2221 Addison Way Los Angeles, CA 90041
Eagle Rock Neighborhood
8
Beds
8
Baths
5,144
Sq Ft
0.29
Acres
About This Home
As of May 20258 Unit income property in highly desirable Eagle Rock - a rare find in a market with extremely limited inventory. All units are 1 Bedroom 1 Bath. Four blocks from Colorado Blvd. Close to Occidental College. Six garages currently being used as storage for tenants. 6 uncovered parking spaces. All units separately metered for gas and electricity and all units have separate water heaters. Foundation bolting completed in 2013. Indicative of the strong rental demand in the local area, this property is fully leased. Upon unit turnover, this property presents an enticing 32% potential upside in rental income, making it a compelling opportunity for growth-minded investors. CONTACT LISTING AGENT FOR FULL OFFERING MEMORANDUM.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $8,363
Year Built
- Built in 1925
Lot Details
- 0.29 Acre Lot
Home Design
- Raised Foundation
- Tar and Gravel Roof
Interior Spaces
- 5,144 Sq Ft Home
- 2-Story Property
- Fire and Smoke Detector
Bedrooms and Bathrooms
- 8 Bedrooms
- 8 Bathrooms
Parking
- 6 Car Garage
- 6 Open Parking Spaces
Utilities
- Window Unit Cooling System
- Heating System Mounted To A Wall or Window
- Water Heater
Listing and Financial Details
- Tenant pays for gas, electricity
- The owner pays for water
- Assessor Parcel Number 5685-005-015
Community Details
Overview
- 5 Buildings
- 8 Units
Building Details
- Rent Control
- Vacancy Allowance $4,344
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Dec 13, 2024
Closed on
Apr 9, 2025
Sold by
Lydia G Perez Trust and Perez Lydia G
Bought by
Addison Way Partners Llc
Seller's Agent
Gabriel Rudner
Aegis Management, Inc.
Buyer's Agent
Marcus McInerney
Reservoir Partners
List Price
$1,995,000
Sold Price
$1,830,000
Premium/Discount to List
-$165,000
-8.27%
Total Days on Market
225
Views
10
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
-74.47%
Original Mortgage
$183,000
Outstanding Balance
$183,000
Interest Rate
6.67%
Estimated Equity
$1,526,257
Purchase Details
Closed on
Apr 15, 2009
Sold by
Perez Lydia G
Bought by
Perez Lydia G and The Lydia G Perez Trust
Purchase Details
Closed on
Oct 25, 2004
Sold by
Perez Lydia G and Benway Ronald Carl
Bought by
Perez Lydia G
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$358,000
Interest Rate
5.37%
Mortgage Type
Commercial
Purchase Details
Closed on
Oct 23, 2000
Sold by
Grobel Roger C
Bought by
Perez Lydia G
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$355,000
Interest Rate
7.9%
Mortgage Type
Seller Take Back
Map
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Grant Deed | $1,830,000 | Old Republic Title Company | |
| Interfamily Deed Transfer | -- | None Available | |
| Interfamily Deed Transfer | -- | Stewart Title | |
| Grant Deed | $400,000 | Stewart Title |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $183,000 | No Value Available | |
| Open | $2,539,000 | Credit Line Revolving | |
| Previous Owner | $400,000 | Commercial | |
| Previous Owner | $356,000 | Construction | |
| Previous Owner | $358,000 | Commercial | |
| Previous Owner | $355,000 | Seller Take Back |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 05/01/2025 05/01/25 | Sold | $1,830,000 | -8.3% | $356 / Sq Ft |
| 12/20/2024 12/20/24 | Pending | -- | -- | -- |
| 12/13/2024 12/13/24 | For Sale | $1,995,000 | +9.0% | $388 / Sq Ft |
| 09/13/2024 09/13/24 | Off Market | $1,830,000 | -- | -- |
| 07/08/2024 07/08/24 | Price Changed | $1,995,000 | -5.0% | $388 / Sq Ft |
| 05/09/2024 05/09/24 | For Sale | $2,100,000 | -- | $408 / 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 |
|---|---|---|---|---|
| 2024 | $8,363 | $590,902 | $295,451 | $295,451 |
| 2023 | $8,223 | $579,316 | $289,658 | $289,658 |
| 2022 | $7,884 | $567,958 | $283,979 | $283,979 |
| 2021 | $7,769 | $556,822 | $278,411 | $278,411 |
| 2020 | $7,833 | $551,114 | $275,557 | $275,557 |
| 2019 | $7,564 | $540,308 | $270,154 | $270,154 |
| 2018 | $7,323 | $529,714 | $264,857 | $264,857 |
| 2016 | $6,929 | $509,146 | $254,573 | $254,573 |
| 2015 | $6,839 | $501,500 | $250,750 | $250,750 |
| 2014 | $6,914 | $491,678 | $245,839 | $245,839 |
Source: Public Records
Source: The MLS
MLS Number: 24-390355
APN: 5685-005-015
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© 2025 The MLS™ - Combined L.A. Westside MLS (CLAW). All rights reserved. Based on information from The MLS™ - Combined L.A. Westside MLS (CLAW). 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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