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1128 Ardmore, Los Angeles, California 90006, Los Angeles, 90006 - bed, bath

1128 Ardmore, Los Angeles, California 90006 home-pic-0
ACTIVE$3,595,000
1128 Ardmore, Los Angeles, California 90006
0Bed
0Bath
7,750Sqft
5,903.4Lot
Year Built
2024
Close
-
List price
$3.6M
Original List price
$3.6M
Price/Sqft
$464
HOA
-
Days on market
-
Sold On
-
MLS number
DW25038592
Home ConditionExcellent
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $3.60M(75th), sqft - 7750(75th), beds - undefined(50th), baths - undefined(50th).

1128, 1128 1/2, 1130 & 1130 1/2 S Ardmore Ave, Los Angeles CA 90006 Appraised at:$3,595,000 Projected Cap rate: 6.483% Presenting a Clean Modern look BRAND NEW CONSTRUCTION Multi-family Investment 4 Unit Property. Property’s breakdown is the following: 4Plex consists of 2 Duplexes; total of 4units Mix of (2) 5 bedrooms & 5 bathrooms & (2) 5 bedrooms & 6 bathrooms Total of 20 Bedrooms and 22 Baths Total approx. Living sqft: 6,880 ( Not including 870 sqft Garage) Total approx. Lot sqft: 5,903 Unit 1 sqft: 1,652.5 Unit 2 sqft: 1,652.5 Unit 3 sqft: 2,222.5 Unit 4 sqft: 2,222.5 All units are Quad-Level & separately metered for each utility service. This project is located in a hot rental area. Location, location, location! Multi family units are in high demand in this area. This project being Brand New Construction, these units are easy to lease out. Property has little to no maintenance; super convenient for the owner. Buyer(s) to independently verify all information on this listing. Listing agent is not liable for any information that turns out incorrect. The accuracy of all information, regardless of source, including but not limited to square footages, lot sizes, income, and expenses, is deemed reliable but not guaranteed.

Nearby schools

3/10
Los Angeles Elementary School
Public,•K-5•0.2mi
/10
Mariposa-Nabi Primary Center
Public,•K-2•0.3mi
3/10
Hobart Boulevard Elementary School
Public,•K-5•0.3mi
3/10
Wilton Place Elementary School
Public,•K-5•0.9mi
2/10
Twenty-Fourth Street Elementary School
Public,•K-5•1.2mi
6/10
Carson-Gore Academy Of Enviornmental Studies
Public,•K-5•1.2mi
3/10
Berendo Middle School
Public,•6-8•0.5mi
5/10
Pio Pico Middle School
Public,•6-8•1.0mi
3/10
Johnnie Cochran, Jr., Middle School
Public,•6-8•1.5mi
3/10
Rfk Community Schools-Ambassador-Global Leadership
Public,•6-12•0.8mi
4/10
Rfk Community Schools-Los Angeles High School Of The Arts
Public,•9-12•0.8mi
5/10
Rfk Community Schools- For The Visual Arts And Humanities
Public,•9-12•0.8mi
4/10
West Adams Preparatory High School
Public,•9-12•1.0mi
4/10
Los Angeles Senior High School
Public,•9-12•1.9mi

Price History

Date
Event
Price
07/28/23
Sold
$1,005,000
Condition Rating
Excellent
This property is brand new construction, built in 2024, explicitly described as having a 'Clean Modern look'. All components, including kitchens with new stainless steel appliances, contemporary cabinetry and countertops, modern bathrooms with new fixtures and tiling, and new flooring throughout, are virtually new and meet current quality standards. There is no deferred maintenance, aligning perfectly with the 'excellent' condition criteria.
Pros & Cons

Pros

Brand New Construction: Built in 2024, this property is brand new construction, offering modern aesthetics, minimal immediate maintenance, and appeal to prospective tenants.
Strong Investment Potential: With a projected cap rate of 6.483% and an appraised value matching the list price, this property presents a robust investment opportunity in a high-demand market.
Prime Rental Location: Located in Koreatown, a 'hot rental area' with high demand for multi-family units, ensuring easy lease-up and stable occupancy rates.
High-Capacity, Spacious Units: Comprising four units with a mix of 5 bedrooms/5 bathrooms and 5 bedrooms/6 bathrooms, totaling 20 bedrooms and 22 baths across 6,880 sqft of living space, maximizing rental income potential.
Low Maintenance & Separately Metered: As new construction, the property requires little to no maintenance, and all units are separately metered for utilities, simplifying ownership and reducing landlord expenses.

Cons

Limited Outdoor Space: The lot size of 5,903 sqft is smaller than the total living space, suggesting minimal private outdoor areas for tenants, which may be a drawback in a dense urban setting.
Niche Tenant Market for Unit Size: The prevalence of 5-bedroom units, while maximizing income, might appeal to a more specific tenant demographic (e.g., large families or co-living groups), potentially narrowing the tenant pool compared to properties with more varied unit sizes.
Lack of Detailed Amenities: The property description focuses on unit count and investment metrics but lacks specific details on in-unit amenities (e.g., laundry, appliance brands) or common area features beyond the garage, which could be a competitive factor for tenants.

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