NOT LISTED FOR SALE
20 Beds
18 Baths
12,156 Sq Ft
0.31 Acre Lot

Sale Details

Date Sold: September 8, 2023

Last sale price $2,675,000 $220 Per Sq Ft

58 Days on Market

About This Home

As of September 2023

We are pleased to present this value-add, 18-unit investment opportunity located in and high-rental demand Westlake area of central Los Angeles which is adjacent to Koreatown to the West, Silver Lake to the North and Downtown Los Angeles to the East. This is a great opportunity for a value-add investor, as the rents are currently below market. This two-story, 12,156 square foot, garden style apartment building was built in 1922. The building is situated on a 13,304 square foot LAR3 zoned parcel. The property consists of 16 one-bedroom units and two two-bedroom and one-bath units. The residents have a wide range of amenities and recreation areas close by. The property's central location has access to the 101, 110 and 10 freeways. Shown with accepted offers only. Please do not disturb the tenants or seller.

Last Agent to Sell the Property

Allison Schwarz

Compass License #01878458 Listed on: 05/09/2023

Compass

Co-Listed By

Ryan Yatman

SP Residential Inc License #01212607

Last Buyer's Agent

Suzanne Carney

Compass License #01931676

Compass

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1922

Lot Details

  • 0.31

Interior Spaces

  • 12,156 Sq Ft Home
  • 2-Story Property
  • Oven or Range

Bedrooms and Bathrooms

  • 20 Bedrooms
  • 18 Bathrooms

Additional Features

  • 13,304 Sq Ft Lot
  • Heating System Mounted To A Wall or Window

Community Details

  • 18 Units

Listing and Financial Details

  • Assessor Parcel Number 5155-033-011

Property Details

Home Type

Multi-Family

Year Built

Built in 1922

Lot Details

0.31 Acres

Listing Details

  • Property Type: Residential Income
  • Levels: Two
  • Street Number Display: Yes
  • Living Area: 12156
  • Lot Acreage: 0.3054
  • Stories: 2
  • Year Built: 1922
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 20
  • Total Bathrooms: 18.00
  • Equipment: Range/Oven, Refrigerator
  • Price Per S Q F T: 246.79

Exterior Features

  • Other Structures: None

Utilities

  • Heating: Wall

Lot Info

  • Assessed Improvement Percent: 60.40
  • Assessed Improvement Value: 433071
  • Assessed Land Percent: 39.6
  • Assessed Land Value: 283979
  • Total Assessed Value: 717050
  • Assessor Parcel Number: 5155-033-011
  • Lot Size Area: 13304

Multi Family

  • Unit Type: 2106, 2107
  • Gross Rent Multiplier: 14.98
  • Number Of Units: 18
  • Type Of Units: apartments

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
May 9, 2023
Closed on
Aug 31, 2023
Sold by
Bought by
Seller's Agent
Allison Schwarz
Compass
Buyer's Agent
Suzanne Carney
Compass
List Price
$3,400,000
Sold Price
$2,675,000
Premium/Discount to List
-$725,000
-21.32%
Views
69

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,170,000
Interest Rate
0.0718%
Mortgage Type
New Conventional

Purchase Details

Closed on
Nov 1, 2006
Sold by
Bought by

Purchase Details

Closed on
Aug 18, 2000
Sold by
Bought by

Purchase Details

Closed on
Jun 20, 2000
Sold by
Bought by

Purchase Details

Closed on
Mar 20, 1999
Sold by
Bought by
Source: Public Records
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$2,675,000 Fidelity National Title
-- None Available
-- --
-- Commonwealth Title
-- --
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $1,170,000
Previous Owner $510,000
Previous Owner $510,000
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
09/08/2023 09/08/23 Sold $2,675,000 -10.8% $220 / Sq Ft
07/06/2023 07/06/23 Pending -- -- --
06/30/2023 06/30/23 Price Changed $3,000,000 -11.8% $247 / Sq Ft
05/09/2023 05/09/23 For Sale $3,400,000 -- $280 / Sq Ft
Source: The MLS

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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 $34,544 $2,728,500 $1,428,000 $1,300,500
2024 $34,076 $2,675,000 $1,400,000 $1,275,000
2023 $10,760 $731,390 $289,658 $441,732
2022 $10,332 $717,050 $283,979 $433,071
2021 $10,142 $702,991 $278,411 $424,580
2019 $9,880 $685,442 $270,154 $415,288
2018 $9,649 $672,067 $264,857 $407,210
2016 $9,085 $642,800 $254,573 $388,227
2015 $8,971 $633,146 $250,750 $382,396
2014 $9,124 $620,745 $245,839 $374,906
Source: Public Records

Agents Affiliated with this Home

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Map

Source: The MLS

MLS Number: 23-268371

The MLS
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