Seller's Agent in 2022
Aaron Jacobson
Lyon Stahl Investment Real Estate, Inc.
(310) 729-1559
1 in this area
31 Total Sales
240 Columbia Ave Los Angeles, CA 90026
Westlake NeighborhoodEstimated Value: $855,000 - $988,767
4
Beds
3
Baths
1,605
Sq Ft
$575/Sq Ft
Est. Value
Highlights
- Hiking Trails
- Park
- Whole House Fan
- Cooling System Mounted To A Wall/Window
- Laundry Room
About This Home
As of September 2022240 Columbia Ave is a tenant-ready duplex in the 90026 Zip Code of Los Angeles, allowing a buyer to live in one unit and rent the other to cover the mortgage. This duplex is located in the highly sought-after market in Westlake, with the opportunity to cash flow immediately. Built in 1923, this property is modeled after many of the New York-style "Row Homes" just steps from Downtown L.A.
The subject property has a great unit mix of (1) 2- Bed/1-Bath unit and (1) 2-Bed/2-Bath unit. This property operates at a 5.22% cap rate and a GRM of 13.87. All units have their own electric and gas meters and offer the opportunity to lock in a 30-year fixed residential loan on a cash-flowing asset in the heart of Los Angeles.
240 Columbia is minutes from Downtown L.A., Echo Park, Dodger Stadium, Koreatown, USC, and Silverlake. This neighborhood has shown growth in the rental market with rising rates year over year
Last Agent to Sell the Property
Lyon Stahl Investment Real Estate, Inc. License #02100737 Listed on: 07/21/2022
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $9,982
Year Built
- Built in 1923
Lot Details
- 1,832 Sq Ft Lot
- 1 Common Wall
- Density is up to 1 Unit/Acre
Home Design
- 1,605 Sq Ft Home
- Property Attached
Bedrooms and Bathrooms
- 4 Bedrooms
- 3 Bathrooms
Laundry
- Laundry Room
- Laundry Located Outside
Utilities
- Cooling System Mounted To A Wall/Window
- Whole House Fan
Additional Features
- Exterior Lighting
- Urban Location
Listing and Financial Details
- Tax Lot 1
- Tax Tract Number 5941
- Assessor Parcel Number 5153016001
Community Details
Overview
- 2 Units
Recreation
- Park
- Dog Park
- Hiking Trails
- Bike Trail
Building Details
- Rent Control
- 2 Separate Electric Meters
- 2 Separate Gas Meters
- 1 Separate Water Meter
- Operating Expense $14,190
- Gross Income $57,480
- Net Operating Income $41,565
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Jul 21, 2022
Closed on
Aug 18, 2022
Sold by
Casamigos Capital Llc
Bought by
Lawal Luke
Seller's Agent
Aaron Jacobson
Lyon Stahl Investment Real Estate, Inc.
List Price
$799,000
Sold Price
$800,000
Premium/Discount to List
$1,000
0.13%
Views
5
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$89,149
Avg. Annual Appreciation
5.02%
Original Mortgage
$770,781
Outstanding Balance
$737,707
Interest Rate
5.3%
Mortgage Type
FHA
Estimated Equity
$184,485
Purchase Details
Listed on
Sep 24, 2016
Closed on
Oct 4, 2016
Sold by
Gb Inland Properties Llc
Bought by
Noonan Cory Michael
Seller's Agent
Alaura Clennon
Griffin Real Estate, Inc.
Buyer's Agent
John Huang
Jaune Group
List Price
$429,990
Sold Price
$435,000
Premium/Discount to List
$5,010
1.17%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
10.94%
Original Mortgage
$398,351
Interest Rate
3.5%
Mortgage Type
New Conventional
Purchase Details
Closed on
Mar 24, 2016
Sold by
Solis Miguel
Bought by
Gb Inland Properties Llc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$6,000,000
Interest Rate
3.73%
Mortgage Type
Credit Line Revolving
Purchase Details
Closed on
Mar 11, 2003
Sold by
Solis Miguel
Bought by
Solis Miguel and Mejia Lubia Estela
Purchase Details
Closed on
Jun 6, 2001
Sold by
Hud
Bought by
Solis Miguel
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$162,552
Interest Rate
7.09%
Mortgage Type
FHA
Purchase Details
Closed on
Oct 6, 1999
Sold by
White Mountains Services Corp
Bought by
Hud
Purchase Details
Closed on
Jun 2, 1998
Sold by
Gonzalez Jose T
Bought by
Rodas Raul F and Rodas Thelma N
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$179,193
Interest Rate
7.1%
Mortgage Type
FHA
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Lawal Luke | $800,000 | -- | |
| Noonan Cory Michael | $435,000 | Title 365 Riverside | |
| Gb Inland Properties Llc | $215,000 | Accommodation | |
| Solis Miguel | -- | -- | |
| Solis Miguel | $160,000 | Investors Title | |
| Hud | -- | -- | |
| White Mountains Services Corp | $191,951 | -- | |
| Rodas Raul F | $185,000 | Old Republic Title Company |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Lawal Luke | $65,881 | |
| Closed | Lawal Luke | $41,266 | |
| Open | Lawal Luke | $770,781 | |
| Previous Owner | Noonan Cory Michael | $388,225 | |
| Previous Owner | Noonan Cory Michael | $398,351 | |
| Previous Owner | Gb Inland Properties Llc | $6,000,000 | |
| Previous Owner | Mejia Lubia Estela | $30,000 | |
| Previous Owner | Solis Miguel | $325,000 | |
| Previous Owner | Solis Miguel | $250,000 | |
| Previous Owner | Solis Miguel | $167,702 | |
| Previous Owner | Solis Miguel | $162,552 | |
| Previous Owner | Rodas Raul F | $179,193 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 09/13/2022 09/13/22 | Sold | $800,000 | +0.1% | $498 / Sq Ft |
| 07/22/2022 07/22/22 | For Sale | $799,000 | -0.1% | $498 / Sq Ft |
| 07/21/2022 07/21/22 | Off Market | $800,000 | -- | -- |
| 07/21/2022 07/21/22 | For Sale | $799,000 | -0.1% | $498 / Sq Ft |
| 07/20/2022 07/20/22 | Off Market | $800,000 | -- | -- |
| 10/31/2016 10/31/16 | Sold | $435,000 | 0.0% | $272 / Sq Ft |
| 10/03/2016 10/03/16 | Price Changed | $435,000 | +1.2% | $272 / Sq Ft |
| 10/02/2016 10/02/16 | Pending | -- | -- | -- |
| 09/24/2016 09/24/16 | For Sale | $429,990 | -- | $269 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
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 | $9,982 | $832,320 | $572,220 | $260,100 |
| 2024 | $9,982 | $816,000 | $561,000 | $255,000 |
| 2023 | $10,591 | $800,000 | $550,000 | $250,000 |
| 2022 | $5,740 | $475,732 | $309,500 | $166,232 |
| 2021 | $5,661 | $466,405 | $303,432 | $162,973 |
| 2019 | $5,492 | $452,573 | $294,433 | $158,140 |
| 2018 | $5,488 | $443,700 | $288,660 | $155,040 |
| 2016 | $2,537 | $199,656 | $49,909 | $149,747 |
| 2015 | $2,502 | $196,658 | $49,160 | $147,498 |
| 2014 | $2,523 | $192,807 | $48,198 | $144,609 |
Source: Public Records
Agents Affiliated with this Home
-
-
Seller Co-Listing Agent in 2022
Cameron Samimi
Lyon Stahl Investment Real Estate, Inc.
(310) 259-7556
2 in this area
182 Total Sales
-
Seller's Agent in 2016
Alaura Clennon
Griffin Real Estate, Inc.
(949) 940-5143
39 Total Sales
-
Buyer's Agent in 2016
John Huang
Jaune Group
(323) 230-3484
15 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SB22143948
APN: 5153-016-001
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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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