NOT LISTED FOR SALE

631 Indiana Ave Venice, CA 90291

Venice Neighborhood

Estimated Value: $2,644,460 - $3,125,000

9 Beds
5 Baths
2,900 Sq Ft
$1,014/Sq Ft Est. Value

Last Sold October 10, 2018

Last sale price $1,860,000 $641 Per Sq Ft

Est. 58% increase in value since last sale

Current estimated payment $18,244/month

93 Days on Market

Highlights

  • Laundry Room
  • Broadway Elementary Rated A
  • Level Lot

About This Home

As of October 2018

Welcome to this unique investment opportunity in Venice, one of the hottest neighborhoods in LA. This multifamily property is located WEST of Lincoln and located a couple blocks away from Abbot Kinney. The front house has 2 bedrooms and 2 baths with private outdoor space. The rear building is 2 units with 3 bedrooms and 1 bath each stacked on top of one another. All units have updated kitchens, baths, and flooring. 4+ parking spots on property with access from the front and rear alley. This triplex has a unique setup allowing for a FOURTH UNIT (UDU) to be installed in the existing footprint. That means a potential income of $10,800/month with existing tenants in place!

Last Agent to Sell the Property

Dow Chang

Haus Investments License #01904714 Listed on: 06/11/2018

Co-Listed By

Stephanie Baik

Premier Agent Network License #01881394

Last Buyer's Agent

NoEmail NoEmail

NONMEMBER MRML

NONMEMBER MRML

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1905

Lot Details

  • 4,802 Sq Ft Lot
  • 1 Common Wall
  • Level Lot

Home Design

  • 2,900 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 9 Bedrooms
  • 5 Bathrooms

Laundry

  • Laundry Room
  • Dryer
  • Washer

Parking

  • Parking Available
  • Paved Parking

Additional Features

  • Suburban Location
  • Septic Type Unknown

Listing and Financial Details

  • Tenant pays for all utilities
  • Tax Lot 28
  • Tax Tract Number 67
  • Assessor Parcel Number 4239003034

Community Details

Overview

  • 2 Buildings
  • 3 Units

Building Details

  • 3 Leased Units
  • Rent Control
  • 3 Separate Electric Meters
  • 3 Separate Gas Meters
  • 3 Separate Water Meters
  • Electric Expense $600
  • Fuel Expense $600
  • Insurance Expense $1,015
  • Trash Expense $600
  • Water Sewer Expense $600
  • New Taxes Expense $26,188
  • Operating Expense $2,400
  • Net Operating Income $71,697

Property Details

Home Type

Multi-Family

Year Built

Built in 1905

Lot Details

0

Listing Details

  • Assessments: Yes
  • Property Attached: Yes
  • Water Sewer Expenses: 600.00
  • Zoning: LARD1.5
  • Property Type: Residential Income
  • Parcel Number: 4239003034
  • Year Built: 1905
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 1 Common Wall
  • Price Per Square Foot: 641.38

Exterior Features

  • Pool Private: No

Garage/Parking

  • Parking: Yes
  • Parking Features: Concrete

Utilities

  • Laundry: Yes
  • Laundry Features: Dryer Included, Electric Dryer Hookup, Washer Included
  • Sewer: Unknown
  • Trash Expense: 600.00

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Suburban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Level with Street
  • Lot Size Sq Ft: 4802.00

Rental Info

  • Tenant Pays: All Utilities

Multi Family

  • Electric Expense: 600.00
  • Fuel Expense: 600.00
  • Gross Scheduled Income: 105670.00
  • Insurance Expense: 1015.00
  • Maintenance Percent: 3.00
  • Net Operating Income: 71697.00
  • Number Of Separate Electric Meters: 3
  • Number Of Separate Gas Meters: 3
  • Number Of Separate Water Meters: 3
  • Number Of Units Leased: 3
  • Number Of Units Total: 3
  • Operating Expense: 33973.00
  • Rent Control: Yes
  • Total Actual Rent: 8806.00
  • Total Expenses: 2400.00

Tax Info

  • New Taxes Expense: 26188.00
  • Tax Census Tract: 2732.00
  • Tax Lot: 28
  • Tax Tract Number: 67

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 11, 2018
Closed on
Sep 26, 2018
Sold by
Panchal Harish
Bought by
Han Kay
Seller's Agent
Dow Chang
Haus Investments
Buyer's Agent
NoEmail NoEmail
NONMEMBER MRML
List Price
$1,899,000
Sold Price
$1,860,000
Premium/Discount to List
-$39,000
-2.05%
Current Estimated Value
$2,941,115

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$1,081,115
Avg. Annual Appreciation
6.53%
Original Mortgage
$1,000,000
Outstanding Balance
$870,263
Interest Rate
4.5%
Mortgage Type
New Conventional
Estimated Equity
$2,070,852

Purchase Details

Closed on
Jan 13, 2012
Sold by
Tan Jing
Bought by
Panchal Harish

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$735,000
Interest Rate
4.05%
Mortgage Type
New Conventional

Purchase Details

Closed on
Apr 7, 2010
Sold by
Johnson David Scott
Bought by
Tan Jing

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$493,200
Interest Rate
4.62%
Mortgage Type
New Conventional

Purchase Details

Closed on
Apr 6, 2010
Sold by
Banuelos Marissa A and Estate Of Rosa G Banuelos
Bought by
Tan Jing

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$493,200
Interest Rate
4.62%
Mortgage Type
New Conventional
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
Han Kay $1,860,000 Pacific Coast Title Company
Panchal Harish $980,000 Old Republic Title Company
Tan Jing -- Lawyers Title Company
Tan Jing $830,000 Lawyers Title Company
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Han Kay $1,000,000
Previous Owner Panchal Harish $735,000
Previous Owner Tan Jing $493,200
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
10/10/2018 10/10/18 Sold $1,860,000 -2.1% $641 / Sq Ft
06/11/2018 06/11/18 For Sale $1,899,000 +93.8% $655 / Sq Ft
05/02/2012 05/02/12 Sold $980,000 -17.5% $258 / Sq Ft View Prior Sale
01/17/2012 01/17/12 Pending -- -- --
04/08/2011 04/08/11 For Sale $1,188,000 -- $313 / 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 $34,375 $2,886,485 $2,653,020 $233,465
2024 $34,375 $2,829,888 $2,601,000 $228,888
2023 $33,705 $2,774,400 $2,550,000 $224,400
2022 $23,215 $1,955,190 $1,744,955 $210,235
2021 $22,931 $1,916,854 $1,710,741 $206,113
2020 $23,169 $1,897,200 $1,693,200 $204,000
2019 $22,243 $1,860,000 $1,660,000 $200,000
2018 $13,259 $1,081,824 $640,263 $441,561
2016 $12,674 $1,039,816 $615,401 $424,415
2015 $12,489 $1,024,198 $606,158 $418,040
2014 $12,543 $1,004,137 $594,285 $409,852
Source: Public Records

Agents Affiliated with this Home

  • Dow Chang

    Seller's Agent in 2018

    Dow Chang

    Haus Investments

    (310) 702-5501

    1 in this area

    23 Total Sales

    Dow Chang
    Section Image

  • S

    Seller Co-Listing Agent in 2018

    Stephanie Baik

    Premier Agent Network

    (310) 376-8021

    2 Total Sales

    Stephanie Baik
    Section Image

  • N

    Buyer's Agent in 2018

    NoEmail NoEmail

    NONMEMBER MRML

    (646) 541-2551

    5 in this area

    6,217 Total Sales

    NoEmail NoEmail
    Section Image

  • R

    Seller's Agent in 2012

    Richard Cabo

    Property Concierge

    (310) 481-6262

    Richard Cabo
    Section Image
  • Cary Goldstone

    Buyer's Agent in 2012

    Cary Goldstone

    House Network

    (310) 821-7020

    7 Total Sales

    Cary Goldstone
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB18138129

California Regional Multiple Listing Service (CRMLS)

APN: 4239-003-034

California Los Angeles County Venice 90291 Venice

631 Indiana Ave, Venice, CA

Not Listed for Sale

MultiFamily

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