NOT LISTED FOR SALE

4332 Lockwood Ave Los Angeles, CA 90029

East Hollywood Neighborhood
10 Beds
10 Baths
5,360 Sq Ft
9,299 Sq Ft Lot

Last Sold May 17, 2019

Last sale price $1,575,000 $294 Per Sq Ft

6 Days on Market

About This Home

As of May 2019

4332 Lockwood Avenue is a 10-unit courtyard style apartment community located in a densely populated rental submarket known for excellent rent growth and low vacancy rates. The asset has NOT undergone a meaningful renovation. Similar renovated One Bedroom units in the immediate area achieve rental rates upwards of $3.50 per square foot vs. $1.17 per square foot being collected currently, thus providing approx. a 200% increase in rental potential as units become vacant. The location is +/- 1/2 mile from Silver Lake’s Sunset Junction and provides easy access to numerous entertainment venues such as Intelligentsia, Mohawk General Store, Cafe Stella, Forage, Squirl and Twig & Twine. Travel west to endless dining and shopping options in Hollywood and within minutes, a short drive puts you in DTLA and Echo Park. 4332 Lockwood Avenue is located within a newly established Qualified Opportunity Zone for investment, established by the Tax Cuts and Jobs Act, Section 1400Z. The subject property is located 1/2 mile from the Vermont / Santa Monica Blvd. Redline Station for an easy commute to Hollywood or Downtown Los Angeles.

Last Agent to Sell the Property

Michael Tootikian

No Firm Affiliation License #00802699 Listed on: 02/13/2019

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1924

Lot Details

  • 9,299 Sq Ft Lot
  • No Common Walls
  • Garden

Home Design

  • 5,360 Sq Ft Home

Bedrooms and Bathrooms

  • 10 Bedrooms
  • 10 Bathrooms

Listing and Financial Details

  • Tax Lot 169
  • Tax Tract Number 1914
  • Assessor Parcel Number 5539008008

Community Details

Overview

  • 10 Units

Building Details

  • Rent Control
  • 10 Separate Electric Meters
  • 10 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $2,000
  • Fuel Expense $420
  • Gardener Expense $720
  • Insurance Expense $2,412
  • Maintenance Expense $5,000
  • Professional Management Expense $3,726
  • Water Sewer Expense $5,000
  • New Taxes Expense $17,690
  • Operating Expense $37,508
  • Gross Income $74,514
  • Net Operating Income $31,785

Property Details

Home Type

Multi-Family

Year Built

Built in 1924

Lot Details

0

Listing Details

  • Professional Management Expense: 3726.00
  • Property Attached: No
  • Water Sewer Expenses: 5000.00
  • Zoning: LARD1.5
  • Property Type: Residential Income
  • Gardener Expense: 720.00
  • Parcel Number: 5539008008
  • Year Built: 1924
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: No Common Walls
  • Price Per Square Foot: 293.84

Exterior Features

  • Pool Private: No

Utilities

  • Laundry: No
  • 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: Garden
  • Lot Size Sq Ft: 9299.00
  • Lot Size Acres: 0.2135

Multi Family

  • Electric Expense: 2000.00
  • Fuel Expense: 420.00
  • Gross Income: 74514.00
  • Gross Operating Income: 73024.00
  • Gross Scheduled Income: 74514.00
  • Insurance Expense: 2412.00
  • Lot Size Area: 9299.0000 Square Feet
  • Maintenance Expense: 5000.00
  • Net Operating Income: 31785.00
  • Number Of Separate Electric Meters: 10
  • Number Of Separate Gas Meters: 10
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 10
  • Operating Expense: 37508.00
  • Rent Control: Yes
  • Total Expenses: 37508.00
  • Vacancy Allowance Rate: 2.00

Tax Info

  • New Taxes Expense: 17690.00
  • Tax Census Tract: 1914.10
  • Tax Lot: 169
  • Tax Tract Number: 1914.1

Range of Values:

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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

Property History

Date Event Price Change Sq Ft Price
05/17/2019 05/17/19 Sold $1,575,000 0.0% $294 / Sq Ft
02/19/2019 02/19/19 Pending -- -- --
02/13/2019 02/13/19 For Sale $1,575,000 -- $294 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • M

    Seller's Agent in 2019

    Michael Tootikian

    No Firm Affiliation

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SR19035562

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Los Angeles 90029 East Hollywood

4332 Lockwood Ave, Los Angeles, CA

This home is located at 4332 Lockwood Ave, Los Angeles, CA 90029 since 13 February 2019. This property was built in 1924. 4332 Lockwood Ave is a home located in Los Angeles County with nearby schools including Lockwood Avenue Elementary School, Thomas Starr King Middle School Film and Media Magnet, and John Marshall Senior High.

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California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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