NOT LISTED FOR SALE

Estimated Value: $2,153,299 - $2,441,000

4 Beds
2 Baths
2,590 Sq Ft
$886/Sq Ft Est. Value

Last Sold July 16, 2024

Last sale price $2,250,000 $869 Per Sq Ft

Current estimated payment $12,269/month

12 Days on Market

Highlights

  • Guest House
  • Art Studio
  • Craftsman Architecture
  • John Marshall Senior High Rated A
  • City View
  • Living Room with Fireplace

About This Home

As of July 2024

A Soulful Silver Lake Compound. Perched atop the celebrated Edgecliffe Drive sits an imagination defying property comprised of a meticulously restored 1920s Craftsman, a 1960s Mod guest house, and a tucked away studio where anything you've ever imagined can be created. Established as a legal duplex in 1963, creating endless possibilities. The main house is filled with golden light most times of the day and has 3 bedrooms, 1 bath, a huge eat-in kitchen with custom banquette, and formal dining room that opens through glass-paned French doors to an expansive deck that runs along the southern side of the home. Original hard wood floors, hand-coped plaster ceilings, custom tile fireplace, local artist designed stained glass and light fixtures painstakingly refinished over decades are only a few of the special features. The fully rebuilt front porch, which spans the entire width of the home, is the ideal place to catch the ocean breeze that kicks-in every afternoon. From here you can watch technicolor sunsets or simply marvel at the view, which includes both the Hollywood sign and the Griffith Park Observatory. Venturing deeper into the property you will discover a 1 bedroom, fully permitted 900 square foot guest house with a vibey 1960s fireplace and massive sliding doors that lead to a tucked away patio and a fully operational built-in grill and smoker. When you finally reach the studio space with its vaulted ceiling to allow for maximum light, you'll start to believe in unicorns. And then there is the neighborhood. This coveted section of Sunset Boulevard is home to an awe-inspiring number of boutiques, coffee shops, restaurants and bars not to mention the bi-weekly Silver Lake Farmer's Market which is, quite literally, at the base of the hill. All major systems have been replaced/upgraded including foundation, AC, sewer, roof, electrical and plumbing. In 2018 the original garage was demolished and a larger 2-car garage was built to today's standards along with new concrete steps. REST Floor plan measurements show main house as 3 bed/1bath with 1,482 sq ft, Guest House/2nd Unit at 1 bed/1 bath with 942 sq ft and back studio at 182 sq ft. Back-up Offers being reviewed.

Last Agent to Sell the Property

Elizabeth Daly

Sotheby's International Realty License #02012985 Listed on: 06/13/2024

Sotheby's International Realty

Last Buyer's Agent

Patrick Petersen

The Associates Realty Group License #02002308

Home Details

Home Type

  • Single Family

Year Built

  • Built in 1923 | Remodeled

Lot Details

  • 7,363 Sq Ft Lot
  • North Facing Home
  • Property is zoned LAR2

Parking

  • 2 Car Garage

Property Views

  • City
  • Mountain
  • Hills

Home Design

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

Interior Spaces

  • 2,590 Sq Ft Home
  • 1-Story Property
  • Built-In Features
  • Crown Molding
  • Living Room with Fireplace
  • 3 Fireplaces
  • Formal Dining Room
  • Home Office
  • Art Studio
  • Craft Room
  • Attic Fan

Kitchen

  • Breakfast Area or Nook
  • Gas Oven
  • Range Hood
  • Dishwasher
  • Tile Countertops

Flooring

  • Wood
  • Linoleum
  • Laminate
  • Tile

Bedrooms and Bathrooms

  • 4 Bedrooms
  • Walk-In Closet
  • Sunken Shower or Bathtub
  • 2 Full Bathrooms
  • Bathtub with Shower
  • Shower Only

Laundry

  • Laundry Room
  • Dryer
  • Washer

Utilities

  • Zoned Heating and Cooling
  • Property is located within a water district
  • Tankless Water Heater

Additional Features

  • Open Patio
  • Guest House

Community Details

  • No Home Owners Association

Listing and Financial Details

  • Assessor Parcel Number 5427-023-018

Home Details

Home Type

Single Family

Year Built

Built in 1923 | Remodeled

Lot Details

7,363 Sq Ft Lot

Listing Details

  • Property Type: Residential
  • Property Sub Type: Single Family Residence
  • Style: Craftsman
  • Levels: One
  • Street Number Display: Yes
  • Advertising Remarks: A Soulful Silver Lake Compound. House was legally reclassified as a duplex in 1963 but currently lives as a private property. The main house is filled with golden light most times of the day and has 3 bedrooms, 1 bath, a huge eat-in kitchen with custom banquette, and formal dining room that opens through glass-paned French doors to an expansive deck. Hard wood floors, hand-coped plaster ceilings, custom tile fireplace, and light fixtures painstakingly refinished over decades are only a few of the special features. Deeper into the property is a 1 bed/1bath, fully permitted 900+ sq ft guest house/2nd unit with a vibey 1960s fireplace and massive sliding doors that lead to a tucked away patio. When you finally reach the studio space with its vaulted ceiling to allow for maximum light, you'll start to believe in unicorns.
  • Entry Location: Living Room
  • Living Area: 2590
  • Lot Acreage: 0.1690
  • Planned Urban Dev: 0
  • Property Condition: Updated/Remodeled
  • Year Built: 1923
  • State Abbrv: CA
  • Special Features: None
  • Stories: 0

Interior Features

  • Interior Amenities: Crown Moldings
  • Fireplace Rooms: Living Room, Patio
  • Flooring: Wood, Wood Laminate, Linoleum, Tile
  • Appliances: Free Standing Gas, Gas, Oven-Gas, Range Hood
  • Bedrooms: 4
  • Fireplaces: 3
  • Full Bathroom: 2
  • Half Bathroom: 0
  • Common Walls: Detached/No Common Walls
  • One Quarter Bathrooms: 0
  • Bathroom Features: Shower Over Tub, Shower Stall, Tile, Sunken Tub
  • Three Quarter Bathrooms: 0
  • Eating Areas: Breakfast Nook, Formal Dining Rm
  • Kitchen Features: Tile Counters, Remodeled
  • Laundry: Room, Inside
  • Total Bathrooms: 2.00
  • Equipment: Attic Fan, Built-Ins, Dishwasher, Hood Fan, Range/Oven, Refrigerator, Washer, Dryer
  • Fireplace: Yes
  • Price Per S Q F T: 790.73

Exterior Features

  • Direction Faces: North
  • Construction: Wood Siding
  • Other Features: Two On A Lot
  • Other Structures: Accessory Bldgs, GuestHouse, Other
  • Tennis Court Y/N: No
  • Pool: No
  • Roof: Composition, Shingle
  • Spa Yn: No
  • View: City, Hills, Mountains
  • View: Yes

Garage/Parking

  • Parking Garage: Garage - 2 Car, Garage Is Detached

Utilities

  • Water Heater: Tankless
  • Cooling: Central, Multi/Zone, Attic Fan
  • Heating: Central
  • Water: District

Condo/Co-op/Association

  • HOA: No

Lot Info

  • Assessor Parcel Number: 5427-023-018
  • Lot Size Area: 7363

MLS Schools

  • School District: Los Angeles Unified

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 13, 2024
Closed on
Jul 8, 2024
Sold by
Palmer Mark M and Rinehart Bettie R
Bought by
Petersen Thomas Liam and Petersen Alice
Seller's Agent
Elizabeth Daly
Sotheby's International Realty
Buyer's Agent
Patrick Petersen
The Associates Realty Group
List Price
$2,048,000
Sold Price
$2,250,000
Premium/Discount to List
$202,000
9.86%
Views
26
Current Estimated Value
$2,243,224

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$6,776
Avg. Annual Appreciation
1.19%

Purchase Details

Closed on
Dec 1, 2011
Sold by
Palmer Mark M
Bought by
Palmer Mark M and Rinehart Bettie R

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$324,000
Interest Rate
3.84%
Mortgage Type
New Conventional

Purchase Details

Closed on
Mar 15, 2001
Sold by
Mets Vaerdi and Mets Sally
Bought by
Palmer Mark M

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$240,000
Interest Rate
7.09%

Purchase Details

Closed on
Mar 17, 1994
Sold by
Mets Vaerdi and Mets Sally
Bought by
Mets Vaerdi
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
Petersen Thomas Liam $2,250,000 Equity Title - Los Angeles
Palmer Mark M -- Chicago Title Company
Palmer Mark M $300,000 Equity Title
Mets Vaerdi -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Palmer Mark M $324,000
Previous Owner Palmer Mark M $240,000
Closed Palmer Mark M $45,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
07/16/2024 07/16/24 Sold $2,250,000 +9.9% $869 / Sq Ft
06/25/2024 06/25/24 Pending -- -- --
06/13/2024 06/13/24 For Sale $2,048,000 -- $791 / Sq Ft
Source: The MLS

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 $5,628 $2,250,000 $2,096,600 $153,400
2024 $5,628 $443,170 $184,651 $258,519
2023 $5,522 $434,481 $181,031 $253,450
2022 $5,271 $425,963 $177,482 $248,481
2021 $5,195 $417,611 $174,002 $243,609
2019 $5,042 $405,227 $168,842 $236,385
2018 $4,955 $397,282 $165,532 $231,750
2016 $4,725 $381,856 $159,105 $222,751
2015 $4,657 $376,122 $156,716 $219,406
2014 $4,682 $368,756 $153,647 $215,109
Source: Public Records

Agents Affiliated with this Home

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Map

Source: The MLS

MLS Number: 24-403781

The MLS

APN: 5427-023-018

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