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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
DW25131564
Home ConditionExcellent
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $3.60M(67th), sqft - 7750(67th), beds - undefined(50th), baths - undefined(50th).

1128, 1128 1/2, 1130 & 1130 1/2 S Ardmore Ave, Los Angeles CA 90006 Option For Sale or Master Lease 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 Note:Property is fully leased. 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, which immediately qualifies it for an excellent rating. The images confirm a clean, modern aesthetic throughout, featuring new light wood-look laminate flooring in living areas, contemporary white subway tile and vanities in the bathrooms, and recessed lighting. All components appear new, meeting current quality standards with no signs of wear or deferred maintenance.
Pros & Cons

Pros

Brand New Construction: Built in 2024, this property offers a clean, modern look with minimal maintenance requirements, making it highly attractive to tenants and convenient for the owner.
Strong Investment Performance: The property is fully leased with a projected cap rate of 6.483%, indicating immediate cash flow and a solid return on investment for a multi-family asset.
Prime Rental Market Location: Located in Koreatown, Los Angeles, a 'hot rental area' with high demand for multi-family units, ensuring consistent tenant interest and potential for rental growth.
Spacious & High-Capacity Units: Comprising four quad-level units with a mix of 5-bedroom/5-bathroom and 5-bedroom/6-bathroom configurations, totaling 20 bedrooms and 22 baths, appealing to larger households or co-living arrangements.
Separately Metered Utilities: All units are separately metered for each utility service, reducing landlord operating expenses and promoting tenant accountability for usage.

Cons

High Initial Investment: The list price of $3,595,000 represents a significant capital outlay, which may limit the pool of potential investors.
Large Unit Configuration: While currently fully leased, the prevalence of 5-bedroom units might cater to a more specific tenant demographic, potentially impacting future re-leasing efforts or tenant turnover compared to properties with smaller unit sizes.
Significant Price Appreciation from Last Sale: The substantial increase from the last recorded sale price of $1,005,000 to the current list price of $3,595,000, while likely due to new construction, requires thorough due diligence to understand the value justification and market comparables.

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