8716 Ramsgate Avenue

Los Angeles, CA 90045

$1,400,000
Last Sold Price
8
Beds
4
Baths
3,260 Sq. Ft.
$429 / Sq. Ft.
3,260
Sq. Ft.
$429
per Sq. Ft.

Description

We are proud to present an exceptional investment opportunity in the heart of Westchester, Los Angeles. This fully vacant fourplex, with four spacious two-bedroom one bath units, offers a remarkable opportunity for value-add investors and owner-users alike. The ability to create high-quality housing options, ready to be rented at market rates after the Ellis Expiration on November 3, 2023, presents a compelling prospect. Furthermore, the potential to add Accessory Dwelling Units (ADUs), subject to...We are proud to present an exceptional investment opportunity in the heart of Westchester, Los Angeles. This fully vacant fourplex, with four spacious two-bedroom one bath units, offers a remarkable opportunity for value-add investors and owner-users alike. The ability to create high-quality housing options, ready to be rented at market rates after the Ellis Expiration on November 3, 2023, presents a compelling prospect. Furthermore, the potential to add Accessory Dwelling Units (ADUs), subject to state and local laws, enhances the property's appeal. Situated in Westchester, a thriving neighborhood known for its economic strength and rapid growth, this property is poised to capitalize on the flourishing rental demand. Its strategic location near major employers, renowned educational institutions, and proximity to Playa Del Rey offers a lifestyle of convenience and relaxation, further boosting its attractiveness to potential tenants.
  1. Listed by Benjamin J. Hsiang • DRE #01438644 • Brokerage DRE #01438644 • Realty Investment Advisors, Inc.
  2. Listed by Don Favia • DRE #01841258 • Brokerage DRE #01438644 • Realty Investment Advisors, Inc.

Property Details for 8716 Ramsgate Avenue

Zoning
LAR3
Parcel Number
4125015018
Total Units
4.0
Living Area
3260
Source Living Area
Other
Area
Westchester (C29)
Vacancy Rate
100%
Lot Size Area
6820

Location

Listing Courtesy of Realty Investment Advisors, Inc., Benjamin J. Hsiang, DRE #01438644; Realty Investment Advisors, Inc., Don Favia, DRE #01841258

Sold By Mr MGM Inc., Hubert Chen, DRE #02006134

Add your commute
LISTING UPDATED: 07/28/2023 02:03 PM

Property Details for 8716 Ramsgate Avenue

StatusSold
MLS #23-260051
Days on Market90
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1951
Lot Size0.16 AC / 6,820 SF
CountyLos Angeles County

Location

Listing Courtesy of Realty Investment Advisors, Inc., Benjamin J. Hsiang, DRE #01438644; Realty Investment Advisors, Inc., Don Favia, DRE #01841258

Sold By Mr MGM Inc., Hubert Chen, DRE #02006134

Add your commute

Building Information for 8716 Ramsgate Avenue

Stories2Residences-Year Built1951Building Size-Lot Size0.16 AC / 6,820 SF

Payment Calculator

$9,118 per month

30 year fixed, 7.25% Interest

Principal and Interest

$7,640

Property Taxes

$1,478

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 8716 Ramsgate Avenue

Community / Development
Community / Development
  • Number Of Units: 4
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Apartments
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $119,892
  • Net Operating Income: $89,267.00
  • Gross Income: $123,600
  • Cap Rate: 6.38%
  • Gross Rent Multiplier: $11.33
  • Vacancy Allow Percent: 3.00%
  • Total Annual Expense: 30625
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1566
  • Lot Size Square Feet: 6820
Parking Details
Parking Details
  • Parking Garage: Other
  • Total Parking: 4
Interior Features
Interior Features
  • Cooling: None
  • Cooling Type: None
  • Heating: None
  • Heating Type: None
  • Equipment: None
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 04-17-2023
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,575.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $10,300.00
  • Like Units: 4
Unit Details
  • Unit Type Type: 2106
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $337,743.00
  • Assessed Improvement Percent: 23.95
  • Assessed Land Value: $1,072,201.00
  • Assessed Land Percent: 76.05
  • Assessed Total Value: $1,409,944.00

Property History for 8716 Ramsgate 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 8716 Ramsgate Avenue

Taxable ValueLand$1,093,645Additions$344,497Total$1,438,142
Tax Record2023$17,739 ($1,478 / month)
Home Facts
Total Finished SqFt3,260 SqFtAbove Grade Finished SqFt3,260 SqFtLot Size6,820 SqFtStyleQuadraplexYear Built1951ZoningLAR3CountyLOS ANGELESAPN4125-015-018

Schools near 8716 Ramsgate 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
Charter - K to 5
Rating
School
Distance
Westport Heights Elementary School
PublicK to 5

Westchester Enriched Sciences Magnets
Public9 to 12

Open Charter Magnet School
CharterK to 5

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.

Similar Homes

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

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 Realty Investment Advisors, Inc., Benjamin J. Hsiang, DRE #01438644; Realty Investment Advisors, Inc., Don Favia, DRE #01841258

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.