NOT LISTED FOR SALE

1531 E 92nd St Los Angeles, CA 90002

Watts Neighborhood

Estimated Value: $679,000 - $1,201,000

6 Beds
2 Baths
3,054 Sq Ft
$341/Sq Ft Est. Value

Last Sold March 06, 2023

Last sale price $1,180,000 $386 Per Sq Ft

Est. 12% decrease in value since last sale

Current estimated payment $6,760/month

109 Days on Market

About This Home

As of March 2023

This prime, 4 unit building, offers a superior unit mix of all 3 bedoom apartments and is not under Los Angeles City Rent Control. All tenants are paying rent and all the units have 2 tandem parking spaces in a gated parking area. Operating expenses are minimal on this building due to its efficient design, including the landlord being responsible for water only. Tenants pay for their own gas, electricity, and trash. Building has been well maintained by current ownership and qualifies for financing at 75% Loan to Value. Rents can be increased February 1st, 2023. The market rent capitalization rate can exceed 9 per cent.

Last Agent to Sell the Property

Mike Marcu

Mike Marcu, Broker License #00919594 Listed on: 10/14/2022

Last Buyer's Agent

Troy Huerta

SRE Matrix Alliance License #01028204

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1993

Lot Details

  • 5,738 Sq Ft Lot
  • 1 Common Wall
  • Density is 6-10 Units/Acre

Home Design

  • 3,054 Sq Ft Home
  • Quadruplex

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 2 Bathrooms

Parking

  • 8 Parking Spaces
  • Parking Available
  • Tandem Uncovered Parking

Additional Features

  • Urban Location
  • Sewer Paid

Listing and Financial Details

  • Tenant pays for electricity, gas, trash collection
  • Tax Lot 6044
  • Tax Tract Number 7
  • Assessor Parcel Number 6044007026
  • $952 per year additional tax assessments

Community Details

Overview

  • No Home Owners Association
  • 4 Units

Building Details

  • 4 Leased Units
  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $1,570
  • Insurance Expense $1,980
  • Maintenance Expense $3,874
  • Water Sewer Expense $7,138
  • New Taxes Expense $14,937
  • Operating Expense $29,499
  • Gross Income $82,800
  • Net Operating Income $53,301

Property Details

Home Type

Multi-Family

Year Built

Built in 1993

Lot Details

0

Listing Details

  • Property Attached: Yes
  • Water Sewer Expenses: 7138.00
  • Zoning: LAR3
  • Property Sub Type: Quadruplex
  • Property Type: Residential Income
  • Gardener Expense: 1570.00
  • Parcel Number: 6044007026
  • Year Built: 1993
  • Special Features: None

Interior Features

  • Common Walls: 1 Common Wall
  • Price Per Square Foot: 386.38

Exterior Features

  • Pool Private: No

Garage/Parking

  • Parking: Yes
  • Parking Features: Tandem Uncovered
  • Total Parking Spaces: 8.00

Utilities

  • Laundry: No
  • Sewer: Sewer Paid
  • 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: 6-10 Units/Acre
  • Lot Size Sq Ft: 5738.00
  • Lot Size Acres: 0.1317

Rental Info

  • Tenant Pays: Electricity, Gas, Trash Collection

Multi Family

  • Gross Operating Income: 82800.00
  • Gross Scheduled Income: 82800.00
  • Insurance Expense: 1980.00
  • Lot Size Area: 5738.0000 Square Feet
  • Maintenance Expense: 3874.00
  • Net Operating Income: 53301.00
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 4
  • Number Of Units Total: 4
  • Operating Expense: 29499.00
  • Rent Control: No
  • Total Actual Rent: 6900.00
  • Total Expenses: 29499.00

Tax Info

  • New Taxes Expense: 14937.00
  • Tax Census Tract: 2423.00
  • Tax Lot: 6044
  • Tax Tract Number: 007
  • TaxOtherAnnualAssessmentAmount: 952.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Aug 7, 2024
Sold by
Pangilinan Alfred and Pangilinan Jeanette
Bought by
1531E92ndst Llc
Current Estimated Value
$1,041,490

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$855,000
Outstanding Balance
$845,472
Interest Rate
6.95%
Mortgage Type
New Conventional
Estimated Equity
$196,018

Purchase Details

Closed on
Mar 27, 2018
Sold by
Tellez Jaime
Bought by
Prime Iii Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$553,000
Interest Rate
4.38%
Mortgage Type
Commercial

Purchase Details

Closed on
Mar 26, 2008
Sold by
Marci Ann Strange Trust
Bought by
Tellez Jaime

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$586,517
Interest Rate
5.87%
Mortgage Type
FHA

Purchase Details

Closed on
May 1, 2004
Sold by
1531 East 92Nd Street Llc
Bought by
Strange Marci Ann and The Revocable Living Trust Of Marci Ann

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$362,000
Interest Rate
4.28%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Apr 28, 2004
Sold by
Anderson Laurie N
Bought by
1531 East 92Nd St Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$362,000
Interest Rate
4.28%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Nov 18, 2003
Sold by
Anderson Laurie N
Bought by
Anderson Laurie N and Anderson Elizabeth A

Purchase Details

Closed on
Apr 11, 2002
Sold by
Anderson Elizabeth
Bought by
Anderson Laurie

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$276,250
Interest Rate
8.5%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Feb 12, 2002
Sold by
Anderson Margaret F
Bought by
Anderson Laurie

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$276,250
Interest Rate
8.5%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Jun 1, 2001
Sold by
Anderson Margaret F
Bought by
Anderson Laurie and Anderson Elizabeth

Purchase Details

Closed on
May 30, 1997
Sold by
Anderson Laurie
Bought by
Anderson Margaret F
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
1531E92ndst Llc $1,140,000 Fidelity National Title
Prime Iii Llc $790,000 Fidelity National Title Comp
Tellez Jaime $635,000 Commonwealth Land Title
Strange Marci Ann $465,000 Southland Title Corporation
1531 East 92Nd St Llc -- Southland Title
Anderson Laurie N -- --
Anderson Laurie N -- --
Anderson Laurie -- American Title Co
Anderson Laurie -- American Title Co
Anderson Laurie -- --
Anderson Margaret F -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open 1531E92ndst Llc $855,000
Previous Owner Prime Iii Llc $553,000
Previous Owner Tellez Jaime $586,517
Previous Owner Strange Marci Ann $362,000
Previous Owner Anderson Laurie $276,250
Previous Owner Anderson Laurie $276,250
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/06/2023 03/06/23 Sold $1,180,000 -1.3% $386 / Sq Ft
01/31/2023 01/31/23 Pending -- -- --
12/15/2022 12/15/22 Price Changed $1,195,000 -7.7% $391 / Sq Ft
10/14/2022 10/14/22 For Sale $1,295,000 -- $424 / 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 $15,444 $1,140,000 $600,000 $540,000
2024 $15,444 $1,203,600 $612,000 $591,600
2023 $11,360 $863,977 $317,155 $546,822
2022 $10,855 $847,037 $310,937 $536,100
2021 $10,712 $830,430 $304,841 $525,589
2019 $10,398 $805,800 $295,800 $510,000
2018 $9,588 $733,040 $294,369 $438,671
2016 $9,145 $704,578 $282,940 $421,638
2015 $9,008 $693,995 $278,690 $415,305
2014 $9,045 $680,401 $273,231 $407,170
Source: Public Records

Agents Affiliated with this Home

  • Mike Marcu

    Seller's Agent in 2023

    Mike Marcu

    Mike Marcu, Broker

    (562) 260-0940

    1 in this area

    15 Total Sales

    Mike Marcu
    Section Image
  • Troy Huerta

    Buyer's Agent in 2023

    Troy Huerta

    SRE Matrix Alliance

    (760) 420-5498

    1 in this area

    15 Total Sales

    Troy Huerta
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC22222671

California Regional Multiple Listing Service (CRMLS)

APN: 6044-007-026

California Los Angeles County Los Angeles 90002 Watts

1531 E 92nd St, Los Angeles, CA

Not Listed for Sale

MultiFamily

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