8931 Ramsgate Avenue

Los Angeles, CA 90045

$1,195,000
Price
4
Beds
2
Baths
1,786 Sq. Ft.
$669 / Sq. Ft.
1,786
Sq. Ft.
$669
per Sq. Ft.

Description

We are pleased to present 8931 Ramsgate Ave, a VACANT duplex located on 7,063 SF of LAR3 Tier 3 TOC zoned land! With the existing duplex (both 2 bed + 1 bath) being 100% vacant, there are numerous exit strategies that include the following: 1) Build 16 units + 4 ADUs utilizing the current RTI plans, 2) Renovate the existing Duplex + build new ADUs, 3) Utilize ED1 to construct 100% affordable housing project, or 4) Multiple duplex style build yield 4-6 large units. Located in the heart of Westchester,...We are pleased to present 8931 Ramsgate Ave, a VACANT duplex located on 7,063 SF of LAR3 Tier 3 TOC zoned land! With the existing duplex (both 2 bed + 1 bath) being 100% vacant, there are numerous exit strategies that include the following: 1) Build 16 units + 4 ADUs utilizing the current RTI plans, 2) Renovate the existing Duplex + build new ADUs, 3) Utilize ED1 to construct 100% affordable housing project, or 4) Multiple duplex style build yield 4-6 large units. Located in the heart of Westchester, tenants will have ease of access to the 405FWY, numerous employment opportunities, Loyola Marymount University, Venice Beach, Santa Monica, El Segundo, and LAX. Ownership has plans in place for a market rate 16-unit + 4 ADU development that can be included in a sale. As a 100% affordable ED1 development, there's potential for up to 36 units with no parking requirements and an affordable stick on grade type construction. As a value-add project, a new owner can perform renovations on the existing units, both 2 bed + 1 bath units, and add additional ADUs by converting the existing rear garage. Buyer shall complete their own due diligence to determine the development potential.
  1. Listed by Casey Lins • DRE #01902650 • Brokerage DRE #01001040 • Kidder Mathews of California, Inc.

Property Details for 8931 Ramsgate Avenue

Zoning
LAR3
Parcel Number
4125012014
Total Units
2.0
Living Area
1786
Source Living Area
Vendor Enhanced
Area
Westchester (C29)
Vacancy Rate
100%
Lot Size Area
7063
LISTING UPDATED: 11/04/2024 09:23 AM

Property Details for 8931 Ramsgate Avenue

StatusActive
MLS #24-395369
Days on Market218
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1950
Lot Size0.16 AC / 7,063 SF
CountyLos Angeles County

Building Information for 8931 Ramsgate Avenue

Stories1Residences-Year Built1950Building Size-Lot Size0.16 AC / 7,063 SF

Property Information for 8931 Ramsgate Avenue

Community / Development
Community / Development
  • Number Of Units: 2
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 1
  • Number Of Buildings: 1
  • Type Of Units: Apartments
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $84,000
  • Net Operating Income: $54,600.00
  • Gross Income: $84,000
  • Gross Rent Multiplier: $16.10
  • Total Annual Expense: 29400
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1621
  • Lot Size Square Feet: 7063
Parking Details
Parking Details
  • Parking Garage: Garage
  • Total Parking: 4
  • Parking Features: Garage
Interior Features
Interior Features
  • Levels: One
  • Cooling Type: Other
  • Heating Type: Other
  • Equipment: Other
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 05-22-2024
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $3,500.00
  • Unit Actual Rent: $3,500.00
  • Unit Projected Rent: $3,500.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $3,500.00
  • Unit Actual Rent: $3,500.00
  • Unit Projected Rent: $3,500.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $321,660.00
  • Assessed Improvement Percent: 30.0
  • Assessed Land Value: $750,540.00
  • Assessed Land Percent: 70
  • Assessed Total Value: $1,072,200.00

Property History for 8931 Ramsgate 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 8931 Ramsgate Avenue

Taxable ValueLand$765,550Additions$328,093Total$1,093,643
Tax Record2024$13,475 ($1,123 / month)
Home Facts
Total Finished SqFt1,786 SqFtAbove Grade Finished SqFt1,786 SqFtLot Size7,061 SqFtStyleDuplexYear Built1950ZoningLAR3CountyLOS ANGELESAPN4125-012-014

Schools near 8931 Ramsgate Avenue

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 - K to 5
Rating
School
Distance
Westport Heights Elementary School
PublicK to 5

Wesm Health/Sports Medicine
Public9 to 12

Open Charter Magnet School
CharterK to 5

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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8931 Ramsgate Avenue is a multi-family home for sale in Los Angeles, CA 90045. This property was listed for sale on May 22, 2024 by Kidder Mathews of California, Inc., it's currently listed at $1,195,000. It has been on the market for a total of 218 days and was last sold on March 20, 2019. This listing's school district is Los Angeles Unified School District. Nearby schools include Westport Heights Elementary School, Orville Wright Engineering And Design Magnet and Wesm Health/Sports Medicine. 8931 Ramsgate Avenue is a 4-bed, 2-bath, 1,786 sqft multi-family home built in 1950.

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 Kidder Mathews of California, Inc., Casey Lins, DRE #01902650

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.