NOT LISTED FOR SALE

Estimated Value: $2,676,484 - $2,723,000

8 Beds
8 Baths
5,638 Sq Ft
$479/Sq Ft Est. Value

Last Sold December 30, 2021

Last sale price $2,375,000 $421 Per Sq Ft

Est. 14% increase in value since last sale

Current estimated payment $17,250/month

32 Days on Market

Highlights

  • Lake Front
  • Wood Flooring
  • Front Porch
  • Craftsman Architecture
  • Balcony
  • Bathtub with Shower

About This Home

As of December 2021

The Echo Park Avenue Apartments is a very special and unique property configured as a 4-unit building and a 2-unit building for a total of 6 units. The four unit was constructed in 1922, the two-unit in 1916. There are four small garages with access on Echo Park Avenue. Each unit has washer/dryer hookups, front and rear entrance, hardwood floors and intricate details. The Echo Park Avenue Fourplex enjoys twin extended front porch areas with Echo Park Lake views and the rear area is also available for gatherings and BBQ's. The Laguna Duplex enjoys a very spacious outdoor area that is separate and distinct from the Fourplex portion. This area is separated by new fencing and cemented planter boxes on the Echo Park Ave side. The parcel is zoned LARD2-1VL-HPOZ. The HPOZ (Historical Preservation Overlay Zone) extends several blocks to the north and east. This provides protection from over development and of out of character additions to the neighborhood thus preserving the original aspects of the area. Tenants are drawn to the old world charm and pleasant nature and livability of the property. The 1+1 apartments in the Echo Park Avenue Fourplex are very large, (over 1,000 square feet each) and all units have a separate laundry room and period tile in kitchens and baths with original hardwood floors and picture molding throughout. There are too many intricacies to describe in this small space, but one of many examples is the upper duplex unit (1047 Laguna) boasts a sunroom off the second bedroom with lake views. These rentals are much closer to a home than an apartment. The complex is presented as a parcel that runs block to block between Echo Park Avenue and Laguna Avenue. The Fourplex that faces Echo Park Avenue are all 1-bedroom 1-bath. The Duplex that faces Laguna Avenue are 2-bedroom 1-bath & 2-bedroom 1 1/4 bath. Resting just south of Sunset Blvd and north of the U.S. 101 on Echo Park Avenue. Centrally located just north west of DTLA and east of Silverlake and Hollywood. Echo Park Lake is located just south and across the street from the subject property. Upper units of the fourplex & the duplex have lake views. The Echo Park area is ground zero for hipsters, tech workers, artists, independent thinkers and free spirits. The area is alive with a vibe that is palpable and is attractive to both young and old alike. Please do not walk on property or disturb the tenants.

Last Agent to Sell the Property

Jim Gilb

James F. Gilb License #00998653 Listed on: 08/30/2021

James F. Gilb

Last Buyer's Agent

Robert Villanueva

Estate Properties License #00951137

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $30,818

Year Built

  • Built in 1916

Lot Details

  • 7,512 Sq Ft Lot
  • Lot Dimensions are 50x150
  • Lake Front
  • West Facing Home
  • Fenced

Parking

  • 4 Car Garage

Home Design

  • Craftsman Architecture
  • Shingle Roof
  • Composition Roof
  • Wood Siding
  • Stucco

Interior Spaces

  • 5,638 Sq Ft Home
  • 2-Story Property
  • Wood Flooring
  • Lake Views

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 8 Bathrooms
  • Bathtub with Shower

Laundry

  • Laundry Room
  • Stacked Washer and Dryer Hookup

Outdoor Features

  • Balcony
  • Open Patio
  • Front Porch

Utilities

  • Cooling System Mounted In Outer Wall Opening
  • Heating System Mounted To A Wall or Window
  • Property is located within a water district
  • Gas Water Heater
  • Sewer in Street

Listing and Financial Details

  • Tenant pays for gas, electricity
  • The owner pays for gardener, water
  • Assessor Parcel Number 5404-019-003

Community Details

Overview

  • 2 Buildings
  • 6 Units

Building Details

  • Rent Control

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$30,818

Year Built

Built in 1916

Lot Details

0

Parking

4

Listing Details

  • Property Type: Residential Income
  • Style: Craftsman
  • Street Number Display: Yes
  • Additional Assessor Parcel Numbers: No
  • Alley: No
  • Living Area: 5638
  • Lot Acreage: 0.1725
  • Lot Dimensions: 50x150
  • Probate: No
  • Stories: 2
  • Year Built: 1916
  • Number Of Photos: 34
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Interior Amenities: Living Room Balcony
  • Number Dishwasher: 0
  • Number Disposal: 0
  • Flooring: Wood
  • Appliances: Gas
  • Bedrooms: 8
  • Bathroom Features: Shower Over Tub
  • Laundry: Laundry Area
  • Total Bathrooms: 8.00
  • Equipment: Stackable W/D Hookup, Gas Dryer Hookup
  • Price Per S Q F T: 442.53

Exterior Features

  • Direction Faces: West
  • Construction: Stucco, Wood Siding
  • Other Features: Balcony
  • Other Structures: None
  • Patio: Porch - Front, Porch - Rear, Patio Open
  • Roof: Composition, Shingle
  • View: Lake
  • View: Yes

Garage/Parking

  • Garage Spaces: 4
  • Covered Parking: 4
  • Garage Structures: 2
  • Parking Garage: Garage
  • Total Parking: 4

Utilities

  • Water District: Department of Water & Power
  • Water Heater: Gas
  • Cooling: Wall Unit(s)
  • Heating: Wall
  • Number Electric Meters: 6
  • Number Gas Meters: 6
  • Sewer: In Street
  • Water: Water District
  • Water Heaters: Yes

Lot Info

  • Assessed Improvement Percent: 40.74
  • Assessed Improvement Value: 357506
  • Assessed Land Percent: 59.26
  • Assessed Land Value: 520015
  • Total Assessed Value: 877521
  • Assessor Parcel Number: 5404-019-003
  • Lot Description: Fenced, Sidewalks, Yard
  • Lot Size Area: 7512

Rental Info

  • Monthly Gross Income: 13437.00
  • Owner Pays: Gardener, Water
  • Rent Control: Yes
  • Tenant Pays: Gas, Electricity

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109, 2110, 2111
  • Gross Rent Multiplier: 15.47
  • Number Of Units: 6
  • Rent Control: 100
  • Total Annual Expense: 55832
  • Type Of Units: Apartments
  • Vacancy Rate: 3

Tax Info

  • Mello Roos: Unknown

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Aug 30, 2021
Closed on
Dec 14, 2021
Sold by
Musat Ruth Mackey and The Musat Survivor S Trust
Bought by
Kobrin Sandra and The Sandra Kobrin Sp Trust
Seller's Agent
Jim Gilb
James F. Gilb
Buyer's Agent
Robert Villanueva
Estate Properties
List Price
$2,695,000
Sold Price
$2,375,000
Premium/Discount to List
-$320,000
-11.87%
Current Estimated Value
$2,699,742

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$324,742
Avg. Annual Appreciation
3.75%
Original Mortgage
$1,380,000
Outstanding Balance
$1,274,439
Interest Rate
3.11%
Mortgage Type
Commercial
Estimated Equity
$1,443,536

Purchase Details

Closed on
Dec 28, 2015
Sold by
Musat Ruth Mackey and The Musat Family Trust
Bought by
Musat Ruth Mackey and The Musat Exemption Trust

Purchase Details

Closed on
Feb 10, 2004
Sold by
Lom Property Corp
Bought by
Musat Peter O and Musat Ruth Mackey

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$375,000
Interest Rate
5.35%
Mortgage Type
Commercial

Purchase Details

Closed on
Jun 1, 2002
Sold by
Liu Hui Jian and Guan Ying
Bought by
Lom Property Corp

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$210,000
Interest Rate
6.7%
Mortgage Type
Commercial

Purchase Details

Closed on
Jul 28, 1998
Sold by
Hui Jian Liu
Bought by
Liu Hui Jian and Guan Ying

Purchase Details

Closed on
Jul 13, 1998
Sold by
Mei Qiong Li
Bought by
Liu Hui Jian

Purchase Details

Closed on
Mar 2, 1998
Sold by
Liu Mei Qiong Li and Liu Hui Jian
Bought by
Li Mei Qiong and Liu Hui Jian

Purchase Details

Closed on
Sep 12, 1994
Sold by
Li Mei Qiong and Liu Hui Jian
Bought by
Li Mei Qiong and Liu Hui Jian

Purchase Details

Closed on
May 5, 1994
Sold by
Li Mei Qiong
Bought by
Li Mei Qiong and Liu Hui Jian
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
Kobrin Sandra $2,375,000 North American Title Company
Musat Ruth Mackey -- None Available
Musat Peter O $675,000 First American Title Co
Lom Property Corp $300,000 Stewart Title
Liu Hui Jian -- --
Liu Hui Jian -- --
Li Mei Qiong -- --
Li Mei Qiong -- --
Li Mei Qiong -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Kobrin Sandra $1,380,000
Previous Owner Musat Ruth Mackey $600,000
Previous Owner Musat Peter O $375,000
Previous Owner Lom Property Corp $210,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/30/2021 12/30/21 Sold $2,375,000 -4.8% $421 / Sq Ft
10/01/2021 10/01/21 Pending -- -- --
09/20/2021 09/20/21 Price Changed $2,495,000 -7.4% $443 / Sq Ft
08/30/2021 08/30/21 For Sale $2,695,000 -- $478 / Sq Ft
Source: The MLS

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 $30,818 $2,520,368 $1,353,040 $1,167,328
2024 $30,818 $2,470,950 $1,326,510 $1,144,440
2023 $30,229 $2,422,500 $1,300,500 $1,122,000
2022 $11,704 $904,343 $535,910 $368,433
2021 $11,541 $886,611 $525,402 $361,209
2019 $11,217 $860,316 $509,819 $350,497
2018 $11,112 $843,448 $499,823 $343,625
2016 $10,552 $810,698 $480,415 $330,283
2015 $10,409 $798,521 $473,199 $325,322
2014 $10,476 $782,880 $463,930 $318,950
Source: Public Records

Agents Affiliated with this Home

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Map

Source: The MLS

MLS Number: 21-777680

The MLS

APN: 5404-019-003