NOT LISTED FOR SALE

3023 S Budlong Ave Los Angeles, CA 90007

Adams-Normandie Neighborhood

Estimated Value: $1,792,000 - $2,739,000

12 Beds
4 Baths
4,680 Sq Ft
$479/Sq Ft Est. Value

Last Sold October 06, 2017

Last sale price $1,476,000 $315 Per Sq Ft

Est. 52% increase in value since last sale

Current estimated payment $13,828/month

40 Days on Market

About This Home

As of October 2017

This property must be sold as part of a portfolio with another property situated at 2412 5th Avenue, Los Angeles, California 90018. We are pleased to present a four unit multi-family property located in Los Angeles, California. This fourplex is currently occupied entirely by USC students and serves as student housing. The property is within conveniently walking distance of both USC's campus.Built in 1924, this investment consists of a streamlined unit mix of (4) 3 bedroom / 1 bathroom units that is ideal for student housing. This property offers potential investors reliable and increasing rents unusual for a rent controlled building in Los Angeles County due to the high tenant turnover rate associated with students.

Last Agent to Sell the Property

Jason Tuvia

Marcus & Millichap License #01772495 Listed on: 07/06/2017

Last Buyer's Agent

Jason Tuvia

Marcus & Millichap License #01772495 Listed on: 07/06/2017

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $20,419

Year Built

  • Built in 1913

Lot Details

  • 6,534 Sq Ft Lot

Interior Spaces

  • 4,680 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 12 Bedrooms
  • 4 Bathrooms

Parking

  • 6 Parking Spaces
  • Driveway

Utilities

  • Air Conditioning
  • Heating System Mounted To A Wall or Window

Community Details

  • 4 Units

Listing and Financial Details

  • Assessor Parcel Number 5040-023-022

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$20,419

Year Built

Built in 1913

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 4680
  • Price Per Unit: 381250.00
  • Stories: 2
  • Year Built: 1913
  • Number Of Photos: 3
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 12
  • Dining Room: 0
  • Family Room: 0
  • Total Bathrooms: 4.00
  • Den: 0
  • Price Per S Q F T: 325.85

Exterior Features

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

Garage/Parking

  • Parking Garage: Driveway - Concrete
  • Total Parking: 6

Utilities

  • Cooling: Air Conditioning
  • Electric Expense: 5577.00
  • Heating: Wall

Fee Information

  • Insurance Expense: 1872.00
  • Maintenance Expense: 2000.00
  • Trash Expense: 1500.00

Lot Info

  • Assessed Improvement Value: 270564
  • Assessed Land Value: 432903
  • Assessor Parcel Number: 5040-023-022
  • Geocode Override: No
  • Lot Size Area: 6534

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109
  • Gross Rent Multiplier: 13.66
  • Number Of Units: 4
  • Total Annual Expense: 32049
  • Type Of Units: apts
  • Vacancy Rate: 3

Tax Info

  • Tax Expense: 18300.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Nov 21, 2023
Sold by
Chang Michael Yu-Chia and Chang Taifang Jennifer
Bought by
Chang Michael Yu-Chia
Current Estimated Value
$2,242,770

Purchase Details

Closed on
Oct 30, 2019
Sold by
Maxtr
Bought by
Senti

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Interest Rate
3.75%

Purchase Details

Listed on
Jul 6, 2017
Closed on
Sep 28, 2017
Sold by
Nguyen Son Trung
Bought by
Chang Michael Yu Chia and Chang Taifang Jennifer
Seller's Agent
Jason Tuvia
Marcus & Millichap
Buyer's Agent
Jason Tuvia
Marcus & Millichap
List Price
$1,525,000
Sold Price
$1,476,000
Premium/Discount to List
-$49,000
-3.21%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
5.42%
Original Mortgage
$441,000
Interest Rate
5%
Mortgage Type
New Conventional

Purchase Details

Closed on
Apr 27, 2015
Sold by
Nguyen Son Trung
Bought by
Nguyen Son Trung and Ho Maggie

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$630,000
Interest Rate
3.64%
Mortgage Type
New Conventional

Purchase Details

Closed on
Aug 21, 2010
Sold by
Ho Maggie
Bought by
Nguyen Son and Ho Maggie

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$464,000
Interest Rate
4.52%
Mortgage Type
New Conventional

Purchase Details

Closed on
Aug 20, 2010
Sold by
Nguyen Son
Bought by
Ho Maggie

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$464,000
Interest Rate
4.52%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jul 8, 2010
Sold by
Perlstein Ronald David and Perlstein Judith Ellen
Bought by
Ho Maggie

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$464,000
Interest Rate
4.52%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jun 29, 2009
Sold by
Rea Johnny
Bought by
Perlstein Ronald David

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$350,000
Interest Rate
5.62%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Jul 22, 2006
Sold by
Torres Adam
Bought by
Rea Johnny

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$800,000
Interest Rate
8.5%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
May 2, 2006
Sold by
Rea Cilvea
Bought by
Rea Johnny

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$200,000
Interest Rate
6.69%
Mortgage Type
Credit Line Revolving

Purchase Details

Closed on
Dec 12, 2000
Sold by
Southern Assets Llc
Bought by
Torres Adam

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$220,500
Interest Rate
9.12%
Mortgage Type
Purchase Money Mortgage
Source: Public Records

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
Chang Michael Yu-Chia -- Accommodation/Courtesy Recordi
Senti -- --
Chang Michael Yu Chia $1,476,000 Ticor Title
Nguyen Son Trung -- Equity Title Company
Nguyen Son -- None Available
Ho Maggie -- Provident Title Company
Ho Maggie $650,000 Provident Title Company
Perlstein Ronald David $500,000 Chicago Title Co
Rea Johnny $1,000,000 Alliance Title
Rea Johnny -- Alliance Title
Torres Adam -- Investors Title Company
Torres Adam -- Investors Title Company
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Senti --
Previous Owner Chang Michael Yu Chia $441,000
Previous Owner Nguyen Son Trung $630,000
Previous Owner Ho Maggie $464,000
Previous Owner Perlstein Ronald David $350,000
Previous Owner Rea Johnny $800,000
Previous Owner Rea Johnny $200,000
Previous Owner Torres Adam $317,000
Previous Owner Torres Adam $455,000
Previous Owner Torres Adam $114,000
Previous Owner Torres Adam $240,200
Previous Owner Torres Adam $220,500
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
10/06/2017 10/06/17 Sold $1,476,000 -3.2% $315 / Sq Ft
08/04/2017 08/04/17 For Sale $1,525,000 +3.3% $326 / Sq Ft
07/10/2017 07/10/17 Off Market $1,476,000 -- --
07/06/2017 07/06/17 For Sale $1,525,000 -- $326 / 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 $20,419 $1,679,431 $1,007,659 $671,772
2024 $20,419 $1,646,501 $987,901 $658,600
2023 $20,030 $1,614,218 $968,531 $645,687
2022 $19,110 $1,582,568 $949,541 $633,027
2021 $18,861 $1,551,538 $930,923 $620,615
2019 $18,301 $1,505,520 $903,312 $602,208
2018 $18,151 $1,476,000 $885,600 $590,400
2016 $8,811 $703,467 $432,903 $270,564
2015 $8,687 $692,901 $426,401 $266,500
2014 -- $679,329 $418,049 $261,280
Source: Public Records

Agents Affiliated with this Home

  • Jason Tuvia

    Seller's Agent in 2017

    Jason Tuvia

    Marcus & Millichap

    (818) 212-2700

    1 in this area

    111 Total Sales

    Jason Tuvia
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Map

Source: The MLS

MLS Number: 17-249056

The MLS

APN: 5040-023-022

California Los Angeles County Los Angeles 90007 Adams-Normandie

3023 S Budlong Ave, Los Angeles, CA

This home is located at 3023 S Budlong Ave, Los Angeles, CA 90007 since 06 July 2017 and is currently estimated at $2,242,770, approximately $479 per square foot. This property was built in 1913. 3023 S Budlong Ave is a home located in Los Angeles County with nearby schools including John W. Mack Elementary School, Manual Arts Senior High School, and Stem Preparatory Academy.

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