NOT LISTED FOR SALE
-- Bed
12 Baths
7,312 Sq Ft
234,717,488 Sq Ft Lot

Last Sold September 14, 2022

Last sale price $2,500,000 $342 Per Sq Ft

79 Days on Market

Highlights

  • Gated Parking
  • 14 Car Attached Garage
  • Ceiling Fan

About This Home

As of September 2022

OFFERED FOR THE FIRST TIME IN 17 YEARS! 175 & 179 N Edgemont Street is comprised of Two 6-unit multifamily structures (side by-side) located in the trendy and high growth area of Koreatown. Each building sits on it's own parcel (5518-012-015 & 5518-012-016) and is comprised of a rare mix of 6 extra large Studio + Den apartment homes (12 units total); (Ample parking 14 spaces). Easy to own and operate, simple management. These two-story walk-up style complexes were built in 1940. Each unit is +- 600 square feet on average. These twin sister buildings command a corner location and are located less than half a mile to the metro station. The area boasts a healthy score of 88 on walkability providing the ideal location & crossroads for where millennials want to live, work and play. Incredible Development Opportunity: PRICED AT LAND VALUE FOR 2 CONTIGUOUS MASSIVE CORNER LOTS OF NEARLY 11,000 SQ, FT. TOTAL WITH EXTRA WIDE FRONTAGE ON BOTH STREETS. ZONED LAR3 LOCATED IN OPPOUTUNITY ZONE + BENEFIT OF A TOC TIER 3 OVERLAY + DENSITY BONUS FOR FUTURE DEVELOPMENT POTENTIAL (Buyer to conduct their own due diligence with the City of Los Angeles).

Last Agent to Sell the Property

Kevin Kawaoka, CCIM

NAI Capital, Inc. License #01733613 Listed on: 06/12/2022

NAI Capital, Inc.

Last Buyer's Agent

Kevin Kawaoka, CCIM

NAI Capital, Inc. License #01733613 Listed on: 06/12/2022

NAI Capital, Inc.

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1940

Lot Details

  • 0.25

Interior Spaces

  • 12 Bathrooms
  • 7,312 Sq Ft Home
  • 2-Story Property
  • Ceiling Fan

Parking

  • 14 Car Attached Garage
  • Gated Parking

Additional Features

  • 10,990 Sq Ft Lot
  • Heating System Mounted To A Wall or Window

Community Details

  • 12 Units

Listing and Financial Details

  • Assessor Parcel Number 5518-012-015

Property Details

Home Type

Multi-Family

Year Built

Built in 1940

Lot Details

0.25 Acres

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 7312
  • Lot Acreage: 0.1237
  • Stories: 2
  • Year Built: 1940
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bathrooms: 12.00
  • Equipment: Ceiling Fan
  • Price Per S Q F T: 341.77

Exterior Features

  • Other Structures: Other

Garage/Parking

  • Parking Garage: Gated, Garage Is Detached
  • Total Parking: 14

Utilities

  • Heating: Wall

Lot Info

  • Assessed Improvement Percent: 14.92
  • Assessed Improvement Value: 126242
  • Assessed Land Percent: 85.08
  • Assessed Land Value: 719626
  • Total Assessed Value: 845868
  • Assessor Parcel Number: 5518-012-015
  • Lot Size Area: 10990

Multi Family

  • Unit Type: 2106
  • Gross Rent Multiplier: 12.46
  • Number Of Units: 12
  • Type Of Units: 0+1
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
09/14/2022 09/14/22 Sold $2,500,000 0.0% $342 / Sq Ft
08/30/2022 08/30/22 Pending -- -- --
08/15/2022 08/15/22 Price Changed $2,499,000 -7.3% $342 / Sq Ft
07/22/2022 07/22/22 Price Changed $2,695,000 0.0% $369 / Sq Ft
07/22/2022 07/22/22 For Sale $2,695,000 +7.8% $369 / Sq Ft
07/21/2022 07/21/22 Off Market $2,500,000 -- --
07/21/2022 07/21/22 For Sale $2,650,000 +6.0% $362 / Sq Ft
06/21/2022 06/21/22 Off Market $2,500,000 -- --
06/12/2022 06/12/22 For Sale $2,650,000 -- $362 / Sq Ft
Source: The MLS

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 $15,657 $1,248,480 $1,040,400 $208,080
2024 $15,657 $1,224,000 $1,020,000 $204,000
2023 $15,369 $1,200,000 $1,000,000 $200,000
2022 $11,028 $862,784 $734,018 $128,766
2021 $10,883 $845,868 $719,626 $126,242
2020 $10,986 $839,206 $712,248 $126,958
2019 $10,577 $822,792 $698,283 $124,509
2018 $10,455 $806,700 $684,592 $122,108
2016 $9,948 $773,445 $658,009 $115,436
2015 $9,811 $761,829 $648,126 $113,703
2014 $8,489 $930,000 $650,000 $280,000
Source: Public Records

Agents Affiliated with this Home

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Map

Source: The MLS

MLS Number: 22-167691

The MLS
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