #02095885 • Brokerage DRE #01811831 • Equity Union • 919-702-6650

Property Details for 508 North Ardmore Avenue

Parking Spaces Total
5
Private Pool
No
Total Units
5.0
Building Type
Detached
Lot Size Source
Assessor
Living Area
4103
Assessor Parcel Number
5520-012-015
Property Attached YN
false

Location

Listing Courtesy of Equity Union, Salar Farshchi Tabrizi, DRE #02095885
Add your commute
LISTING UPDATED: 04/23/2024 08:58 AM

Property Details for 508 North Ardmore Avenue

StatusActive
MLS #SR24080810
Days on Market11
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeResidential Income
Year Built1916
Lot Size0.19 AC / 8,250 SF
CountyLos Angeles County

Location

Listing Courtesy of Equity Union, Salar Farshchi Tabrizi, DRE #02095885
Add your commute

Building Information for 508 North Ardmore Avenue

Stories1Residences-Year Built1916Building Size-Lot Size0.19 AC / 8,250 SF

Payment Calculator

$11,383 per month

30 year fixed, 7.25% Interest

Principal and Interest

$9,550

Property Taxes

$1,833

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 508 North Ardmore Avenue

Income / Expense / Tax Details
Income Details
  • Gross Income: $133,089
  • Gross Scheduled Income: $0
  • Vacancy Allowance Rate: 5
  • Gross Operating Income: $133,089
  • Net Operating Income: $99,979
  • Gross Multiplier: 13.14
Expense Details
  • Operating Expense: $0
  • Insurance Expense: $0
  • Professional Management Expense: $0
  • Trash Expense: $0
  • Water Sewer Expense: $0
  • Total Expenses: $33,110
Tax / Assessment Info
  • Tax Tract Number: 1694
  • Tax Census Tract: 1925.20
  • Tax Lot: 115
Community / Development
Community / Development
  • Community Features: Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area
  • Heating Type: Central
  • Heating: Central
Exterior Features
  • Entry Location: Street
  • Pool Features: None
  • Pool Description: None
Land/Lot Info
  • Lot Features: 2-5 Units/Acre, Lot 6500-9999
  • Number Of Units: 5
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: One
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Uncovered Spaces: 5
  • Open Other Spaces Total: 5
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,103
  • Unit Type Total Rent: $1,103
  • Unit Type Pro Forma: 2500
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $2,140
  • Unit Type Total Rent: $2,140
  • Unit Type Pro Forma: 2500
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Furnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $2,000
  • Unit Type Pro Forma: 2500
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Furnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $2,000
  • Unit Type Pro Forma: 2500
  • Unit Type Type: 4
Unit 5
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $4,066
  • Unit Type Total Rent: $4,066
  • Unit Type Pro Forma: 4200
  • Unit Type Type: 5
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1

Property History for 508 North Ardmore Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 508 North Ardmore Avenue

Taxable ValueLand$1,334,996Additions$441,494Total$1,776,490
Tax Record2023$21,999 ($1,833 / month)
Home Facts
Total Finished SqFt4,103 SqFtAbove Grade Finished SqFt4,103 SqFtStories1Lot Size8,247 SqFtStyleMulti-Family Res (5+ Units)Year Built1916ZoningLAR3CountyLOS ANGELESAPN5520-012-015

Schools near 508 North Ardmore Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Alexandria Avenue Elementary School
PublicK to 5

Virgil Middle School
Public6 to 8

Academic Leadership Community School
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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508 North Ardmore Avenue is a mixed use property for sale in Los Angeles, CA 90004. This property was listed for sale on April 21, 2024 by Equity Union, it's currently listed at $1,750,000. It has been on the market for a total of 11 days and was last sold on September 19, 2019. This listing's school district is Los Angeles Unified School District. Nearby schools include Alexandria Avenue Elementary School, Virgil Middle School and Contreras Learning Center-School Of Social Justice. 508 North Ardmore Avenue is a 11-bed, 6-bath, 4,103 sqft mixed use property built in 1916.

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 Equity Union, Salar Farshchi Tabrizi, DRE #02095885

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.