NOT LISTED FOR SALE

5622 Monterey Rd Los Angeles, CA 90042

Montecito Heights Neighborhood

Estimated Value: $1,125,000 - $1,548,000

5 Beds
4 Baths
2,662 Sq Ft
$493/Sq Ft Est. Value

Last Sold May 16, 2023

Last sale price $1,100,000 $413 Per Sq Ft

Est. 19% increase in value since last sale

Current estimated payment $8,048/month

144 Days on Market

About This Home

As of May 2023

Looking for a great investment? Look no further! This is a phenomenal opportunity to acquire a 4-unit complex which consist of 2 Separate buildings, Main on Monterey (5622) Consists Of 3 Units One 2+1; Two 1+1(One Vacant). The 2nd Building is Single Family Res(Vacant) On Coleman, It Has 1bed+1bath with small office, a Circular Driveway(the eastern edge of the circular driveway has shared access with neighbor), back yard with an oversized storage shed. The property is located in the Hermon area of Highland Park, close to great restaurants, parks, and transit options to downtown LA. An ideal property that offers investors a substantial value add opportunity. Delivered with 2 vacant units. DO NOT DISTURB TENANTS OR WALK ON PROPERTY.

Last Agent to Sell the Property

Albert Hernandez

WERE Real Estate License #01944130 Listed on: 11/09/2022

Last Buyer's Agent

Joylyn Spencer

Keller Williams World Media Center License #01302313

Keller Williams World Media Center

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $14,180

Year Built

  • Built in 1947

Lot Details

  • 8,069 Sq Ft Lot
  • Two or More Common Walls
  • Density is 2-5 Units/Acre

Home Design

  • 2,662 Sq Ft Home
  • Triplex

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 4 Bathrooms

Laundry

  • Laundry Room
  • Laundry in Garage

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Legal Lot and Block 15 / 38
  • Tax Tract Number 183
  • Assessor Parcel Number 5301013015
  • $690 per year additional tax assessments

Community Details

Overview

  • 2 Buildings
  • 4 Units

Building Details

  • Rent Control
  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$14,180

Year Built

Built in 1947

Lot Details

0

Listing Details

  • Property Attached: Yes
  • Zoning: LARD1.5
  • Property Sub Type: Triplex
  • Property Type: Residential Income
  • Parcel Number: 5301013015
  • Year Built: 1947
  • Special Features: None

Interior Features

  • Common Walls: 2+ Common Walls
  • Price Per Square Foot: 413.22

Exterior Features

  • Pool Private: No

Utilities

  • Laundry: Yes
  • Laundry Features: In Garage
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 2-5 Units/Acre
  • Lot Size Sq Ft: 8069.00
  • Lot Size Acres: 0.1852

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Lot Size Area: 8069.0000 Square Feet
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 4
  • Rent Control: Yes

Tax Info

  • Tax Block: 38
  • Tax Census Tract: 1837.02
  • Tax Lot: 15
  • Tax Tract Number: 183...
  • TaxOtherAnnualAssessmentAmount: 690.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Nov 9, 2022
Closed on
Apr 12, 2023
Sold by
Living Trust
Bought by
Mills Jerry Ac and Mills Grizelda Carolina Bla
Seller's Agent
Albert Hernandez
WERE Real Estate
Buyer's Agent
Joylyn Spencer
Keller Williams World Media Center
List Price
$1,125,000
Sold Price
$1,100,000
Premium/Discount to List
-$25,000
-2.22%
Views
65
Current Estimated Value
$1,311,704

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$211,704
Avg. Annual Appreciation
7.45%
Original Mortgage
$1,080,076
Outstanding Balance
$1,047,310
Interest Rate
6.32%
Mortgage Type
FHA
Estimated Equity
$264,394

Purchase Details

Closed on
Aug 10, 2005
Sold by
Adame Alva Cecilia L and Adame Cecilia L
Bought by
Alva Daniel and Adame Alva Cecilia L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$413,000
Interest Rate
5.54%
Mortgage Type
Negative Amortization

Purchase Details

Closed on
Jul 15, 2002
Sold by
Alva Daniel
Bought by
Adame Cecilia L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$266,000
Interest Rate
6.6%

Purchase Details

Closed on
Jul 11, 2002
Sold by
Lam Eugene and Lam Kin Nang
Bought by
Adame Cecilia L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$266,000
Interest Rate
6.6%
Source: Public Records

Range of Values:

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Average Value
Not Available
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
Mills Jerry Ac $1,100,000 Fidelity National Title
Alva Daniel -- Southland Title
Adame Cecilia L -- Equity Title Company
Adame Cecilia L $280,000 Equity Title Company
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Mills Jerry Ac $1,080,076
Previous Owner Alva Daniel $413,000
Previous Owner Adame Cecilia L $266,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
05/16/2023 05/16/23 Sold $1,100,000 0.0% $413 / Sq Ft
04/02/2023 04/02/23 Pending -- -- --
03/06/2023 03/06/23 Price Changed $1,100,000 -2.2% $413 / Sq Ft
03/03/2023 03/03/23 Price Changed $1,125,000 0.0% $423 / Sq Ft
03/03/2023 03/03/23 For Sale $1,125,000 +2.3% $423 / Sq Ft
02/20/2023 02/20/23 Off Market $1,100,000 -- --
02/18/2023 02/18/23 Pending -- -- --
02/01/2023 02/01/23 For Sale $1,100,000 0.0% $413 / Sq Ft
01/18/2023 01/18/23 Off Market $1,100,000 -- --
11/09/2022 11/09/22 For Sale $1,100,000 -- $413 / 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 $14,180 $1,144,440 $863,532 $280,908
2024 $14,180 $1,122,000 $846,600 $275,400
2023 $5,394 $389,766 $242,215 $147,551
2022 $5,166 $382,124 $237,466 $144,658
2021 $5,095 $374,632 $232,810 $141,822
2020 $5,138 $370,991 $230,423 $140,568
2019 $4,957 $363,721 $225,905 $137,816
2018 $4,812 $356,594 $221,476 $135,118
2016 $4,589 $342,557 $212,877 $129,680
2015 $4,528 $337,413 $209,680 $127,733
2014 $4,562 $330,804 $205,573 $125,231
Source: Public Records

Agents Affiliated with this Home

  • Albert Hernandez

    Seller's Agent in 2023

    Albert Hernandez

    WERE Real Estate

    (213) 509-2807

    1 in this area

    34 Total Sales

    Albert Hernandez
    Section Image
  • Joylyn Spencer

    Buyer's Agent in 2023

    Joylyn Spencer

    Keller Williams World Media Center

    (213) 703-0393

    1 in this area

    15 Total Sales

    Joylyn Spencer
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: CV22238747

California Regional Multiple Listing Service (CRMLS)

APN: 5301-013-015

California Los Angeles County Los Angeles 90042 Montecito Heights

5622 Monterey Rd, Los Angeles, CA

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