NOT LISTED FOR SALE

2497 Silver Ridge Ave Los Angeles, CA 90039

Estimated Value: $1,382,000 - $1,754,000

3 Beds
3 Baths
1,329 Sq Ft
$1,154/Sq Ft Est. Value

Last Sold August 25, 2016

Last sale price $935,000 $704 Per Sq Ft

Est. 64% increase in value since last sale

Current estimated payment $9,436/month

55 Days on Market

Highlights

  • Reservoir in Community
  • Cooling System Mounted To A Wall/Window
  • Central Heating and Cooling System
  • John Marshall Senior High Rated A
  • Laundry Room

About This Home

As of August 2016

Restored Spanish hillside prop w/3 view units in quiet, desirable Silver Lake neighborhood. Great income opportunity-perfect for cash-flow minded investor. Large modern 2+1 unit w/private balcony & sweeping views of Hollywood Sign. Well upgraded modern studio unit w/views, private patio & gardens. 1+1 unit w/own separate address w/views. Newer windows, electrical, plumbing, flooring & many other upgrades. Easy to rent prop close to hip restaurants, shopping, freeways & more.

Last Agent to Sell the Property

Paul Shin

No Firm Affiliation License #01810827 Listed on: 05/20/2016

Last Buyer's Agent

NoEmail NoEmail

NONMEMBER MRML

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $12,980

Year Built

  • Built in 1925

Lot Details

  • 4,496 Sq Ft Lot
  • 1 Common Wall
  • Density is 2-5 Units/Acre

Parking

  • 2 Car Garage

Home Design

  • 1,329 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 3 Bathrooms

Laundry

  • Laundry Room

Utilities

  • Cooling System Mounted To A Wall/Window
  • Central Heating and Cooling System
  • Heating System Uses Natural Gas
  • Wall Furnace

Listing and Financial Details

  • Tax Lot 5
  • Tax Tract Number 6599
  • Assessor Parcel Number 5440014007

Community Details

Overview

  • 2 Units
  • Reservoir in Community

Amenities

  • Laundry Facilities

Building Details

  • Rent Control
  • 3 Separate Electric Meters
  • 2 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $900
  • Gardener Expense $1,020
  • Insurance Expense $700
  • Water Sewer Expense $2,340
  • New Taxes Expense $11,987
  • Gross Income $5,900
  • Net Operating Income $53,853

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$12,980

Year Built

Built in 1925

Lot Details

0

Parking

2

Listing Details

  • Property Attached: Yes
  • Water Sewer Expenses: 2340.00
  • Property Type: Residential Income
  • Gardener Expense: 1020.00
  • Parcel Number: 5440014007
  • Year Built: 1925
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 1 Common Wall
  • Levels: One
  • Price Per Square Foot: 703.54

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 2.00
  • Total Parking Spaces: 4.00

Utilities

  • Utilities: Sewer Available
  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Central, Natural Gas, Wall Furnace
  • Laundry Features: Community
  • Water Source: Public
  • Cooling: Central Air, Wall/Window Unit(s)
  • Cooling: Yes

Lot Info

  • Land Lease: No
  • Lot Features: 2-5 Units/Acre
  • Lot Size Sq Ft: 4496.00
  • Price Per Lot Square Foot: 207.96

Multi Family

  • Electric Expense: 900.00
  • Gross Income: 5900.00
  • Gross Scheduled Income: 70800.00
  • Insurance Expense: 700.00
  • Net Operating Income: 53853.00
  • Number Of Separate Electric Meters: 3
  • Number Of Separate Gas Meters: 2
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 2
  • Operating Expense: 16947.00
  • Rent Control: Yes
  • Waterfront Features: Reservoir in Community

Tax Info

  • New Taxes Expense: 11987.00
  • Tax Lot: 5
  • Tax Tract Number: 6599

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 20, 2016
Closed on
Aug 16, 2016
Sold by
Shin Crystal J and Shin June S
Bought by
Shell Thomas and King Michele
Seller's Agent
Paul Shin
No Firm Affiliation
Buyer's Agent
NoEmail NoEmail
NONMEMBER MRML
List Price
$969,000
Sold Price
$935,000
Premium/Discount to List
-$34,000
-3.51%
Current Estimated Value
$1,533,077

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$598,077
Avg. Annual Appreciation
4.88%
Original Mortgage
$685,000
Outstanding Balance
$548,458
Interest Rate
3.42%
Mortgage Type
New Conventional
Estimated Equity
$887,708

Purchase Details

Closed on
Mar 26, 2007
Sold by
Shin Paul H
Bought by
Shin June S

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$620,000
Interest Rate
6.12%
Mortgage Type
New Conventional

Purchase Details

Closed on
Mar 13, 2007
Sold by
Crocker David J
Bought by
Shin Crystal J and Shin June S

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$620,000
Interest Rate
6.12%
Mortgage Type
New Conventional

Purchase Details

Closed on
Aug 20, 2004
Sold by
Briles Adam and Ledesma Michael
Bought by
Crocker David J

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$547,685
Interest Rate
4.87%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Apr 24, 2003
Sold by
Ledesma Jeanette Boyd
Bought by
Ledesma Michael

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$400,000
Interest Rate
5.72%

Purchase Details

Closed on
Mar 28, 2003
Sold by
Leung Wing Kwan L
Bought by
Briles Adam and Ledesma Michael

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$400,000
Interest Rate
5.72%

Purchase Details

Closed on
Jan 24, 1994
Sold by
Coast Federal Bank Fsb
Bought by
Leung Wing Kwan L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$117,000
Interest Rate
6.98%

Purchase Details

Closed on
Oct 15, 1993
Sold by
Coast Fed Services
Bought by
Coast Federal Bank Fsb
Source: Public Records

Range of Values:

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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 Buyer Sale Price Title Company
Shell Thomas $935,000 Provident Title Company
Shin June S -- Equity Title Company
Shin Crystal J $869,000 Equity Title Company
Crocker David J $732,500 Equity Title Company
Ledesma Michael -- Equity Title Company
Briles Adam $510,000 Equity Title Company
Leung Wing Kwan L $130,000 Continental Land Title
Coast Federal Bank Fsb $120,000 Continental Lawyers Title Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Shell Thomas $685,000
Previous Owner Shin Crystal J $130,000
Previous Owner Shin Crystal J $620,000
Previous Owner Crocker David J $80,000
Previous Owner Crocker David J $640,000
Previous Owner Crocker David J $547,685
Previous Owner Briles Adam $400,000
Previous Owner Leung Wing Kwan L $156,000
Previous Owner Leung Wing Kwan L $117,000
Closed Briles Adam $84,500
Closed Crocker David J $146,050
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/25/2016 08/25/16 Sold $935,000 -3.5% $704 / Sq Ft
07/14/2016 07/14/16 Pending -- -- --
05/20/2016 05/20/16 For Sale $969,000 -- $729 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

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 $12,980 $1,085,141 $812,407 $272,734
2024 $12,980 $1,063,865 $796,478 $267,387
2023 $12,727 $1,043,006 $780,861 $262,145
2022 $12,130 $1,022,555 $765,550 $257,005
2021 $11,983 $1,002,506 $750,540 $251,966
2019 $11,622 $972,774 $728,280 $244,494
2018 $11,563 $953,700 $714,000 $239,700
2016 $9,668 $800,000 $640,000 $160,000
2015 $9,312 $770,000 $616,000 $154,000
2014 $8,898 $718,000 $574,400 $143,600
Source: Public Records

Agents Affiliated with this Home

  • P

    Seller's Agent in 2016

    Paul Shin

    No Firm Affiliation

  • N

    Buyer's Agent in 2016

    NoEmail NoEmail

    NONMEMBER MRML

    (646) 541-2551

    1 in this area

    5,810 Total Sales

    NoEmail NoEmail
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SR16109936

California Regional Multiple Listing Service (CRMLS)

APN: 5440-014-007

California Los Angeles County Los Angeles 90039

2497 Silver Ridge Ave, Los Angeles, CA

This home is located at 2497 Silver Ridge Ave, Los Angeles, CA 90039 since 20 May 2016 and is currently estimated at $1,533,077, approximately $1,153 per square foot. This property was built in 1925. 2497 Silver Ridge Ave is a home located in Los Angeles County with nearby schools including Allesandro Elementary, Irving STEAM Magnet School, and John Marshall Senior High.

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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