NOT LISTED FOR SALE
13 Beds
6 Baths
3,510 Sq Ft
0.43 Acre Lot

Sale Details

Date Sold: December 7, 2020

Last sale price $1,350,000 $385 Per Sq Ft

12 Days on Market

Highlights

  • 0.43 Acre Lot
  • Ground Level Unit
  • 1-Story Property
  • Lincoln High School Rated A-
  • Bungalow

About This Home

As of December 2020

3311 - 3317 Smith St is an ideal "value-add" investment that offers a savvy Buyer the opportunity to add value two ways - through increasing rents and also by building 2-5 new units on the unused portion of the lot. Given the low average rents and ability to build 2-5 new units, the property offers a whopping 200%+ upside in rental income! (Rental upside depends on size of units built, finishes, and upgrades in existing 6 units -Buyer to investigate and run own financial analysis). Additionally, the property has low expenses c/o separate water meters and a great location with hillside views and more. Located 1/3 mile from Metro Gold Line Station at Heritage Square, and across from newly approved mixed use development on Pasadena Ave of 468 Units + 16,000 SF of retail. Full Marketing Package available upon request.

Last Agent to Sell the Property

Dana Coronado

Compass License #01746702 Listed on: 10/21/2020

Compass

Last Buyer's Agent

Tiffany Yamamoto

Century 21 Masters License #01505518

Century 21 Masters
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Home Details

Home Type

  • Single Family

Year Built

  • Built in 1937

Lot Details

  • 18,596 Sq Ft Lot
  • Property is zoned LARD2

Home Design

  • Bungalow
  • Raised Foundation
  • Composition Roof
  • Stucco

Interior Spaces

  • 3,510 Sq Ft Home
  • 1-Story Property
  • Disposal

Bedrooms and Bathrooms

  • 13 Bedrooms
  • 6 Bathrooms

Home Security

  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Parking

  • 12 Open Parking Spaces
  • 6 Parking Spaces

Location

  • Ground Level Unit

Utilities

  • Window Unit Cooling System
  • Heating System Mounted To A Wall or Window
  • Property is located within a water district
  • Gas Water Heater

Community Details

  • 6 Units
  • Rent Control

Listing and Financial Details

  • Tenant pays for electricity, gas, water, trash collection
  • Assessor Parcel Number 5207-001-007

Home Details

Home Type

Single Family

Year Built

Built in 1937

Lot Details

0.43 Acres

Listing Details

  • Property Type: Residential Income
  • Style: Bungalow
  • Levels: Ground Level
  • Street Number Display: Yes
  • ADA Compliant: No
  • Additional Assessor Parcel Numbers: No
  • Advertising Remarks: 3311 - 3317 Smith St is an ideal "value-add" investment that offers a savvy Buyer the opportunity to add value two ways - through increasing rents and also by building 2-5 new units on the unused portion of the lot. Given the low average rents and ability to build 2-5 new units (plus potential ADU), the property offers well over 200%+ upside in rental income! (Rental upside depends on size of units built, finishes, and upgrades in existing 6 units -Buyer to investigate and run own financial analysis). Additionally, the property has low expenses c/o separate water meters and a great location with hillside views and more. Located 1/3 mile from Metro Gold Line Station at Heritage Square, and across from newly approved mixed use development on Pasadena Ave of 468 Units + 16,000 SF of retail. Full Marketing Package available upon request.
  • Alley: No
  • Entry Location: Ground Level w/steps
  • Living Area: 3510
  • Lot Acreage: 0.4269
  • Price Per Unit: 236667.00
  • Probate: No
  • Stories: 1
  • Year Built: 1937
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: Detached

Interior Features

  • Number Dishwasher: 0
  • Flooring: Mixed
  • Bedrooms: 13
  • Common Walls: Detached/No Common Walls
  • Total Bathrooms: 6.00
  • Equipment: Hood Fan, Garbage Disposal
  • Price Per S Q F T: 404.56

Exterior Features

  • Construction: Stucco
  • Other Structures: None
  • Tennis Court Y/N: No
  • Foundation Details: Raised
  • Pool: No
  • Roof: Composition
  • Spa Yn: No

Garage/Parking

  • Other Spaces: 12
  • Parking Garage: Uncovered
  • Total Parking: 6

Utilities

  • Water Heater: Gas
  • Cooling: Window Unit(s)
  • Heating: Wall Gas
  • Number Electric Meters: 6
  • Number Gas Meters: 6
  • Number Water Meters: 6
  • Security: Carbon Monoxide Detector(s), Smoke Detector
  • Water: District
  • Water Heaters: Yes

Lot Info

  • Assessed Land Percent: 0
  • Assessor Parcel Number: 5207-001-007
  • Lot Description: 5 + Lots
  • Lot Size Area: 18596

Rental Info

  • Number Leased: 6
  • Monthly Gross Income: 6663.00
  • Rent Control: Yes
  • Tenant Pays: Electricity, Gas, Water, Trash Collection

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109, 2110, 2111
  • Gross Rent Multiplier: 17.76
  • Number Of Units: 6
  • Rent Control: 100
  • Type Of Units: Multifamily
  • Vacancy Allow: 0
  • Vacancy Allow Percent: 0.00

MLS Schools

  • School District: Los Angeles Unified

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 21, 2020
Closed on
Nov 9, 2020
Sold by
Bought by
Seller's Agent
Dana Coronado
Compass
Buyer's Agent
Tiffany Yamamoto
Century 21 Masters
List Price
$1,420,000
Sold Price
$1,350,000
Premium/Discount to List
-$70,000
-4.93%

Purchase Details

Closed on
Nov 1, 2000
Sold by
Bought by

Purchase Details

Closed on
Sep 2, 1998
Sold by
Bought by
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$1,350,000 Westminster Title Company
-- --
-- --
-- --
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $515,065
Open $3,200,000
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
12/07/2020 12/07/20 Sold $1,350,000 -4.9% $385 / Sq Ft
11/02/2020 11/02/20 Pending -- -- --
10/21/2020 10/21/20 For Sale $1,420,000 -- $405 / Sq Ft
Source: The MLS

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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 $18,801 $1,461,282 $947,128 $514,154
2024 $18,595 $1,432,630 $928,557 $504,073
2023 $18,253 $1,404,540 $910,350 $494,190
2022 $17,449 $1,377,000 $892,500 $484,500
2021 $17,238 $1,350,000 $875,000 $475,000
2020 $9,141 $647,648 $504,672 $142,976
2019 $8,824 $634,950 $494,777 $140,173
2018 $8,582 $622,501 $485,076 $137,425
2016 $8,166 $598,331 $466,241 $132,090
2015 $8,060 $589,344 $459,238 $130,106
2014 $8,125 $577,801 $450,243 $127,558
Source: Public Records

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Map

Source: The MLS

MLS Number: 20-649960

The MLS
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