1509 West Florence Avenue

Los Angeles, CA 90047

$899,000
Price
3
Beds
2
Baths
2,288 Sq. Ft.
$393 / Sq. Ft.
2,288
Sq. Ft.
$393
per Sq. Ft.

Description

Great development opportunity near the Hollywood Park entertainment complex, SOFI stadium and the Florence/Crenshaw Metro Line. Eligible for new CHIP ordinance that can allow additional 50% density increase and significant parking reductions (See Docs). Zoned LAC2, TOC Tier 1, ED1 Eligible. Adjacent parcel also for sale at 1513 W Florence Blvd. Bringing total lot area to 11,246. Property consists of two separate buildings. A 1412 sq ft front building and a 876 sq ft rear building. The property addresses...Great development opportunity near the Hollywood Park entertainment complex, SOFI stadium and the Florence/Crenshaw Metro Line. Eligible for new CHIP ordinance that can allow additional 50% density increase and significant parking reductions (See Docs). Zoned LAC2, TOC Tier 1, ED1 Eligible. Adjacent parcel also for sale at 1513 W Florence Blvd. Bringing total lot area to 11,246. Property consists of two separate buildings. A 1412 sq ft front building and a 876 sq ft rear building. The property addresses are 1509,1511 and 1511 1/2. All information provided deemed reliable but not guaranteed. Buyer and buyers agent to verify all information with the city and county zoning and planning for accuracy. Some alterations to the units were done without permit. Check with the city to satisfy any questions or concerns.
  1. Listed by Shamim Khorsand Mashhadi • DRE #02042990 • Brokerage DRE #01050989 • RE/MAX ESTATE PROPERTIES

Property Details for 1509 West Florence Avenue

Water Front
None
Zoning
LAC2
Parcel Number
6015034017
Total Units
2.0
Living Area
2288
Source Living Area
Vendor Enhanced
Area
Los Angeles Southwest (C34)
Vacancy Rate
0
LISTING UPDATED: 09/10/2024 10:32 PM

Property Details for 1509 West Florence Avenue

StatusActive
MLS #24-404562
Days on Market91
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1937
Lot Size0.11 AC / 4,820 SF
CountyLos Angeles County

Building Information for 1509 West Florence Avenue

Stories1Residences-Year Built1937Building Size-Lot Size0.11 AC / 4,820 SF

Property Information for 1509 West Florence Avenue

Community / Development
Community / Development
  • Tax Mello Roos: No
  • Number Of Units: 2
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 1
  • Number Of Buildings: 2
  • Type Of Units: res/comm
  • View: No
  • View Description: None
  • View: None
  • Security Features: Gated
  • Direction Faces: South
  • Property Condition: Additions/Alter
  • Additions Alterations: Yes
Contract Info
Contract Info
  • Financing: Cash, Cash To New Loan
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $129,600
  • Net Operating Income: $72,640.00
  • Gross Income: $116,640
  • Gross Rent Multiplier: $8.00
  • Vacancy Allow Percent: 10.00%
  • Total Annual Expense: 44000
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1107
  • Lot Size Square Feet: 4820
  • Lot Size Dimensions: 45x107
  • Source Lot Size Dimensions: Vendor Enhanced
Parking Details
Parking Details
  • Parking Garage: Carport
  • Total Parking: 2
  • Carport Spaces Total: 2
  • Parking Features: Carport
Interior Features
Interior Features
  • Levels: One
  • Cooling: None
  • Cooling Type: None
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Range/Oven, Refrigerator, Dryer, Washer
  • Laundry: Washer Included, Dryer Included
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: Other
Lease Terms
Lease Terms
  • Entry Date: 06-17-2024
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $900.00
  • Unit Actual Rent: $900.00
  • Unit Projected Rent: $900.00
  • Like Units: 12
Unit Details
  • Unit Type Type: 2106
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $230,000.00
  • Assessed Improvement Percent: 34.59
  • Assessed Land Value: $435,000.00
  • Assessed Land Percent: 65.41
  • Assessed Total Value: $665,000.00

Property History for 1509 West Florence Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1509 West Florence Avenue

Taxable ValueLand$435,000Additions$230,000Total$665,000
Tax Record2023$8,466 ($706 / month)
Home Facts
Total Finished SqFt2,288 SqFtAbove Grade Finished SqFt2,288 SqFtStories1Lot Size4,818 SqFtStyleOffice BuildingYear Built1937ZoningLAC2CountyLOS ANGELESAPN6015-034-017

Schools near 1509 West Florence Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Charter - K to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Raymond Avenue Elementary School
PublicK to 5

George Washington Preparatory High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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1509 West Florence Avenue is a multi-family home for sale in Los Angeles, CA 90047. This property was listed for sale on June 16, 2024 by RE/MAX ESTATE PROPERTIES, it's currently listed at $899,000. It has been on the market for a total of 91 days and was last sold on July 8, 2022. This listing's school district is Los Angeles Unified School District. Nearby schools include Raymond Avenue Elementary School, ICEF Lou Dantzler Preparatory Academy Charter and Augustus F. Hawkins High A Critical Design And Gaming. 1509 West Florence Avenue is a 3-bed, 2-bath, 2,288 sqft multi-family home built in 1937.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of RE/MAX ESTATE PROPERTIES, Shamim Khorsand Mashhadi, DRE #02042990

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.