NOT LISTED FOR SALE

661 S Mathews St Los Angeles, CA 90023

Estimated Value: $1,146,000 - $1,883,000

8 Beds
4 Baths
4,597 Sq Ft
$305/Sq Ft Est. Value

Last Sold September 12, 2012

Last sale price $528,000 $115 Per Sq Ft

Est. 166% increase in value since last sale

Current estimated payment $8,160/month

85 Days on Market

About This Home

As of September 2012

Remax 2000 Commercial has been retained to sell this 4 unit apartment property located in the City of Los Angeles, CA 90023. This property consists of a two story building that is 4,597 sq ft on a lot of 6,000 sq ft. All units are 2 bedroom with 1 bath. All units have been well maintained by current owners. Property was built in 1930 and is subject to rent control. The property has a lot of nice features and that have been restored and maintained since the orginal construction. The units are metered for gas and electric. There is a storage space for owner supplies. Roof was replaced in 2004. This 4 unit property is close to freeway access of the 5, 10, 60 freeways. Close to downtown LA, schools, parks, and shopping. First time on market since 1966.

Last Agent to Sell the Property

Kuan Sung

RE/MAX 2000 REALTY License #00970799 Listed on: 04/12/2012

RE/MAX 2000 REALTY

Co-Listed By

Carlos Skubacz

RE/MAX 2000 Realty License #01474295

Last Buyer's Agent

Moses Kagan

Adaptive Realty, Inc. License #01864027

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $8,296

Year Built

  • Built in 1930

Lot Details

  • 6,000 Sq Ft Lot

Home Design

  • 4,597 Sq Ft Home

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 4 Bathrooms

Parking

  • 8 Parking Spaces
  • 4 Carport Spaces
  • Parking Available
  • Assigned Parking

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 8
  • Tax Tract Number 4887
  • Assessor Parcel Number 5185027021

Community Details

Overview

  • 4 Units

Building Details

  • 4 Leased Units
  • Rent Control
  • 5 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $480
  • Gardener Expense $300
  • Insurance Expense $959
  • Maintenance Expense $2,000
  • Professional Management Expense $2,738
  • Water Sewer Expense $1,500
  • New Taxes Expense $7,239
  • Gross Income $4,564
  • Net Operating Income $38,014

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$8,296

Year Built

Built in 1930

Lot Details

0

Listing Details

  • Assessments: Yes
  • CapRate: 6.53
  • Other Phone Description: Carlos Skubacz
  • Other Phone Number: 714-290-0936
  • Professional Management Expense: 2738.00
  • Water Sewer Expenses: 1500.00
  • Zoning: LAR2
  • Property Type: Residential Income
  • Gardener Expense: 300.00
  • Parcel Number: 5185027021
  • Year Built: 1930
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Levels: Two
  • Price Per Square Foot: 114.86

Garage/Parking

  • Carport Spaces: 4.00
  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 8.00

Condo/Co-op/Association

  • Senior Community: No

Lot Info

  • Lot Size Sq Ft: 6000.00
  • Lot Size Acres: 0.1380

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Average2 Bed Area: 1149
  • Electric Expense: 480.00
  • Gross Income: 4564.00
  • Gross Multiplier: 10.59
  • Gross Scheduled Income: 54768.00
  • Insurance Expense: 959.00
  • Lot Size Area: 6000.0000 Square Feet
  • Maintenance Expense: 2000.00
  • Net Operating Income: 38014.00
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 4
  • Number Of Units Total: 4
  • Operating Expense: 15216.00
  • Operating Expense Percent: 28.00
  • Rent Control: Yes
  • Total Actual Rent: 4564.00
  • Vacancy Allowance: 1538
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 7239.00
  • Tax Lot: 8
  • Tax Tract Number: 4887
  • Tax Year: 2011

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Aug 28, 2015
Sold by
Farber Christophe
Bought by
Mathews Property Llc
Current Estimated Value
$1,401,881

Purchase Details

Closed on
Jul 6, 2012
Sold by
Deande Erlinda and Deande Erlinda De
Bought by
Farber Christophe and Farber Catharina Eva

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$473,646
Interest Rate
3.5%
Mortgage Type
FHA

Purchase Details

Closed on
Jun 6, 2005
Sold by
Deande Erlinda
Bought by
Deande Erlinda and The Erlinda De Ande Revocable Living Tr

Purchase Details

Closed on
May 27, 2003
Sold by
Lopez Manuel and Deande Erlinda
Bought by
Deande Erlinda

Purchase Details

Closed on
Nov 9, 2000
Sold by
Lopez Consuelo
Bought by
Lopez Consuelo and The Consuelo Lopez Family Trust
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 Property Llc -- None Available
Farber Christophe $528,000 First American Title Company
Deande Erlinda -- --
Deande Erlinda -- Commerce Title
Lopez Consuelo -- Commerce Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Farber Christophe $473,646
Previous Owner Deande Erlinda $100,000
Previous Owner Deande Erlinda $50,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
09/12/2012 09/12/12 Sold $528,000 -7.4% $115 / Sq Ft
07/06/2012 07/06/12 Pending -- -- --
04/12/2012 04/12/12 For Sale $570,000 -- $124 / 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 $8,296 $650,181 $221,651 $428,530
2024 $8,296 $637,433 $217,305 $420,128
2023 $8,144 $624,936 $213,045 $411,891
2022 $7,781 $612,683 $208,868 $403,815
2021 $7,664 $600,671 $204,773 $395,898
2019 $7,443 $582,856 $198,700 $384,156
2018 $7,315 $571,428 $194,804 $376,624
2016 $6,955 $549,241 $187,241 $362,000
2015 $6,857 $540,992 $184,429 $356,563
2014 $6,902 $530,396 $180,817 $349,579
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: C12046900

California Regional Multiple Listing Service (CRMLS)

APN: 5185-027-021