1329 2nd Ave Los Angeles, CA 90019
Arlington Heights NeighborhoodEstimated Value: $1,596,540
8
Beds
6
Baths
5,824
Sq Ft
$274/Sq Ft
Est. Value
About This Home
As of December 20221329 2nd Ave, a 6-unit value add investment opportunity located in Arlington Heights between S Western Ave and Crenshaw Blvd, just off Pico Blvd and north of the Santa Monica Freeway. This property is made up of two structures including a four-plex in the front with 1+1's and a duplex with two singles in the rear structure; additionally, there are four enclosed garages with an additional two parking spaces. An investor can achieve just over 37% rental upside through interior unit renovations as the units are leased at below market rents; once stabilized, the pro forma CAP rate is projected to be 6.34%. There is currently an accessory space at the rear structure of the property that is vacant. There is potential to legalize into a unit for additional income - buyer to verify. Gas and electricity is separately metered; one unit currently has laundry but all units in the fourplex have washer and dryer hookups. Three of the units will be delivered vacant allowing the new owner to preform renovations upon closing. Arlington Heights is a historic area which embodies a huge, diverse community filled with many charms and local surprises. Along with its architectural beauty the friendliness and movement towards a sustainable neighborhood makes this area a very desirable place to live, work, and play. 1329 2nd Ave has a high walk score of 81, proximity to schools, employment, and transit options make this location convenient for residents to shop and commute throughout the city. Additionally nearby destinations such as Koreatown, Hollywood and Downtown LA are within a 15 minute drive.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $19,537
Year Built
- Built in 1906
Lot Details
- 7,500 Sq Ft Lot
- Lot Dimensions are 50x150
Parking
- Covered Parking
Interior Spaces
- 5,824 Sq Ft Home
- 2-Story Property
- Ceiling Fan
- Stacked Washer and Dryer Hookup
Kitchen
- Oven or Range
- Recirculated Exhaust Fan
Bedrooms and Bathrooms
- 8 Bedrooms
- 6 Bathrooms
Utilities
- Cooling System Mounted To A Wall/Window
- Heating System Uses Natural Gas
Community Details
- 2 Buildings
- 6 Units
Listing and Financial Details
- Assessor Parcel Number 5072-036-019
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Sep 15, 2022
Closed on
Nov 15, 2022
Sold by
Sato Blanca
Bought by
Ml Genesee Holdings Llc
Seller's Agent
Neema Ahadian
Marcus & Millichap
Buyer's Agent
Neema Ahadian
Marcus & Millichap
List Price
$1,515,000
Sold Price
$1,500,000
Premium/Discount to List
-$15,000
-0.99%
Total Days on Market
77
Views
8
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$96,540
Avg. Annual Appreciation
2.55%
Original Mortgage
$1,050,000
Outstanding Balance
$1,022,639
Interest Rate
6.95%
Mortgage Type
New Conventional
Estimated Equity
$573,901
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Ml Genesee Holdings Llc | $1,500,000 | Old Republic Title |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Ml Genesee Holdings Llc | $1,050,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 12/07/2022 12/07/22 | Sold | $1,500,000 | -1.0% | $258 / Sq Ft |
| 09/15/2022 09/15/22 | For Sale | $1,515,000 | -- | $260 / Sq Ft |
Source: The MLS
Tax History Compared to Growth
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 |
|---|---|---|---|---|
| 2024 | $19,537 | $1,530,000 | $1,020,000 | $510,000 |
| 2023 | $19,176 | $1,500,000 | $1,000,000 | $500,000 |
| 2022 | $3,941 | $243,917 | $109,007 | $134,910 |
| 2021 | $3,861 | $239,135 | $106,870 | $132,265 |
| 2019 | $3,770 | $232,044 | $103,701 | $128,343 |
| 2018 | $3,600 | $227,495 | $101,668 | $125,827 |
| 2016 | $3,353 | $218,663 | $97,721 | $120,942 |
| 2015 | $3,314 | $215,380 | $96,254 | $119,126 |
| 2014 | $3,365 | $211,162 | $94,369 | $116,793 |
Source: Public Records
Agents Affiliated with this Home
-
Neema Ahadian
N
Seller's Agent in 2022
Neema Ahadian
Marcus & Millichap
(213) 943-1800
1 in this area
86 Total Sales
Map
Source: The MLS
MLS Number: 22-206101
APN: 5072-036-019
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.
© 2025 The MLS™ - Combined L.A. Westside MLS (CLAW). All rights reserved. Based on information from The MLS™ - Combined L.A. Westside MLS (CLAW). 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.
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information is deemed reliable but not guaranteed.
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