Seller's Agent in 2022
Teresa Mack
Pacific Playa Realty
(323) 377-9379
1 in this area
111 Total Sales
2621 7th Ave Los Angeles, CA 90018
Jefferson Park NeighborhoodEstimated Value: $1,216,106 - $1,484,000
8
Beds
4
Baths
4,206
Sq Ft
$311/Sq Ft
Est. Value
Highlights
- Traditional Architecture
- 4 Car Garage
- East Facing Home
- Wood Flooring
- Floor Furnace
About This Home
As of May 2022This four unit quadruplex with 2 bedroom 1 bath units will be delivered with TWO UNITS WILL BE DELIVERED VACANT AT THE CLOSE OF ESCROW and ready to rent or owner-occupy. The units are spacious and have formal living room, dining room, amply sized kitchen with back doors for each unit. Tenant occupied units are well maintained and tenants are long term and have a consistent rent history; rental income is subsidized from the Section 8 program; Los Angeles Rent Stabilization Ordinance applies to this building. This fourplex is centrally located at the western border of the Jefferson Park HPOZ less than and half of mile from the new expo rail line and the 10 freeway. One vacant unit has been REMODELED and the other vacant unit is in good condition. Detached 2 car garages (one parking space per unit). Grassy front yard with citrus tree. Become an owner occupant or advance your real estate portfolio in one of the hottest markets in Los Angeles. Trust sale no court confirmation needed. SOLD "AS IS." Please do not disturb occupants. Current rents are a combination of Section 8 rent subsidy and tenant contributions - total rents for two rented units is $1,972 per month. Annualized rents are based on last 12 month cash flow statement which included owner's rents (unit is now vacant). Two units will be delivered empty at the close of escrow; rent comparables reflect $2,200 - $2,700 depending on upgrades is market for units of similar size and same zip code; no guarantees are made as to market rents; buyer must verify their own rent comps. Property will be sold in As Is condition. Property is not available for Lease or Rent to Own.
Last Agent to Sell the Property
Pacific Playa Realty License #01766118 Listed on: 03/04/2022
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $15,641
Year Built
- Built in 1947
Lot Details
- 7,000 Sq Ft Lot
- East Facing Home
- Front Yard Sprinklers
Parking
- 4 Car Garage
Home Design
- Traditional Architecture
- Raised Foundation
- Shingle Roof
- Stucco
Interior Spaces
- 4,206 Sq Ft Home
- 2-Story Property
Kitchen
- Oven or Range
- Range
Flooring
- Wood
- Carpet
Bedrooms and Bathrooms
- 8 Bedrooms
- 4 Bathrooms
Utilities
- Floor Furnace
- Sewer in Street
Community Details
- 4 Units
Listing and Financial Details
- Tenant pays for cable TV, electricity, gas
- The owner pays for water, gardener
- Assessor Parcel Number 5051-002-016
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Mar 4, 2022
Closed on
Apr 14, 2022
Sold by
Herman Mckinney Sr Revocable Living Trus
Bought by
Castillo Glen and Castillo Joey
Seller's Agent
Teresa Mack
Pacific Playa Realty
Buyer's Agent
John Duerler
Hancock Homes Realty
List Price
$1,400,000
Sold Price
$1,200,000
Premium/Discount to List
-$200,000
-14.29%
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
$106,027
Avg. Annual Appreciation
2.46%
Original Mortgage
$900,000
Outstanding Balance
$846,886
Interest Rate
4.42%
Mortgage Type
New Conventional
Estimated Equity
$459,141
Purchase Details
Closed on
Aug 29, 1996
Sold by
Mckinney Herman
Bought by
Mckinney Herman and Herman Mckinney Sr Revocable Living Tr
Purchase Details
Closed on
Sep 28, 1993
Sold by
Mckinney Edna Todd
Bought by
Mckinney Herman
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$136,000
Interest Rate
4.37%
Create a Home Valuation Report for This Property
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Castillo Glen | $1,200,000 | Lawyers Title | |
| Castillo Glen | $1,200,000 | Lawyers Title | |
| Mckinney Herman | -- | -- | |
| Mckinney Herman | -- | South Coast Title Company |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Castillo Glen | $900,000 | |
| Closed | Castillo Glen | $900,000 | |
| Previous Owner | Mckinney Herman | $136,000 |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 05/06/2022 05/06/22 | Sold | $1,200,000 | -14.3% | $285 / Sq Ft |
| 03/31/2022 03/31/22 | Pending | -- | -- | -- |
| 03/04/2022 03/04/22 | For Sale | $1,400,000 | -- | $333 / Sq Ft |
Source: The MLS
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 | $15,641 | $1,273,448 | $764,069 | $509,379 |
| 2024 | $15,641 | $1,248,480 | $749,088 | $499,392 |
| 2023 | $15,348 | $1,224,000 | $734,400 | $489,600 |
| 2022 | $4,022 | $288,178 | $86,461 | $201,717 |
| 2021 | $3,949 | $282,528 | $84,766 | $197,762 |
| 2019 | $3,843 | $274,150 | $82,252 | $191,898 |
| 2018 | $3,696 | $268,776 | $80,640 | $188,136 |
| 2016 | $3,497 | $258,341 | $77,509 | $180,832 |
| 2015 | $3,452 | $254,461 | $76,345 | $178,116 |
| 2014 | $3,491 | $249,477 | $74,850 | $174,627 |
Source: Public Records
Agents Affiliated with this Home
-
Teresa Mack
-
John Duerler
Buyer's Agent in 2022
John Duerler
Hancock Homes Realty
(213) 924-2208
1 in this area
45 Total Sales
-
Jason Benesh
J
Buyer Co-Listing Agent in 2022
Jason Benesh
Hancock Homes Realty
(323) 462-2748
1 in this area
5 Total Sales
Map
Source: The MLS
MLS Number: 22-131121
APN: 5051-002-016
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