StatusAccepting Backup Offers (Active Under Contract)
About 2755 Raymond Ave
We are pleased to offer the opportunity to acquire this value-add three (3) unit Student Housing/Multi-Family investment on 2755 Raymond Ave, located in the DPS patrol zone, and close proximity to the University of Southern California (USC). The investment consists of one (1) large apartment building on an oversized corner 10,602 sqft lot. The property features a unit mix of one (1) 3 bedroom + 1 bathroom unit, as well as two (2) 2 bedroom + 1 bathroom units. Additionally, one of the 2 bedroom units is vacant, affording any buyer the ability to renovate the unit and select their own tenant. The investment also allows the opportunity to further increase cash flow by adding multiple Accessory Dwelling units (ADU's- Buyer to Verify) in the rear of the structure. This property boasts remarkable redevelopment potential across its expansive 10,602 sqft lot. Benefiting from LARD2 zoning ordinance and an additional TOC Tier 1 density bonus, the site presents a unique opportunity to develop. The generous lot size not only provides ample space but also positions this opportunity to leverage city incentives, potentially facilitating the construction of affordable housing, a vision aligned with community needs. Notably, while situated in a historical zone, the property has been deemed a non-contributor, offering flexibility for future endeavors. (*Buyer to verify all details pertaining to zoning and development potential). Given the location, attractive local area amenities, and opportunity to drastically increase rental income via development as well as tenant turnover, this investment presents an excellent opportunity for an investor to acquire a desirable apartment building in the attractive USC submarket with strong value add upside.
Property Details
Property Features
Property Information:
Year Built: 1906
Stories: 2
Living Area: 3,821 SqFt
Listing Office:
Office Name: Keller Williams Beverly Hills
Office Phone: (310) 432-6400
Listing Agent: Adam Shamooelian
Interior Features
Bedroom and Bathroom Information:
Total Bedroom Count: 7
Lot Features
Lot Information:
Lot Size: 0.24 Acres
School Info
Assigned Schools Information:
Foshay Learning Center, Public District Grades KG-12
Manual Arts Senior High School, Public Magnet Grades 9-12
Math, Science, & Technology Magnet Academy at Roosevelt High School, Public Magnet Grades 9-12
Studio, Public District Grades 6-8
Vermont Avenue Elementary School, Public District Grades KG-5
Melrose Avenue Elementary School, Public Magnet Grades KG-6
Point Fermin Elementary School, Public Magnet Grades KG-5
Other
Directions Information:
Directions: 2755 Raymond Ave, 90007
Price Information
Listing Price Info
Price Summary:
List Price: $950,000
Price Per SqFt: $249/SqFt
Tax Information:
Annual Amount: $2,087
Tax Year: 2021
What can I afford?
Understand what home price range makes sense for your budget.
Housing Market Comparison
See how this home compares to others in Los Angeles, CA.
This property is $25.9K less than the Median Sold Price and $379/SqFt less than other homes in Los Angeles, CA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: CRMLS
MLS Number: #24363169
Listing Office:
Office Name: Keller Williams Beverly Hills
Office Phone: (310) 432-6400
Listing Agent: Adam Shamooelian
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last updated on: 4/28/2024, 7:25:18 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
Listing History
DATE
EVENT
PRICE
Sep 08, 1997
Sep 08, 1997Home Sold
$165,000
Tax History
YEAR
PROP. TAX
ASSESSMENT
2021
$2,087
$119,576
2020
$2,039
$118,351
2019
$1,874
$116,031
2018
$1,845
$113,757
2017
$1,845
$111,528
History based on county public records data.
Payment Calculator
Calculate your estimated monthly expenses for this listing. Play with the values below to better understand your monthly payment and utilities.
$4,809
Per Month
Principal & Interest
$4,742
Home PriceThe dollar amount you pay for the home.
$
Interest RateMortgage interest rates fluctuate, but they're typically in the 5% to 9% range. Your rate will be calculated based on personal details including your credit score.
%
Down PaymentThe initial money paid at closing that is usually a percentage of the purchase price. Most loans require at least 3% down, but a 0% down payment may be possible if you're eligible for a VA or USDA loan.
$%
Loan TermThis is how long you'll pay on the loan. A longer term gives you smaller payments, while a shorter term saves you money on interest.
Property Taxes
$0
Property Taxes -Annual CostEvery homeowner pays taxes to their local government based on their home's value and the property tax rates for the county or city. Most areas charge property taxes semiannually.
$/ Year
Mortgage Insurance
$0
Mortgage Insurance -Monthly PremiumMortgage insurance helps secure a mortgage with a lower down payment. It typically costs 0.1% - 2% of your loan amount per year.
$/ Month
Homeowners Insurance
$67
Homeowners Insurance -Monthly PremiumMost homeowners pay about $1,000 a year for homeowners insurance, but the cost varies based on your location, home and coverage.
$/ Month
Homeowners Association (HOA)
$0
Homeowners Association -Monthly FeesHomeowners Association (HOA) fees can range from $30 per month to $500+ per month. Be sure to ask your agent about HOA fees on a home as it can impact your affordability or check the online home listing.
$/ Month
Utilities
$0
Utilities - Monthly CostYou'll need to budget for utilities as a homeowner, which typically includes water and sewer, gas and electric, internet and cable. Cost will depend on your location and the size of your home. On a monthly basis, Americans pay $239 - $442 per month.
$/ Month
Recommended Financing
30-Year Fixed
Rate/APR
7.5% / 6.68%
Total Monthly Payment
$2,915
Powered By
Advertisement
NMLS#3030
Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
Elementary School
4
/10
Vermont Avenue Elementary School
1435 W 27th St
Distance between this listing and this school0.26 miles
Public District Grades KG-5
8
/10
Melrose Avenue Elementary School
731 N Detroit St
Distance between this listing and this school4.66 miles
Public Magnet Grades KG-6
6
/10
Point Fermin Elementary School
3333 S Kerckhoff Ave
Distance between this listing and this school21.78 miles
Public Magnet Grades KG-5
Middle School
4
/10
Studio
2211 W Avenue 30
Distance between this listing and this school6.29 miles
Public District Grades 6-8
High School
5
/10
Foshay Learning Center
3751 S Harvard Blvd
Distance between this listing and this school0.84 miles
Public District Grades KG-12
2
/10
Manual Arts Senior High School
4131 S Vermont Ave
Distance between this listing and this school1.45 miles
Public Magnet Grades 9-12
8
/10
Math, Science, & Technology Magnet Academy at Roosevelt High School
456 S Mathews St
Distance between this listing and this school4.98 miles
Public Magnet Grades 9-12
Assigned Schools
4
/10
Vermont Avenue Elementary School
1435 W 27th St
Distance between this listing and this school0.26 miles
Public District Grades KG-5
8
/10
Melrose Avenue Elementary School
731 N Detroit St
Distance between this listing and this school4.66 miles
Public Magnet Grades KG-6
6
/10
Point Fermin Elementary School
3333 S Kerckhoff Ave
Distance between this listing and this school21.78 miles
Public Magnet Grades KG-5
Assigned Schools
4
/10
Studio
2211 W Avenue 30
Distance between this listing and this school6.29 miles
Public District Grades 6-8
Nearby Schools
5
/10
Mid-City's Prescott School of Enriched Sciences
3150 W Adams Blvd
Distance between this listing and this school1.16 miles
Public Magnet Grades KG-8
4
/10
Downtown Value
950 W Washington Blvd
Distance between this listing and this school1.22 miles
Public Charter Grades KG-8
Assigned Schools
5
/10
Foshay Learning Center
3751 S Harvard Blvd
Distance between this listing and this school0.84 miles
Public District Grades KG-12
2
/10
Manual Arts Senior High School
4131 S Vermont Ave
Distance between this listing and this school1.45 miles
Public Magnet Grades 9-12
8
/10
Math, Science, & Technology Magnet Academy at Roosevelt High School
456 S Mathews St
Distance between this listing and this school4.98 miles
The neighbors living near this home have an average income of $40,423. The majority of Los Angeles, CA residents have income less than $35k annually. The majority of families are single, no kids. Most residents in this area have high school diploma education.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 2755 Raymond Ave
What is the listing price of this property?
The listing price of 2755 Raymond Ave property is $950,000.
What type of property is this?
The property 2755 Raymond Ave is a house located in Los Angeles, California, 90007.
Is this property for sale now?
Accepting Backup Offers: 2755 Raymond Ave is Accepting Backup Offers (Active Under Contract), there is still a chance to have your real estate agent submit an offer.
What are the assigned schools for this property?
The assigned schools for 2755 Raymond Ave are: Vermont Avenue Elementary School: GreatSchools Rating 4/10Melrose Avenue Elementary School: GreatSchools Rating 8/10Point Fermin Elementary School: GreatSchools Rating 6/10Studio: GreatSchools Rating 4/10Foshay Learning Center: GreatSchools Rating 5/10Manual Arts Senior High School: GreatSchools Rating 2/10Math, Science, & Technology Magnet Academy at Roosevelt High School: GreatSchools Rating 8/10
What is the annual property tax for this property?
According to the records, the last property tax for 2021 is $2,087 (source: MLS/based on county public records data).
When was this property sold last time and for how much?
The last sale was on September 8, 1997 for $165,000. (source: MLS/tax record).
How many bedrooms and bathrooms does this property have?
The property at 2755 Raymond Ave has 7 bedrooms and 3 bathrooms.
What is the square footage of this property?
The property 2755 Raymond Ave is 3,821 SqFt (source: MLS/tax record).
Which year was this property built?
The year of construction for 2755 Raymond Ave is 1906.
This home is located at 2755 Raymond Ave in Los Angeles, CA and zip code 90007 in the South LA neighborhood. This 3,821 square foot home, which was built in 1906, sits on a 0.24 acre lot. Features: 7 bedrooms, 3 bathrooms. It has been listed on Rocket Homes since February 28, 2024 and is currently priced at $950,000.
Los Angeles, CA housing market in March 2024 saw over 628 listings sold above listed price, more than 196 sold at listed price and over 579 sold below. In March 2024 in Los Angeles, CA there were 10.8% more homes for sale than in February 2024. Listings spent 34 days on the market in March 2024, and had a median list price of $975,970 during the same period.
From Rocket Homes Real Estate and based on county public records data.