NOT LISTED FOR SALE

1353 Edgecliffe Dr Unit 1 Los Angeles, CA 90026

Estimated Value: $2,147,000 - $2,669,015

9 Beds
6 Baths
4,351 Sq Ft
$553/Sq Ft Est. Value

Last Sold March 11, 2020

Last sale price $2,100,000 $483 Per Sq Ft

Est. 15% increase in value since last sale

Current estimated payment $14,963/month

218 Days on Market

Highlights

  • No HOA
  • John Marshall Senior High Rated A
  • Laundry Room

About This Home

As of March 2020

Solid price reduction... let's make a deal before year-end on this prime 6 unit Silverlake listing at 1353 Edgecliffe Drive, LA 90026. Featuring a great unit mix with three 2+1 units & three 1+1 units. The current gross income is approx. $10,830/mth; $129,960/yr. At our new reduced $2.2M price, the property is priced at: $366,667/unit; a 16.93 current GRM; a 14.05 market GRM; a 3.83% current CAP; a 5.01% market CAP, and $506/SF. This turnkey Edgecliffe property offers the astute investor solid cash flow from Day 1 with additional rent upside as the existing tenants vacate. Prime Silverlake location just an easy walk to a ton of great Sunset Blvd restaurants/shops/cafes including: Millie's Cafe; Cliff's Edge; Pine & Crane, The Black Cat; Intelligentsia Coffee; El Cid; and Flore Vegan to name a few. Also conveniently located close to Micheltorena Elementary School & Lockwood Avenue Elementary.

Last Agent to Sell the Property

Matt Dunfrund

Lyon Stahl Investment Real Estate, Inc. License #01785161 Listed on: 05/29/2019

Last Buyer's Agent

Matthew Kanner

Keller Williams Realty Los Feliz License #01349203

Keller Williams Realty Los Feliz

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $28,012

Year Built

  • Built in 1959

Lot Details

  • 7,355 Sq Ft Lot
  • 1 Common Wall
  • Density is up to 1 Unit/Acre

Parking

  • 3 Car Garage

Home Design

  • Property Attached

Interior Spaces

  • 4,351 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 9 Bedrooms
  • 6 Bathrooms

Location

  • Urban Location

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 7
  • Tax Tract Number 195902
  • Assessor Parcel Number 5427016012

Community Details

Overview

  • No Home Owners Association
  • 2 Buildings
  • 6 Units

Amenities

  • Laundry Facilities

Building Details

  • 6 Leased Units
  • Rent Control
  • 6 Separate Electric Meters
  • 6 Separate Gas Meters
  • 1 Separate Water Meter
  • Insurance Expense $1,740
  • Maintenance Expense $6,498
  • Water Sewer Expense $4,800
  • New Taxes Expense $27,500
  • Operating Expense $41,738
  • Gross Income $129,960
  • Net Operating Income $84,323

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$28,012

Year Built

Built in 1959

Lot Details

0

Parking

3

Listing Details

  • Property Attached: Yes
  • Water Sewer Expenses: 4800.00
  • Zoning: LAR2
  • Property Type: Residential Income
  • Parcel Number: 5427016012
  • Year Built: 1959
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 2
  • Common Walls: 1 Common Wall
  • Levels: Two
  • Price Per Square Foot: 482.65

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 3.00
  • Total Parking Spaces: 3.00

Utilities

  • Laundry: Yes
  • Laundry Features: Common Area
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Urban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 7355.00
  • Lot Size Acres: 0.1688

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Gross Income: 129960.00
  • Gross Operating Income: 126061.00
  • Gross Scheduled Income: 129960.00
  • Insurance Expense: 1740.00
  • Laundry Income: 1400.00
  • Lot Size Area: 7355.0000 Square Feet
  • Maintenance Expense: 6498.00
  • Net Operating Income: 84323.00
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 6
  • Number Of Units Total: 6
  • Operating Expense: 41738.00
  • Rent Control: Yes
  • Total Actual Rent: 129960.00
  • Total Expenses: 41738.00

Tax Info

  • New Taxes Expense: 27500.00
  • Tax Lot: 7
  • Tax Tract Number: 195902

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 29, 2019
Closed on
Mar 5, 2020
Sold by
Ko Hee
Bought by
Odero Fabrice
Seller's Agent
Matt Dunfrund
Lyon Stahl Investment Real Estate, Inc.
Buyer's Agent
Matthew Kanner
Keller Williams Realty Los Feliz
List Price
$2,399,000
Sold Price
$2,100,000
Premium/Discount to List
-$299,000
-12.46%
Current Estimated Value
$2,408,008

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$308,008
Avg. Annual Appreciation
2.46%
Original Mortgage
$850,000
Outstanding Balance
$751,175
Interest Rate
3.5%
Mortgage Type
Commercial
Estimated Equity
$1,656,833

Purchase Details

Listed on
May 29, 2019
Closed on
Feb 14, 2020
Sold by
Dutton Properties Ii Llc
Bought by
Ko Hee and Hee Ko Trust
Seller's Agent
Matt Dunfrund
Lyon Stahl Investment Real Estate, Inc.
Buyer's Agent
Matthew Kanner
Keller Williams Realty Los Feliz
List Price
$2,399,000
Sold Price
$2,100,000
Premium/Discount to List
-$299,000
-12.46%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$850,000
Outstanding Balance
$751,175
Interest Rate
3.5%
Mortgage Type
Commercial
Estimated Equity
$1,656,833

Purchase Details

Closed on
Oct 28, 2016
Sold by
Sparks Linda L
Bought by
Sparks Linda L and Linda Sparks Family Trust

Purchase Details

Closed on
Feb 16, 2010
Sold by
Dutton James L and James & Patricia Dutton Living
Bought by
Dutton Properties Ii Llc

Purchase Details

Closed on
May 21, 2004
Sold by
Szeto William Wai and Szeto Lai Sim
Bought by
Dutton James L and Dutton Patricia A
Source: Public Records

Range of Values:

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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
Odero Fabrice -- North American Title
Ko Hee $2,100,000 North American Title
Sparks Linda L -- Accommodation
Dutton Properties Ii Llc -- None Available
Dutton James L -- None Available
Dutton James Jay -- None Available
Dutton James L $839,754 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Ko Hee $850,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/11/2020 03/11/20 Sold $2,100,000 -4.5% $483 / Sq Ft
11/13/2019 11/13/19 Price Changed $2,200,000 -1.1% $506 / Sq Ft
07/19/2019 07/19/19 Price Changed $2,225,000 -7.3% $511 / Sq Ft
05/29/2019 05/29/19 For Sale $2,399,000 -- $551 / 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 $28,012 $2,296,653 $1,421,738 $874,915
2024 $28,012 $2,251,621 $1,393,861 $857,760
2023 $27,476 $2,207,473 $1,366,531 $840,942
2022 $26,215 $2,164,190 $1,339,737 $824,453
2021 $25,894 $2,121,756 $1,313,468 $808,288
2020 $13,809 $1,070,296 $764,729 $305,567
2019 $13,287 $1,049,311 $749,735 $299,576
2018 $13,173 $1,028,737 $735,035 $293,702
2016 $12,542 $988,793 $706,494 $282,299
2015 $12,366 $973,941 $695,882 $278,059
2014 $12,438 $954,864 $682,251 $272,613
Source: Public Records

Agents Affiliated with this Home

  • M

    Seller's Agent in 2020

    Matt Dunfrund

    Lyon Stahl Investment Real Estate, Inc.

    Section Image
  • Matthew Kanner

    Buyer's Agent in 2020

    Matthew Kanner

    Keller Williams Realty Los Feliz

    (323) 300-1000

    1 in this area

    17 Total Sales

    Matthew Kanner
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB19124724

California Regional Multiple Listing Service (CRMLS)

APN: 5427-016-012

California Los Angeles County Los Angeles 90026

1353 Edgecliffe Dr Unit 1, Los Angeles, CA

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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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