NOT LISTED FOR SALE

349 E 68th St Los Angeles, CA 90003

Florence Neighborhood

Estimated Value: $513,000 - $834,000

5 Beds
2 Baths
1,798 Sq Ft
$400/Sq Ft Est. Value

Last Sold June 04, 2014

Last sale price $260,000 $145 Per Sq Ft

Est. 177% increase in value since last sale

Current estimated payment $4,097/month

110 Days on Market

Highlights

  • Gated Parking
  • Property is near park and public transit
  • Private Yard
  • Open Floorplan
  • Traditional Architecture
  • Living Room

About This Home

As of June 2014

"STANDARD SALE"... 2 SEPARATE, SPACIOUS HOUSES ON ONE LOT THAT ARE WELL KEPT. 3 BEDROOM BACK HOUSE AND 2 BEDROOM FRONT HOUSE. LONG TERM TENANTS. LOW MAINTENANCE INVESTMENT PROPERTIES. EACH HOME HAS ITS OWN LAUNDRY HOOK-UP. EACH HOME HAS ITS OWN SEPARATE ELECTRIC METER AND SEPARATE GAS METER. EACH TENANT IS RESPONSIBLE FOR THEIR OWN GAS AND ELECTRIC UTILITIES.TREMENDOUS INVESTMENT WITH POSITIVE CASH FLOW POTENTIAL. EXCELLENT INVESTMENT FOR AN INVESTOR SEEKING IMMEDIATE POSITIVE CASH FLOW. SOME UPGRADES HAVE BEEN COMPLETED BY SELLER. 2 CAR COVERED CARPORT FOR PARKING AND ADDITIONAL OFF STREET PARKING IS AVAILABLE. CLOSE TO SCHOOL, SHOPPING, COLLEGE, PARK, FREEWAY AND PUBLIC TRANSPORTATION. THIS IS A "STANDARD SALE" WITHOUT THE HASSLES OF A SHORT SALE, REO, FORECLOSURE PURCHASE OR UNCERTAINTY OF A PROBATE SALE. " STANDARD SALE"

Last Agent to Sell the Property

Dwight Heard

Heard Real Estate Company, Inc. License #00816094 Listed on: 01/21/2014

Last Buyer's Agent

Herschel Ramsey

R.S. Cooper & Assocs Realty License #01341425

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1923

Lot Details

  • 5,398 Sq Ft Lot
  • No Common Walls
  • Wood Fence
  • Block Wall Fence
  • Chain Link Fence
  • Rectangular Lot
  • Paved or Partially Paved Lot
  • Private Yard
  • Lawn
  • Back and Front Yard

Home Design

  • Traditional Architecture
  • Raised Foundation
  • Composition Roof
  • Wood Siding
  • Stucco

Interior Spaces

  • 1,798 Sq Ft Home
  • 1-Story Property
  • Open Floorplan
  • Living Room
  • Center Hall
  • Dishwasher
  • Carpet
  • Window Bars

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 2 Bathrooms

Laundry

  • Laundry Room
  • Laundry in Kitchen
  • Washer and Gas Dryer Hookup

Parking

  • 5 Parking Spaces
  • 2 Attached Carport Spaces
  • Parking Available
  • Driveway
  • Gated Parking
  • Paved Parking
  • RV Potential

Utilities

  • Floor Furnace
  • Wall Furnace

Additional Features

  • Exterior Lighting
  • Property is near park and public transit

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 7
  • Assessor Parcel Number 6011012013

Community Details

Overview

  • 2 Buildings
  • 2 Units

Building Details

  • Rent Control
  • 2 Separate Electric Meters
  • 2 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $480
  • Insurance Expense $1,050
  • Maintenance Expense $600
  • Water Sewer Expense $3,000
  • New Taxes Expense $4,373
  • Gross Income $1,925
  • Net Operating Income $13,597

Property Details

Home Type

Multi-Family

Year Built

Built in 1923

Lot Details

0

Listing Details

  • Assessments: Yes
  • Property Attached: No
  • Security: Window Bars
  • View: No
  • Water Sewer Expenses: 3000.00
  • Architectural Style: Traditional
  • Property Type: Residential Income
  • Gardener Expense: 480.00
  • Parcel Number: 6011012013
  • Year Built: 1923
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Interior Amenities: Open Floorplan
  • Stories: 1
  • Common Walls: No Common Walls
  • Flooring: Carpet
  • Appliances: Yes
  • Levels: One
  • Price Per Square Foot: 144.61
  • Room Type: All Bedrooms Down, Center Hall, Living Room, Main Floor Bedroom

Exterior Features

  • Foundation: Raised
  • Fencing: Block, Chain Link, Wood
  • Pool Private: No
  • Roof: Composition
  • Spa: No
  • Construction Materials: Stucco, Wood Siding

Garage/Parking

  • Carport Spaces: 2.00
  • Parking: Yes
  • Parking Features: Covered, Carport, Attached Carport, Concrete, Driveway, Gated, RV Potential
  • Total Parking Spaces: 5.00

Utilities

  • Utilities: Sewer Available
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Dishwasher
  • Heating Type: Floor Furnace, Wall Furnace
  • Laundry Features: Gas Dryer Hookup, In Kitchen, Inside, Individual Room, Washer Hookup
  • Water Source: Public

Condo/Co-op/Association

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

Lot Info

  • Lot Features: Back Yard, Front Yard, Lawn, Rectangular Lot, Paved, Park Nearby, Near Public Transit, Yard
  • Lot Size Sq Ft: 5398.00
  • Lot Size Acres: 0.1240

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Gross Income: 1925.00
  • Gross Scheduled Income: 23100.00
  • Insurance Expense: 1050.00
  • Lot Size Area: 5398.0000 Square Feet
  • Maintenance Expense: 600.00
  • Net Operating Income: 13597.00
  • Number Of Separate Electric Meters: 2
  • Number Of Separate Gas Meters: 2
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 2
  • Operating Expense: 9503.00
  • Rent Control: Yes
  • Total Actual Rent: 1925.00

Tax Info

  • New Taxes Expense: 4373.00
  • Tax Lot: 7
  • Tax Year: 2012

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 21, 2014
Closed on
May 30, 2014
Sold by
B1-2-B1 Investments Inc
Bought by
Majestic United Inc
Seller's Agent
Dwight Heard
Heard Real Estate Company, Inc.
Buyer's Agent
Herschel Ramsey
R.S. Cooper & Assocs Realty
List Price
$349,900
Sold Price
$260,000
Premium/Discount to List
-$89,900
-25.69%
Current Estimated Value
$719,321

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$459,321
Avg. Annual Appreciation
9.18%
Original Mortgage
$208,000
Interest Rate
4.25%
Mortgage Type
New Conventional

Purchase Details

Listed on
Jan 21, 2014
Closed on
May 5, 2014
Sold by
Blackmon Robert Charles
Bought by
B1-2-B1 Investments Inc and Majestic United Inc
Seller's Agent
Dwight Heard
Heard Real Estate Company, Inc.
Buyer's Agent
Herschel Ramsey
R.S. Cooper & Assocs Realty
List Price
$349,900
Sold Price
$260,000
Premium/Discount to List
-$89,900
-25.69%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$208,000
Interest Rate
4.25%
Mortgage Type
New Conventional

Purchase Details

Closed on
Apr 23, 2009
Sold by
Blackmon Nadeen
Bought by
Blackmon Robert Charles and Blackmon Family Trust

Purchase Details

Closed on
Feb 17, 2009
Sold by
Blackmon Milton K and Blackmon Nadeen
Bought by
Blackmon Nadeen

Purchase Details

Closed on
Jul 27, 2006
Sold by
Blackmon Milton K and Blackmon Nadeen
Bought by
Blackmon Milton K

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$180,000
Interest Rate
6.76%
Mortgage Type
New Conventional

Purchase Details

Closed on
Dec 9, 2004
Sold by
Blackmon Milton and Blackmon Nadeen
Bought by
Blackmon Milton K
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
Majestic United Inc -- Old Republic Title Company
B1-2-B1 Investments Inc $260,000 Old Republic Title Company
Blackmon Robert Charles -- None Available
Blackmon Nadeen -- None Available
Blackmon Milton K -- None Available
Blackmon Milton K -- Stewart Title
Blackmon Milton K -- Stewart Title Irvine
Blackmon Milton K -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Closed B1-2-B1 Investments Inc $208,000
Previous Owner Blackmon Milton K $180,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
06/04/2014 06/04/14 Sold $260,000 -25.7% $145 / Sq Ft
05/11/2014 05/11/14 Pending -- -- --
01/21/2014 01/21/14 For Sale $349,900 -- $195 / 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 $4,073 $318,711 $196,130 $122,581
2024 $4,073 $312,463 $192,285 $120,178
2023 $3,999 $306,337 $188,515 $117,822
2022 $3,819 $300,331 $184,819 $115,512
2021 $3,765 $294,444 $181,196 $113,248
2019 $3,656 $285,713 $175,823 $109,890
2018 $3,584 $280,112 $172,376 $107,736
2016 $3,412 $269,237 $165,684 $103,553
2015 $3,364 $265,194 $163,196 $101,998
2014 -- $36,957 $13,579 $23,378
Source: Public Records

Agents Affiliated with this Home

  • Dwight Heard

    Seller's Agent in 2014

    Dwight Heard

    Heard Real Estate Company, Inc.

    (562) 760-3130

    32 Total Sales

    Dwight Heard
    Section Image

  • H

    Buyer's Agent in 2014

    Herschel Ramsey

    R.S. Cooper & Assocs Realty

    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB14014069

California Regional Multiple Listing Service (CRMLS)

APN: 6011-012-013

California Los Angeles County Los Angeles 90003 Florence

349 E 68th St, Los Angeles, CA

Not Listed for Sale

MultiFamily

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