NOT LISTED FOR SALE

407 E 59th Place Los Angeles, CA 90003

Florence Neighborhood

Estimated Value: $1,214,000 - $1,345,087

10 Beds
6 Baths
3,509 Sq Ft
$365/Sq Ft Est. Value

Last Sold March 28, 2019

Last sale price $774,000 $221 Per Sq Ft

Est. 66% increase in value since last sale

Current estimated payment $7,619/month

37 Days on Market

Highlights

  • Laundry Room
  • Rectangular Lot
  • Front Yard
  • Central Heating

About This Home

As of March 2019

Fabulous Investment Opportunity for this Duplex with NO RENT CONTROL! Each Unit Features: 5 Bedrooms, 3 Bathrooms with One Bedroom and Full Bathroom Downstairs, Large Spacious Kitchen, Upstairs Laundry Area, Master Bedroom/Bathroom in Each Unit and Fenced Yard Area. The Duplex is improved with a 2 Car Garage and plenty of parking on the long driveway. Conveniently located to Los Angeles International Airport, Freeways, Railway Transit Lines, Neighborhood Shopping and Public Transportation. Units are currently occupied on a month to month basis.

Last Agent to Sell the Property

Monica Diaz-Campbell

EXP REALTY OF CALIFORNIA INC License #01293082 Listed on: 01/21/2019

EXP REALTY OF CALIFORNIA INC

Last Buyer's Agent

Chris Lim

Bestway Realty License #01412845

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 2015

Lot Details

  • 5,217 Sq Ft Lot
  • No Common Walls
  • Rectangular Lot
  • Front Yard

Parking

  • 2 Car Garage

Interior Spaces

  • 3,509 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 10 Bedrooms
  • 6 Bathrooms

Laundry

  • Laundry Room
  • Laundry on upper level

Utilities

  • Central Heating

Listing and Financial Details

  • Tenant pays for electricity
  • Tax Lot 12
  • Tax Tract Number 3563
  • Assessor Parcel Number 6006031043

Community Details

Building Details

  • 2 Separate Electric Meters
  • 2 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $715
  • Insurance Expense $2,638
  • Maintenance Expense $2,838
  • Professional Management Expense $3,108
  • New Taxes Expense $3,746
  • Operating Expense $13,045
  • Gross Income $51,755
  • Net Operating Income $51,755

Additional Features

  • 2 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 2015

Lot Details

0

Parking

2

Listing Details

  • Professional Management Expense: 3108.00
  • Property Attached: No
  • Zoning: LAR3
  • Property Type: Residential Income
  • Gardener Expense: 715.00
  • Parcel Number: 6006031043
  • Year Built: 2015
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 2
  • Common Walls: No Common Walls
  • Levels: Two
  • Price Per Square Foot: 220.58

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 2.00
  • Total Parking Spaces: 2.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Central
  • Laundry Features: Common Area, Upper Level
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

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

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Front Yard, Rectangular Lot
  • Lot Size Sq Ft: 5217.00
  • Lot Size Acres: 0.1198

Rental Info

  • Tenant Pays: Electricity

Multi Family

  • Gross Income: 51755.00
  • Gross Scheduled Income: 64800.00
  • Insurance Expense: 2638.00
  • Lot Size Area: 5217.0000 Square Feet
  • Maintenance Expense: 2838.00
  • Net Operating Income: 51755.00
  • 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: 13045.00
  • Rent Control: No
  • Total Expenses: 13045.00

Tax Info

  • New Taxes Expense: 3746.00
  • Tax Census Tract: 2392.02
  • Tax Lot: 12
  • Tax Tract Number: 3563

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jan 31, 2020
Sold by
Nam Helen H
Bought by
23 Rd Stanford Llc
Current Estimated Value
$1,281,022

Purchase Details

Listed on
Jan 21, 2019
Closed on
Mar 20, 2019
Sold by
Lim Chris S
Bought by
Nam Helen H
Seller's Agent
Monica Diaz-Campbell
EXP REALTY OF CALIFORNIA INC
Buyer's Agent
Chris Lim
Bestway Realty
List Price
$778,000
Sold Price
$774,000
Premium/Discount to List
-$4,000
-0.51%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
7.69%
Original Mortgage
$578,000
Interest Rate
4.3%
Mortgage Type
New Conventional

Purchase Details

Listed on
Jan 21, 2019
Closed on
Mar 1, 2019
Sold by
Clearinghouse Crec Sub 1 Llc
Bought by
Nam Helen H
Seller's Agent
Monica Diaz-Campbell
EXP REALTY OF CALIFORNIA INC
Buyer's Agent
Chris Lim
Bestway Realty
List Price
$778,000
Sold Price
$774,000
Premium/Discount to List
-$4,000
-0.51%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$578,000
Interest Rate
4.3%
Mortgage Type
New Conventional

Purchase Details

Closed on
Feb 2, 2015
Sold by
Ocean Development Inc
Bought by
Clearinghouse Crec Sub 1 Llc

Purchase Details

Closed on
Sep 30, 2014
Sold by
Ella Inc
Bought by
Ocean Development Inc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$326,000
Interest Rate
4.08%
Mortgage Type
Future Advance Clause Open End Mortgage

Purchase Details

Closed on
Nov 27, 2013
Sold by
Nealy Opal Lee
Bought by
Ella Inc

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
4.04%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Sep 25, 2013
Sold by
Neal Opal
Bought by
Nealy Opal Lee and The Opal Lee Nealy Living Trust

Purchase Details

Closed on
May 23, 2013
Sold by
Opal Neal Trust
Bought by
Neal Opal

Purchase Details

Closed on
Mar 25, 2009
Sold by
Nealy Opal L and Nealy Gloria
Bought by
Nealy Tony L and Nealy Trust
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
23 Rd Stanford Llc -- Accommodation
Nam Helen H -- Chicago Title Company
Nam Helen H $774,000 Chicago Title Company
Clearinghouse Crec Sub 1 Llc $2,320,000 Lawyers Title
Ocean Development Inc $225,000 Lawyers Title
Ella Inc $185,000 Old Republic Title Company
Nealy Opal Lee -- None Available
Neal Opal -- None Available
Nealy Tony L -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Nam Helen H $578,000
Previous Owner Ocean Development Inc $326,000
Previous Owner Ella Inc $190,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/28/2019 03/28/19 Sold $774,000 -0.5% $221 / Sq Ft
02/27/2019 02/27/19 Pending -- -- --
01/21/2019 01/21/19 For Sale $778,000 -- $222 / 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 $11,847 $967,871 $546,820 $421,051
2024 $11,847 $948,895 $536,099 $412,796
2023 $11,621 $930,290 $525,588 $404,702
2022 $11,085 $912,050 $515,283 $396,767
2021 $10,937 $894,168 $505,180 $388,988
2020 $9,898 $789,480 $432,480 $357,000
2019 $7,761 $624,883 $210,089 $414,794
2018 $7,657 $612,631 $205,970 $406,661
2016 $7,292 $588,844 $197,973 $390,871
2015 $2,784 $225,000 $170,700 $54,300
2014 $2,420 $185,000 $148,000 $37,000
Source: Public Records

Agents Affiliated with this Home

  • Monica Diaz-Campbell

    Seller's Agent in 2019

    Monica Diaz-Campbell

    EXP REALTY OF CALIFORNIA INC

    (626) 890-7187

    22 Total Sales

    Monica Diaz-Campbell
    Section Image

  • C

    Buyer's Agent in 2019

    Chris Lim

    Bestway Realty

    (562) 577-3111

    1 in this area

    12 Total Sales

    Chris Lim
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: CV19016335

California Regional Multiple Listing Service (CRMLS)

APN: 6006-031-043

California Los Angeles County Los Angeles 90003 Florence

407 E 59th Place, Los Angeles, CA

Not Listed for Sale

MultiFamily

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