NOT LISTED FOR SALE

1968 Lake Ave Altadena, CA 91001

29 Beds
27 Baths
23,035 Sq Ft
0.71 Acres

Last Sold December 04, 2017

Last sale price $9,370,000 $407 Per Sq Ft

83 Days on Market

About This Home

As of December 2017

-Millard Place is a newly constructed (built in 2015 Mixed-Use condominium property with ground floor retail/office units -The property consists of 18 separate condos made up of the following mix: 14 residential; 4 commercial -Residential units are fully leased have open floor plans, modern fixtures and large windows for natural lighting -The project is a ready to sell condo project with Full Subdivision, Final map and White Slip -Property contains 2 low income units (40-year restriction) -Property is surrounded by million dollar homes and sits just a few blocks from the Montecedro Senior Living Project and is also close to JPL and the Estate Area of Altadena -Ample parking for both residential and commercial units

Last Agent to Sell the Property

Thomas Jonsson

James Capital Advisors, Inc. License #01755842 Listed on: 07/19/2017

Co-Listed By

Jonathan Nikfarjam

Shield CRE, Inc. License #01856803

Last Buyer's Agent

Thomas Jonsson

James Capital Advisors, Inc. License #01755842

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 2015

Lot Details

  • 0.71 Acre Lot

Interior Spaces

  • 23,035 Sq Ft Home
  • 3-Story Property

Bedrooms and Bathrooms

  • 29 Bedrooms
  • 27 Bathrooms

Parking

  • 47 Parking Spaces
  • Assigned Parking

Community Details

  • 18 Units
  • Vacancy Allowance $17,071

Listing and Financial Details

  • Assessor Parcel Number 5845-016-023

Property Details

Home Type

Multi-Family

Year Built

Built in 2015

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Additional Assessor Parcel Numbers: Yes
  • Alley: Yes
  • Living Area: 23035
  • Manager Expense: 16559.00
  • Price Per Unit: 555556.00
  • Stories: 3
  • Year Built: 2015
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 29
  • Total Bathrooms: 27.00
  • Price Per S Q F T: 421.10

Exterior Features

  • Tennis Court Y/N: No
  • Paved: Yes
  • Pool: No

Garage/Parking

  • Parking Garage: Assigned
  • Total Parking: 47

Utilities

  • Number Electric Meters: 18
  • Number Gas Meters: 18
  • Water Expense: 19200.00
  • Water Heaters: Yes

Fee Information

  • Insurance Expense: 5880.00
  • Maintenance Expense: 5000.00
  • Other Expense: 2880.00

Lot Info

  • Assessed Improvement Value: 0
  • Assessed Land Value: 127974
  • Assessor Parcel Number: 5845-016-023
  • Geocode Override: No
  • Lot Size Area: 31020

Rental Info

  • Total Actual Rent: 569030.00

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109, 2110
  • Gross Rent Multiplier: 17.05
  • Number Of Units: 18
  • Type Of Units: 3, 2, 1 Bdr
  • Vacancy Allow: 17071
  • Vacancy Allow Percent: 5.00

Tax Info

  • Tax Expense: 121250.00
  • Tax Percent: 1.25
  • Tax Total: 121250.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jun 21, 2019
Sold by
Hong Sungyun and Hong Youngju
Bought by
1968 N Lake Ave Llc

Purchase Details

Listed on
Jul 19, 2017
Closed on
Nov 15, 2017
Sold by
Gottschall Jeffrey
Bought by
Gottschall Anne Hong
Seller's Agent
Thomas Jonsson
James Capital Advisors, Inc.
Buyer's Agent
Thomas Jonsson
James Capital Advisors, Inc.
List Price
$9,700,000
Sold Price
$9,370,000
Premium/Discount to List
-$330,000
-3.4%
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
1968 N Lake Ave Llc -- None Available
Gottschall Anne Hong -- Lawyers Title
Fernandez Jane Hong -- Lawyers Title
Hong Sungyun $9,370,000 Lawyers Title
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
12/04/2017 12/04/17 Sold $9,370,000 -3.4% $407 / Sq Ft
09/19/2017 09/19/17 For Sale $9,700,000 0.0% $421 / Sq Ft
09/19/2017 09/19/17 Price Changed $9,700,000 +3.5% $421 / Sq Ft
09/07/2017 09/07/17 Off Market $9,370,000 -- --
07/19/2017 07/19/17 For Sale $10,000,000 -- $434 / 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 $12,113 $781,408 $244,976 $536,432
2024 $12,113 $1,001,433 $300,215 $701,218
2023 $12,009 $981,798 $294,329 $687,469
2022 $11,601 $962,548 $288,558 $673,990
2021 $10,975 $943,675 $282,900 $660,775
2020 $12,720 $1,144,440 $280,908 $863,532
2019 $12,749 $1,122,000 $275,400 $846,600
2018 $13,022 $1,100,000 $270,000 $830,000
2017 $2,075 $130,533 $130,533 $0
2016 $1,503 $127,974 $127,974 $0
Source: Public Records

Agents Affiliated with this Home

  • T

    Seller's Agent in 2017

    Thomas Jonsson

    James Capital Advisors, Inc.

  • Jonathan Nikfarjam

    Seller Co-Listing Agent in 2017

    Jonathan Nikfarjam

    Shield CRE, Inc.

    (310) 880-6807

    78 Total Sales

    Jonathan Nikfarjam
    Section Image
  • Will James

    Buyer Co-Listing Agent in 2017

    Will James

    Lyon Stahl Investment Real Estate, Inc.

    (310) 600-9858

    30 Total Sales

    Will James
    Section Image
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Map

Source: The MLS

MLS Number: 17-253040

The MLS

APN: 5845-016-023

California Los Angeles County Altadena 91001

1968 Lake Ave, Altadena, CA

Not Listed for Sale

MultiFamily

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