NOT LISTED FOR SALE

Estimated Value: $1,189,869 - $1,717,000

9 Beds
6 Baths
2,531 Sq Ft
$550/Sq Ft Est. Value

Last Sold April 21, 2023

Last sale price $1,467,500 $580 Per Sq Ft

Est. 5% decrease in value since last sale

Current estimated payment $8,779/month

101 Days on Market

About This Home

As of April 2023

6.41% CURRENT CAP RATE! We are pleased to present 2819 3rd Avenue, an attractive single story 5-unit property located in the trendy West Adams District. The unit mix is comprised of 1 and 2 bedroom units. All the units have been completely and beautifully renovated with no expense spared. Renovations include new flooring, kitchens, bathrooms, doors, stainless steel appliances, recessed lighting, mini split hvac units, exterior paint, dual-pane windows, solar panels, landscaping, etc. One of the 5 units is a 2 bedroom 2 bath ADU that was built from the ground up in 2022 which is located at the rear of the property. There is open parking available on-site which is accessible from the alley. Conveniently located close to Culver City, USC and Downtown LA not to mention in a strong West Adams District rental market. An "easy to manage" cash flowing asset not to be overlooked!

Last Agent to Sell the Property

Enrique Viramontes

Remax Commercial and Investment Realty License #01372010 Listed on: 01/06/2023

Co-Listed By

Benjamin Hsiang

Realty Investment Advisors, Inc. License #01438644

Last Buyer's Agent

Sonny Shackelford

Nicholas Property Group License #01899698

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1925

Lot Details

  • 5,823

Interior Spaces

  • 2,531 Sq Ft Home
  • 1-Story Property

Bedrooms and Bathrooms

  • 9 Bedrooms
  • 6 Bathrooms

Utilities

  • Cooling System Mounted In Outer Wall Opening
  • Heating System Mounted To A Wall or Window

Additional Features

  • 5,823 Sq Ft Lot
  • Accessory Dwelling Unit (ADU)

Community Details

  • 3 Buildings
  • 5 Units

Listing and Financial Details

  • Assessor Parcel Number 5052-003-006

Property Details

Home Type

Multi-Family

Year Built

Built in 1925

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 2531
  • Lot Acreage: 0.1337
  • Stories: 1
  • Year Built: 1925
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 9
  • Total Bathrooms: 6.00
  • Price Per S Q F T: 622.28

Exterior Features

  • Other Structures: Accessory Dwelling Unit

Utilities

  • Cooling: Wall Unit(s)
  • Heating: Wall

Lot Info

  • Assessed Improvement Percent: 20.00
  • Assessed Improvement Value: 153000
  • Assessed Land Percent: 80
  • Assessed Land Value: 612000
  • Total Assessed Value: 765000
  • Assessor Parcel Number: 5052-003-006
  • Lot Size Area: 5823

Multi Family

  • Unit Type: 2106, 2107, 2108
  • Gross Rent Multiplier: 11.54
  • Number Of Units: 5
  • Type Of Units: Apartment

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 6, 2023
Closed on
Apr 5, 2023
Sold by
Pan Partnership Inc
Bought by
First Operating Services Llc
Seller's Agent
Enrique Viramontes
Remax Commercial and Investment Realty
Buyer's Agent
Sonny Shackelford
Nicholas Property Group
List Price
$1,650,000
Sold Price
$1,467,500
Premium/Discount to List
-$182,500
-11.06%
Views
62
Current Estimated Value
$1,393,217

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$74,283
Avg. Annual Appreciation
-1.86%

Purchase Details

Closed on
Aug 19, 2020
Sold by
Gialketsis Suzanne and 2014 Suzanne Gialketsis Living
Bought by
Pan Partnership Inc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$487,500
Interest Rate
2.8%
Mortgage Type
Commercial

Purchase Details

Closed on
Jun 2, 2017
Sold by
Gialketsis Suzanne O
Bought by
Gialketsis Suzanne and The 2014 Suzanne Gialketsis Li

Purchase Details

Closed on
Mar 14, 2017
Sold by
Gialketsis V George and Gialketsis Suzanne O
Bought by
Gialketsis V George and Gialketsis Suzanne O

Purchase Details

Closed on
May 22, 2007
Sold by
Gialketsis Lola T
Bought by
Gialketsis Lola T and Gialketsis Family Trust

Purchase Details

Closed on
Mar 2, 2004
Sold by
Gialketsis George V and Gialketsis Lola T
Bought by
Gialketsis George V and Gialketsis Lola T

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$75,000
Interest Rate
5.69%
Mortgage Type
New Conventional

Purchase Details

Closed on
Oct 13, 1998
Sold by
Diaz Mario and Diaz Isabel
Bought by
The Gialketsis Family Trust

Purchase Details

Closed on
May 20, 1997
Sold by
Gialketsis George V and The Gialketsis Family Trust
Bought by
Diaz Mario and Diaz Isabel

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$75,000
Interest Rate
8.48%

Purchase Details

Closed on
Sep 23, 1994
Sold by
Gialketsis George V and Gialketsis Lola
Bought by
Gialketsis George V and Gialketsis Lola T
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
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
First Operating Services Llc $1,467,500 Fidelity National Title
Pan Partnership Inc $750,000 Fidelity National Title
Gialketsis Suzanne -- None Available
Gialketsis V George -- None Available
Gialketsis Lola T -- None Available
Gialketsis George V -- Gateway Title Company
The Gialketsis Family Trust $65,563 Provident Title
Diaz Mario $140,500 --
Gialketsis George V -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Pan Partnership Inc $487,500
Previous Owner Gialketsis George V $75,000
Previous Owner Diaz Mario $75,000
Closed Diaz Mario $65,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
04/21/2023 04/21/23 Sold $1,467,500 -6.8% $580 / Sq Ft
04/17/2023 04/17/23 Pending -- -- --
03/16/2023 03/16/23 Price Changed $1,575,000 -1.5% $622 / Sq Ft
02/08/2023 02/08/23 Price Changed $1,599,000 -3.1% $632 / Sq Ft
01/06/2023 01/06/23 For Sale $1,650,000 +120.0% $652 / Sq Ft
10/29/2020 10/29/20 Sold $750,000 0.0% $366 / Sq Ft View Prior Sale
07/09/2020 07/09/20 Pending -- -- --
07/09/2020 07/09/20 For Sale $750,000 -- $366 / Sq Ft
Source: The MLS

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 $18,354 $1,526,787 $1,040,400 $486,387
2024 $18,354 $1,496,850 $1,020,000 $476,850
2023 $9,759 $780,300 $624,240 $156,060
2022 $9,315 $765,000 $612,000 $153,000
2021 $9,195 $750,000 $600,000 $150,000
2020 $3,474 $258,008 $172,009 $85,999
2019 $3,349 $252,950 $168,637 $84,313
2018 $3,269 $247,991 $165,331 $82,660
2016 $3,114 $238,363 $158,912 $79,451
2015 $3,072 $234,783 $156,525 $78,258
2014 $3,103 $230,185 $153,459 $76,726
Source: Public Records

Agents Affiliated with this Home

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Map

Source: The MLS

MLS Number: 23-230208

The MLS

APN: 5052-003-006