NOT LISTED FOR SALE

62 N Edgemont St Los Angeles, CA 90004

Koreatown Neighborhood
20 Beds
14 Baths
13,760 Sq Ft
0.47 Acres

Last Sold April 06, 2023

Last sale price $4,950,000 $360 Per Sq Ft

72 Days on Market

About This Home

As of April 2023

Occupying two parcels with excellent visibility on the corner of Franklin Avenue and Edgemont Street, the property features a favorable unit mix with mostly two-bedroom units, half of which are townhouse floorplans. The classic French-Normandy buildings house spacious apartment layouts, with units averaging over 1,000 square feet of living area. Current ownership has already renovated several units, providing a blueprint to add considerable value to the remainder of the property and potentially recapture approximately 45% in rent upside. A unique and lucrative benefit of this property is the substantial amount of supplemental income that it generates, by virtue of its 12 private parking garages, six additional open spaces, and landlord-owned laundry facilities. While this already creates approximately $17,100 in extra income currently, there may be an opportunity to rent out additional garage space to increase the revenue stream to nearly $22,000. Although Los Feliz is directly adjacent to the bustling neighborhoods of Hollywood, Silver Lake, and Glendale, the hillside area is generally secluded and has long been considered one of the most desirable locations for some of the most affluent residents of Los Angeles. Demand for rental housing has increased substantially as many locals find themselves priced out of homeownership. Almost every single-family home sale in the past year -- approximately 97% of all transactions -- has surpassed $1,000,000. In fact, the average sales price during that time period has been nearly $2,700,000, forcing residents who seek the space and amenities of a private home to instead opt for high-end rentals, such as those offered by 1852-62 N Edgemont Street. Moreover, as remote and hybrid working models have become more prevalent, the low-density neighborhoods within Los Feliz have become even more desirable to those employed in denser Hollywood and Koreatown. Tenants at the property enjoy convenient access to Griffith Park, a 4,210-acre urban wilderness area that is home to the Griffith Observatory, the Los Angeles Zoo, the Hollywood Sign, and the Greek Theatre. Los Feliz Village, a trendy shopping area filled with boutiques and restaurants, sits mere blocks from the property. Hollywood is directly west of the property, offering access to world famous clubs, restaurants, and entertainment venues. Transit options are numerous in the area, with the 101 Freeway nearby and the Hollywood/Western and Vermont/Sunset metro stations both in the vicinity.

Last Agent to Sell the Property

Rick Raymundo

Marcus & Millichap License #01357019 Listed on: 01/24/2023

Last Buyer's Agent

Rick Raymundo

Marcus & Millichap License #01357019 Listed on: 01/24/2023

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1937

Lot Details

  • 20,477 Sq Ft Lot

Interior Spaces

  • 13,760 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 20 Bedrooms
  • 14 Bathrooms

Parking

  • 18 Car Attached Garage
  • Assigned Parking

Community Details

  • 2 Buildings
  • 12 Units

Listing and Financial Details

  • Assessor Parcel Number 5589-031-031

Property Details

Home Type

Multi-Family

Year Built

Built in 1937

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 13760
  • Lot Acreage: 0.2087
  • Stories: 2
  • Year Built: 1937
  • Number Of Photos: 20
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 20
  • Total Bathrooms: 14.00
  • Price Per S Q F T: 388.81

Exterior Features

  • Other Structures: None

Garage/Parking

  • Parking Garage: Assigned, Garage Is Detached
  • Total Parking: 18

Lot Info

  • Assessed Improvement Percent: 33.66
  • Assessed Improvement Value: 533472
  • Assessed Land Percent: 66.34
  • Assessed Land Value: 1051178
  • Total Assessed Value: 1584650
  • Assessor Parcel Number: 5589-031-031
  • Lot Size Area: 20477

Multi Family

  • Unit Type: 2106, 2107, 2108
  • Gross Rent Multiplier: 14.95
  • Number Of Units: 12
  • Total Annual Expense: 122256
  • Type Of Units: Residential
  • Vacancy Rate: 0

Range of Values:

Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

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
04/06/2023 04/06/23 Sold $4,950,000 -7.5% $360 / Sq Ft
03/02/2023 03/02/23 Price Changed $5,350,000 -6.1% $389 / Sq Ft
01/24/2023 01/24/23 For Sale $5,695,000 -- $414 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Rick Raymundo

    Seller's Agent in 2023

    Rick Raymundo

    Marcus & Millichap

    (818) 219-6146

    3 in this area

    66 Total Sales

    Rick Raymundo
    Section Image
See All Agents

Map

Source: The MLS

MLS Number: 23-235387

The MLS

California Los Angeles County Los Angeles 90004 Koreatown

62 N Edgemont St, Los Angeles, CA

This home is located at 62 N Edgemont St, Los Angeles, CA 90004 since 24 January 2023. This property was built in 1937. 62 N Edgemont St is a home located in Los Angeles County with nearby schools including Frank Del Olmo Elementary School, Virgil Middle School, and Belmont High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

The MLS © 2025 The MLS™ - Combined L.A. Westside MLS (CLAW). All rights reserved. Based on information from The MLS™ - Combined L.A. Westside MLS (CLAW). 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.
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information is deemed reliable but not guaranteed.

Nearby Homes