NOT LISTED FOR SALE

220 S Commonwealth Ave Los Angeles, CA 90004

Westlake Neighborhood
3 Beds
3 Baths
12,428 Sq Ft
0.37 Acres

Last Sold October 10, 2013

Last sale price $2,870,000 $231 Per Sq Ft

Highlights

  • 0.37 Acre Lot
  • No HOA
  • Laundry Room

About This Home

As of October 2013

Back on the market! Major price Reduction $200,000. Good opportunity hard to find in the current real estate market. Tremendous upside potential. Current rent is below market. The property consists of 2 2bed 1bath, 12 1bed 1bath & 10 Single 1bath, great mix of units. It is located in the edge of Korea Town and close to Silver Lake in the Mid Wilshire area. Very well maintained building. This property is being sold "as is". Please do not walk onto the property. All the utilities are paid by the Landlord and it's under Rent Control.

Last Agent to Sell the Property

Beverly Rutkin

Coldwell Banker Realty License #00551953 Listed on: 07/11/2013

Coldwell Banker Realty

Co-Listed By

Bassem Fattah

Coldwell Banker Realty License #00909688

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1966

Lot Details

  • 0.37 Acre Lot
  • Two or More Common Walls

Home Design

  • Property Attached

Interior Spaces

  • 12,428 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 3 Bathrooms

Parking

  • 23 Parking Spaces
  • Parking Available
  • Assigned Parking

Listing and Financial Details

  • Tax Lot 30
  • Tax Tract Number 2111
  • Assessor Parcel Number 5501019024

Community Details

Overview

  • No Home Owners Association
  • 24 Units

Building Details

  • 24 Leased Units
  • Rent Control
  • Electric Expense $22,905
  • Gardener Expense $1,950
  • Insurance Expense $4,547
  • Maintenance Expense $13,193
  • Other Expense $19,914
  • Pest Control $1,376
  • Supplies Expense $68
  • Trash Expense $2,029
  • New Taxes Expense $37,500
  • Gross Income $22,951
  • Net Operating Income $171,719

Property Details

Home Type

Multi-Family

Year Built

Built in 1966

Lot Details

0

Listing Details

  • Assessments: Yes
  • CapRate: 5.72
  • Other Phone Description: Bassem
  • Other Phone Number: 818-205-2021
  • Property Attached: Yes
  • Supplies Expense: 68.00
  • View: No
  • Zoning: LAR3
  • Property Type: Residential Income
  • Gardener Expense: 1950.00
  • Parcel Number: 5501019024
  • Year Built: 1966
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Price Per Square Foot: 230.93

Exterior Features

  • Pool Private: No
  • Spa: No

Garage/Parking

  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 23.00

Utilities

  • Utilities: Sewer Available
  • Laundry: Yes
  • Laundry Features: Individual Room
  • Pest Control Expense: 1376.00
  • Trash Expense: 2029.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Community Features: Curbs, Sidewalks

Lot Info

  • Lot Features: Lot 10000-19999 Sqft
  • Lot Size Sq Ft: 15973.00
  • Lot Size Acres: 0.3670

Multi Family

  • Electric Expense: 22905.00
  • Gross Income: 22951.00
  • Gross Multiplier: 10.89
  • Gross Scheduled Income: 275417.00
  • Insurance Expense: 4547.00
  • Lot Size Area: 15973.0000 Square Feet
  • Maintenance Expense: 13193.00
  • Net Operating Income: 171719.00
  • Number Of Units Leased: 24
  • Number Of Units Total: 24
  • Operating Expense: 89927.00
  • Operating Expense Percent: 32.65
  • Other Expense: 19914.00
  • Other Expense Description: Misc
  • Rent Control: Yes
  • Total Actual Rent: 22735.00
  • Vacancy Allowance: 13771
  • Vacancy Allowance Rate: 5.00

Tax Info

  • New Taxes Expense: 37500.00
  • Tax Lot: 30
  • Tax Tract Number: 2111
  • Tax Year: 2012

Range of Values:

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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
10/10/2013 10/10/13 Sold $2,870,000 -10.3% $231 / Sq Ft
08/06/2013 08/06/13 Pending -- -- --
07/11/2013 07/11/13 For Sale $3,200,000 -- $257 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • B

    Seller's Agent in 2013

    Beverly Rutkin

    Coldwell Banker Realty

    (818) 995-2424

    Beverly Rutkin
    Section Image
  • Bassem Fattah

    Seller Co-Listing Agent in 2013

    Bassem Fattah

    Coldwell Banker Realty

    (818) 269-5227

    56 Total Sales

    Bassem Fattah
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SR13107560

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Los Angeles 90004 Westlake

220 S Commonwealth Ave, Los Angeles, CA

This home is located at 220 S Commonwealth Ave, Los Angeles, CA 90004 since 11 July 2013. This property was built in 1966. 220 S Commonwealth Ave is a home located in Los Angeles County with nearby schools including Commonwealth Avenue Elementary School, Virgil Middle School, and Academic Leadership Community Miguel Contreras Learning Complex.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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