NOT LISTED FOR SALE

401 Park Front Walk Los Angeles, CA 90011

South Park Neighborhood

Estimated Value: $1,488,229 - $1,913,000

2 Beds
1 Bath
7,488 Sq Ft
$227/Sq Ft Est. Value

Last Sold April 28, 2015

Last sale price $850,000 $114 Per Sq Ft

Est. 100% increase in value since last sale

Current estimated payment $10,057/month

13 Days on Market

Highlights

  • 0.28 Acre Lot
  • Property is near a park
  • 5-minute walk to South Park Recreation Center

About This Home

As of April 2015

Great cash flow & opportunity! Gated 8 units with a good mix that offers a 4-plex & 2 duplexes. Upside in rent and great infield area next to employment centers. Near park, shops & restaurants.

Last Agent to Sell the Property

Sholeh Yarjani

Berkshire Hathaway HomeService License #01100266 Listed on: 03/10/2015

Berkshire Hathaway HomeService

Co-Listed By

Bill Mulkey

TR Wealth Management Inc. License #00986020

Last Buyer's Agent

Bill Mulkey

TR Wealth Management Inc. License #00986020

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $13,873

Year Built

  • Built in 1907

Lot Details

  • 0.28 Acre Lot
  • Two or More Common Walls
  • Density is 6-10 Units/Acre

Parking

  • 9 Car Garage

Home Design

  • 7,488 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 1 Bathroom

Additional Features

  • Gas Oven
  • Property is near a park

Listing and Financial Details

  • Tenant pays for electricity, gas, trash collection
  • Tax Lot 26
  • Tax Tract Number 2293
  • Assessor Parcel Number 5109021048

Community Details

Overview

  • 3 Buildings
  • 8 Units

Building Details

  • Rent Control
  • 8 Separate Electric Meters
  • 8 Separate Gas Meters
  • Gardener Expense $1,050
  • Insurance Expense $2,995
  • Maintenance Expense $8,042
  • Pest Control $456
  • Professional Management Expense $6,201
  • Supplies Expense $3,183
  • Trash Expense $2,069
  • Water Sewer Expense $2,960
  • New Taxes Expense $12,488
  • Gross Income $9,066
  • Net Operating Income $63,507

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$13,873

Year Built

Built in 1907

Lot Details

0

Parking

9

Listing Details

  • CapRate: 6.87
  • Professional Management Expense: 6201.00
  • Property Attached: Yes
  • Supplies Expense: 3183.00
  • Water Sewer Expenses: 2960.00
  • Property Type: Residential Income
  • Gardener Expense: 1050.00
  • Parcel Number: 5109021048
  • Year Built: 1907
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Appliances: Yes
  • Price Per Square Foot: 113.51

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 9.00
  • Total Parking Spaces: 9.00

Utilities

  • Utilities: Sewer Connected
  • Appliances: Gas Oven
  • Pest Control Expense: 456.00
  • Trash Expense: 2069.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Sidewalks

Lot Info

  • Lot Features: 6-10 Units/Acre, Park Nearby
  • Lot Size Sq Ft: 12235.00
  • Lot Size Acres: 0.2810

Rental Info

  • Tenant Pays: Electricity, Gas, Trash Collection

Multi Family

  • Gross Income: 9066.00
  • Gross Multiplier: 8.50
  • Gross Scheduled Income: 108792.00
  • Insurance Expense: 2995.00
  • Lot Size Area: 12235.0000 Square Feet
  • Maintenance Expense: 8042.00
  • Net Operating Income: 63507.00
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Units Total: 8
  • Operating Expense: 39846.00
  • Rent Control: Yes
  • Vacancy Allowance Rate: 5.00

Tax Info

  • New Taxes Expense: 12488.00
  • Tax Lot: 26
  • Tax Tract Number: 2293

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 10, 2015
Closed on
Mar 24, 2015
Sold by
Azadi Bijan and Azadi Shabnam
Bought by
238 South Mariposa Street Llc
Seller's Agent
Sholeh Yarjani
Berkshire Hathaway HomeService
Buyer's Agent
Bill Mulkey
TR Wealth Management Inc.
List Price
$925,000
Sold Price
$850,000
Premium/Discount to List
-$75,000
-8.11%
Current Estimated Value
$1,700,615

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$850,615
Avg. Annual Appreciation
6.83%

Purchase Details

Closed on
Feb 13, 2008
Sold by
Azadi Shabnam
Bought by
Azadi Bijan and Azadi Shabnam

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$597,000
Interest Rate
5.64%
Mortgage Type
Commercial

Purchase Details

Closed on
Dec 27, 2007
Sold by
Iraheta Alejandro
Bought by
Azadi Shabnam

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$597,000
Interest Rate
5.64%
Mortgage Type
Commercial

Purchase Details

Closed on
Nov 1, 2005
Sold by
Brar Bhupinder S and Brar Sarbjeet Kaur
Bought by
Iraheta Alejandro

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$500,000
Interest Rate
6.21%
Mortgage Type
Commercial

Purchase Details

Closed on
Jan 6, 1999
Sold by
Brar Bhupinder S
Bought by
Brar Bhupinder S and Brar Sarbjeet Kaur

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$140,000
Interest Rate
6.73%
Mortgage Type
Commercial

Purchase Details

Closed on
Dec 9, 1997
Sold by
Brar Sarbjeet Kaur
Bought by
Brar Bhupinder S

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$20,886
Interest Rate
6.9%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Nov 17, 1995
Sold by
Serrano Eusebio and Serrano Adeline
Bought by
Jack O Mills Dds Inc Pension & Profit Sh

Purchase Details

Closed on
Sep 12, 1994
Sold by
Serrano Adeline
Bought by
Soto Joel

Purchase Details

Closed on
Apr 27, 1993
Sold by
Serrano Eusebio
Bought by
Serrano Adeline
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
238 South Mariposa Street Llc $811,500 Ticor Title Co
Azadi Bijan -- First American Title Company
Azadi Shabnam $240,000 None Available
Iraheta Alejandro -- Chicago Title
Brar Bhupinder S -- --
Brar Bhupinder S -- Orange Coast Title
Brar Bhupinder S $42,000 Orange Coast Title
Jack O Mills Dds Inc Pension & Profit Sh $96,323 --
Soto Joel -- --
Serrano Adeline -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Azadi Bijan $597,000
Previous Owner Iraheta Alejandro $500,000
Previous Owner Brar Bhupinder S $140,000
Previous Owner Brar Bhupinder S $20,886
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
04/28/2015 04/28/15 Sold $850,000 -8.1% $114 / Sq Ft
03/23/2015 03/23/15 Pending -- -- --
03/10/2015 03/10/15 For Sale $925,000 -- $124 / 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 $13,873 $1,045,622 $252,984 $792,638
2024 $13,873 $1,025,121 $248,024 $777,097
2023 $13,629 $1,005,021 $243,161 $761,860
2022 $13,046 $985,316 $238,394 $746,922
2021 $12,854 $965,997 $233,720 $732,277
2019 $11,731 $874,300 $226,789 $647,511
2018 $11,467 $857,158 $222,343 $634,815
2016 $10,873 $823,875 $213,710 $610,165
2015 $9,088 $674,000 $240,000 $434,000
2014 -- $631,000 $240,000 $391,000
Source: Public Records

Agents Affiliated with this Home

  • S

    Seller's Agent in 2015

    Sholeh Yarjani

    Berkshire Hathaway HomeService

    (310) 704-1561

    4 Total Sales

    Sholeh Yarjani
    Section Image
  • Bill Mulkey

    Seller Co-Listing Agent in 2015

    Bill Mulkey

    TR Wealth Management Inc.

    (310) 919-7554

    16 Total Sales

    Bill Mulkey
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PV15050495

California Regional Multiple Listing Service (CRMLS)

APN: 5109-021-048

California Los Angeles County Los Angeles 90011 South Park

401 Park Front Walk, Los Angeles, CA

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