$1,576,475
SOLD APR 8, 2014
11 Beds
5 Baths
3,640 Sq Ft
5,660 Sq Ft Lot

Recently Sold

$433 Per Sq Ft

7% Below List Price

105 Days on Market

About This Home

As of April 2021

Price Reduced! Marcus & Millichap is pleased to present a three-unit property located at 2824 Menlo Avenue in Los Angeles, California. Situated east of South Vermont Avenue and south of West Adams Boulevard, the property is well-positioned in a strong rental pocket within walking distance of USC. The property is conveniently located near the 10 and 110 Freeways providing easy access throughout Los Angeles.All of the units are fully-renovated and are occupied by USC students. Each unit offers hardwood floors, granite countertops, stainless steel appliances, high ceilings, and many upgrades. Built in 1934, the subject property presents a great unit mix. Some of the property's amenities include onsite parking, on-site laundry facilities, and a hot tub. The property offers an investor a well-maintained property with rental upside potential in a rental pocket with very high demand for off campus student housing.

Last Agent to Sell the Property

Jason Tuvia

Marcus & Millichap License #01772495 Listed on: 10/03/2013

Last Buyer's Agent

Rita Whitney

License #01209004

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $32,292

Year Built

  • Built in 1934

Lot Details

  • 5,660 Sq Ft Lot

Interior Spaces

  • 3,640 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 11 Bedrooms
  • 5 Bathrooms

Parking

  • 2 Parking Spaces
  • Unassigned Parking

Community Details

  • 2 Buildings
  • 3 Units

Listing and Financial Details

  • Assessor Parcel Number 5055-008-014

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$32,292

Year Built

Built in 1934

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 3640
  • Stories: 2
  • Year Built: 1934
  • Number Of Photos: 1
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 11
  • Dining Room: 0
  • Family Room: 0
  • Total Bathrooms: 5.00
  • Den: 0
  • Price Per S Q F T: 458.79

Exterior Features

  • Tennis Court Y/N: No
  • Pool: No
  • View: No

Garage/Parking

  • Parking Garage: Unassigned
  • Total Parking: 2

Utilities

  • Cooling: Air Conditioning

Lot Info

  • Assessed Improvement Value: 102768
  • Assessed Land Value: 308304
  • Assessor Parcel Number: 5055-008-014
  • Geocode Override: No
  • Lot Size Area: 5660

Multi Family

  • Unit Type: 2106, 2107, 2108
  • Gross Rent Multiplier: 10.20
  • Number Of Units: 3
  • Total Annual Expense: 49981
  • Type Of Units: 2/1,4/2,5/2
  • Vacancy Rate: 5%

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Dec 16, 2020
Closed on
Mar 22, 2021
Sold by
Menlo Avenue Partners Llc
Bought by
Grai Holdings Llc
Seller's Agent
Davis Saadian
Keller Williams Hollywood Hills
Buyer's Agent
Davis Saadian
Keller Williams Hollywood Hills
List Price
$2,725,000
Sold Price
$2,500,000
Premium/Discount to List
-$225,000
-8.26%
Current Estimated Value
$2,675,855

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$175,855
Avg. Annual Appreciation
4.53%
Original Mortgage
$1,600,000
Outstanding Balance
$1,454,362
Interest Rate
2.73%
Mortgage Type
Commercial
Estimated Equity
$1,573,453

Purchase Details

Listed on
Oct 3, 2013
Closed on
May 2, 2014
Sold by
Brandt Wayne M
Bought by
Menlo Avenue Partners Llc
Seller's Agent
Jason Tuvia
Marcus & Millichap
Buyer's Agent
Rita Whitney
List Price
$1,699,000
Sold Price
$1,576,475
Premium/Discount to List
-$122,525
-7.21%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.82%
Original Mortgage
$824,000
Interest Rate
4.3%
Mortgage Type
New Conventional

Purchase Details

Listed on
Oct 3, 2013
Closed on
Mar 27, 2014
Sold by
2824 Menlo Llc
Bought by
Brandt Wayne M
Seller's Agent
Jason Tuvia
Marcus & Millichap
Buyer's Agent
Rita Whitney
List Price
$1,699,000
Sold Price
$1,576,475
Premium/Discount to List
-$122,525
-7.21%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$824,000
Interest Rate
4.3%
Mortgage Type
New Conventional

Purchase Details

Listed on
Oct 3, 2013
Closed on
Mar 26, 2014
Sold by
Brandt Lisa
Bought by
Brandt Wayne M
Seller's Agent
Jason Tuvia
Marcus & Millichap
Buyer's Agent
Rita Whitney
List Price
$1,699,000
Sold Price
$1,576,475
Premium/Discount to List
-$122,525
-7.21%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$824,000
Interest Rate
4.3%
Mortgage Type
New Conventional

Purchase Details

Closed on
Apr 24, 2012
Sold by
Clark Andrew
Bought by
2824 Menlo Llc

Purchase Details

Closed on
May 18, 2010
Sold by
2824 Menlo Llc
Bought by
Clark Andrew

Purchase Details

Closed on
Mar 5, 2008
Sold by
Castleman Marc
Bought by
2824 Menlo Llc

Purchase Details

Closed on
Dec 7, 2007
Sold by
Willard Dallas A and Willard Jane L
Bought by
Castleman Marc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$549,500
Interest Rate
6.07%
Mortgage Type
Negative Amortization
Source: Public Records

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Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Type Sale Price Title Company
Grant Deed $2,500,000 Old Republic Title Company
Grant Deed -- Accommodation
Grant Deed $1,576,500 Ticor Title Co
Interfamily Deed Transfer -- Ticor Title Co
Quit Claim Deed -- None Available
Quit Claim Deed -- None Available
Quit Claim Deed -- None Available
Grant Deed $785,000 Provident Title Company
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $1,600,000 Commercial
Previous Owner $824,000 New Conventional
Previous Owner $549,500 Negative Amortization
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/01/2021 04/01/21 Sold $2,500,000 -8.3% $687 / Sq Ft
02/09/2021 02/09/21 Pending -- -- --
12/16/2020 12/16/20 For Sale $2,725,000 +72.9% $749 / Sq Ft
04/08/2014 04/08/14 Sold $1,576,475 -7.2% $433 / Sq Ft
01/16/2014 01/16/14 Pending -- -- --
10/03/2013 10/03/13 For Sale $1,699,000 -- $467 / Sq Ft
Source: The MLS

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
2024 $32,292 $2,653,019 $1,963,234 $689,785
2023 $31,664 $2,601,000 $1,924,740 $676,260
2022 $30,185 $2,550,000 $1,887,000 $663,000
2021 $21,928 $1,828,996 $1,098,530 $730,466
2020 $22,155 $1,810,242 $1,087,266 $722,976
2019 $21,270 $1,774,748 $1,065,948 $708,800
2018 $21,183 $1,739,950 $1,045,048 $694,902
2017 $13,289 $1,082,648 $844,995 $237,653
2016 $12,969 $1,061,421 $828,427 $232,994
2015 $12,780 $1,045,479 $815,984 $229,495
2014 $4,089 $307,389 $204,926 $102,463
Source: Public Records

Agents Affiliated with this Home

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Map

Source: The MLS

MLS Number: 13-708973

The MLS

APN: 5055-008-014