NOT LISTED FOR SALE

3501 12th Ave Los Angeles, CA 90018

Jefferson Park Neighborhood

Estimated Value: $870,000 - $1,965,000

6 Beds
6 Baths
3,874 Sq Ft
$316/Sq Ft Est. Value

Last Sold June 21, 2018

Last sale price $1,520,000 $392 Per Sq Ft

Est. 19% decrease in value since last sale

Current estimated payment $7,442/month

9 Days on Market

Highlights

  • Fireplace in Primary Bedroom
  • Spanish Architecture
  • 6 Car Direct Access Garage
  • Wood Flooring
  • No HOA
  • 1-Story Property

About This Home

As of June 2018

3501-3505 12th Ave. (2) Tri-plexes totaling 6 units. All 1+1s. The Seller is occupying one unit which is why the current cap rate is low. Seller will vacate upon COE. With the Seller's unit leased, the cap rate becomes 3.84% based on the asking price. The six units are comprised of two parcels, each with three units. This arrangement allows for residential financing which means the buyer can get a lower interest rate and pay off the loan over 25 or 30 years compared to commercial loans due and payable within 5, 7 or 10 years. REQUEST OFFERING MEMORANDUM FOR DETAILS.

Last Agent to Sell the Property

John Gessford

Lee & Associates Realty Group License #01137479 Listed on: 04/24/2018

Lee & Associates Realty Group

Co-Listed By

Jonette Landry

First Team Real Estate License #01950972

Last Buyer's Agent

Roddy de la Garza

eXp Realty of Greater Los Angeles, Inc. License #01995374

eXp Realty of Greater Los Angeles, Inc.

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $10,918

Year Built

  • Built in 1937

Lot Details

  • 5,300 Sq Ft Lot
  • No Common Walls
  • Density is 6-10 Units/Acre
  • 5044-006-013

Parking

  • 6 Car Direct Access Garage
  • Parking Available

Home Design

  • Spanish Architecture

Interior Spaces

  • 3,874 Sq Ft Home
  • 1-Story Property
  • Wood Burning Fireplace
  • Family Room with Fireplace
  • Wood Flooring
  • Fireplace in Kitchen

Bedrooms and Bathrooms

  • 6 Bedrooms
  • Fireplace in Primary Bedroom
  • 6 Bathrooms

Outdoor Features

  • Exterior Lighting

Utilities

  • Natural Gas Connected
  • Septic Type Unknown

Listing and Financial Details

  • Tax Lot 96
  • Tax Tract Number 7127
  • Assessor Parcel Number 5044006011

Community Details

Overview

  • No Home Owners Association
  • 3 Buildings
  • 6 Units

Building Details

  • 5 Leased Units
  • Rent Control
  • 6 Separate Electric Meters
  • 6 Separate Gas Meters
  • 1 Separate Water Meter
  • Insurance Expense $2,000
  • Trash Expense $3,600
  • Water Sewer Expense $3,600
  • New Taxes Expense $15,750
  • Operating Expense $24,950
  • Gross Income $67,968
  • Net Operating Income $43,018

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$10,918

Year Built

Built in 1937

Lot Details

0

Parking

6

Listing Details

  • CapRate: 3.84
  • Property Attached: No
  • Road Surface Type: Paved
  • Water Sewer Expenses: 3600.00
  • Zoning: LARD1.5
  • Architectural Style: Spanish
  • Property Type: Residential Income
  • Parcel Number: 5044006011
  • Year Built: 1937
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: Yes
  • Stories: 1
  • Common Walls: No Common Walls
  • Flooring: Wood
  • Fireplace Features: Family Room, Kitchen, Master Bedroom, Wood Burning
  • Levels: One
  • Price Per Square Foot: 392.36

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 6.00
  • Parking: Yes
  • Parking Features: Direct Garage Access
  • Total Parking Spaces: 6.00

Utilities

  • Utilities: Electricity Connected, Natural Gas Connected, Water Available
  • Laundry: No
  • Electric: Standard
  • Sewer: Unknown
  • Trash Expense: 3600.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Street Lights

Lot Info

  • Additional Parcels: Yes
  • Additional Parcels Description: 5044-006-013
  • Land Lease: No
  • Lot Features: 6-10 Units/Acre
  • Lot Size Sq Ft: 5300.00

Multi Family

  • Gross Income: 67968.00
  • Gross Scheduled Income: 67968.00
  • Insurance Expense: 2000.00
  • Net Operating Income: 43018.00
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 5
  • Number Of Units Total: 6
  • Operating Expense: 24950.00
  • Rent Control: Yes
  • Total Actual Rent: 5664.00
  • Total Expenses: 24950.00

Tax Info

  • New Taxes Expense: 15750.00
  • Tax Census Tract: 2193.00
  • Tax Lot: 96
  • Tax Tract Number: 7127

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 24, 2018
Closed on
May 14, 2018
Sold by
Elam Duana
Bought by
Boden David Edgar and Boden Robin Perigoe
Seller's Agent
John Gessford
Lee & Associates Realty Group
Buyer's Agent
Roddy de la Garza
eXp Realty of Greater Los Angeles, Inc.
List Price
$1,500,000
Sold Price
$1,520,000
Premium/Discount to List
$20,000
1.33%
Current Estimated Value
$1,226,017

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$293,983
Avg. Annual Appreciation
-5.46%
Original Mortgage
$453,250
Interest Rate
4.5%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jan 18, 2006
Sold by
Palmer Walter
Bought by
Elam Duana

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$204,500
Interest Rate
6.28%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Jan 13, 2006
Sold by
Elam Duana
Bought by
Palmer Walter

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$204,500
Interest Rate
6.28%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Jun 15, 2004
Sold by
Palmer Walter
Bought by
Elam Duana

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$190,000
Interest Rate
7.8%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Jun 14, 2004
Sold by
Elam Duana
Bought by
Palmer Walter

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$190,000
Interest Rate
7.8%
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
Boden David Edgar $760,000 Landwood Title
Elam Duana -- None Available
Palmer Walter -- Financial Title Co Gardena
Elam Duana -- --
Palmer Walter -- United Title Company-La
Palmer Walter -- United Title Company-La
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Boden David Edgar $462,000
Closed Boden David Edgar $453,250
Previous Owner Palmer Walter $204,500
Previous Owner Palmer Walter $190,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/21/2018 06/21/18 Sold $1,520,000 +1.3% $392 / Sq Ft
06/18/2018 06/18/18 For Sale $1,500,000 0.0% $387 / Sq Ft
05/03/2018 05/03/18 Pending -- -- --
04/24/2018 04/24/18 For Sale $1,500,000 -- $387 / 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 $10,918 $864,746 $750,965 $113,781
2024 $10,918 $847,791 $736,241 $111,550
2023 $10,720 $831,168 $721,805 $109,363
2022 $10,247 $814,871 $707,652 $107,219
2021 $19,510 $1,597,790 $1,282,437 $315,353
2019 $18,936 $1,550,400 $1,244,400 $306,000
2018 $2,201 $131,267 $61,882 $69,385
2016 $2,060 $126,172 $59,480 $66,692
2015 $2,038 $124,278 $58,587 $65,691
2014 $2,066 $121,845 $57,440 $64,405
Source: Public Records

Agents Affiliated with this Home

  • John Gessford

    Seller's Agent in 2018

    John Gessford

    Lee & Associates Realty Group

    (949) 278-6645

    10 Total Sales

    John Gessford
    Section Image

  • J

    Seller Co-Listing Agent in 2018

    Jonette Landry

    First Team Real Estate

    Section Image

  • R

    Buyer's Agent in 2018

    Roddy de la Garza

    eXp Realty of Greater Los Angeles, Inc.

    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC18094468

California Regional Multiple Listing Service (CRMLS)

APN: 5044-006-011

California Los Angeles County Los Angeles 90018 Jefferson Park

3501 12th Ave, Los Angeles, CA

This home is located at 3501 12th Ave, Los Angeles, CA 90018 since 24 April 2018 and is currently estimated at $1,226,017, approximately $316 per square foot. This property was built in 1937. 3501 12th Ave is a home located in Los Angeles County with nearby schools including Sixth Avenue 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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