$2,500,000
SOLD APR 1, 2021
11 Beds
5 Baths
3,640 Sq Ft
5,660 Sq Ft Lot

Recently Sold

$687 Per Sq Ft

8% Below List Price

55 Days on Market

About This Home

As of April 2021

We are pleased to offer for sale this three (3) unit, eleven (11) bedroom, student housing investment opportunity, located walking distance to the internationally renowned University of Southern California (USC). The subject property is constructed of wood frame and stucco in 1907, with approximately 3,640 rentable square feet on a 5,660 square foot lot. The investment is comprised of two (2) structures, with a unit mix consisting of one (1) 5-bedroom + 2-bathroom unit, one (1) 4-bedroom + 2-bathroom unit, & one (1) 2-bedroom + 1-bathroom unit. The Property is 100% occupied with USC students, and 2 of the 3 units are pre-leased for the 2021-2022 academic school year. There's a combination of vintage architectural detail and best-in-class modern interior standards. The property includes spacious, fully updated & remodeled units, updated copper plumbing, and an outdoor common area with a 6-8 person hot tub.

Last Agent to Sell the Property

Davis Saadian

Keller Williams Hollywood Hills License #01921748 Listed on: 12/16/2020

Keller Williams Hollywood Hills

Last Buyer's Agent

Davis Saadian

Keller Williams Hollywood Hills License #01921748 Listed on: 12/16/2020

Keller Williams Hollywood Hills

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $32,292

Year Built

  • Built in 1934

Interior Spaces

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

Kitchen

  • Oven or Range
  • Freezer
  • Dishwasher
  • Disposal

Bedrooms and Bathrooms

  • 11 Bedrooms
  • 5 Bathrooms

Parking

  • 5 Parking Spaces
  • Driveway

Additional Features

  • 5,660 Sq Ft Lot
  • Cooling System Mounted To A Wall/Window

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
  • Lot Acreage: 0.1299
  • Stories: 2
  • Year Built: 1934
  • Number Of Photos: 13
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 11
  • Total Bathrooms: 5.00
  • Equipment: Range/Oven, Refrigerator, Garbage Disposal, Freezer, Dishwasher
  • Price Per S Q F T: 748.63

Exterior Features

  • Other Structures: None

Garage/Parking

  • Parking Garage: Driveway, Driveway - Combination
  • Total Parking: 5

Utilities

  • Cooling: Wall/Window

Lot Info

  • Assessed Improvement Percent: 21.95
  • Assessed Improvement Value: 237653
  • Assessed Land Percent: 78.05
  • Assessed Land Value: 844995
  • Total Assessed Value: 1082648
  • Assessor Parcel Number: 5055-008-014
  • Lot Size Area: 5660

Multi Family

  • Unit Type: 2106, 2107, 2108
  • Gross Rent Multiplier: 13.67
  • Number Of Units: 3
  • Total Annual Expense: 56634
  • Type Of Units: Apartmnets
  • Vacancy Rate: N/A

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: 20-671300

The MLS

APN: 5055-008-014