2623 Ellendale Place

Los Angeles, CA 90007

$17,950,000
Price
28
Beds
28
Baths
17,099 Sq. Ft.
$1,050 / Sq. Ft.
17,099
Sq. Ft.
$1,050
per Sq. Ft.

Description

Best property in the student housing area surrounding the USC campus! Discover the crown jewel of the North University District with this stunning updated historic property, perfectly tailored for USC students seeking a blend of luxury and tradition. This unique residence boasts a beautiful Spanish-hacienda design, preserving its ornate architectural details while offering modern amenities that ensure comfort and convenience. The property currently features 20 units, comprising a mix of eight two-bedroom...Best property in the student housing area surrounding the USC campus! Discover the crown jewel of the North University District with this stunning updated historic property, perfectly tailored for USC students seeking a blend of luxury and tradition. This unique residence boasts a beautiful Spanish-hacienda design, preserving its ornate architectural details while offering modern amenities that ensure comfort and convenience. The property currently features 20 units, comprising a mix of eight two-bedroom apartments and 12 one-bedroom apartments, providing ample options for students. There are preliminary plans to add six additional units by right and potentially up to eight Additional Dwelling Units, expanding the total rentable area by about 5,500 sq. ft. This enhancement could increase rental income by approximately $270,000 annually. There is an opportunity to increase the number of bedrooms inside the existing building. Each unit has ample space to add an additional bedroom. Don't miss your chance to own this remarkable piece of real estate that seamlessly blends historic charm with modern luxury.
  1. Listed by Michael R. Fukushima • DRE #01380445 • Brokerage DRE #00752861 • Keller Williams Realty Downey
  2. Listed by Stephen F. Watson • DRE #01187813 • Brokerage DRE #00752861 • Keller Williams Realty Downey

Property Details for 2623 Ellendale Place

Zoning
LAR3
Parcel Number
5055006008
Total Units
20.0
Living Area
17099
Source Living Area
Vendor Enhanced
Area
Mid Los Angeles (C16)
Vacancy Rate
20%
Lot Size Area
21402
LISTING UPDATED: 12/17/2024 03:06 PM

Property Details for 2623 Ellendale Place

StatusActive
MLS #24-458303
Days on Market93
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1931
Lot Size0.49 AC / 21,402 SF
CountyLos Angeles County

Building Information for 2623 Ellendale Place

Stories-Residences-Year Built1931Building Size-Lot Size0.49 AC / 21,402 SF

Property Information for 2623 Ellendale Place

Community / Development
Community / Development
  • Number Of Units: 20
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Owner
  • Number Of Stories: 0
  • Number Of Buildings: 1
  • Type Of Units: Residential
  • Security Features: Gated
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $697,356
  • Net Operating Income: $352,883.00
  • Gross Income: $697,356
  • Cap Rate: 2.10%
  • Gross Rent Multiplier: $25.50
  • Total Annual Expense: 344473
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.4913
  • Lot Size Square Feet: 21402
Parking Details
Parking Details
  • Parking Garage: Gated Underground
  • Total Parking: 12
  • Covered Parking: 12
Interior Features
Interior Features
  • Levels: Two
  • Cooling: None
  • Cooling Type: None
  • Heating: None
  • Heating Type: None
  • Equipment: Dishwasher, Range/Oven, Refrigerator
  • Laundry: Room
Exterior Features
Exterior Features
  • Pool: Yes
  • Pool Description: Fenced
  • Pool Features: Fenced
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 10-30-2024
  • Rent Control: Yes
  • Rent Control: 100
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $3,813.00
  • Unit Actual Rent: $30,504.00
  • Unit Projected Rent: $32,000.00
  • Like Units: 8
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,275.00
  • Unit Actual Rent: $27,300.00
  • Unit Projected Rent: $31,800.00
  • Like Units: 12
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $1,433,855.00
  • Assessed Improvement Percent: 57.87
  • Assessed Land Value: $1,044,065.00
  • Assessed Land Percent: 42.13
  • Assessed Total Value: $2,477,920.00

Property History for 2623 Ellendale Place

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 2623 Ellendale Place

Taxable ValueLand$1,064,946Additions$1,467,052Total$2,531,998
Tax Record2024$32,881 ($2,740 / month)
Home Facts
Total Finished SqFt17,099 SqFtAbove Grade Finished SqFt17,099 SqFtLot Size21,396 SqFtStyleMulti-Family Res (5+ Units)ZoningLAR3CountyLOS ANGELESAPN5055-006-008

Schools near 2623 Ellendale Place

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Charter - 6 to 12
Rating
School
Distance
Vermont Avenue Elementary School
PublicK to 5

John Adams Middle School
Public6 to 8

Manual Arts Senior 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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2623 Ellendale Place is a multi-family home for sale in Los Angeles, CA 90007. This property was listed for sale on October 30, 2024 by Keller Williams Realty Downey, it's currently listed at $17,950,000. This listing's school district is Los Angeles Unified School District. Nearby schools include Vermont Avenue Elementary School, John Adams Middle School and Manual Arts Senior High School. 2623 Ellendale Place is a 28-bed, 28-bath, 17,099 sqft multi-family home built in 1931.

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 Keller Williams Realty Downey, Michael R. Fukushima, DRE #01380445; Keller Williams Realty Downey, Stephen F. Watson, DRE #01187813

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.