NOT LISTED FOR SALE

1422 W 29th St Los Angeles, CA 90007

Adams-Normandie Neighborhood

Estimated Value: $1,287,000 - $1,412,000

5 Beds
3 Baths
2,832 Sq Ft
$469/Sq Ft Est. Value

Last Sold September 13, 2021

Last sale price $1,100,000 $388 Per Sq Ft

Est. 21% increase in value since last sale

Current estimated payment $8,364/month

42 Days on Market

About This Home

As of September 2021

We are pleased to offer the opportunity to acquire this five (5) Bedroom + three (3) Bathroom student housing investment opportunity, located in the DPS Patrol Zone, and just blocks to the University of Southern California (USC). The subject property was completely updated and remodeled in 2019, and features hardwood floors, granite counter-tops, stainless steel kitchen appliances, and in-unit washer & dryer. The property is approximately 2,832 rentable square feet on a 6,158 square foot lot, and presents an excellent value-add opportunity to construct an ADU, and further increase cash flow. (Buyer to verify)The investment is 100% occupied with USC students and fully leased for the 2021-2022 academic school year. Combined with parental guarantees on leases and occupancy levels routinely achieving 100% for the school year, the asset represents a low-risk investment that is poised for continued growth and excellent operating fundamentals.

Last Agent to Sell the Property

Davis Saadian

Keller Williams Hollywood Hills License #01921748 Listed on: 08/02/2021

Keller Williams Hollywood Hills

Co-Listed By

Adam Shamooelian

Keller Williams Beverly Hills License #02116849

Last Buyer's Agent

Davis Saadian

Keller Williams Hollywood Hills License #01921748 Listed on: 08/02/2021

Keller Williams Hollywood Hills

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $14,150

Year Built

  • Built in 1904

Lot Details

  • 6,159

Parking

  • 5 Parking Spaces

Interior Spaces

  • 2,832 Sq Ft Home
  • 1-Story Property
  • Washer

Kitchen

  • Oven or Range
  • Microwave
  • Freezer
  • Ice Maker
  • Dishwasher
  • Disposal

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 3 Bathrooms

Additional Features

  • 6,159 Sq Ft Lot
  • Air Conditioning

Community Details

  • 2 Units

Listing and Financial Details

  • Assessor Parcel Number 5054-037-010

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$14,150

Year Built

Built in 1904

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 2832
  • Lot Acreage: 0.1414
  • Stories: 1
  • Year Built: 1904
  • Number Of Photos: 1
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 5
  • Total Bathrooms: 3.00
  • Equipment: Range/Oven, Refrigerator, Washer, Ice Maker, Garbage Disposal, Freezer, Dishwasher, Microwave
  • Price Per S Q F T: 423.73

Exterior Features

  • Other Structures: Other

Garage/Parking

  • Total Parking: 5

Utilities

  • Cooling: Air Conditioning

Lot Info

  • Assessed Improvement Percent: 39.88
  • Assessed Improvement Value: 316770
  • Assessed Land Percent: 60.12
  • Assessed Land Value: 477543
  • Total Assessed Value: 794313
  • Assessor Parcel Number: 5054-037-010
  • Lot Size Area: 6159

Multi Family

  • Unit Type: 2106
  • Gross Rent Multiplier: 15.15
  • Number Of Units: 2
  • Total Annual Expense: 15810
  • Type Of Units: SFR
  • Vacancy Rate: 0

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Aug 2, 2021
Closed on
Aug 25, 2021
Sold by
Kopel Gary S and Mehta Minal G
Bought by
Ursa 1422 29Th St Llc
Seller's Agent
Davis Saadian
Keller Williams Hollywood Hills
Buyer's Agent
Davis Saadian
Keller Williams Hollywood Hills
List Price
$1,200,000
Sold Price
$1,100,000
Premium/Discount to List
-$100,000
-8.33%
Current Estimated Value
$1,328,988

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$228,988
Avg. Annual Appreciation
4.46%

Purchase Details

Closed on
Jul 26, 2016
Sold by
1422 Llc
Bought by
Kopel Gary S and Mehta Minal G

Purchase Details

Closed on
Jun 21, 2016
Sold by
Mendoza Patricia
Bought by
1422 Llc

Purchase Details

Closed on
Oct 13, 2010
Sold by
Delgado Carlos
Bought by
Mendoza Patricia

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$335,482
Interest Rate
4.33%
Mortgage Type
FHA

Purchase Details

Closed on
Jun 9, 2010
Sold by
Muir Pamela
Bought by
Delgado Carlos

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$260,000
Interest Rate
4.76%
Mortgage Type
Unknown

Purchase Details

Closed on
Jul 29, 1999
Sold by
Robinson Donia L
Bought by
Robinson Donia L and Smith Edison M
Source: Public Records

Range of Values:

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Average Value
Not Available
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
Ursa 1422 29Th St Llc $1,100,000 North American Title
Kopel Gary S $748,500 Fidelity Sherman Oaks
1422 Llc -- Accommodation
Mendoza Patricia $340,000 Orange Coast Title
Delgado Carlos $235,000 California Title Company
Robinson Donia L -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Ursa 1422 29Th St Llc $1,700,000
Previous Owner Kopel Gary S $300,000
Previous Owner Mendoza Patricia $335,482
Previous Owner Alva George $260,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
09/13/2021 09/13/21 Sold $1,100,000 -8.3% $388 / Sq Ft
09/13/2021 09/13/21 Pending -- -- --
08/02/2021 08/02/21 For Sale $1,200,000 -- $424 / 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 $14,150 $1,167,328 $1,061,208 $106,120
2024 $14,150 $1,144,440 $1,040,400 $104,040
2023 $13,881 $1,122,000 $1,020,000 $102,000
2022 $13,242 $1,100,000 $1,000,000 $100,000
2021 $9,829 $802,541 $482,490 $320,051
2020 $9,926 $794,313 $477,543 $316,770
2019 $9,538 $778,739 $468,180 $310,559
2018 $9,444 $763,470 $459,000 $304,470
2017 $9,236 $748,500 $450,000 $298,500
2016 $4,626 $367,966 $216,451 $151,515
2015 $4,561 $362,440 $213,200 $149,240
2014 $4,589 $355,341 $209,024 $146,317
Source: Public Records

Agents Affiliated with this Home

  • Davis Saadian

    Seller's Agent in 2021

    Davis Saadian

    Keller Williams Hollywood Hills

    (310) 402-8958

    17 in this area

    79 Total Sales

    Davis Saadian
    Section Image
  • Adam Shamooelian

    Seller Co-Listing Agent in 2021

    Adam Shamooelian

    Keller Williams Beverly Hills

    (310) 432-6400

    10 in this area

    48 Total Sales

    Adam Shamooelian
    Section Image
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Map

Source: The MLS

MLS Number: 21-767734

The MLS

APN: 5054-037-010

California Los Angeles County Los Angeles 90007 Adams-Normandie

1422 W 29th St, Los Angeles, CA

This home is located at 1422 W 29th St, Los Angeles, CA 90007 since 02 August 2021 and is currently estimated at $1,328,988, approximately $469 per square foot. This property was built in 1904. 1422 W 29th St is a home located in Los Angeles County with nearby schools including Vermont Avenue Elementary School, Manual Arts Senior High School, and St. Agnes Parish School.

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