NOT LISTED FOR SALE

2877 Francis Ave Los Angeles, CA 90005

Westlake Neighborhood

Estimated Value: $3,914,000

0.62 Acre
$6,314,587 Price per Acre
27,000 Sq Ft Lot

Last Sold March 03, 2020

Last sale price $7,750,000 $2,090 Per Sq Ft

Est. 49% decrease in value since last sale

Current estimated payment $28,961/month

76 Days on Market

Highlights

  • 27,000 Sq Ft lot
  • UCLA Community School Rated A-
  • Views

About This Lot

As of March 2020

Presented for sale is a 4-Parcel Assemblage in prime Koreatown. With a combined lot size of 27,000 SF and R4-2 (Tier 3 TOC) zoning, this site perfectly lends itself to be a prime development opportunity. The buildings on the lot, which currently hold nine units, have already been Ellis'd and will be delivered vacant!Developers can build 67 units by right and 116 units using a TOC density bonus.The project site is situated just three blocks from the legendary Park's BBQ, positioned in the heart of Los Angeles' Koreatown District. Around the corner from the Metro Station at Wilshire and Vermont, this location provides residents with direct access to an abundance of public transit options, nightlife, restaurants, coffee shops and much more in this burgeoning K-Town pocket.

Last Agent to Sell the Property

Dario Svidler

Keller Williams Beverly Hills License #01884474 Listed on: 11/14/2019

Keller Williams Beverly Hills

Co-Listed By

Justin Ruder

Compass License #02080759

Last Buyer's Agent

Peter Ciriello

LA Commercial License #01418188

Property Details

Property Type

  • Land

Est. Annual Taxes

  • $100,478

Lot Details

  • 0.62 Acre Lot
  • Lot Dimensions are 200x135
  • Property is zoned R4-2 Tier 3

Utilities

  • Phone Available
  • Cable TV Available

Additional Features

  • Property Views

Listing and Financial Details

  • Assessor Parcel Number 5077-022-059

Property Details

Property Type

Land

Est. Annual Taxes

$100,478

Lot Details

0

Listing Details

  • Property Type: Land
  • Street Number Display: Yes
  • Lot Dimensions: 200x135
  • Number Of Photos: 9
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: LotsLands

Exterior Features

  • View: Yes

Utilities

  • Cable: Yes
  • Telephone: Yes

Lot Info

  • Assessor Parcel Number: 5077-022-059
  • Geocode Override: No
  • Lot Size Area: 27000

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Feb 24, 2015
Sold by
Oh Nan Hee and Oh Phillip J
Bought by
Francis/Lily Llc
Current Estimated Value
$3,914,000

Purchase Details

Closed on
Jan 7, 2011
Sold by
Oh Nan Hee
Bought by
The Nan Hee Oh Family Trust

Purchase Details

Closed on
May 22, 2007
Sold by
Oh Phillip J
Bought by
Oh Nan Hee

Purchase Details

Closed on
May 24, 2004
Sold by
Clark Delos C and Maitland Birchel L
Bought by
Oh Phillip and Oh Nan H

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$345,000
Interest Rate
6.31%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Sep 24, 1998
Sold by
Maitland B
Bought by
Maitland Birchel L and Clark Delos C
Source: Public Records

Range of Values:

Collateral Analytics

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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
Francis/Lily Llc $3,700,000 First American Title Company
The Nan Hee Oh Family Trust -- None Available
Oh Nan Hee -- None Available
Oh Phillip -- First American Title Co Los
Maitland Birchel L -- --
Clark Delos C -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Oh Phillip $345,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/03/2020 03/03/20 Sold $7,750,000 -8.3% $2,090 / Sq Ft
01/29/2020 01/29/20 Pending -- -- --
11/14/2019 11/14/19 For Sale $8,450,000 -- $2,279 / 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
2025 $100,478 $8,464,818 $8,464,818 --
2024 $100,478 $8,298,842 $8,298,842 --
2023 $98,505 $8,136,120 $8,136,120 $0
2022 $93,890 $7,976,589 $7,976,589 $0
2021 $92,822 $7,830,367 $7,820,186 $10,181
2020 $50,477 $4,066,065 $4,022,112 $43,953
2019 $48,491 $3,986,340 $3,943,248 $43,092
2018 $47,953 $3,908,178 $3,865,930 $42,248
Source: Public Records

Agents Affiliated with this Home

  • Dario Svidler

    Seller's Agent in 2020

    Dario Svidler

    Keller Williams Beverly Hills

    (424) 600-7633

    4 in this area

    54 Total Sales

    Dario Svidler
    Section Image

  • J

    Seller Co-Listing Agent in 2020

    Justin Ruder

    Compass

  • Peter Ciriello

    Buyer's Agent in 2020

    Peter Ciriello

    LA Commercial

    (310) 980-4562

    7 Total Sales

    Peter Ciriello
    Section Image

  • D

    Buyer Co-Listing Agent in 2020

    David Johnstone

    Oak + Main, Inc.

    Section Image
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Map

Source: The MLS

MLS Number: 19-530128

The MLS

APN: 5077-022-059

California Los Angeles County Los Angeles 90005 Westlake

2877 Francis Ave, Los Angeles, CA

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