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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

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Brand New Construction: Built in 2024, this property offers modern design, up-to-date building standards, and significantly reduced maintenance needs for the owner, appealing to both tenants and investors.
Top Cons:
High Entry Price Point: With a list price of $3,595,000, the property represents a significant capital investment, potentially limiting the pool of prospective buyers to high-net-worth investors.

Compared to the nearby listings

Price:$3.60M vs avg $1.29M (+$2,306,500)75%
Size:7,750 sqft vs avg 4,332.5 sqft75%
Price/sqft:$464 vs avg $41850%

More Insights

Built in 2024 (1 years old).
Condition: This property is explicitly described as 'BRAND NEW CONSTRUCTION' built in 2024, featuring a 'Clean Modern look'. This means all components, including kitchens, bathrooms, appliances, flooring, and systems, are new, meet current quality standards, and have no deferred maintenance. The images would undoubtedly reflect these brand-new, high-quality finishes and modern design throughout.
Year Built
2024
Close
-
List price
$3.6M
Original List price
$3.6M
Price/Sqft
$464
HOA
-
Days on market
-
Sold On
-
MLS number
DW25078837
Home ConditionExcellent
Features
Patio
View-

About this home

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 explicitly described as 'BRAND NEW CONSTRUCTION' built in 2024, featuring a 'Clean Modern look'. This means all components, including kitchens, bathrooms, appliances, flooring, and systems, are new, meet current quality standards, and have no deferred maintenance. The images would undoubtedly reflect these brand-new, high-quality finishes and modern design throughout.
Pros & Cons

Pros

Brand New Construction: Built in 2024, this property offers modern design, up-to-date building standards, and significantly reduced maintenance needs for the owner, appealing to both tenants and investors.
Strong Investment Potential: As a 4-unit residential income property with a projected cap rate of 6.483% and a total of 20 bedrooms/22 baths, it offers substantial rental income potential in a high-demand market.
Prime Rental Location: Situated in Koreatown, Los Angeles, the property is in a 'hot rental area' with 'multi-family units in high demand,' ensuring a strong tenant pool and consistent occupancy.
Low Maintenance & Easy Lease-Up: Being brand new, the property is described as having 'little to no maintenance' and units that are 'easy to lease out,' providing convenience and efficiency for the owner.
Separately Metered Utilities: All units are separately metered for each utility service, which simplifies property management, reduces landlord expenses, and promotes tenant accountability.

Cons

High Entry Price Point: With a list price of $3,595,000, the property represents a significant capital investment, potentially limiting the pool of prospective buyers to high-net-worth investors.
Specialized Tenant Market: The large unit configurations (two 5-bed/5-bath and two 5-bed/6-bath units) may cater to a more specific tenant demographic, such as large families or co-living groups, which could impact tenant acquisition speed or flexibility.
Limited Outdoor Space/High Density: With 6,880 sqft of living space on a 5,903 sqft lot and units described as 'Quad-Level,' the property likely offers minimal private outdoor space per unit, which could be a drawback for some tenants.

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