NOT LISTED FOR SALE

3015 S Palm Grove Ave Los Angeles, CA 90016

West Adams Neighborhood

Estimated Value: $1,015,000 - $1,485,497

3 Beds
3 Baths
2,060 Sq Ft
$566/Sq Ft Est. Value

Last Sold April 20, 2022

Last sale price $975,000 $473 Per Sq Ft

Est. 20% increase in value since last sale

Current estimated payment $7,573/month

50 Days on Market

About This Home

As of April 2022

Prime West Adams value-add duplex plus one non-conforming unit, delivered completely vacant. The property consists of a 2 Bd/1 Ba unit (plus laundry), a large 1 Bd/1 Ba unit (with a dining room and living room), and a non-conforming studio. The seller has completed a feasibility study to determine that a new buyer can add an ADU and a Jr. ADU (buyer to verify). The ADU feasibility study completed by the buyer has been included as a supplement to this listing, in addition to the numbers page. The subject property is located in a nice residential pocket of the rapidly growing West Adams neighborhood between Jefferson Blvd. and West Adams Blvd. At the list price, assuming market rents for only the existing two units and the non-conforming studio, this property should deliver a cap rate of approximately 4.76%. This is the perfect property for an owner user or a seasoned investor who can immediately add value by rehabbing the existing units, building out the two ADU’s, and renting the units out at market rents.

Last Listed By

Martin Ensbury

Lyon Stahl Investment Real Estate, Inc. License #00815392 Listed on: 08/17/2021

Lyon Stahl Investment Real Estate, Inc.

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $12,520

Year Built

  • Built in 1933

Lot Details

  • 5,200 Sq Ft Lot
  • 1 Common Wall
  • Density is 2-5 Units/Acre

Parking

  • 3 Car Garage

Home Design

  • 2,060 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 3 Bathrooms

Additional Features

  • Laundry Room
  • Exterior Lighting
  • Urban Location

Listing and Financial Details

  • Tax Lot 444
  • Tax Tract Number 1601
  • Assessor Parcel Number 5057029014
  • $331 per year additional tax assessments

Community Details

Overview

  • 2 Buildings
  • 3 Units

Building Details

  • Rent Control
  • 3 Separate Electric Meters
  • 3 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $500
  • Fuel Expense $500
  • Insurance Expense $1,030
  • Trash Expense $562
  • Water Sewer Expense $1,162
  • New Taxes Expense $12,631
  • Operating Expense $19,265
  • Gross Income $70,200
  • Net Operating Income $48,829

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$12,520

Year Built

Built in 1933

Lot Details

0

Parking

3

Listing Details

  • Price Per Unit: 331667
  • Property Attached: Yes
  • Water Sewer Expenses: 1162.00
  • Zoning: LAR2
  • Property Type: Residential Income
  • Parcel Number: 5057029014
  • Year Built: 1933
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 1 Common Wall
  • Levels: Two
  • Price Per Square Foot: 473.30

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 3.00
  • Total Parking Spaces: 3.00

Utilities

  • Laundry: Yes
  • Laundry Features: Inside
  • Sewer: Public Sewer
  • Trash Expense: 562.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Sidewalks, Street Lights, Urban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 2-5 Units/Acre
  • Lot Size Sq Ft: 5200.00
  • Lot Size Acres: 0.1194

Multi Family

  • Electric Expense: 500.00
  • Fuel Expense: 500.00
  • Gross Income: 70200.00
  • Gross Scheduled Income: 70200.00
  • Insurance Expense: 1030.00
  • Lot Size Area: 5200.0000 Square Feet
  • Net Operating Income: 48829.00
  • Number Of Separate Electric Meters: 3
  • Number Of Separate Gas Meters: 3
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 3
  • Operating Expense: 19265.00
  • Rent Control: Yes
  • Total Expenses: 19265.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 12631.00
  • Tax Census Tract: 2197.00
  • Tax Lot: 444
  • Tax Tract Number: 1601
  • TaxOtherAnnualAssessmentAmount: 331.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Nov 16, 2007
Sold by
Davis Donald M and Estate Of Geraldine E Byrd
Bought by
Sugimoto Douglas and Sugimoto Isabelle
Total Days on Market
50
Current Estimated Value
$1,166,624

Range of Values:

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Average Value
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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
Sugimoto Douglas $529,000 None Available
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/20/2022 04/20/22 Sold $975,000 -2.0% $473 / Sq Ft
10/06/2021 10/06/21 Pending -- -- --
09/08/2021 09/08/21 Price Changed $995,000 -2.9% $483 / Sq Ft
08/17/2021 08/17/21 For Sale $1,025,000 -- $498 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

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 $12,520 $1,014,390 $702,270 $312,120
2023 $12,282 $994,500 $688,500 $306,000
2022 $8,740 $719,639 $618,874 $100,765
2021 $8,625 $705,530 $606,740 $98,790
2020 $8,711 $698,297 $600,519 $97,778
2019 $8,370 $684,606 $588,745 $95,861
2018 $8,272 $671,183 $577,201 $93,982
2017 $7,361 $598,701 $565,884 $32,817
2016 $7,190 $586,963 $554,789 $32,174
2015 $7,086 $578,147 $546,456 $31,691
2014 $7,120 $566,823 $535,752 $31,071
Source: Public Records

Agents Affiliated with this Home

  • Martin Ensbury

    Seller's Agent in 2022

    Martin Ensbury

    Lyon Stahl Investment Real Estate, Inc.

    (310) 376-4600

    1 in this area

    27 Total Sales

    Martin Ensbury
    Section Image
  • Nick Ensbury

    Seller Co-Listing Agent in 2022

    Nick Ensbury

    Lyon Stahl Investment Real Estate, Inc.

    (310) 503-7574

    1 in this area

    12 Total Sales

    Nick Ensbury
    Section Image
  • Jerome McAlpin

    Buyer's Agent in 2022

    Jerome McAlpin

    McAlpin & Company

    (310) 902-8977

    4 in this area

    41 Total Sales

    Jerome McAlpin
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB21182045

California Regional Multiple Listing Service (CRMLS)

APN: 5057-029-014

California Los Angeles County Los Angeles 90016 West Adams

3015 S Palm Grove Ave, Los Angeles, CA

Homes for Sale in Los Angeles, CA

This home is located at 3015 S Palm Grove Ave, Los Angeles, CA 90016 since 17 August 2021 and is currently estimated at $1,166,624, approximately $566 per square foot. This property was built in 1933. 3015 S Palm Grove Ave is a home located in Los Angeles County with nearby schools including Virginia Road Elementary School, Johnnie L. Cochran Jr. Middle School, and Susan Miller Dorsey Senior High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. 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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