$2,405,000
SOLD FEB 13, 2025
7 Beds
6 Baths
7,606 Sq Ft
7,652 Sq Ft Lot

Recently Sold

$316 Per Sq Ft

6% Below List Price

161 Days on Market

Highlights

  • Property is near public transit
  • Landscaped
  • Rectangular Lot

About This Home

As of February 2025

The Mentone Apartments are a well maintained rent controlled property located in the City of Los Angeles right on the border of Culver City (and has a Culver City Zip Code). This property presents an astute investor a reposition opportunity as there is approximately 20% upside in rents. Additionally, there is a 2-car garage that can potentially be converted into an ADU. Soft-story retrofit requirement has been completed.

Last Agent to Sell the Property

Warren Berzack

Warren Lee Berzack Brokerage Phone: 818-269-2979 License #01329015 Listed on: 08/06/2024

Warren Lee Berzack

Last Buyer's Agent

Warren Berzack

Warren Lee Berzack Brokerage Phone: 818-269-2979 License #01329015 Listed on: 08/06/2024

Warren Lee Berzack

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1962

Lot Details

  • 7,652 Sq Ft Lot
  • Two or More Common Walls
  • Landscaped
  • Rectangular Lot

Parking

  • 3 Open Parking Spaces
  • 2 Car Garage
  • 6 Carport Spaces
  • Parking Available
  • Assigned Parking

Home Design

  • Apartment

Interior Spaces

  • 7,606 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 7 Bedrooms
  • 6 Bathrooms

Outdoor Features

  • Exterior Lighting

Location

  • Property is near public transit
  • Urban Location

Listing and Financial Details

  • Legal Lot and Block 10 / 1
  • Tax Tract Number 1
  • Assessor Parcel Number 4208007007
  • $1,279 per year additional tax assessments

Community Details

Overview

  • 9 Units

Building Details

  • Rent Control
  • 10 Separate Electric Meters
  • 10 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $2,000
  • Fuel Expense $2,000
  • Gardener Expense $2,700
  • Insurance Expense $6,687
  • Maintenance Expense $11,409
  • Other Expense $3,900
  • Pest Control $729
  • Trash Expense $4,908
  • Water Sewer Expense $15,210
  • New Taxes Expense $31,875
  • Operating Expense $82,378
  • Gross Income $203,593
  • Net Operating Income $115,107

Property Details

Home Type

Multi-Family

Year Built

Built in 1962

Lot Details

0

Parking

2

Listing Details

  • CapRate: 4.51
  • Price Per Unit: 283333
  • Property Attached: Yes
  • Water Sewer Expenses: 15210.00
  • Zoning: LAR3
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Gardener Expense: 2700.00
  • Parcel Number: 4208007007
  • Year Built: 1962
  • Special Features: None

Interior Features

  • Stories: 2
  • Entry Location: 1
  • Common Walls: 2+ Common Walls
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 316.20

Exterior Features

  • Pool Private: No

Garage/Parking

  • Carport Spaces: 6.00
  • Garage Spaces: 2.00
  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 11.00
  • Uncovered Spaces: 3.00

Utilities

  • Laundry: No
  • Pest Control Expense: 729.00
  • Sewer: Public Sewer
  • Trash Expense: 4908.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Sidewalks, Storm Drains, Street Lights, Urban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Landscaped, Rectangular Lot, Near Public Transit
  • Lot Size Sq Ft: 7652.00
  • Lot Size Acres: 0.1757

Multi Family

  • Electric Expense: 2000.00
  • Fuel Expense: 2000.00
  • Gross Income: 203593.00
  • Gross Multiplier: 12.52
  • Gross Operating Income: 197486.00
  • Gross Scheduled Income: 203593.00
  • Insurance Expense: 6687.00
  • Lot Size Area: 7652.0000 Square Feet
  • Maintenance Expense: 11409.00
  • Net Operating Income: 115107.00
  • Number Of Separate Electric Meters: 10
  • Number Of Separate Gas Meters: 10
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 9
  • Operating Expense: 82378.00
  • Other Expense: 3900.00
  • Other Expense Description: Misc
  • Rent Control: Yes
  • Total Expenses: 82378.00
  • Vacancy Allowance: 6108

Tax Info

  • New Taxes Expense: 31875.00
  • Tax Block: 1
  • Tax Census Tract: 2699.03
  • Tax Lot: 10
  • Tax Tract Number: 1
  • TaxOtherAnnualAssessmentAmount: 1279.00

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
02/13/2025 02/13/25 Sold $2,405,000 -5.7% $316 / Sq Ft
01/14/2025 01/14/25 Pending -- -- --
11/14/2024 11/14/24 For Sale $2,550,000 0.0% $335 / Sq Ft
11/04/2024 11/04/24 Pending -- -- --
10/10/2024 10/10/24 Price Changed $2,550,000 -5.4% $335 / Sq Ft
08/16/2024 08/16/24 Price Changed $2,695,000 +3.9% $354 / Sq Ft
08/06/2024 08/06/24 For Sale $2,595,000 -- $341 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SR24162320

California Regional Multiple Listing Service (CRMLS)