$2,925,000
SOLD JUL 29, 2025
23 Beds
20 Baths
12,456 Sq Ft
0.29 Acres

Recently Sold

$235 Per Sq Ft

7% Below List Price

15 Days on Market

About This Home

As of July 2025

This well maintained property represents the best value in La Cienega Heights. At $196 per unit and 11.5 times Gross, it is clearly the "Best in Class". There is (1) 3BR/2BA, (4) 2BR/2BA, (4) 2BR/1BA, (6)1BR/1BA and (1) Studio. The LA County Assessors list the property as 15 units, but it is operating as 16. The units are huge with a courtyard style layout and a pool. It has been in the family for 51 years, and managed professionally for decades. The property just benefitted from installation of brand new electrical service last year (by permit), and it has been retrofitted for EQ. There are 15 tuck-under parking spaces and a gated entry for security and convenience. It is 3 blocks from Kaiser West LA, and walking distance from Culver City Arts District, HBO, Amazon, Apple, and the Culver Steps. The rental upside is approximately 75%, resulting in a Pro-forma cap rate of 10.08%!! The property is being sold in conjunction with 2314 Corning, and be purchased together or separately. Don't miss this rare bargain!

Last Agent to Sell the Property

Keith Moret

Lyon Stahl Investment Real Estate, Inc. License #01802527 Listed on: 05/01/2025

Lyon Stahl Investment Real Estate, Inc.

Co-Listed By

Nicholas Ensbury

Lyon Stahl Investment Real Estate, Inc. License #02012167

Last Buyer's Agent

Shawn Mehrannia

Home Team Realty License #01874025

Home Team Realty

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1961

Lot Details

  • 0.29 Acre Lot
  • Gated Home

Interior Spaces

  • 12,456 Sq Ft Home
  • 2-Story Property
  • Oven or Range

Bedrooms and Bathrooms

  • 23 Bedrooms
  • 20 Bathrooms

Parking

  • 15 Parking Spaces
  • Covered Parking
  • Assigned Parking

Utilities

  • Heating System Uses Natural Gas
  • Heating System Mounted To A Wall or Window
  • Gas Water Heater
  • Central Water Heater

Community Details

  • 16 Units
  • Rent Control

Listing and Financial Details

  • The owner pays for water, pool service, gardener
  • Assessor Parcel Number 4302-027-029

Property Details

Home Type

Multi-Family

Year Built

Built in 1961

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Levels: Two
  • Street Number Display: Yes
  • Additional Assessor Parcel Numbers: No
  • Alley: Yes
  • Living Area: 12456
  • Lot Acreage: 0.2897
  • Probate: No
  • Stories: 2
  • Year Built: 1961
  • Number Of Photos: 10
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 23
  • Total Bathrooms: 20.00
  • Equipment: Refrigerator, Range/Oven
  • Price Per S Q F T: 252.89

Exterior Features

  • Other Structures: None
  • Paved: Yes

Garage/Parking

  • Parking Garage: Assigned, Covered Parking
  • Total Parking: 15

Utilities

  • Water Heater: Gas, Central Water Heater
  • Heating: Natural Gas, Wall
  • Number Electric Meters: 15
  • Number Gas Meters: 15
  • Security: Gated

Lot Info

  • Assessed Improvement Percent: 81.26
  • Assessed Improvement Value: 423033
  • Assessed Land Percent: 18.74
  • Assessed Land Value: 97549
  • Total Assessed Value: 520582
  • Assessor Parcel Number: 4302-027-029
  • Lot Size Area: 12619

Rental Info

  • Owner Pays: Water, Pool Service, Gardener
  • Rent Control: Yes

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109, 2110
  • Gross Rent Multiplier: 11.50
  • Number Of Units: 16
  • Rent Control: 100
  • Total Annual Expense: 138519
  • Type Of Units: Residential
  • Vacancy Allow Percent: 4.00
  • Vacancy Rate: 10,959

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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 Change Sq Ft Price
07/29/2025 07/29/25 Sold $2,925,000 -7.1% $235 / Sq Ft
05/16/2025 05/16/25 Pending -- -- --
05/01/2025 05/01/25 For Sale $3,150,000 -- $253 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: The MLS

MLS Number: 25533713

The MLS