Seller's Agent in 2020
Rick Raymundo
Marcus & Millichap
(818) 219-6146
3 in this area
68 Total Sales
Built in 1986, the property is not subject to Los Angeles rent control, instead allowing for higher annual rent increases. The current owner launched a successful value-add program that generated an average of $623 in additional monthly rent for each unit that was renovated, establishing higher levels of proven rents and creating a path for the next owner to increase cash flow and asset value. In addition to its superb location within desirable Studio City, another local highlight that directly benefits the property is the upcoming development of River Park directly across the street. Recently purchased by Harvard-Westlake School, the 16-acre site is projected to soon house several brand new athletic facilities, ponds, a jogging trail, and acres of green space. The entire area, including tennis courts, swimming pools, and parks, will be available for use by both Harvard-Westlake students as well as the general public.
Last Agent to Sell the Property
Marcus & Millichap License #01357019 Listed on: 11/02/2020
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 11/17/2020 11/17/20 | Sold | $6,300,000 | -7.4% | $432 / Sq Ft | |
| 11/02/2020 11/02/20 | For Sale | $6,800,000 | +26.0% | $466 / Sq Ft | |
| 08/20/2019 08/20/19 | Sold | $5,395,000 | 0.0% | $370 / Sq Ft | View Prior Sale |
| 08/17/2019 08/17/19 | Pending | -- | -- | -- | |
| 08/17/2019 08/17/19 | For Sale | $5,395,000 | -- | $370 / Sq Ft |
| 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 | $59,111 | $4,870,944 | $2,706,080 | $2,164,864 |
| 2024 | $59,111 | $4,775,436 | $2,653,020 | $2,122,416 |
| 2023 | $57,974 | $4,681,800 | $2,601,000 | $2,080,800 |
| 2022 | $55,295 | $4,590,000 | $2,550,000 | $2,040,000 |
| 2021 | $54,573 | $4,500,000 | $2,500,000 | $2,000,000 |
| 2019 | $24,717 | $1,971,548 | $557,923 | $1,413,625 |
| 2018 | $24,624 | $1,933,053 | $546,984 | $1,386,069 |
| 2016 | $23,386 | $1,850,062 | $525,745 | $1,324,317 |
| 2015 | $23,058 | $1,822,273 | $517,848 | $1,304,425 |
| 2014 | $23,218 | $1,786,579 | $507,705 | $1,278,874 |
Seller's Agent in 2020
Rick Raymundo
Marcus & Millichap
(818) 219-6146
3 in this area
68 Total Sales
Source: The MLS
MLS Number: 20-643756
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