$1,900,000
SOLD FEB 25, 2020
6 Beds
5 Baths
3,843 Sq Ft
6,595 Sq Ft Lot

Recently Sold

$494 Per Sq Ft

21% Below List Price

69 Days on Market

Highlights

  • Great Room
  • No HOA
  • Tile Countertops
  • Linwood E. Howe Elementary School Rated A-
  • Den
  • Laundry Room

About This Home

As of February 2020

Great location 1/2 block away, walking distance to the historical charming Helms Bakery District. This "trendy area" allows the owner's to live close to everything within walking distance of Award-Winning Restaurants, Stores, Sony Studios, Downtown Access, Culver City Station, 405 & 10 freeway and train. This four-plex and (studio) has many features such as new exterior paint, and white picket fence. There is a separate owner's unit, with 3 bedrooms, 2 baths, cozy light bright living room, fireplace, hardwood floors, and ceiling fan bay window. Upstairs are 3 spacious apartments each with their own balcony. The 3 Units in the back all are 1 bedrooms & 1 baths. Below the apartments are 6 open carports and upper cabinets with individual storages. Apartment #2 has its own private staircase, with newer kitchen & bathroom, laminate floors. Apartment #3,#4 are in original condition with basic upgrades. Onsite community laundry facility. These units are very charming, and there is a unique charm and character. Or if you are an investor a great opportunity to build, on the street be sure to look at the new construction on the street.
Potential for a rent increase Buyer to do all their investigations.

Last Agent to Sell the Property

Ramsey Oliveras

Estate Properties License #01141551 Listed on: 10/28/2019

Estate Properties

Last Buyer's Agent

Kristine Ng

COMPASS License #01982796

COMPASS

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $27,856

Year Built

  • Built in 1928

Lot Details

  • 6,595 Sq Ft Lot
  • 1 Common Wall
  • Front Yard
  • Density is 2-5 Units/Acre

Home Design

  • Quadruplex

Interior Spaces

  • 3,843 Sq Ft Home
  • Ceiling Fan
  • Great Room
  • Living Room with Fireplace
  • Den
  • Laminate Flooring

Kitchen

  • Gas Cooktop
  • Tile Countertops
  • Disposal

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 5 Bathrooms

Laundry

  • Laundry Room
  • Leased Washer and Dryer

Parking

  • 6 Parking Spaces
  • 6 Attached Carport Spaces
  • Driveway Level
  • Paved Parking
  • On-Street Parking

Utilities

  • Heating System Uses Natural Gas
  • Wall Furnace
  • Sewer Not Available

Listing and Financial Details

  • Tax Lot 10
  • Assessor Parcel Number 4312028007

Community Details

Overview

  • No Home Owners Association
  • 4 Units

Amenities

  • Laundry Facilities

Building Details

  • 5 Leased Units
  • Rent Control
  • 5 Separate Electric Meters
  • 5 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $688
  • Fuel Expense $418
  • Gardener Expense $1,320
  • Insurance Expense $1,673
  • Maintenance Expense $1,302
  • Pest Control $420
  • Professional Management Expense $2,400
  • Supplies Expense $256
  • Water Sewer Expense $1,326
  • New Taxes Expense $10,954
  • Operating Expense $20,757
  • Gross Income $107,463
  • Net Operating Income $107,463

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$27,856

Year Built

Built in 1928

Lot Details

0

Listing Details

  • Assessments: No
  • CapRate: 5.00
  • Improvements Amount: 173634
  • Professional Management Expense: 2400.00
  • Property Attached: Yes
  • Supplies Expense: 256.00
  • View: No
  • Water Sewer Expenses: 1326.00
  • Zoning: CCR4YY
  • Property Sub Type: Quadruplex
  • Property Type: Residential Income
  • Gardener Expense: 1320.00
  • Parcel Number: 4312028007
  • Year Built: 1928
  • Special Features: None

Interior Features

  • Fireplace: Yes
  • Interior Amenities: Ceiling Fan(s), Tile Counters
  • Common Walls: 1 Common Wall
  • Flooring: Laminate
  • Appliances: Yes
  • Fireplace Features: Living Room
  • Levels: One, Two
  • Price Per Square Foot: 494.41
  • Room Type: Den, Great Room, Kitchen, Living Room

Exterior Features

  • Pool Private: No
  • Spa: No

Garage/Parking

  • Carport Spaces: 6.00
  • Parking Features: Carport, Attached Carport, Covered, Driveway, Concrete, Driveway Level, Street
  • Total Parking Spaces: 6.00

Utilities

  • Utilities: Electricity Available, Natural Gas Available, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Disposal, Gas Range, Gas Cooktop
  • Electric: Standard
  • Heating Type: Wall Furnace, Natural Gas
  • Laundry Features: Common Area, Individual Room
  • Pest Control Expense: 420.00
  • Sewer: None
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Land Value: 451435
  • Lot Features: 2-5 Units/Acre, Front Yard
  • Lot Size Sq Ft: 6595.00
  • Lot Size Acres: 0.1514

Multi Family

  • Electric Expense: 688.00
  • Fuel Expense: 418.00
  • Gross Income: 107463.00
  • Gross Multiplier: 16.76
  • Gross Operating Income: 128220.00
  • Gross Scheduled Income: 128220.00
  • Insurance Expense: 1673.00
  • Laundry Equipment Own Lease: Lease
  • Lot Size Area: 6595.0000 Square Feet
  • Maintenance Expense: 1302.00
  • Net Operating Income: 107463.00
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 5
  • Number Of Units Total: 4
  • Operating Expense: 20757.00
  • Operating Expense Percent: 16.00
  • Rent Control: Yes
  • Total Actual Rent: 10685.00
  • Total Expenses: 20757.00

Tax Info

  • New Taxes Expense: 10954.00
  • Tax Census Tract: 7024.00
  • Tax Lot: 10
  • Tax Tract Number: LEHOSK

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 28, 2019
Closed on
Feb 4, 2020
Sold by
Hains Cindy M and Cindy M Hains Trust
Bought by
Chen Andy and Kuo Cynthia
Seller's Agent
Ramsey Oliveras
Estate Properties
Buyer's Agent
Kristine Ng
COMPASS
List Price
$2,400,000
Sold Price
$1,900,000
Premium/Discount to List
-$500,000
-20.83%
Current Estimated Value
$2,427,377

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$527,377
Avg. Annual Appreciation
4.63%
Original Mortgage
$1,330,000
Interest Rate
3.6%
Mortgage Type
New Conventional

Purchase Details

Closed on
Aug 24, 2017
Sold by
Hains Cindy M
Bought by
Hains Cindy M and Cindy M Hains Trust

Purchase Details

Closed on
Jun 11, 2002
Sold by
Hains Cindy M
Bought by
Hains Cindy M

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$21,000
Interest Rate
6.78%
Mortgage Type
Credit Line Revolving

Purchase Details

Closed on
Aug 21, 1998
Sold by
Berne Artie S
Bought by
Hains Cindy M and Hains Arlee M

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$312,000
Interest Rate
6.6%
Source: Public Records

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Type Sale Price Title Company
Grant Deed $1,900,000 Ticor Title Company
Interfamily Deed Transfer -- None Available
Interfamily Deed Transfer -- Southland Title Corporation
Grant Deed $390,000 Fidelity National Title Ins
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $1,298,500 New Conventional
Closed $1,330,000 New Conventional
Previous Owner $533,000 New Conventional
Previous Owner $530,000 Unknown
Previous Owner $21,000 Credit Line Revolving
Previous Owner $359,000 Unknown
Previous Owner $312,000 No Value Available
Closed $58,500 No Value Available
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
02/25/2020 02/25/20 Sold $1,900,000 -20.8% $494 / Sq Ft
01/05/2020 01/05/20 Pending -- -- --
10/28/2019 10/28/19 For Sale $2,400,000 -- $625 / 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
2025 $27,856 $2,077,922 $1,531,102 $546,820
2024 $27,856 $2,037,180 $1,501,081 $536,099
2023 $26,835 $1,997,237 $1,471,649 $525,588
2022 $25,455 $1,958,077 $1,442,794 $515,283
2021 $27,137 $1,919,684 $1,414,504 $505,180
2020 $11,094 $650,320 $469,672 $180,648
2019 $10,843 $637,569 $460,463 $177,106
2018 $10,433 $625,069 $451,435 $173,634
2016 $9,546 $600,799 $433,906 $166,893
2015 $9,507 $591,776 $427,389 $164,387
2014 $9,461 $580,185 $419,018 $161,167
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PV19241235

California Regional Multiple Listing Service (CRMLS)

APN: 4312-028-007