NOT LISTED FOR SALE

1457 Ridge Way Los Angeles, CA 90026

Echo Park Neighborhood

Estimated Value: $1,223,000 - $2,280,000

6 Beds
4 Baths
3,356 Sq Ft
$540/Sq Ft Est. Value

Last Sold June 16, 2017

Last sale price $1,200,000 $358 Per Sq Ft

Est. 51% increase in value since last sale

Current estimated payment $10,423/month

91 Days on Market

About This Home

As of June 2017

$200,000 PRICE REDUCTION! We are pleased to present the Ridge Way Apartments: a four (4) unit multifamily investment opportunity located in Angelino Heights, a small sub-market of Echo Park in the county of Los Angeles. These craftsmen style duplexes were built in 1906 and 1913. Both buildings make up 3,356 SF of living area. The property features two (2) spacious two bedroom / one bath units and two (2) one bedroom / one bath units and is situated on a 7,419 SF lot zoned R-2.The property is separately metered for electricity and master metered for gas. Each unit has their own individual water heater. All units are currently occupied. The property is in an amazing location with tremendous rental upside that a new owner/investor can take advantage of by remodeling the interior and exterior of the building to achieve strong market rents.

Last Agent to Sell the Property

Jonathan Prakash

Equity Union License #01483131 Listed on: 01/17/2017

Co-Listed By

Derrick Vartanian

Lyon Stahl Investment Real Estate, Inc. License #01816119

Last Buyer's Agent

Michael Locke

Compass License #01336803

Compass

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $9,834

Year Built

  • Built in 1913

Lot Details

  • 7,419 Sq Ft Lot

Parking

  • Garage

Interior Spaces

  • 3,356 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 4 Bathrooms
  • Bidet

Community Details

  • 4 Units

Listing and Financial Details

  • Assessor Parcel Number 5405-009-023

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$9,834

Year Built

Built in 1913

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 3356
  • Stories: 2
  • Year Built: 1913
  • Number Of Photos: 10
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Interior Amenities: Bidet
  • Bedrooms: 6
  • Dining Room: 0
  • Family Room: 0
  • Total Bathrooms: 4.00
  • Den: 0
  • Price Per S Q F T: 357.57

Exterior Features

  • Tennis Court Y/N: No
  • Pool: No
  • View: No

Garage/Parking

  • Parking Garage: Garage

Lot Info

  • Assessed Improvement Value: 116533
  • Assessed Land Value: 128451
  • Assessor Parcel Number: 5405-009-023
  • Geocode Override: No
  • Lot Size Area: 7419

Multi Family

  • Unit Type: 2106, 2107
  • Gross Rent Multiplier: 15.25
  • Number Of Units: 4
  • Rent Control: 100%
  • Total Annual Expense: 27133
  • Type Of Units: 2+1s, 1+1s
  • Vacancy Rate: 0%

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 17, 2017
Closed on
May 26, 2017
Sold by
Canton John A and Canton Sarah S
Bought by
Blanchard Thomas Lee
Seller's Agent
Jonathan Prakash
Equity Union
Buyer's Agent
Michael Locke
Compass
List Price
$1,400,000
Sold Price
$1,200,000
Premium/Discount to List
-$200,000
-14.29%
Current Estimated Value
$1,811,323

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$611,323
Avg. Annual Appreciation
5.09%
Original Mortgage
$525,000
Outstanding Balance
$436,691
Interest Rate
4.02%
Mortgage Type
New Conventional
Estimated Equity
$1,374,632

Purchase Details

Closed on
Mar 16, 2010
Sold by
Canton John A and Canton Sarah S
Bought by
Canton John A and Canton Sarah S

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$357,000
Interest Rate
4.71%
Mortgage Type
New Conventional

Purchase Details

Closed on
Apr 20, 2000
Sold by
Canton Sarah
Bought by
Canton John A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$109,900
Interest Rate
8.55%
Mortgage Type
Stand Alone Second

Purchase Details

Closed on
May 28, 1999
Sold by
Norman Alice L
Bought by
Canton John A and Canton Sarah

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$138,750
Interest Rate
6.9%

Purchase Details

Closed on
Apr 12, 1999
Sold by
Foos David
Bought by
Norman Alice L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$138,750
Interest Rate
6.9%

Purchase Details

Closed on
Mar 25, 1999
Sold by
Foos James
Bought by
Norman Alice L
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
Blanchard Thomas Lee $1,200,000 Lawyers Title Company
Canton John A -- Fidelity National Title Co
Canton John A -- United Title
Canton John A $185,000 Old Republic Title
Norman Alice L $20,000 Old Republic Title
Norman Alice L $20,000 Old Republic Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Blanchard Thomas Lee $525,000
Previous Owner Canton John A $357,000
Previous Owner Canton John A $109,900
Previous Owner Canton John A $138,750
Closed Canton John A $27,700
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
06/16/2017 06/16/17 Sold $1,200,000 0.0% $358 / Sq Ft
03/21/2017 03/21/17 Price Changed $1,200,000 -14.3% $358 / Sq Ft
02/15/2017 02/15/17 For Sale $1,400,000 +16.7% $417 / Sq Ft
02/14/2017 02/14/17 Off Market $1,200,000 -- --
01/17/2017 01/17/17 For Sale $1,400,000 -- $417 / 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 $9,834 $782,000 $454,000 $328,000
2024 $9,834 $782,000 $454,000 $328,000
2023 $10,000 $796,000 $462,000 $334,000
2022 $13,522 $1,122,000 $651,000 $471,000
2021 $13,135 $1,082,000 $628,000 $454,000
2019 $10,736 $879,000 $510,000 $369,000
2018 $15,023 $1,224,000 $714,000 $510,000
2016 $3,249 $244,984 $128,451 $116,533
2015 $3,206 $241,305 $126,522 $114,783
2014 $3,243 $236,579 $124,044 $112,535
Source: Public Records

Agents Affiliated with this Home

  • J

    Seller's Agent in 2017

    Jonathan Prakash

    Equity Union

    (424) 600-7620

    6 Total Sales

    Jonathan Prakash
    Section Image
  • Derrick Vartanian

    Seller Co-Listing Agent in 2017

    Derrick Vartanian

    Lyon Stahl Investment Real Estate, Inc.

    (310) 482-2200

    14 Total Sales

    Derrick Vartanian
    Section Image
  • Michael Locke

    Buyer's Agent in 2017

    Michael Locke

    Compass

    (323) 533-3161

    2 Total Sales

    Michael Locke
    Section Image
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Map

Source: The MLS

MLS Number: 17-193858

The MLS

APN: 5405-009-023

California Los Angeles County Los Angeles 90026 Echo Park

1457 Ridge Way, Los Angeles, CA

This home is located at 1457 Ridge Way, Los Angeles, CA 90026 since 17 January 2017 and is currently estimated at $1,811,323, approximately $539 per square foot. This property was built in 1913. 1457 Ridge Way is a home located in Los Angeles County with nearby schools including Logan Academy of Global Ecology, Ramón C. Cortines School of Visual and Performing Arts, and Belmont High School.

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