UNDER CONTRACT
$60K PRICE DROP
2620 Idell St Los Angeles, CA 90065
Cypress Park NeighborhoodEstimated payment $5,766/month
Total Views
4,538
4
Beds
4
Baths
2,208
Sq Ft
$414
Price per Sq Ft
Highlights
- Laundry Room
- Landscaped
- 4-minute walk to River Garden Park
- Abraham Lincoln High School Rated A
About This Home
2620 Idell Street is a value-add, 4-unit investment located in an Opportunity Zone within the Cypress Park neighborhood of Los Angeles. Situated on an oversized 7,080 SF lot, 2620 Idell Street is a 2,208 SF apartment building comprised of four one-bedroom/one-bathroom units with below market rents. Zoned LARD1.5 and located within a TOC Tier 3 zone, the large lot is underutilized and presents an opportunity to add additional units in the rear of the property.
This property is ideally located near the entrance to both the 110 Freeway and the 5 Freeway, giving tenants quick access to all Greater Los Angeles. The central location in Cypress Park allows tenants to easily enjoy many of the main attractions of Los Angeles such as Dodger Stadium, Downtown Los Angeles, Echo Park, the University of Southern California, and the Westside of Los Angeles.
2620 Idell Street offers an amazing opportunity for an astute investor or owner-user to implement a value-add program to capture the rental upside. Additionally, being within an Opportunity Zone and a TOC Tier 3 zone of Los Angeles, 2620 Idell Street offers an investor the ability to build additional units and take advantage of the Opportunity Zone tax advantages and TOC density bonuses. Located in one of the most up-and-coming neighborhoods of Los Angeles with incredibly low inventory available, 2620 Idell Street is positioned well to capture the long-term appreciation and transformation that is underway in the neighborhood.
Listing Agent
Lyon Stahl Investment Real Estate, Inc. Brokerage Phone: 909-618-2352 License #01971639 Listed on: 09/16/2024
Co-Listing Agent
Lyon Stahl Investment Real Estate, Inc. Brokerage Phone: 909-618-2352 License #02023847
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $8,374
Year Built
- Built in 1917
Lot Details
- 7,080 Sq Ft Lot
- Two or More Common Walls
- Landscaped
Parking
- 4 Car Garage
Home Design
- Quadruplex
Interior Spaces
- 2,208 Sq Ft Home
- 2-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 4 Bedrooms
- 4 Bathrooms
Utilities
- Septic Type Unknown
Listing and Financial Details
- Tax Lot 14
- Tax Tract Number 4
- Assessor Parcel Number 5446012014
Community Details
Overview
- 2 Buildings
- 4 Units
Amenities
- Laundry Facilities
Building Details
- Rent Control
- 4 Separate Electric Meters
- 4 Separate Gas Meters
- 1 Separate Water Meter
- Operating Expense $18,585
- Gross Income $60,540
- Net Operating Income $38,928
Map
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Home Values in the Area
Average Home Value in this Area
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 | $8,374 | $655,942 | $505,627 | $150,315 |
| 2023 | $14,388 | $1,157,700 | $872,100 | $285,600 |
| 2022 | $8,194 | $630,473 | $485,994 | $144,479 |
| 2021 | $8,091 | $618,112 | $476,465 | $141,647 |
| 2020 | $8,164 | $611,775 | $471,580 | $140,195 |
| 2019 | $7,863 | $599,781 | $462,334 | $137,447 |
| 2018 | $7,759 | $588,021 | $453,269 | $134,752 |
| 2016 | $7,377 | $565,189 | $435,669 | $129,520 |
| 2015 | $7,276 | $556,700 | $429,125 | $127,575 |
| 2014 | $7,321 | $545,796 | $420,720 | $125,076 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 11/25/2024 11/25/24 | Price Changed | $915,000 | -6.2% | $414 / Sq Ft |
| 09/16/2024 09/16/24 | For Sale | $975,000 | -- | $442 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Grant Deed | -- | Roitman Phillip | |
| Interfamily Deed Transfer | -- | First American Title Ins Co | |
| Interfamily Deed Transfer | -- | First American Title Ins Co | |
| Interfamily Deed Transfer | -- | None Available | |
| Grant Deed | $480,000 | Fidelity National Title Comp | |
| Interfamily Deed Transfer | -- | First American Title Co | |
| Grant Deed | $320,000 | First American Title Co | |
| Interfamily Deed Transfer | -- | First American Title Co | |
| Interfamily Deed Transfer | -- | Fidelity Van Nuys | |
| Grant Deed | $200,000 | Investors Title Company | |
| Grant Deed | $159,500 | First American Title Ins Co | |
| Trustee Deed | $180,000 | American Title | |
| Interfamily Deed Transfer | -- | Fidelity National Title Co | |
| Grant Deed | $223,000 | Fidelity National Title Co | |
| Interfamily Deed Transfer | -- | Fidelity National Title | |
| Grant Deed | $125,000 | Equity Title | |
| Grant Deed | $230,000 | Equity Title |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $599,760 | New Conventional | |
| Previous Owner | $500,000 | Negative Amortization | |
| Previous Owner | $384,000 | New Conventional | |
| Previous Owner | $256,000 | Purchase Money Mortgage | |
| Previous Owner | $100,000 | Credit Line Revolving | |
| Previous Owner | $150,000 | No Value Available | |
| Previous Owner | $171,400 | No Value Available | |
| Previous Owner | $200,000 | No Value Available | |
| Previous Owner | $195,000 | No Value Available | |
| Previous Owner | $195,500 | No Value Available | |
| Closed | $30,000 | No Value Available | |
| Closed | $64,000 | No Value Available | |
| Closed | $48,000 | No Value Available |
Source: Public Records
Similar Homes in the area
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SB24191224
APN: 5446-012-014
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.
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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