NOT LISTED FOR SALE

1325 Masselin Ave Los Angeles, CA 90019

Miracle Mile Neighborhood

Estimated Value: $1,875,000 - $2,081,000

8 Beds
4 Baths
5,056 Sq Ft
$391/Sq Ft Est. Value

Sale Details

Date Sold: February 14, 2020

Last sale price $1,559,000 $308 Per Sq Ft

Est. 30% increase in value since last sale

Current estimated payment $13,495 / mo

10 Days on Market

Highlights

  • No HOA
  • Laundry Room
  • Gentle Sloping Lot

About This Home

As of February 2020

This investment opportunity offers varying features, new windows and screens, re-stucco and fresh exterior paint,new doors, repaired driveway and parking area, cooper piping, newer roof, upgraded wall furnaces,water heaters, and more. Low maintenance expense.
1 unit with numerous updates, including plumbing, updated kitchen. Drive by only, please do not disturb tenants!
Any and all reasonable offers welcome, Owner clearly aware of value in the neighborhood. 1352 Masselin Ave, consists of four 2 BR/1 Bath units with over 1,260 Sq Ft living spaces, The subject property is located in the PicFair area, that has high demand, that easily attracts high income renters. Property is close to Hollywood, Beverly Hills, Downtown L A, LAX, and the beaches. Property to be sold in it's present physical condition, with little or no repairs. No seller's credit available.

Last Agent to Sell the Property

Ricardo Munoz

Excellence RE Real Estate License #00912335 Listed on: 11/16/2019

Last Buyer's Agent

Cesar Leyva

Beverly and Company, Inc. License #01490664

Beverly and Company, Inc.

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1929

Lot Details

  • 5,807 Sq Ft Lot
  • No Common Walls
  • Gentle Sloping Lot

Home Design

  • 5,056 Sq Ft Home

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 4 Bathrooms

Laundry

  • Laundry Room
  • Laundry in Kitchen
  • Gas Dryer Hookup

Parking

  • 4 Parking Spaces
  • 4 Carport Spaces

Listing and Financial Details

  • Tax Lot 201
  • Tax Tract Number 5674
  • Assessor Parcel Number 5085029028

Community Details

Overview

  • No Home Owners Association
  • 4 Units

Building Details

  • Rent Control
  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $540
  • Insurance Expense $1,404
  • Maintenance Expense $3,600
  • Water Sewer Expense $4,200
  • New Taxes Expense $18,748
  • Operating Expense $28,590
  • Gross Income $83,424
  • Net Operating Income $54,834

Property Details

Home Type

Multi-Family

Year Built

Built in 1929

Lot Details

5,807 Sq Ft Lot

Listing Details

  • CapRate: 4.00
  • Property Attached: No
  • Water Sewer Expenses: 4200.00
  • Zoning: LAR2
  • Property Type: Residential Income
  • Gardener Expense: 540.00
  • Parcel Number: 5085029028
  • Year Built: 1929
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: No Common Walls
  • Price Per Square Foot: 308.35

Exterior Features

  • Pool Private: No

Garage/Parking

  • Carport Spaces: 4.00
  • Total Parking Spaces: 4.00

Utilities

  • Laundry: Yes
  • Laundry Features: Gas Dryer Hookup, In Kitchen
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Gentle Sloping
  • Lot Size Sq Ft: 5807.00
  • Lot Size Acres: 0.1333

Multi Family

  • Gross Income: 83424.00
  • Gross Multiplier: 17.80
  • Gross Scheduled Income: 83424.00
  • Insurance Expense: 1404.00
  • Lot Size Area: 5807.0000 Square Feet
  • Maintenance Expense: 3600.00
  • Net Operating Income: 54834.00
  • 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: 28590.00
  • Rent Control: Yes
  • Total Expenses: 28590.00

Tax Info

  • New Taxes Expense: 18748.00
  • Tax Census Tract: 2171.00
  • Tax Lot: 201
  • Tax Tract Number: 5674

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Dec 19, 2023
Sold by
Leal Survivors Trust
Bought by
Rock Christie Ann
Current Estimated Value
$2,025,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$350,000
Outstanding Balance
$343,894
Interest Rate
7.5%
Mortgage Type
Seller Take Back
Estimated Equity
$1,634,106

Purchase Details

Closed on
Dec 22, 2021
Sold by
1325 Masselin Ave Llc
Bought by
Kepner Benjamin Roger and Iverson Elizabeth Anne

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$556,000
Interest Rate
3.25%
Mortgage Type
New Conventional

Purchase Details

Closed on
Nov 27, 2020
Sold by
1325 Masselin Ave Llc
Bought by
Milton India

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$500,000
Interest Rate
2.8%
Mortgage Type
Commercial

Purchase Details

Listed on
Nov 16, 2019
Closed on
Feb 13, 2020
Sold by
Parks Henry S
Bought by
1325 Masselin Ave Llc
Seller's Agent
Ricardo Munoz
Excellence RE Real Estate
Buyer's Agent
Cesar Leyva
Beverly and Company, Inc.
List Price
$1,499,900
Sold Price
$1,559,000
Premium/Discount to List
$59,100
3.94%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
3.95%
Original Mortgage
$1,527,584
Interest Rate
3.72%
Mortgage Type
Commercial

Purchase Details

Closed on
Sep 17, 2003
Sold by
Parks Henry S
Bought by
Parks Henry S

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$330,000
Interest Rate
7.99%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Aug 21, 1998
Sold by
Parks Sandee
Bought by
Parks Henry S

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$281,250
Interest Rate
6.93%
Mortgage Type
Purchase Money Mortgage
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
Rock Christie Ann $650,000 Priority Title Company
Kepner Benjamin Roger $695,000 First American Title Company O
Milton India $649,000 First American Title Company
1325 Masselin Ave Llc $1,559,000 Pacific Coast Title Company
Parks Henry S -- Investors Title Company
Parks Henry S -- United Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Rock Christie Ann $350,000
Previous Owner Kepner Benjamin Roger $556,000
Previous Owner Milton India $500,000
Previous Owner 1325 Masselin Ave Llc $1,527,584
Previous Owner Parks Henry S $330,000
Previous Owner Parks Henry S $281,250
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
02/14/2020 02/14/20 Sold $1,559,000 +3.9% $308 / Sq Ft
11/26/2019 11/26/19 Pending -- -- --
11/16/2019 11/16/19 For Sale $1,499,900 -- $297 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

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 $31,062 $2,584,718 $1,555,047 $1,029,671
2024 $31,062 $2,534,038 $1,524,556 $1,009,482
2023 $29,764 $2,426,079 $1,463,184 $962,895
2022 $25,100 $2,096,836 $1,437,015 $659,821
2021 $19,233 $1,583,863 $1,032,770 $551,093
2020 $1,813 $99,920 $48,839 $51,081
2019 $1,740 $97,962 $47,882 $50,080
2018 $1,624 $96,043 $46,944 $49,099
2016 $1,500 $92,316 $45,122 $47,194
2015 $1,483 $90,931 $44,445 $46,486
2014 $1,511 $89,151 $43,575 $45,576
Source: Public Records

Agents Affiliated with this Home

  • R

    Seller's Agent in 2020

    Ricardo Munoz

    Excellence RE Real Estate

    (562) 569-1371

    25 Total Sales

    Ricardo Munoz
    Section Image
  • Cesar Leyva

    Buyer's Agent in 2020

    Cesar Leyva

    Beverly and Company, Inc.

    (424) 202-4243

    7 in this area

    41 Total Sales

    Cesar Leyva
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: DW19264134

California Regional Multiple Listing Service (CRMLS)

APN: 5085-029-028

California Los Angeles County Los Angeles 90019 Miracle Mile

1325 Masselin Ave, Los Angeles, CA

Not Listed for Sale

MultiFamily

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