Sold: Jun 28, 2021
Address
706 N Vendome Street Los Angeles, CA
Price
$ 1,575,000
Property Attributes
  • MLS#21707252
  • TypeIncome
  • CountyLOS ANGELES
  • CityLos Angeles
  • Zip90026
  • Style
  • Price$ 1,575,000
  • Bedrooms7
  • Full Bathrooms7
  • Half Bathrooms0
  • Sqr Footage4000
  • Lot Size9,414 SqFt
Listing Provided Courtesy Of:
Jonathan Swire with The Agency.
Data Source:
California Regional MLS (CRMLS) - 25 - CA
Property Description

7 units in Silver Lake on a 9,399 SF lot zoned LAR 1.5. City of LA Assessor says 7 units, but City of LA Housing says 5 units. Per Owner there are 5 legal units + 1 Non-conforming SFR in the back (it rents as a 2/2 + 0+1 and was originally permitted as a Workshop). Given that the City of LA is allowing and encouraging ADU's, there is a good chance the City will allow these two units to be made legal. Buyer to verify. Currently there are 4 studios, 1 1 bedroom and a 2 Bed/3 bath Non-Conforming house in the rear of the property (Rented as a 2/2 and 0/1). Subject to City of LA Rent Control. Seller does not have plans/permits nor are they exactly sure what can be built but has been advised by a Developer that 6 units can be built on the site, each averaging around 2,000 SF. Estimated sellout value would be around $8.4MM ($710/SF). Buyer to verify. Seller upgraded the main electrical panel in 2011 to 200 AMPs. There are 7 carport parking spaces onsite. 2 units can be delivered vacant. Contact LA for more info.

Price History
3/18/2021 Listed $1,999,000
3/31/2021 13% - $1,749,000
4/20/2021 6% - $1,649,000
5/14/2021 5% - $1,575,000

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Income Average in 90026

Price
AVG $1.92M
$1.58M

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