$7,050,000
SOLD JUL 31, 2012
7 Beds
8.5 Baths
8,184 Sq Ft
0.95 Acres

Recently Sold

$861 Per Sq Ft

6% Below List Price

111 Days on Market

Highlights

  • Ocean View
  • Detached Guest House
  • Home Theater
  • Franklin Avenue Elementary Rated A-
  • Wine Cellar
  • Heated In Ground Pool

About This Home

As of July 2012

This gated 1929 Spanish Colonial Revival was meticulously restored in 2004. A magnificent rotunda entrance is enveloped by a gracious living rm with a baronial fireplace, exquisite den with fireplace; banquet sized formal dining room, veranda with fireplace, 2 powder rooms, a large kitchen/ breakfast room and spacious service area. The sweeping staircase capped with a stained glass ceiling leads to a stunning master suite, 3 additional bedroom suites and a library/study. All baths are exquisitely remodeled, artfully blending the original 1920's style. The lower level has a large gym, wine vault, home theater, storage rooms and a spa style bath with steam/sauna and changing rm. City/ocean views, a private pool/spa with outdoor fireplace, a 1bedroom/2bath guest house, superb architectural details, and lushly landscaped park like grounds make this a truly special estate!

Last Agent to Sell the Property

Richard Cassese

Engel & Völkers License #00880995 Listed on: 02/10/2012

Co-Listed By

Raphael Barragan

Douglas Elliman License #01898434

Last Buyer's Agent

Carrie Berkman Lewis

Douglas Elliman License #01400262

Douglas Elliman

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $103,397

Year Built

  • Built in 1929

Lot Details

  • 0.95 Acre Lot
  • Gated Home
  • Property is zoned LARE11

Parking

  • 8 Car Attached Garage

Property Views

  • Ocean
  • City Lights

Home Design

  • Spanish Architecture

Interior Spaces

  • 8,184 Sq Ft Home
  • 3-Story Property
  • Wood Burning Fireplace
  • Gas Fireplace
  • Wine Cellar
  • Family Room with Fireplace
  • 6 Fireplaces
  • Living Room with Fireplace
  • Dining Room
  • Home Theater
  • Den with Fireplace
  • Library
  • Sauna
  • Home Gym
  • Center Hall
  • Alarm System
  • Laundry Room
  • Basement

Kitchen

  • Breakfast Area or Nook
  • Oven or Range
  • Freezer
  • Dishwasher
  • Disposal

Flooring

  • Wood
  • Carpet
  • Tile

Bedrooms and Bathrooms

  • 7 Bedrooms
  • Fireplace in Primary Bedroom
  • Powder Room
  • 8.5 Bathrooms

Outdoor Features

  • Heated In Ground Pool
  • Covered patio or porch

Additional Homes

  • Detached Guest House

Utilities

  • Central Heating and Cooling System
  • Sewer in Street

Listing and Financial Details

  • Assessor Parcel Number 5588-032-010

Home Details

Home Type

Single Family

Est. Annual Taxes

$103,397

Year Built

Built in 1929

Lot Details

0

Listing Details

  • Property Type: Residential
  • Property Sub Type: Single Family Residence
  • Style: Spanish
  • Street Number Display: Yes
  • Living Area: 8184
  • Planned Urban Dev: 0
  • Stories: 3
  • Year Built: 1929
  • Number Of Photos: 1
  • State Abbrv: CA
  • Special Features: None

Interior Features

  • Fireplace Rooms: Den, Family Room, Gas, Living Room, Master Bedroom, Patio, Wood Burning
  • Flooring: Carpet, Hardwood, Tile
  • Bedrooms: 7
  • Fireplaces: 6
  • Dining Room: 1
  • Family Room: 1
  • Laundry: Inside
  • Total Bathrooms: 8.50
  • Den: 1
  • Equipment: Alarm System, Dishwasher, Freezer, Garbage Disposal, Hood Fan, Range/Oven, Refrigerator
  • Fireplace: Yes
  • Price Per S Q F T: 916.42

Exterior Features

  • Tennis Court Y/N: No
  • Guest House: Detached
  • Pool Description: Heated, Private
  • Pool: Yes
  • Roof: Tile
  • Spa: Private
  • View: City Lights, Ocean
  • View: Yes

Garage/Parking

  • Covered Parking: 4
  • Parking Garage: Attached, Garage
  • Total Parking: 8

Utilities

  • Cooling: Central
  • Heating: Central
  • Security: Gated
  • Sewer: In Street

Lot Info

  • Special Zoning: Property Report
  • Horses: No
  • Assessor Parcel Number: 5588-032-010
  • Lot Size Area: 41400

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Feb 10, 2012
Closed on
Jun 25, 2012
Sold by
Duban Dennis and Duban Inverness I
Bought by
Morgan Shon and Morgan Allison Leigh
Seller's Agent
Richard Cassese
Engel & Völkers
Buyer's Agent
Carrie Berkman Lewis
Douglas Elliman
List Price
$7,500,000
Sold Price
$7,050,000
Premium/Discount to List
-$450,000
-6%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
1.82%
Original Mortgage
$5,000,000
Interest Rate
3.65%
Mortgage Type
New Conventional

Purchase Details

Closed on
Mar 24, 2003
Sold by
Stevens Cary D and Landa Sharon D
Bought by
Duban Dennis and Duban Inverness I
Source: Public Records

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Range of Values:

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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 $7,050,070 Equity Title
Grant Deed $3,625,000 American Title Co
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $2,038,200 New Conventional
Closed $2,219,000 New Conventional
Closed $5,000,000 New Conventional
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/16/2025 06/16/25 Price Changed $12,200,000 -7.6% $1,096 / Sq Ft
03/18/2025 03/18/25 Price Changed $13,200,000 -12.0% $1,186 / Sq Ft
01/30/2025 01/30/25 For Sale $14,995,000 +112.7% $1,347 / Sq Ft
07/31/2012 07/31/12 Sold $7,050,000 -6.0% $861 / Sq Ft
05/31/2012 05/31/12 Pending -- -- --
02/10/2012 02/10/12 For Sale $7,500,000 -- $916 / 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
2024 $103,397 $8,511,339 $6,700,418 $1,810,921
2023 $101,370 $8,344,451 $6,569,038 $1,775,413
2022 $96,626 $8,180,835 $6,440,234 $1,740,601
2021 $95,470 $8,020,427 $6,313,955 $1,706,472
2019 $92,593 $7,782,539 $6,126,681 $1,655,858
2018 $92,226 $7,629,941 $6,006,550 $1,623,391
2016 $88,248 $7,333,662 $5,773,309 $1,560,353
2015 $86,946 $7,223,505 $5,686,589 $1,536,916
2014 $87,174 $7,082,007 $5,575,197 $1,506,810
Source: Public Records

Agents Affiliated with this Home

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Map

Source: The MLS

MLS Number: 12-581461

The MLS

APN: 5588-032-010