NOT LISTED FOR SALE

14507 Corby Ave Norwalk, CA 90650

Estimated Value: $989,000 - $1,196,000

4 Beds
3 Baths
2,756 Sq Ft
$391/Sq Ft Est. Value

Last Sold July 19, 2021

Last sale price $858,000 $311 Per Sq Ft

Est. 25% increase in value since last sale

Current estimated payment $6,851/month

11 Days on Market

About This Home

As of July 2021

14507 Corby Avenue Apartments is one of two adjacent four-unit apartment buildings located on Corby Ave. in the City of Norwalk. The property offers two, two bedroom one bath units and two, one bedroom one bath units. The property was acquired by the owner (a non-profit housing corporation) and has been an affordable rental complex with a rent-restriction covenant in place since acquisition. The owner received acquisition assistance from the city of Norwalk in the form of HOME funds. Upon the close of escrow, the city funds will be retuned and the rent restriction covenant will no longer be in place. This will allow a new owner to gradually raise the existing rents; and as the complex experiences turnover, bring the rents to full market. As a result the new owner may be able to obtain significant upside from the current rents and appreciation. The owner would prefer to sell both buildings simultaneously, however, will consider individual sales.

Last Agent to Sell the Property

Ralph Castaneda

Keystone Properties, Inc. License #01157402 Listed on: 03/17/2021

Last Buyer's Agent

Ralph Castaneda

Keystone Properties, Inc. License #01157402 Listed on: 03/17/2021

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $11,819

Year Built

  • Built in 1962

Lot Details

  • 5,616 Sq Ft Lot
  • Two or More Common Walls
  • Density is 26-30 Units/Acre

Home Design

  • 2,756 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 3 Bathrooms

Parking

  • 2 Open Parking Spaces
  • 6 Parking Spaces
  • 4 Carport Spaces

Outdoor Features

  • Exterior Lighting
  • Rain Gutters

Listing and Financial Details

  • Tax Lot 20
  • Tax Tract Number 27086
  • Assessor Parcel Number 8074021045

Community Details

Overview

  • 4 Units

Building Details

  • Rent Control
  • 5 Separate Electric Meters
  • 5 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $349
  • Fuel Expense $1,137
  • Gardener Expense $795
  • Insurance Expense $1,000
  • Maintenance Expense $4,538
  • Other Expense $415
  • Pest Control $381
  • Trash Expense $2,010
  • Water Sewer Expense $2,495
  • New Taxes Expense $12,500
  • Operating Expense $25,776
  • Gross Income $47,580
  • Net Operating Income $20,852

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$11,819

Year Built

Built in 1962

Lot Details

0

Listing Details

  • Property Attached: Yes
  • Water Sewer Expenses: 2495.00
  • Zoning: NOR3YY
  • Property Type: Residential Income
  • Gardener Expense: 795.00
  • Parcel Number: 8074021045
  • Year Built: 1962
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Price Per Square Foot: 311.32

Exterior Features

  • Pool Private: No

Garage/Parking

  • Carport Spaces: 4.00
  • Total Parking Spaces: 6.00
  • Uncovered Spaces: 2.00

Utilities

  • Laundry: No
  • Pest Control Expense: 381.00
  • Sewer: Public Sewer
  • Trash Expense: 2010.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Curbs, Gutters, Sidewalks, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 26-30 Units/Acre
  • Lot Size Sq Ft: 5616.00
  • Lot Size Acres: 0.1289

Multi Family

  • Electric Expense: 349.00
  • Fuel Expense: 1137.00
  • Gross Income: 47580.00
  • Gross Operating Income: 46628.00
  • Gross Scheduled Income: 47580.00
  • Insurance Expense: 1000.00
  • Lot Size Area: 5616.0000 Square Feet
  • Maintenance Expense: 4538.00
  • Net Operating Income: 20852.00
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 4
  • Operating Expense: 25776.00
  • Other Expense: 415.00
  • Rent Control: Yes
  • Total Actual Rent: 3965.00
  • Total Expenses: 25776.00
  • Vacancy Allowance: 952
  • Vacancy Allowance Rate: 2.00

Tax Info

  • New Taxes Expense: 12500.00
  • Tax Census Tract: 5528.00
  • Tax Lot: 20
  • Tax Tract Number: 27086

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Apr 5, 2022
Sold by
Melodi Elist
Bought by
Ajzachi Kamyar
Current Estimated Value
$1,076,451

Purchase Details

Listed on
Mar 17, 2021
Closed on
Jul 29, 2021
Sold by
Ajzachi Kamyar
Bought by
Yellow Cat Llc
Seller's Agent
Ralph Castaneda
Keystone Properties, Inc.
Buyer's Agent
Ralph Castaneda
Keystone Properties, Inc.
List Price
$1,050,000
Sold Price
$858,000
Premium/Discount to List
-$192,000
-18.29%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
5.31%
Original Mortgage
$643,500
Interest Rate
2.9%
Mortgage Type
New Conventional

Purchase Details

Listed on
Mar 17, 2021
Closed on
Jul 12, 2021
Sold by
Hadyeh Elist Melody
Bought by
Ajzachi Kamyar
Seller's Agent
Ralph Castaneda
Keystone Properties, Inc.
Buyer's Agent
Ralph Castaneda
Keystone Properties, Inc.
List Price
$1,050,000
Sold Price
$858,000
Premium/Discount to List
-$192,000
-18.29%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$643,500
Interest Rate
2.9%
Mortgage Type
New Conventional

Purchase Details

Listed on
Mar 17, 2021
Closed on
Jun 17, 2021
Sold by
Western Developments For Affd Hsng Inc
Bought by
Ajzachi Kamyar
Seller's Agent
Ralph Castaneda
Keystone Properties, Inc.
Buyer's Agent
Ralph Castaneda
Keystone Properties, Inc.
List Price
$1,050,000
Sold Price
$858,000
Premium/Discount to List
-$192,000
-18.29%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$643,500
Interest Rate
2.9%
Mortgage Type
New Conventional

Purchase Details

Closed on
Feb 7, 1994
Sold by
Brown Robert
Bought by
Brown Nellie Katherine
Source: Public Records

Range of Values:

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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
Ajzachi Kamyar -- Servicelink
Ajzachi Kamyar -- Servicelink
Yellow Cat Llc -- Commonwealth Land Title Co
Ajzachi Kamyar -- Commonwealth Land Title Co
Ajzachi Kamyar $858,000 Commonwealth Land Title Co
Brown Nellie Katherine -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Ajzachi Kamyar $643,500
Previous Owner Western Developments For Affordable Hous $140,000
Previous Owner Western Developments For Affordable Hous $148,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/19/2021 07/19/21 Sold $858,000 -18.3% $311 / Sq Ft
03/28/2021 03/28/21 Pending -- -- --
03/17/2021 03/17/21 For Sale $1,050,000 -- $381 / 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 $11,819 $910,515 $477,543 $432,972
2024 $11,819 $892,663 $468,180 $424,483
2023 $11,414 $875,160 $459,000 $416,160
2022 $11,216 $858,000 $450,000 $408,000
2021 $4,564 $295,014 $147,507 $147,507
2020 $4,466 $291,990 $145,995 $145,995
2019 $4,442 $286,266 $143,133 $143,133
2018 $4,246 $280,654 $140,327 $140,327
2016 $4,048 $269,758 $134,879 $134,879
2015 $4,008 $265,706 $132,853 $132,853
2014 $3,776 $260,502 $130,251 $130,251
Source: Public Records

Agents Affiliated with this Home

  • R

    Seller's Agent in 2021

    Ralph Castaneda

    Keystone Properties, Inc.

    (714) 206-7173

    2 in this area

    8 Total Sales

    Ralph Castaneda
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW21056013

California Regional Multiple Listing Service (CRMLS)

APN: 8074-021-045

California Los Angeles County Norwalk 90650

14507 Corby Ave, Norwalk, CA

This home is located at 14507 Corby Ave, Norwalk, CA 90650 since 17 March 2021 and is currently estimated at $1,076,451, approximately $390 per square foot. This property was built in 1962. 14507 Corby Ave is a home located in Los Angeles County with nearby schools including John H. Nuffer Elementary School, Los Alisos Middle School, and Norwalk High School.

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.

California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

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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