$2,900,000

Estimated payment $16,580/month

Total Views 12,436
6 Beds
4 Baths
2,793 Sq Ft
$1,038 Price per Sq Ft

Highlights

  • Air Conditioning
  • Laundry Room
  • 4 Car Garage

About This Home

Pride of ownership four-unit building on Motor Avenue in the heart of Palms. Three stand-alone homes, each with their own water heaters, mini split air conditioning and heating units, and washer/dryer hook-ups and a fourth unit over the rear garages. The updated front house has two bedrooms and one bath and the unit over the garages also has two bedrooms and one bath. The other two units each have one bedroom and one bathroom and one of the units was recently renovated. Four garage spaces off the rear alley plus a store room that is used by the owner. Each unit is separately metered for gas and electricity and the owner pays for water and gardener. The lot is 7,500 square feet (50' X 150') to a 20' alley and the zoning is MU-EC (Mixed Use Exposition Corridor), which may allow for significant development opportunities. Buyers are encouraged to check with the city of LA for more information on allowed uses, allowed maximum height, and density bonuses. The property has a Tier 3 TOC designation.

Listing Agent

Dannie Cavanaugh

Cavanaugh Realtors License #00576151 Listed on: 02/26/2024

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $13,547

Year Built

  • Built in 1942

Lot Details

  • 7,502 Sq Ft Lot
  • Lot Dimensions are 50 x 150

Parking

  • 4 Car Garage
  • Garage Door Opener

Home Design

  • Split Level Home

Interior Spaces

  • 2,793 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 4 Bathrooms

Utilities

  • Air Conditioning

Community Details

  • 4 Buildings
  • 4 Units

Listing and Financial Details

  • The owner pays for water, gardener
  • Assessor Parcel Number 4314-008-010

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$13,547

Year Built

Built in 1942

Lot Details

0

Parking

4

Listing Details

  • Property Type: Residential Income
  • Levels: Multi/Split
  • Street Number Display: Yes
  • Living Area: 2793
  • Lot Acreage: 0.1725
  • Lot Dimensions: 50 x 150
  • Stories: 2
  • Year Built: 1942
  • Number Of Photos: 31
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 6
  • Laundry: In Unit, Inside
  • Total Bathrooms: 4.00
  • Price Per S Q F T: 1038.31

Exterior Features

  • Other Structures: None

Garage/Parking

  • Garage Spaces: 4
  • Covered Parking: 4
  • Garage Structures: 1
  • Parking Garage: Door Opener, Garage, Covered Parking
  • Total Parking: 4

Utilities

  • Cooling: Air Conditioning

Lot Info

  • Assessed Improvement Percent: 20.00
  • Assessed Improvement Value: 211269
  • Assessed Land Percent: 80
  • Assessed Land Value: 845092
  • Total Assessed Value: 1056361
  • Assessor Parcel Number: 4314-008-010
  • Lot Size Area: 7502

Rental Info

  • Owner Pays: Water, Gardener
  • Tenant Pays: Gas, Electricity

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109
  • Gross Rent Multiplier: 21.90
  • Number Of Units: 4
  • Total Annual Expense: 45290
  • Type Of Units: 3 SFR, 1 apt
  • Vacancy Allow Percent: 3.00
  • Vacancy Rate: 3977

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





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 $13,547 $1,099,035 $879,232 $219,803
2024 $13,547 $1,077,487 $861,993 $215,494
2023 $13,294 $1,056,361 $845,092 $211,269
2022 $12,693 $1,035,649 $828,522 $207,127
2021 $12,530 $1,015,343 $812,277 $203,066
2019 $12,164 $985,230 $788,186 $197,044
2018 $12,024 $965,913 $772,732 $193,181
2016 $11,494 $928,408 $742,727 $185,681
2015 $11,330 $914,463 $731,571 $182,892
2014 $11,388 $896,551 $717,241 $179,310
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
02/26/2024 02/26/24 For Sale $2,900,000 +231.4% $1,038 / Sq Ft
02/14/2012 02/14/12 Sold $875,000 -2.7% $313 / Sq Ft
12/13/2011 12/13/11 Pending -- -- --
10/15/2011 10/15/11 For Sale $899,000 -- $322 / Sq Ft
Source: The MLS

Purchase History

Date Type Sale Price Title Company
Deed -- None Listed On Document
Grant Deed -- Equity Title
Grant Deed $875,000 North American Title Company
Interfamily Deed Transfer -- Fidelity Van Nuys
Interfamily Deed Transfer -- Fidelity Van Nuys
Interfamily Deed Transfer -- First American Title Co
Interfamily Deed Transfer -- First American Title Co
Interfamily Deed Transfer -- Provident Title
Grant Deed $170,000 North American Title Co
Grant Deed $170,000 North American Title Co
Interfamily Deed Transfer -- --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $200,000 New Conventional
Previous Owner $720,000 New Conventional
Previous Owner $580,000 Credit Line Revolving
Previous Owner $400,000 Purchase Money Mortgage
Previous Owner $650,000 Purchase Money Mortgage
Previous Owner $320,000 New Conventional
Previous Owner $272,000 Purchase Money Mortgage
Source: Public Records

Source: The MLS

MLS Number: 24-362585

The MLS

APN: 4314-008-010