NOT LISTED FOR SALE

1438 Magnolia Ave Los Angeles, CA 90006

Pico-Union Neighborhood

Estimated Value: $1,113,000 - $1,516,000

4 Beds
4 Baths
4,200 Sq Ft
$324/Sq Ft Est. Value

Last Sold January 09, 2020

Last sale price $980,000 $233 Per Sq Ft

Est. 39% increase in value since last sale

Current estimated payment $8,506/month

66 Days on Market

About This Home

As of January 2020

Excellent opportunity for investor or owner. This beautiful property is comprised of 4 large 1 Bedroom + Den+1 Bathroom units that are approximately 1,050 SF each. Profile shows all units with 1 Bedroom+ 1 bathroom, but actually 1 Bedroom + Den+ 1 Bathroom. All units have a den that can be used 2nd bedroom and each unit has their own washer & Dryer hookups. Building size is approx. 4,200 SF and Lot size is approx. 6,085 SF with 8 parking spaces in rear. Recently renovated the staircase in the backyard. A true value is much below market. All tenant are long term stable tenants with month to month. Situated minutes from 10 Fwy and metro line. Units are individually metered for gas and electric and each has own water heater. No showings without an accepted offer. Drive by only!! Please do not disturb tenants!!

Last Agent to Sell the Property

Mi Choi

New Star Realty License #01087146 Listed on: 09/18/2019

New Star Realty

Last Buyer's Agent

Steven Bae

High Equity Real Estate Service, Inc. License #02033375

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $13,228

Year Built

  • Built in 1912

Lot Details

  • 6,085

Interior Spaces

  • 4,200 Sq Ft Home
  • 2-Story Property
  • Gas And Electric Dryer Hookup

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 4 Bathrooms

Parking

  • 8 Open Parking Spaces
  • 8 Parking Spaces

Additional Features

  • 6,085 Sq Ft Lot
  • Accessory Dwelling Unit (ADU)
  • Phone System

Community Details

  • 4 Units
  • Rent Control

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • The owner pays for water
  • Assessor Parcel Number 5056-007-016

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$13,228

Year Built

Built in 1912

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 4200
  • Probate: No
  • Stories: 2
  • Year Built: 1912
  • Number Of Photos: 15
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 4
  • Dining Room: 0
  • Family Room: 0
  • Total Bathrooms: 4.00
  • Den: 0
  • Equipment: Gas Or Electric Dryer Hookup, Phone System
  • Price Per S Q F T: 235.48

Exterior Features

  • Other Structures: Accessory Dwelling Unit
  • Tennis Court Y/N: No
  • Pool: No

Garage/Parking

  • Other Spaces: 8
  • Parking Garage: Uncovered
  • Total Parking: 8

Utilities

  • Water Expense: 3000.00

Fee Information

  • Insurance Expense: 2400.00

Lot Info

  • Assessed Improvement Value: 226350
  • Assessed Land Value: 565884
  • Assessor Parcel Number: 5056-007-016
  • Geocode Override: No
  • Lot Size Area: 6085

Rental Info

  • Total Actual Rent: 61668.00
  • Lease Per Month Year: Month
  • Owner Pays: Water
  • Rent Control: Yes
  • Tenant Pays: Cable TV, Electricity, Gas

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109
  • Gross Rent Multiplier: 16.03
  • Number Of Units: 4
  • Total Annual Expense: 15524.40
  • Type Of Units: Income
  • Vacancy Rate: 0

Tax Info

  • Tax Expense: 10124.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Nov 30, 2021
Sold by
Eunhee Jung Living Trust
Bought by
Paul Sun Jung Living Trust
Total Days on Market
66
Current Estimated Value
$1,358,704

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$551,000
Outstanding Balance
$508,722
Interest Rate
3.09%
Mortgage Type
New Conventional
Estimated Equity
$812,354

Purchase Details

Listed on
Sep 18, 2019
Closed on
Dec 7, 2019
Sold by
Myung June Woohyon and Myung Woo Hyon
Bought by
Jung Paul Sun and Paul Sun Jung Living Trust
Seller's Agent
Mi Choi
New Star Realty
Buyer's Agent
Steven Bae
High Equity Real Estate Service, Inc.
List Price
$989,000
Sold Price
$980,000
Premium/Discount to List
-$9,000
-0.91%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
5.44%
Original Mortgage
$335,000
Interest Rate
5.87%
Mortgage Type
New Conventional

Purchase Details

Closed on
Mar 20, 2008
Sold by
Bank Of New York
Bought by
Myung Woo Hyon

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$392,000
Interest Rate
5.99%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Nov 20, 2006
Sold by
Kim Chang Uk
Bought by
Bank Of New York and The Certificateholders Of Cwalt 2005-38

Purchase Details

Closed on
May 23, 2005
Sold by
Rue Kwi Soo
Bought by
Kim Chang Uk

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$588,000
Interest Rate
1%
Mortgage Type
New Conventional

Purchase Details

Closed on
Sep 3, 2004
Sold by
Han Hyun Mi
Bought by
Rue Kwi Soo

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
7.75%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Sep 2, 2004
Sold by
Hua Dong Keun
Bought by
Rue Kwi Soo

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
7.75%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Nov 19, 2003
Sold by
Shin Hwa Yoo
Bought by
Hua Dong Keun

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$336,000
Interest Rate
6.75%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Jan 7, 2003
Sold by
Lee Bryan
Bought by
Shin Hwa Yoo

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$322,200
Interest Rate
5.83%

Purchase Details

Closed on
Feb 28, 2002
Sold by
Dunkley Sandra
Bought by
Lee Bryan

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$232,000
Interest Rate
7.15%

Purchase Details

Closed on
Feb 26, 2002
Sold by
Lee Yoon Hee
Bought by
Lee Bryan

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$232,000
Interest Rate
7.15%

Purchase Details

Closed on
Jun 3, 1999
Sold by
Pacific Access Corp
Bought by
Dunkley Sandra

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
9.1%

Purchase Details

Closed on
May 26, 1999
Sold by
Correa Mary
Bought by
Pacific Access Corp

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
9.1%
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
Paul Sun Jung Living Trust -- Placer Title
Eunhee Jung Living Trust -- Placer Title
Jung Paul Sun $980,000 Chicago Title Co
Myung Woo Hyon $560,000 Landsafe Title
Bank Of New York $642,060 Landsafe Title
Kim Chang Uk $735,000 Stewart Title Company
Rue Kwi Soo -- Commonwealth Title
Rue Kwi Soo $638,000 Commonwealth Title
Hua Dong Keun $460,000 Fatcola
Shin Hwa Yoo $358,000 Fatcola
Shin Hwa Yoo $358,000 Fatcola
Lee Bryan $290,000 Fidelity Title
Lee Bryan -- Fidelity Title
Dunkley Sandra $300,000 Equity Title Company
Pacific Access Corp $199,000 Equity Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Eunhee Jung Living Trust $551,000
Previous Owner Jung Paul Sun $335,000
Previous Owner Myung Woo Hyon $377,000
Previous Owner Myung Woo Hyon $392,000
Previous Owner Myung Woo Hyon $392,000
Previous Owner Kim Chang Uk $34,000
Previous Owner Kim Chang Uk $588,000
Previous Owner Rue Kwi Soo $500,000
Previous Owner Hua Dong Keun $336,000
Previous Owner Shin Hwa Yoo $50,000
Previous Owner Shin Hwa Yoo $27,000
Previous Owner Shin Hwa Yoo $322,200
Previous Owner Lee Bryan $232,000
Previous Owner Dunkley Sandra $240,000
Closed Hua Dong Keun $42,000
Closed Rue Kwi Soo $106,100
Closed Kim Chang Uk $73,500
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
01/09/2020 01/09/20 Sold $980,000 -0.9% $233 / Sq Ft
11/23/2019 11/23/19 Pending -- -- --
09/18/2019 09/18/19 For Sale $989,000 -- $235 / 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 $13,228 $1,071,769 $765,550 $306,219
2024 $13,228 $1,050,755 $750,540 $300,215
2023 $12,981 $1,030,153 $735,824 $294,329
2022 $12,393 $1,009,955 $721,397 $288,558
2021 $12,223 $990,152 $707,252 $282,900
2019 $10,261 $824,239 $588,745 $235,494
2018 $10,124 $808,078 $577,201 $230,877
2016 $9,654 $776,701 $554,789 $221,912
2015 $9,516 $765,035 $546,456 $218,579
2014 $8,229 $640,000 $448,500 $191,500
Source: Public Records

Agents Affiliated with this Home

  • M

    Seller's Agent in 2020

    Mi Choi

    New Star Realty

    (213) 385-4989

    17 Total Sales

    Mi Choi
    Section Image
  • Steven Bae

    Buyer's Agent in 2020

    Steven Bae

    High Equity Real Estate Service, Inc.

    (310) 528-5240

    20 Total Sales

    Steven Bae
    Section Image
  • Anna Kim

    Buyer Co-Listing Agent in 2020

    Anna Kim

    High Equity Real Estate Service, Inc.

    (213) 216-4315

    1 in this area

    21 Total Sales

    Anna Kim
    Section Image
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Map

Source: The MLS

MLS Number: 19-508942

The MLS

APN: 5056-007-016

California Los Angeles County Los Angeles 90006 Pico-Union

1438 Magnolia Ave, Los Angeles, CA

This home is located at 1438 Magnolia Ave, Los Angeles, CA 90006 since 18 September 2019 and is currently estimated at $1,358,704, approximately $323 per square foot. This property was built in 1912. 1438 Magnolia Ave is a home located in Los Angeles County with nearby schools including Magnolia Avenue Elementary School, Berendo Middle, and West Adams Preparatory High School.

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