NOT LISTED FOR SALE

651 N Faring Rd Los Angeles, CA 90077

Beverly Crest Neighborhood

Estimated Value: $7,332,000 - $15,820,458

7 Beds
7 Baths
12,000 Sq Ft
$888/Sq Ft Est. Value

Last Sold March 23, 2012

Last sale price $11,500,000 $958 Per Sq Ft

Est. 7% decrease in value since last sale

Current estimated payment $70,179/month

152 Days on Market

Highlights

  • Detached Guest House
  • Tennis Courts
  • In Ground Pool
  • Warner Avenue Elementary Rated A
  • Home Theater
  • 40,946 Sq Ft lot

About This Home

As of March 2012

This East Coast Traditional built by famed Los Angeles architect, Gerard Colcord, exudes luxury & sophistication with rich interiors & finishes. Beautifully designed w/ elegance & style, clean lines w/ open spaces throughout this 7bd/7ba family home is a special gem in Holmby Hills. Fantastic master suite w/ high ceilings, spacious master bath w/ an oversized double shower & soaking tub, walk in closets & glass French doors that open to the rear garden. This magnificent estate on almost 1 acre includes remarkably landscaped gardens, lighted tennis court enclosed by walls of foliage & a natural stone patio that wraps around the back. This home has all of the modern day amenities w/ lots of natural light shining thruout.Other special features include a large custom designed screening room, gorgeous pool, library, gym, two-story guest house & gourmet kitchen w/ every amenity imaginable. Gracious outdoor living room overlooking lush lawns. A wonderful family home in a prestigious location.

Last Agent to Sell the Property

Linda May

Carolwood Estates License #00475038 Listed on: 09/15/2011

Carolwood Estates

Co-Listed By

Myra Nourmand

Nourmand & Associates-BH License #00983509

Last Buyer's Agent

Kurt Rappaport

Westside Estate Agency Inc. License #01036061

Westside Estate Agency Inc.

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $171,364

Year Built

  • Built in 1952

Lot Details

  • 0.94 Acre Lot
  • Gated Home
  • Property is zoned LARE20

Parking

  • 3 Car Attached Garage

Home Design

  • Traditional Architecture

Interior Spaces

  • 12,000 Sq Ft Home
  • 2-Story Property
  • Bar
  • Family Room with Fireplace
  • 4 Fireplaces
  • Living Room with Fireplace
  • Breakfast Room
  • Dining Room
  • Home Theater
  • Den with Fireplace
  • Library
  • Home Gym
  • Center Hall
  • Wood Flooring
  • Canyon Views
  • Security System Owned

Kitchen

  • Oven or Range
  • Dishwasher
  • Disposal

Bedrooms and Bathrooms

  • 7 Bedrooms
  • Fireplace in Primary Bedroom
  • Powder Room
  • 7 Bathrooms

Laundry

  • Laundry Room
  • Dryer
  • Washer

Pool

  • In Ground Pool
  • Spa

Outdoor Features

  • Tennis Courts
  • Covered Patio or Porch

Additional Homes

  • Detached Guest House

Utilities

  • Central Heating and Cooling System
  • Sewer in Street
  • Phone System
  • Cable TV Available

Listing and Financial Details

  • Assessor Parcel Number 4358-002-016

Home Details

Home Type

Single Family

Est. Annual Taxes

$171,364

Year Built

Built in 1952

Lot Details

0

Listing Details

  • Property Type: Residential
  • Property Sub Type: Single Family Residence
  • Style: Traditional
  • Street Number Display: Yes
  • Living Area: 12000
  • Stories: 2
  • Year Built: 1952
  • State Abbrv: CA
  • Special Features: None

Interior Features

  • Fireplace Rooms: Den, Family Room, Living Room, Master Bedroom
  • Flooring: Hardwood
  • Bedrooms: 7
  • Fireplaces: 4
  • Laundry: Inside
  • Maids Room: 1
  • Total Bathrooms: 7.00
  • Equipment: Alarm System, Cable, Dishwasher, Dryer, Garbage Disposal, Phone System, Range/Oven, Refrigerator, Washer
  • Fireplace: Yes
  • Price Per S Q F T: 1062.50

Exterior Features

  • Tennis Court: Private
  • Tennis Court Y/N: Yes
  • Guest House: Detached
  • Pool Description: Private
  • Pool: Yes
  • Spa: Private
  • View: Canyon
  • View: Yes

Garage/Parking

  • Covered Parking: 3
  • Parking Garage: Attached, Garage
  • Total Parking: 3

Utilities

  • Cooling: Central
  • Heating: Central
  • Security: Gated, Owned
  • Sewer: In Street

Lot Info

  • Special Zoning: Property Report
  • Horses: No
  • Assessor Parcel Number: 4358-002-016
  • Lot Size Area: 40946

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Sep 15, 2011
Closed on
Mar 12, 2012
Sold by
Ostroff Mark
Bought by
Mathews Michelle Joyce and The Michelle Mathews Living Trust
Seller's Agent
Linda May
Carolwood Estates
Buyer's Agent
Kurt Rappaport
Westside Estate Agency Inc.
List Price
$12,750,000
Sold Price
$11,500,000
Premium/Discount to List
-$1,250,000
-9.8%
Current Estimated Value
$10,658,486

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$841,514
Avg. Annual Appreciation
-0.56%
Original Mortgage
$4,000,000
Outstanding Balance
$2,743,783
Interest Rate
3.84%
Mortgage Type
New Conventional
Estimated Equity
$7,914,703

Purchase Details

Closed on
Dec 24, 2009
Sold by
Ostroff Mark
Bought by
Ostroff Mark and Ostroff Dawn

Purchase Details

Closed on
Aug 2, 2007
Sold by
Finerman Wendy
Bought by
Ostroff Mark and Ostroff Dawn

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$5,372,500
Interest Rate
5.75%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Nov 29, 2000
Sold by
Finerman Wendy
Bought by
Finerman Wendy and Wendy Finerman Trust

Purchase Details

Closed on
Apr 3, 2000
Sold by
Canton Mark C
Bought by
Finerman Wendy and Wendy Finerman Trust

Purchase Details

Closed on
Feb 16, 1995
Sold by
Canton Mark C
Bought by
Canton Mark C and Finerman Wendy
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
Mathews Michelle Joyce $11,500,000 First American Title Co
Ostroff Mark -- None Available
Ostroff Mark -- Provident Title Company
Finerman Wendy -- --
Finerman Wendy -- --
Canton Mark C -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Mathews Michelle Joyce $4,000,000
Previous Owner Ostroff Mark $5,372,500
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/23/2012 03/23/12 Sold $11,500,000 -9.8% $958 / Sq Ft
02/14/2012 02/14/12 Pending -- -- --
09/15/2011 09/15/11 For Sale $12,750,000 -- $1,063 / Sq Ft
Source: The MLS

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 $171,364 $14,444,653 $8,261,086 $6,183,567
2024 $171,364 $14,161,425 $8,099,104 $6,062,321
2023 $167,995 $13,883,751 $7,940,299 $5,943,452
2022 $160,137 $13,611,521 $7,784,607 $5,826,914
2021 $158,271 $13,344,629 $7,631,968 $5,712,661
2019 $153,425 $12,948,821 $7,405,600 $5,543,221
2018 $152,767 $12,694,924 $7,260,393 $5,434,531
2016 $146,235 $12,201,966 $6,978,464 $5,223,502
2015 $144,068 $12,018,682 $6,873,641 $5,145,041
2014 $144,434 $11,783,253 $6,738,996 $5,044,257
Source: Public Records

Agents Affiliated with this Home

  • Linda May

    Seller's Agent in 2012

    Linda May

    Carolwood Estates

    (310) 777-6247

    5 in this area

    49 Total Sales

    Linda May
    Section Image
  • Myra Nourmand

    Seller Co-Listing Agent in 2012

    Myra Nourmand

    Nourmand & Associates-BH

    (323) 460-6360

    2 in this area

    32 Total Sales

    Myra Nourmand
    Section Image
  • Kurt Rappaport

    Buyer's Agent in 2012

    Kurt Rappaport

    Westside Estate Agency Inc.

    (310) 247-7770

    11 in this area

    100 Total Sales

    Kurt Rappaport
    Section Image
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Map

Source: The MLS

MLS Number: 11-554523

The MLS

APN: 4358-002-016

California Los Angeles County Los Angeles 90077 Beverly Crest

651 N Faring Rd, Los Angeles, CA

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