REAL BROKER LLC is Proud to present A CASH COW OPPORTUNITY SALE OF 4 TURN-KEY PROPERTY WITH RTI READY TO GO ADU PLANS FOR 2 BED 2 BATH PLUS 1 BED 1 BATH REAR DETACHED BUILDING ADUs. SELLER HAS 2 ESTIMATE COST OF CONSTRUCTION AT $160 PER SQ FEET. FRONT FOUR-UNITS ARE FULLY RENOVATED/TURN KEY APARTMENT COMMUNITY LOCATED 2951 Francis Avenue. SPRAWLING RESTRANTS NEARBY AND SUPERMARKET, FLOWER SHOP, BUS STOPS, FEW BLOCKS FROM STARBUCKS AND METRO STATION. The subject property is located just south of 8th Street within the desirable Koreatown sub-market. Situated on a 6,751 square foot parcel, the property is comprised entirely of three-bedroom units. New ownership has the ability to add two accessory dwelling units (ADU's) TOTALLING 1,650 SF., for a two-bedroom and one-bedroom unit. ADU Permits are "RTI" Status. Current Ownership has extensively renovated all units with stainless-steel kitchen appliances, new flooring, in unit washer/dryers, AC systems in each bedroom & more. ALL ROOMS ARE LARGE SIZES. The continued gentrification of the surrounding area along with the rare opportunity to acquire a fully rehabbed, luxury apartment community with a healthy income stream makes 2951 Francis Avenue an excellent acquisition opportunity FOR THOSE WHO ARE LOOKING TO DO 1031 EXCHANGE OR A NEW PURCHASE TO MAKE YOUR $$$ GO FARTHER, CREATING GENERATIONAL WEALTH.
This property is $1.6M more than the Median Sold Price and $146/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: #24376665
Listing Office:
Office Name: Real Broker
Office Phone: (619) 663-8680
Listing Agent: Max Lee
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: 4/30/2024, 5:20:18 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
Jun 01, 2015
Jun 01, 2015Home Sold
$1,010,000
Dec 19, 2003
Dec 19, 2003Home Sold
$599,000
Jul 23, 2002
Jul 23, 2002Home Sold
$465,000
Oct 03, 2001
Oct 03, 2001Home Sold
$330,000
Tax History
YEAR
PROP. TAX
ASSESSMENT
2021
$12,421
$997,003
2020
$12,059
$986,781
2019
$11,888
$967,433
2018
$14,384
$948,464
2017
$14,384
$1,160,000
History based on county public records data.
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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
Rfk Community Schools - Ambassador School - Global
3201 W 8th St
Distance between this listing and this school0.40 miles
Public District Grades KG-5
8
/10
Melrose Avenue Elementary School
731 N Detroit St
Distance between this listing and this school3.66 miles
Public Magnet Grades KG-6
9
/10
Academy For Enriched Sciences
6170 Lockhurst Dr
Distance between this listing and this school22.16 miles
Public Magnet Grades 1-5
Middle School
4
/10
Young Oak Kim Academy
615 Shatto Pl
Distance between this listing and this school0.42 miles
Public District Grades 6-8
4
/10
Studio
2211 W Avenue 30
Distance between this listing and this school4.51 miles
Public District Grades 6-8
High School
4
/10
Rfk Community Schools-New Open World Academy K-12
3201 W 8th St
Distance between this listing and this school0.40 miles
Public District Grades KG-12
4
/10
Rfk Community Schools-Los Angeles High School of T
701 S Catalina St
Distance between this listing and this school0.41 miles
Public District Grades 9-12
2
/10
Rfk Community Schools-Ambassador-Global Leadership
701 S Catalina St
Distance between this listing and this school0.41 miles
Public District Grades 6-12
Assigned Schools
4
/10
Rfk Community Schools - Ambassador School - Global
3201 W 8th St
Distance between this listing and this school0.40 miles
Public District Grades KG-5
8
/10
Melrose Avenue Elementary School
731 N Detroit St
Distance between this listing and this school3.66 miles
Public Magnet Grades KG-6
9
/10
Academy For Enriched Sciences
6170 Lockhurst Dr
Distance between this listing and this school22.16 miles
Public Magnet Grades 1-5
Assigned Schools
4
/10
Young Oak Kim Academy
615 Shatto Pl
Distance between this listing and this school0.42 miles
Public District Grades 6-8
4
/10
Studio
2211 W Avenue 30
Distance between this listing and this school4.51 miles
Public District Grades 6-8
Nearby Schools
6
/10
Rise Kohyang Middle School
631 S Commonwealth Ave
Distance between this listing and this school0.45 miles
Public Charter Grades 6-8
Assigned Schools
4
/10
Rfk Community Schools-New Open World Academy K-12
3201 W 8th St
Distance between this listing and this school0.40 miles
Public District Grades KG-12
4
/10
Rfk Community Schools-Los Angeles High School of T
701 S Catalina St
Distance between this listing and this school0.41 miles
Public District Grades 9-12
2
/10
Rfk Community Schools-Ambassador-Global Leadership
701 S Catalina St
Distance between this listing and this school0.41 miles
The neighbors living near this home have an average income of $27,429. Residents of Los Angeles, CA typically earn less than $35k each year. Residents typically live in single, no kids family. The most common level of education of people living in this area is high school diploma.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 2951 Francis Ave
What is the listing price of this property?
The listing price of 2951 Francis Ave property is $2,650,000.
What type of property is this?
The property 2951 Francis Ave is a house located in Los Angeles, California, 90005.
Is this property for sale now?
Active Listing: 2951 Francis Ave is For Sale (Active/New) which means the seller is accepting offers.
What are the assigned schools for this property?
The assigned schools for 2951 Francis Ave are: Rfk Community Schools - Ambassador School - Global: GreatSchools Rating 4/10Melrose Avenue Elementary School: GreatSchools Rating 8/10Academy For Enriched Sciences: GreatSchools Rating 9/10Young Oak Kim Academy: GreatSchools Rating 4/10Studio: GreatSchools Rating 4/10Rfk Community Schools-New Open World Academy K-12: GreatSchools Rating 4/10Rfk Community Schools-Los Angeles High School of T: GreatSchools Rating 4/10Rfk Community Schools-Ambassador-Global Leadership: GreatSchools Rating 2/10
What is the annual property tax for this property?
According to the records, the last property tax for 2021 is $12,421 (source: MLS/based on county public records data).
When was this property sold last time and for how much?
The last sale was on June 1, 2015 for $1,010,000. (source: MLS/tax record).
How many bedrooms and bathrooms does this property have?
The property at 2951 Francis Ave has 12 bedrooms and 8 bathrooms.
What is the square footage of this property?
The property 2951 Francis Ave is 5,502 SqFt (source: MLS/tax record).
Which year was this property built?
The year of construction for 2951 Francis Ave is 1921.
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This home is located at 2951 Francis Ave in Los Angeles, CA and zip code 90005 in the Central LA neighborhood. This 5,502 square foot home, which was built in 1921, sits on a 0.15 acre lot. Features: 12 bedrooms, 8 bathrooms. It has been listed on Rocket Homes since April 05, 2024 and is currently priced at $2,650,000.
In March 2024 more than 628 listings in Los Angeles, CA were sold above the asking price. During the same period more than 196 listings were sold at asking price, while more than 579 were sold below. In March 2024 in Los Angeles, CA there were 10.8% more homes for sale than in February 2024. In March 2024, listings were on the market for 34 days. During the same period, the median list price in this real estate market was $975,970.
From Rocket Homes Real Estate and based on county public records data.
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. 
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