NOT LISTED FOR SALE

1016 W 22nd St Los Angeles, CA 90007

University Park Neighborhood

Estimated Value: $1,045,991 - $1,172,000

7 Beds
4 Baths
2,853 Sq Ft
$393/Sq Ft Est. Value

Last Sold August 19, 2021

Last sale price $915,000 $321 Per Sq Ft

Est. 23% increase in value since last sale

Current estimated payment $7,056/month

31 Days on Market

Highlights

  • Hiking Trails
  • Laundry Room
  • 5-minute walk to Hoover Recreation Center
  • Park

About This Home

As of August 2021

Victorian style value-add 4 Unit asset located in the heart of University
Park at 1016 W. 22nd St., Los Angeles 90007. Excellent opportunity to
own in attractive USC sub-market. Property is currently operating at a
4.06% CAP, with over 25% upside in monthly rental income.
1016 W. 22nd St. is comprised of (3) 2-Bd/1-Ba & (1) 1-Bd/1-Ba units.
These spacious units feature hardwood flooring, high ceilings and in wall
A/C. Additionally, each unit comes with two parking spots, as well as
ample street parking. Laundry room on-site for all tenants. There is still
room to grow the rental income to a 6.22% CAP.
The subject property is located in University Park, an area featuring
plenty of student housing due to its proximity to USC. 1016 W. 22nd St.
The subject property boasts a "Walk Score" of 89- making this a very
walkable neighborhood. 22nd St is also minutes from USC, Lucas
Museum, The Reef, Exposition Park, Banc of California Stadium and
beautiful Downtown Los Angeles. This is an ideal pickup for any investor
or owner/user looking to live in one unit and let the others pay off the
mortgage!

Last Agent to Sell the Property

Cameron Samimi

Lyon Stahl Investment Real Estate, Inc. License #02035763 Listed on: 06/22/2021

Lyon Stahl Investment Real Estate, Inc.

Last Buyer's Agent

Cameron Samimi

Lyon Stahl Investment Real Estate, Inc. License #02035763 Listed on: 06/22/2021

Lyon Stahl Investment Real Estate, Inc.

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $11,930

Year Built

  • Built in 1920

Lot Details

  • 6,213 Sq Ft Lot
  • Two or More Common Walls
  • Density is up to 1 Unit/Acre

Home Design

  • 2,853 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 7 Bedrooms
  • 4 Bathrooms

Additional Features

  • Laundry Room
  • Urban Location

Listing and Financial Details

  • Tax Lot 40
  • Tax Tract Number 1234
  • Assessor Parcel Number 5124006016

Community Details

Overview

  • 4 Units

Recreation

  • Park
  • Hiking Trails

Building Details

  • Rent Control
  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Operating Expense $20,433
  • Gross Income $61,896
  • Net Operating Income $38,368

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$11,930

Year Built

Built in 1920

Lot Details

0

Listing Details

  • CapRate: 4.06
  • Property Attached: Yes
  • Zoning: LARD1.5
  • Property Type: Residential Income
  • Parcel Number: 5124006016
  • Year Built: 1920
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Price Per Square Foot: 320.72

Exterior Features

  • Pool Private: No

Utilities

  • Laundry: Yes
  • Laundry Features: Inside
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Curbs, Hiking, Park, Urban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 6213.00
  • Lot Size Acres: 0.1426

Multi Family

  • Gross Income: 61896.00
  • Gross Multiplier: 15.27
  • Gross Operating Income: 58801.00
  • Gross Scheduled Income: 61896.00
  • Lot Size Area: 6213.0000 Square Feet
  • Net Operating Income: 38368.00
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 4
  • Operating Expense: 20433.00
  • Rent Control: Yes
  • Total Expenses: 20433.00
  • Vacancy Allowance Rate: 5.00

Tax Info

  • Tax Census Tract: 2244.10
  • Tax Lot: 40
  • Tax Tract Number: 1234

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 22, 2021
Closed on
Aug 6, 2021
Sold by
Hernandez Santos E
Bought by
Hernandez Santos Evaristo
Seller's Agent
Cameron Samimi
Lyon Stahl Investment Real Estate, Inc.
Buyer's Agent
Cameron Samimi
Lyon Stahl Investment Real Estate, Inc.
List Price
$945,000
Sold Price
$915,000
Premium/Discount to List
-$30,000
-3.17%
Current Estimated Value
$1,121,248

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$206,248
Avg. Annual Appreciation
4.78%
Original Mortgage
$686,250
Outstanding Balance
$625,359
Interest Rate
2.9%
Mortgage Type
New Conventional
Estimated Equity
$480,240

Purchase Details

Listed on
Jun 22, 2021
Closed on
Jul 15, 2021
Sold by
Quality Housing Llc
Bought by
Hernandez Santos E
Seller's Agent
Cameron Samimi
Lyon Stahl Investment Real Estate, Inc.
Buyer's Agent
Cameron Samimi
Lyon Stahl Investment Real Estate, Inc.
List Price
$945,000
Sold Price
$915,000
Premium/Discount to List
-$30,000
-3.17%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$686,250
Outstanding Balance
$625,359
Interest Rate
2.9%
Mortgage Type
New Conventional
Estimated Equity
$480,240

Purchase Details

Closed on
Jan 29, 2014
Sold by
Okazaki Stanley
Bought by
Quality Housing Llc

Purchase Details

Closed on
Mar 26, 2009
Sold by
Okazaki Stanley
Bought by
Okazaki Stanley and Okazaki Marital Trust

Purchase Details

Closed on
Jan 12, 2000
Sold by
Okazaki Dionisia
Bought by
Okazaki Stanley

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$100,000
Interest Rate
8.75%
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Hernandez Santos Evaristo -- Provident Title Co
Hernandez Santos E $915,000 Provident Title Company
Quality Housing Llc -- Accommodation
Okazaki Stanley -- None Available
Okazaki Stanley -- Benefit Land Title
Okazaki Stanley $125,000 Benefit Land Title Company
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Hernandez Santos E $686,250
Previous Owner Okazaki Stanley $100,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/19/2021 08/19/21 Sold $915,000 -3.2% $321 / Sq Ft
06/22/2021 06/22/21 For Sale $945,000 -- $331 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $11,930 $971,004 $774,681 $196,323
2024 $11,930 $951,966 $759,492 $192,474
2023 $11,707 $933,300 $744,600 $188,700
2022 $11,175 $915,000 $730,000 $185,000
2021 $2,531 $173,992 $167,042 $6,950
2020 $2,549 $172,209 $165,330 $6,879
2019 $2,466 $168,834 $162,089 $6,745
2018 $2,362 $165,524 $158,911 $6,613
2016 $2,236 $159,099 $152,742 $6,357
2015 $2,208 $156,710 $150,448 $6,262
2014 $2,245 $153,641 $147,501 $6,140
Source: Public Records

Agents Affiliated with this Home

  • Cameron Samimi

    Seller's Agent in 2021

    Cameron Samimi

    Lyon Stahl Investment Real Estate, Inc.

    (310) 259-7556

    2 in this area

    188 Total Sales

    Cameron Samimi
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB21135714

California Regional Multiple Listing Service (CRMLS)

APN: 5124-006-016

California Los Angeles County Los Angeles 90007 University Park

1016 W 22nd St, Los Angeles, CA

This home is located at 1016 W 22nd St, Los Angeles, CA 90007 since 22 June 2021 and is currently estimated at $1,121,248, approximately $393 per square foot. This property was built in 1920. 1016 W 22nd St is a home located in Los Angeles County with nearby schools including Norwood Street Elementary School, John Adams Middle School, and West Adams Preparatory High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

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. Properties may or may not be listed by the office/agent presenting the information

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