9007 Ramsgate Avenue

Los Angeles, CA 90045

$2,700,000
Price
18
Beds
8
Baths
7,084 Sq. Ft.
$381 / Sq. Ft.
7,084
Sq. Ft.
$381
per Sq. Ft.

Description

We are delighted to present an exceptional, fully vacant eight-unit property in the thriving Westchester neighborhood of Los Angeles. This unique investment opportunity, sprawled across a double-wide lot, consists of two spacious three-bedroom one bath units and six two-bedroom one units, perfect for transformation into high-quality living spaces. Along with its potential for renovation, the property comes with RTI permits and plans for a 30-unit co-living housing development, offering an alternative...We are delighted to present an exceptional, fully vacant eight-unit property in the thriving Westchester neighborhood of Los Angeles. This unique investment opportunity, sprawled across a double-wide lot, consists of two spacious three-bedroom one bath units and six two-bedroom one units, perfect for transformation into high-quality living spaces. Along with its potential for renovation, the property comes with RTI permits and plans for a 30-unit co-living housing development, offering an alternative strategy to capitalize on the area's robust rental market. Post-Ellis Expiration on November 3, 2023, the property will be ready for market-rate rentals, an attractive proposition for investors and owner-users. Situated in a region known for its economic strength and lifestyle offerings, this property, with its proximity to major employers and vibrant commercial scene, is a fantastic opportunity to invest and live in one of LA's most in-demand neighborhoods.
  1. Listed by Benjamin J. Hsiang • DRE #01438644 • Realty Investment Advisors, Inc.
  2. Listed by Don Favia • DRE #01841258 • Realty Investment Advisors, Inc.

Property Details for 9007 Ramsgate Avenue

Zoning
LAR3
Parcel Number
4125011052
Total Units
8.0
Living Area
7084
Source Living Area
Other
Area
Westchester (C29)
Vacancy Rate
100%
Lot Size Area
13943

Location

Listing Courtesy of Realty Investment Advisors, Inc., Benjamin J. Hsiang, DRE #01438644; Realty Investment Advisors, Inc., Don Favia, DRE #01841258
Add your commute
LISTING UPDATED: 08/24/2023 03:39 PM

Property Details for 9007 Ramsgate Avenue

StatusActive Under Contract
MLS #23-260165
Days on Market129
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1952
Lot Size0.32 AC / 13,943 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
Add your commute

Building Information for 9007 Ramsgate Avenue

Stories2Residences-Year Built1952Building Size-Lot Size0.32 AC / 13,943 SF

Payment Calculator

$17,726 per month

30 year fixed, 7.25% Interest

Principal and Interest

$14,735

Property Taxes

$2,991

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 9007 Ramsgate Avenue

Community / Development
Community / Development
  • Number Of Units: 8
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 2
  • 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: $253,752
  • Net Operating Income: $192,759.00
  • Gross Income: $261,600
  • Cap Rate: 7.14%
  • Gross Rent Multiplier: $10.32
  • Vacancy Allow Percent: 3.00%
  • Total Annual Expense: 60993
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.3199
  • Lot Size Square Feet: 13943
Parking Details
Parking Details
  • Parking Garage: Other
  • Total Parking: 8
Interior Features
Interior Features
  • Levels: Two
  • 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: $15,450.00
  • Like Units: 6
Unit 2 Information
  • Unit Beds: 3
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $3,175.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $6,350.00
  • Like Units: 2
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $1,286,642.00
  • Assessed Improvement Percent: 42.86
  • Assessed Land Value: $1,715,522.00
  • Assessed Land Percent: 57.14
  • Assessed Total Value: $3,002,164.00

Property History for 9007 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 9007 Ramsgate Avenue

Taxable ValueLand$1,749,832Additions$1,312,374Total$3,062,206
Tax Record2022$35,890 ($2,991 / month)
Home Facts
Total Finished SqFt7,236 SqFtAbove Grade Finished SqFt7,236 SqFtLot Size13,933 SqFtStyleQuadraplexYear Built1952ZoningLAR3CountyLOS ANGELESAPN4125-011-052

Schools near 9007 Ramsgate Avenue

This home is within Los Angeles Unified School District.
RatingSchoolTypeGradesDistance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Charter - K to 5
RatingSchoolDistance
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.

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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 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.