$6,250,000

$27,916 /mo - est. payment

For Sale

2801 Francis Ave Los Angeles, CA 90005 (Mid City)

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  • Multi-Family Home
  • 2 Bedrooms
  • 10 full Bathrooms
  • 6,048 sqft
  • $1,033/sqft
  • Lot size: 0.46 acres
  • Built in 1923
  • 18 Days on Trulia

Home Details for 2801 Francis Ave


For Sale > CA > Los Angeles > 90005 > Mid City > 2801 Francis Ave
PRIME KOREATOWN ADJACENT DEVELOPMENT OPPORTUNITY ""RTI"": PRICE IS INCLUSIVE OF 3 CONTIGUOUS LOTS (APN's 5077021014, 5077021015, 5077022025). Land area TOTALING 20,250 SQFT, R4-2. Proposed 50 UNITS (by right), NO LOW INCOME, all units market rate upon completion. PROPERTY DELIVERED RTI UPON CLOSING around MAY 1, 2017. Net Rentable square footage proposed: APPROX 47,000 sqft. Majority of units 2 BED, 2 BATH. LARGE units with WASHER/DRYER and balconies in each unit. Other projects on same block newly completed and breaking ground imminently (total of 110 units). NEW RENTER DEMOGRAPHICS ar...e absorbing newly built units at an incredibly fast rate, AND RENTS ARE STEADILY INCREASING FOR NEW CONSTRUCTION UNITS. 50 UNITS: 34 units 2bed/2bath; 4 Studios, 12 units 1bed, 1-1.5 bath. NO QUIMBY fees, NO PROP JJJ. EMAIL LA FOR FULL MARKETING PACKET.
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Schools
Hoover Street Elementary School
Average

Berendo Middle School
Average

High School
Below Average
Moderate
Crime
Features of this property

Information last updated on 03/20/2017 12:00 AM:
    • Price: $6,250,000
    • 2 Bedrooms
    • 10 full Bathrooms
    • Multi-Family
    • Status: For Sale
    • Lot Size: 0.46 acres
    • Built in 1923
    • Neighborhood: Mid City
    • MLS/Source ID: 17208024
    • Zip: 90005
    • 6,048 sqft

2801 Francis Ave Public Records


Official property, sales, and tax information from county (public) records as of 07/2016:
    • Apartment house (5+ units)
    • 6,048 sqft
    • 10 Units
    • Tax Rate Code Area: 0-067
    • 2 Bedrooms
    • Lot Size: 6,750 sqft
    • Subdivision: WEST LAKE HEIGHTS TRACT
    • 10 Bathrooms
    • Built In 1923
    • County: Los Angeles
2801 Francis Avenue, Los Angeles CA
2801 Francis Ave
$6,250,000
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Home Expenses For 2801 Francis Ave


Price History & Trends


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This Home
$6,250,000
VS
$880,000
$687,500
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Real Estate Trends in Mid City

Average listing price for similar homes $6,018,125 4% below listing price
Average listing price for all homes in Mid City $1,031,171 506% below listing price
Median sale price for all homes in Mid City $687,500 89% below listing price

Sold Homes near 2801 Francis Ave


Address Distance Property Type Sold price Sold date Bed Bath Sqft
6054 Cadillac Ave, Los Angeles CA 5.30 Multi-Family $6,600,000 09/30/16 - - 14,877
7555 De Longpre Ave, Los Angeles CA 4.72 Multi-Family 06/24/16 18 18 10,539
1218 N Laurel Ave, West Hollywood CA 5.05 Multi-Family $5,000,000 01/24/17 - 16 12,318
2006 La Brea Ter, Los Angeles CA 4.79 Multi-Family $4,950,000 01/17/17 4 5 4,273
Listing provided via the MLS:

Listing Provided by

Tannaz Kamran Rahbar, Keller Williams Rlty Brentwood, (310) 826-8200

Agent Phone: (310) 995-7545