NOT LISTED FOR SALE

2961 W 8th St Los Angeles, CA 90005

Koreatown Neighborhood

Estimated Value: $1,226,579 - $1,432,000

0.14 Acre
$9,537,418 Price per Acre
5,990 Sq Ft Lot

Last Sold January 31, 2024

Last sale price $1,200,000 $400 Per Sq Ft

Est. 9% increase in value since last sale

Current estimated payment $7,631/month

145 Days on Market

About This Lot

As of January 2024

2961 W 8th Street a unique opportunity to acquire an exceptional and highly visible location on the main thoroughfare of 8th Street zoned R4-2-Tier 3 in the heart of Koreatown. The subject property totals 5,990 SF gross land area in the prime Koreatown neighborhood on 8th Street between Vermont Ave and S Westmoreland Ave. The owner is currently occupying the property; however, it can be delivered vacant at closing. 2961 W 8th Street offers an investor a residential redevelopment opportunity in one of the most desirable submarkets in all of Los Angeles.. Over the last decade, the area has seen significant year-over-year population growth due to a revitalization of the neighborhood and its central location, within 3 miles of DTLA, and USC. A high Walkscore of 96; this location is a walker's paradise located in prime Koreatown with a short eight-minute walk to the Wilshire / Vermont Station stop and near newly renovated MacArthur Park.

Last Agent to Sell the Property

Neema Ahadian

Marcus & Millichap License #01346750 Listed on: 06/29/2022

Last Buyer's Agent

Neema Ahadian

Marcus & Millichap License #01346750 Listed on: 06/29/2022

Property Details

Property Type

  • Land

Est. Annual Taxes

  • $5,836

Lot Details

  • 5,990 Sq Ft Lot
  • Property is zoned LAR4

Property Views

  • City Views

Utilities

  • Phone Available
  • Cable TV Available

Listing and Financial Details

  • Assessor Parcel Number 5077-018-002

Property Details

Property Type

Land

Est. Annual Taxes

$5,836

Lot Details

0

Listing Details

  • Property Type: Land
  • Street Number Display: Yes
  • Lot Acreage: 0.1375
  • Number Of Photos: 10
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: LotsLands

Exterior Features

  • View: City
  • View: Yes

Utilities

  • Cable: Yes
  • Telephone: Yes

Lot Info

  • Assessor Parcel Number: 5077-018-002
  • Lot Size Area: 5990

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jul 17, 2023
Sold by
8Th Street Kim Family Trust and Mattingly Chris
Bought by
Twenty Six 8Th St Llc
Current Estimated Value
$1,311,395

Purchase Details

Closed on
Jun 26, 2012
Sold by
Kim Jung Ae
Bought by
8Th Street Kim Family Trust

Purchase Details

Closed on
Feb 17, 2012
Sold by
Kim Tr Jung and Kim Jung Ae
Bought by
Kim Tr Jung

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$284,100
Interest Rate
3.84%
Mortgage Type
New Conventional

Purchase Details

Closed on
Nov 29, 2011
Sold by
8Th Street Kim Family Trust
Bought by
Kim Jung Ae

Purchase Details

Closed on
Jul 20, 2009
Sold by
Kim Jung Ae
Bought by
8Th Street Kim Family Trust

Purchase Details

Closed on
Nov 14, 2006
Sold by
Lee Choong Koo
Bought by
Kim Jung Ae

Purchase Details

Closed on
Apr 12, 2004
Sold by
Kim Jung Ae
Bought by
Lee Choong Koo

Purchase Details

Closed on
Aug 13, 2001
Sold by
Klein Marion B
Bought by
Kim Jung Ae

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$274,300
Interest Rate
7.21%
Source: Public Records

Range of Values:

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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
Twenty Six 8Th St Llc $1,200,000 Provident Title Company
8Th Street Kim Family Trust -- None Available
Kim Tr Jung -- First American Title Company
Kim Jung Ae -- First American Title Company
8Th Street Kim Family Trust -- California Title Company
Kim Jung Ae -- None Available
Lee Choong Koo -- --
Kim Jung Ae $305,000 South Coast Title Company
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Kim Tr Jung $284,100
Previous Owner Kim Jung A $102,000
Previous Owner Kim Jung Ae $100,000
Previous Owner Kim Jung Ae $322,700
Previous Owner Kim Jung Ae $274,300
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
01/31/2024 01/31/24 Sold $1,200,000 +9.1% $400 / Sq Ft
11/30/2022 11/30/22 For Sale $1,100,000 -8.3% $367 / Sq Ft
11/21/2022 11/21/22 Pending -- -- --
09/12/2022 09/12/22 Off Market $1,200,000 -- --
06/29/2022 06/29/22 For Sale $1,100,000 -- $367 / 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 $5,836 $1,224,000 $856,800 $367,200
2024 $5,836 $441,723 $434,492 $7,231
2023 $5,735 $433,063 $425,973 $7,090
2022 $5,486 $424,572 $417,621 $6,951
2021 $5,404 $416,248 $409,433 $6,815
2019 $5,252 $403,904 $397,290 $6,614
2018 $5,113 $395,985 $389,500 $6,485
2016 $4,868 $380,610 $374,376 $6,234
2015 $4,801 $374,894 $368,753 $6,141
2014 $4,824 $367,551 $361,530 $6,021
Source: Public Records

Agents Affiliated with this Home

  • N

    Seller's Agent in 2024

    Neema Ahadian

    Marcus & Millichap

    (213) 943-1800

    4 in this area

    88 Total Sales

    Neema Ahadian
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Map

Source: The MLS

MLS Number: 22-179263

The MLS

APN: 5077-018-002

California Los Angeles County Los Angeles 90005 Koreatown

2961 W 8th St, Los Angeles, CA

This home is located at 2961 W 8th St, Los Angeles, CA 90005 since 29 June 2022 and is currently estimated at $1,311,395, approximately $436 per square foot. 2961 W 8th St is a home located in Los Angeles County with nearby schools including UCLA Community School, Rfk Community Schools-Ambassador-Global Leadership, and Young Oak Kim Academy.

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The MLS © 2025 The MLS™ - Combined L.A. Westside MLS (CLAW). All rights reserved. Based on information from The MLS™ - Combined L.A. Westside MLS (CLAW). All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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