$2,050,000
SOLD DEC 1, 2016
39 Beds
46 Baths
27,170 Sq Ft
0.36 Acres

Recently Sold

$75 Per Sq Ft

5% Below List Price

67 Days on Market

About This Home

As of October 2021

Unique DEVELOPMENT (un-entitled) opportunity in trendy KOREATOWN and Echo Park adjacent Westlake District. Located between Wilshire and Beverly Blvd, just east of Rampart Str; quiet residential area that is rapidly gentrifying. Architectural drawings, rendering go with property; Modern and light proposed structure with total of 26 units: 45 parking spaces at grade level (no subterranean costs). 13U- 2 bed and 2-2.5 baths, and 13U -1bed and 1-1.5 baths. Town homes are more rare and normally rent approx. 7-10% higher than regular apartments. 2 of the 26 units designated very low income. Several new Mixed Use projects in the works within 0.5 mile from this site with over 20,000 sf of brand new hip retail, services and trendy restaurant spaces on Wilshire at Virgil, Hoover and Alvarado Blvds. Walk Score 90. Currently SF home, NO RELOCATION TO PAY! SUPERB VIEWS. Building across street completed 2016 with excellent rent comps. SOIL, PHASE I, SURVEY completed; available with offer.

Last Agent to Sell the Property

Tannaz Rahbar

Real Estate Source, Inc. License #00951232 Listed on: 05/15/2016

Real Estate Source, Inc.

Last Buyer's Agent

Valentina Prostakova

Keller Williams Realty Calabasas License #01319015

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $24,025

Year Built

  • Built in 1923

Lot Details

  • 0.36 Acre Lot
  • Tear Down

Parking

  • 45 Parking Spaces

Interior Spaces

  • 27,170 Sq Ft Home
  • 3-Story Property

Bedrooms and Bathrooms

  • 39 Bedrooms
  • 46 Bathrooms

Community Details

  • 26 Units

Listing and Financial Details

  • Assessor Parcel Number 5154-011-021

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$24,025

Year Built

Built in 1923

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Advertising Remarks: Unique DEVELOPMENT opportunity in trendy KOREATOWN and Echo Park adjacent Westlake District. Located between Wilshireand Beverly Blvd, just east of Rampart Str; quiet residential area that is rapidly gentrifying. Architectural drawings, rendering go with property; Modernand light proposed structure with total of 26 units: 45 parking spaces at grade level (no sub terranean costs). 13U- 2 bed and 2-2.5 baths, and 13U -1bed and 1-1.5 baths. Town homes are more rare and normally rent approx. 7-10% higher than regular apartments. 2 of the 26 units designated verylow income. Several new Mixed Use projects in the works within 0.5 mile from this site with over 20,000 sf of brand new hip retail, services and trendyrestaurant spaces on Wilshire at Virgil, Hoover and Alvarado Blvds. Walk Score 90. Currently SF home, NO RELOCATION TO PAY! SUPERB VIEWS. Building across street completed 2016 with excellent rent comps. SOIL, PHASE I, SURVEY completed; available with offer.
  • Living Area: 27170
  • Property Condition: Tear Down
  • Stories: 3
  • Year Built: 1923
  • Number Of Photos: 1
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 39
  • Dining Room: 0
  • Family Room: 0
  • Total Bathrooms: 46.00
  • Den: 0
  • Price Per S Q F T: 79.13

Exterior Features

  • Tennis Court Y/N: No
  • Pool: No
  • View: No

Garage/Parking

  • Total Parking: 45

Lot Info

  • Assessor Parcel Number: 5154-011-021
  • Geocode Override: No
  • Lot Size Area: 15731

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109
  • Gross Rent Multiplier: 15.00
  • Number Of Units: 26
  • Rent Control: 0%
  • Total Annual Expense: 212738
  • Type Of Units: TOWNHOMES
  • Vacancy Rate: 100%

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Aug 8, 2021
Closed on
Oct 11, 2021
Sold by
Iridium Llc
Bought by
Valley Residence Llc
Seller's Agent
Fred Doctorovich
AFD Realty, Inc.
Buyer's Agent
Shawn Raoufpour
Gold Realty
List Price
$2,100,000
Sold Price
$1,900,000
Premium/Discount to List
-$200,000
-9.52%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
20.64%

Purchase Details

Closed on
Dec 29, 2020
Sold by
Valley Project Llc
Bought by
Iridium Llc

Purchase Details

Closed on
Sep 15, 2016
Sold by
2227 Valley St Llc
Bought by
Valley Project Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,230,000
Interest Rate
3.47%
Mortgage Type
Commercial

Purchase Details

Listed on
Jan 6, 2016
Closed on
Apr 6, 2016
Sold by
Radix
Bought by
Aftalion Camill and Assil Angel
Seller's Agent
Sharon Oh
Redpoint Realty
Buyer's Agent
Tannaz Rahbar
Real Estate Source, Inc.
List Price
$1,570,000
Sold Price
$1,525,000
Premium/Discount to List
-$45,000
-2.87%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
10.62%

Purchase Details

Listed on
Jan 24, 2014
Closed on
Dec 31, 2014
Sold by
Kim John Kwang Keun
Bought by
Radix
Seller's Agent
Steven Lee
JD Cooper
Buyer's Agent
Sharon Oh
Redpoint Realty
List Price
$1,089,000
Sold Price
$1,050,000
Premium/Discount to List
-$39,000
-3.58%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
36.48%

Purchase Details

Closed on
Feb 25, 2004
Sold by
Kim John Kwang Keun
Bought by
Kim John Kwang Keun

Purchase Details

Closed on
Oct 7, 2003
Sold by
Kim Kyung Sook
Bought by
Kim John Kwang Keun

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$189,000
Interest Rate
6.4%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
May 5, 1999
Sold by
Lee Du Sun and Lee Mi Hui
Bought by
Kim John Kwang Keun

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$184,000
Interest Rate
2.9%

Purchase Details

Closed on
Feb 26, 1996
Sold by
Hanil Bank
Bought by
Lee Du Sun and Lee Mi Hui

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$162,000
Interest Rate
7.84%

Purchase Details

Closed on
Aug 2, 1995
Sold by
Oh Bong Woon
Bought by
Hanil Bank
Source: Public Records

Range of Values:

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Average Value
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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 Type Sale Price Title Company
Grant Deed $1,900,000 Stewart Title
Trustee Deed $411,213 Accommodation
Grant Deed $2,050,000 Title365
Grant Deed -- Title 365
Grant Deed $1,525,000 None Available
Grant Deed $1,050,000 Provident Title Company
Interfamily Deed Transfer -- --
Interfamily Deed Transfer -- Ticor Title Co
Individual Deed $230,000 Chicago Title
Grant Deed $180,000 North American Title Co
Trustee Deed $141,299 American Title Ins Co
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Previous Owner $1,000,000 Commercial
Previous Owner $300,000 Commercial
Previous Owner $1,025,000 Commercial
Previous Owner $1,025,000 Commercial
Previous Owner $1,230,000 Commercial
Previous Owner $167,706 New Conventional
Previous Owner $189,000 Purchase Money Mortgage
Previous Owner $193,000 Unknown
Previous Owner $184,000 No Value Available
Previous Owner $210,000 Unknown
Previous Owner $162,000 No Value Available
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/14/2025 07/14/25 Price Changed $3,995,000 -6.0% --
06/25/2025 06/25/25 For Sale $4,250,000 0.0% --
06/06/2025 06/06/25 Off Market $4,250,000 -- --
03/25/2025 03/25/25 For Sale $4,250,000 +123.7% --
10/22/2021 10/22/21 Sold $1,900,000 -9.5% $611 / Sq Ft
09/17/2021 09/17/21 Pending -- -- --
09/10/2021 09/10/21 For Sale $2,100,000 0.0% $675 / Sq Ft
08/11/2021 08/11/21 Pending -- -- --
08/08/2021 08/08/21 For Sale $2,100,000 +2.4% $675 / Sq Ft
12/01/2016 12/01/16 Sold $2,050,000 -4.7% $75 / Sq Ft
07/21/2016 07/21/16 Pending -- -- --
05/15/2016 05/15/16 For Sale $2,150,000 +41.0% $79 / Sq Ft
04/11/2016 04/11/16 Sold $1,525,000 -2.9% $490 / Sq Ft
02/22/2016 02/22/16 Pending -- -- --
01/06/2016 01/06/16 For Sale $1,570,000 +49.5% $505 / Sq Ft
01/29/2015 01/29/15 Sold $1,050,000 -3.6% $338 / Sq Ft
11/24/2014 11/24/14 Pending -- -- --
10/20/2014 10/20/14 For Sale $1,089,000 0.0% $350 / Sq Ft
10/14/2014 10/14/14 Pending -- -- --
10/01/2014 10/01/14 Price Changed $1,089,000 -0.1% $350 / Sq Ft
10/01/2014 10/01/14 Price Changed $1,090,000 -9.2% $350 / Sq Ft
07/03/2014 07/03/14 For Sale $1,200,000 0.0% $386 / Sq Ft
07/03/2014 07/03/14 Price Changed $1,200,000 +14.3% $386 / Sq Ft
06/30/2014 06/30/14 Off Market $1,050,000 -- --
01/24/2014 01/24/14 For Sale $1,300,000 -- $418 / 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 $24,025 $2,016,295 $2,016,295 --
2024 $24,025 $1,976,760 $1,976,760 --
2023 $23,558 $1,938,000 $1,938,000 $0
2022 $22,460 $1,900,000 $1,900,000 $0
2021 $26,143 $2,198,013 $2,198,013 $0
2020 $26,720 $2,175,474 $1,582,048 $593,426
2019 $25,657 $2,132,819 $1,551,028 $581,791
2018 $25,427 $2,091,000 $1,520,616 $570,384
2016 $13,076 $1,066,012 $913,725 $152,287
2015 $4,796 $378,270 $260,878 $117,392
2014 $4,823 $370,861 $255,768 $115,093
Source: Public Records

Agents Affiliated with this Home

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Map

Source: The MLS

MLS Number: 16-125454

The MLS

APN: 5154-011-021