NOT LISTED FOR SALE

4770 Melrose Ave Los Angeles, CA 90029

East Hollywood Neighborhood

Estimated Value: $1,342,291

7 Beds
4 Baths
3,436 Sq Ft
$391/Sq Ft Est. Value

Last Sold August 03, 2017

Last sale price $880,000 $256 Per Sq Ft

Est. 53% increase in value since last sale

Current estimated payment $8,053/month

Highlights

  • No HOA
  • Paved or Partially Paved Lot
  • Wall Furnace
  • Cooling System Mounted To A Wall/Window

About This Home

As of August 2017

Cash offers only! Fixer upper in Hollywood area. 12.06 grm, 5.8% cap, $146,666 price per unit. 4 unit apartment building plus 2 retail stores. Great unit mix of (3) 2 bedroom+1 bath, (1) 1 bedrooms + 1 bath, plus 2 retail (Retail stores are not subject to rent control). An excellent opportunity for an investor to rehab and raise rents. One of the retail units is vacant. Subject is located in the heart of Hollywood near Paramount Studios, Melrose Hill, 101 freeway and the Metro Red line. Residents benefit by being close to popular restaurants, trendy retailers and nightlife venues. Buyer to rely on their own investigations and in verifying all information relating to the property. Subject is being sold "as is".

Last Agent to Sell the Property

Anie Mayelian

Keller Williams Realty Calabasas License #00778825 Listed on: 06/21/2017

Keller Williams Realty Calabasas

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $11,237

Year Built

  • Built in 1919

Lot Details

  • 4,998 Sq Ft Lot
  • No Common Walls
  • Paved or Partially Paved Lot

Parking

  • 1 Open Parking Space
  • 1 Car Garage

Home Design

  • Partial Copper Plumbing

Interior Spaces

  • 3,436 Sq Ft Home
  • 2-Story Property
  • Laminate Flooring

Bedrooms and Bathrooms

  • 7 Bedrooms
  • 4 Bathrooms

Home Security

  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Outdoor Features

  • Exterior Lighting

Utilities

  • Cooling System Mounted To A Wall/Window
  • Wall Furnace

Listing and Financial Details

  • Tax Lot 1,2
  • Assessor Parcel Number 5521006005

Community Details

Overview

  • No Home Owners Association
  • 2 Buildings
  • 6 Units

Building Details

  • 5 Leased Units
  • Rent Control
  • 6 Separate Electric Meters
  • 3 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $615
  • Insurance Expense $4,387
  • Other Expense $1,000
  • Water Sewer Expense $1,995
  • New Taxes Expense $11,237
  • Operating Expense $19,862
  • Gross Income $72,972
  • Net Operating Income $50,921

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$11,237

Year Built

Built in 1919

Lot Details

0

Parking

1

Listing Details

  • CapRate: 5.80
  • Property Attached: No
  • Security: Carbon Monoxide Detector(s), Smoke Detector(s)
  • Water Sewer Expenses: 1995.00
  • Zoning: LAC2
  • Property Type: Residential Income
  • Parcel Number: 5521006005
  • Year Built: 1919
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Interior Amenities: Copper Plumbing Partial, Unfurnished
  • Stories: 2
  • Common Walls: No Common Walls
  • Flooring: Laminate
  • Levels: Two
  • Price Per Square Foot: 256.11

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 1.00
  • Total Parking Spaces: 2.00
  • Uncovered Spaces: 1.00

Utilities

  • Heating: Yes
  • Laundry: No
  • Heating Type: Wall Furnace
  • Sewer: Public Sewer
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Sidewalks, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Paved
  • Lot Size Sq Ft: 4998.00

Multi Family

  • Electric Expense: 615.00
  • Garage Income: 1200.00
  • Gross Income: 72972.00
  • Gross Multiplier: 12.06
  • Gross Scheduled Income: 72972.00
  • Insurance Expense: 4387.00
  • Net Operating Income: 50921.00
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 3
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 5
  • Number Of Units Total: 6
  • Operating Expense: 19862.00
  • Other Expense: 1000.00
  • Other Expense Description: Reserves
  • Rent Control: Yes
  • Total Actual Rent: 5980.00
  • Total Expenses: 19862.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 11237.00
  • Tax Census Tract: 1925.20
  • Taxes Percent: 1.25
  • Tax Lot: 1,2
  • Tax Annual Amount: 11237.00
  • Tax Year: 2017

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 21, 2017
Closed on
Jul 26, 2017
Sold by
Broukhim Bahareh Saghian
Bought by
Broukhim Pouyan
Seller's Agent
Anie Mayelian
Keller Williams Realty Calabasas
List Price
$899,000
Sold Price
$880,000
Premium/Discount to List
-$19,000
-2.11%
Current Estimated Value
$1,342,291

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$462,291
Avg. Annual Appreciation
5.26%
Original Mortgage
$629,000
Interest Rate
3.9%
Mortgage Type
Commercial

Purchase Details

Closed on
Sep 17, 2016
Sold by
Zosa Jose M
Bought by
Zosa Jose M and Zosa Marilou G

Purchase Details

Closed on
Dec 22, 2003
Sold by
Quest Investments Llc
Bought by
Rosa Jose M

Purchase Details

Closed on
Feb 2, 2001
Sold by
Leon Kenneth
Bought by
Quest Investments Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$258,000
Interest Rate
8.35%
Mortgage Type
Commercial

Purchase Details

Closed on
Nov 29, 1999
Sold by
Quest Investment Llc
Bought by
Leon Kenneth

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$159,250
Interest Rate
7.85%
Mortgage Type
Commercial

Purchase Details

Closed on
Mar 2, 1999
Sold by
D & R Llc
Bought by
Quest Investments Llc

Purchase Details

Closed on
Dec 14, 1998
Sold by
Molina Isaias and Torres Angel
Bought by
D & R Llc

Purchase Details

Closed on
May 2, 1995
Sold by
Federal Home Loan Mortgage Corporation
Bought by
Molina Isaias and Torres Angel

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$137,750
Interest Rate
7.62%
Mortgage Type
Commercial

Purchase Details

Closed on
Jan 30, 1995
Sold by
Katz Barry J and Federal Home Loan Mortgage Cor
Bought by
Federal Home Loan Mortgage Corporation
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
Broukhim Pouyan -- First American Title
Zosa Jose M -- None Available
Rosa Jose M $490,000 North American Title Co
Quest Investments Llc -- --
Quest Investments Llc -- First American Title Co
Leon Kenneth -- Benefit Land Title Company
Quest Investments Llc -- --
D & R Llc $149,000 --
Molina Isaias $145,000 First American Title Co
Federal Home Loan Mortgage Corporation $200,000 Chicago Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Closed Broukhim Pouyan $629,000
Previous Owner Quest Investments Llc $258,000
Previous Owner Leon Kenneth $159,250
Previous Owner Molina Isaias $137,750
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
08/03/2017 08/03/17 Sold $880,000 -2.1% $256 / Sq Ft
07/12/2017 07/12/17 Pending -- -- --
06/21/2017 06/21/17 For Sale $899,000 -- $262 / 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 $12,319 $1,001,286 $750,965 $250,321
2024 $12,319 $981,654 $736,241 $245,413
2023 $12,089 $962,406 $721,805 $240,601
2022 $11,540 $943,536 $707,652 $235,884
2021 $11,385 $925,036 $693,777 $231,259
2019 $11,051 $897,600 $673,200 $224,400
2018 $10,927 $880,000 $660,000 $220,000
2017 $7,564 $600,272 $367,516 $232,756
2016 $7,365 $588,503 $360,310 $228,193
2015 $7,260 $579,664 $354,898 $224,766
2014 $7,295 $568,311 $347,947 $220,364
Source: Public Records

Agents Affiliated with this Home

  • Anie Mayelian

    Seller's Agent in 2017

    Anie Mayelian

    Keller Williams Realty Calabasas

    (818) 915-9118

    29 Total Sales

    Anie Mayelian
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SR17139652

California Regional Multiple Listing Service (CRMLS)

APN: 5521-006-005

California Los Angeles County Los Angeles 90004 East Hollywood

4770 Melrose Ave, Los Angeles, CA

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