NOT LISTED FOR SALE

7056 Ramsgate Ave Los Angeles, CA 90045

Westchester Neighborhood

Estimated Value: $1,151,000 - $1,700,000

4 Beds
4 Baths
2,430 Sq Ft
$608/Sq Ft Est. Value

Last Sold June 13, 2019

Last sale price $1,150,000 $473 Per Sq Ft

Est. 24% increase in value since last sale

Current estimated payment $9,213/month

280 Days on Market

About This Home

As of June 2019

Seller is very Motivated! Back on the Market!! We are proud to present 7056-7056 3/4 S Ramsgate, in the Westchester neighborhood of Los Angeles. This is a legal 4-plex, single house in front and triplex in back. Front House and Studio will be vacant at COE, back on the market but won't last. This property is a investor dream who is looking for a income property to house their cash that produce a cap rate of 5% or more with low maintenance overtime. The property has lots of upgrades such as: new roof, exterior paint, exterior gutters, security gate with remote controls, exterior wall, exterior patio area for tenants to entertain, gated exterior storage space, upgraded landscape, upgraded plumbing and electrical , each unit has single car garage with remotes, exterior laundry area that produces income. The owner unit has inside laundry area. The price is the lowest on the market!

Last Agent to Sell the Property

Ernestine Crews

Ernestine Crews License #01013911 Listed on: 08/10/2018

Last Buyer's Agent

Ike Obasi

First Vision Real Estate and Financial Services License #01465986

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $16,950

Year Built

  • Built in 1949

Lot Details

  • 6,686

Parking

  • 3 Parking Spaces

Interior Spaces

  • 2,430 Sq Ft Home
  • 2-Story Property
  • Oven or Range

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 4 Bathrooms

Additional Features

  • 6,686 Sq Ft Lot
  • Heating System Mounted To A Wall or Window

Community Details

  • 2 Buildings
  • 4 Units

Listing and Financial Details

  • Assessor Parcel Number 4103-018-004

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$16,950

Year Built

Built in 1949

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 2430
  • Stories: 2
  • Year Built: 1949
  • Number Of Photos: 39
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 4
  • Dining Room: 0
  • Family Room: 0
  • Total Bathrooms: 4.00
  • Den: 0
  • Equipment: Range/Oven
  • Price Per S Q F T: 530.45

Exterior Features

  • Tennis Court Y/N: No
  • Pool: No

Garage/Parking

  • Parking Garage: Garage - 3 Car
  • Total Parking: 3

Utilities

  • Heating: Wall

Lot Info

  • Assessed Improvement Value: 146933
  • Assessed Land Value: 237412
  • Assessor Parcel Number: 4103-018-004
  • Geocode Override: No
  • Lot Size Area: 6686

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109
  • Gross Rent Multiplier: 17.85
  • Number Of Units: 4
  • Total Annual Expense: 4800
  • Type Of Units: 4
  • Vacancy Rate: 5

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jun 17, 2021
Sold by
Garcia Eric R and Garcia Connie
Bought by
Osei Joel and Alhait Omar
Current Estimated Value
$1,431,604

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,020,000
Outstanding Balance
$927,496
Interest Rate
2.9%
Mortgage Type
New Conventional
Estimated Equity
$548,906

Purchase Details

Closed on
Oct 2, 2019
Sold by
Garcia Eric R and Garcia Connie
Bought by
Garcia Eric R and Garcia Connie

Purchase Details

Listed on
Aug 10, 2018
Closed on
May 15, 2019
Sold by
Garcia Eric and Garcia Connie
Bought by
The Garcia Family Living Trust
Seller's Agent
Ernestine Crews
Ernestine Crews
Buyer's Agent
Ike Obasi
First Vision Real Estate and Financial Services
List Price
$1,499,000
Sold Price
$1,150,000
Premium/Discount to List
-$349,000
-23.28%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
4.13%
Original Mortgage
$862,500
Interest Rate
4%
Mortgage Type
New Conventional

Purchase Details

Listed on
Aug 10, 2018
Closed on
May 6, 2019
Sold by
The Evelyn R Shannon Trust
Bought by
Garcia Eric and Garcia Connie
Seller's Agent
Ernestine Crews
Ernestine Crews
Buyer's Agent
Ike Obasi
First Vision Real Estate and Financial Services
List Price
$1,499,000
Sold Price
$1,150,000
Premium/Discount to List
-$349,000
-23.28%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$862,500
Interest Rate
4%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jun 23, 2007
Sold by
Shannon Evelyn R
Bought by
Shannon Evelyn R

Purchase Details

Closed on
Oct 18, 1999
Sold by
Bankers Trust Company
Bought by
Wright Cathryn L and Shannon Evelyn R

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$266,670
Interest Rate
4.95%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
May 19, 1999
Sold by
Lal Chand and Singh Prem
Bought by
Salomon Brothers Mtg Securities Vii Inc

Purchase Details

Closed on
Jun 12, 1996
Sold by
Baughman Richard M and Baughman Ruth A
Bought by
Lal Chand and Singh Prem

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$255,000
Interest Rate
9.75%
Mortgage Type
Purchase Money Mortgage
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
Osei Joel $1,300,000 Lawyers Title
Garcia Eric R -- None Available
The Garcia Family Living Trust -- North American Title
Garcia Eric $1,150,000 North American Title
Shannon Evelyn R -- None Available
Wright Cathryn L $296,500 First American
Salomon Brothers Mtg Securities Vii Inc $263,665 First American Title Ins Co
Lal Chand $335,000 Gateway Title Company
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Osei Joel $1,020,000
Previous Owner The Garcia Family Living Trust $862,500
Previous Owner Shannon Evelyn $562,500
Previous Owner Shannon Evelyn R $420,000
Previous Owner Shannon Evelyn R $324,000
Previous Owner Wright Cathryn L $266,670
Previous Owner Lal Chand $255,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/13/2019 06/13/19 Sold $1,150,000 -10.8% $473 / Sq Ft
05/17/2019 05/17/19 Pending -- -- --
04/05/2019 04/05/19 Price Changed $1,289,000 -0.8% $530 / Sq Ft
02/28/2019 02/28/19 Price Changed $1,299,000 -4.4% $535 / Sq Ft
01/16/2019 01/16/19 Price Changed $1,359,000 -2.9% $559 / Sq Ft
09/06/2018 09/06/18 Price Changed $1,399,000 -6.7% $576 / Sq Ft
08/10/2018 08/10/18 For Sale $1,499,000 -- $617 / 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 $16,950 $1,407,161 $1,120,317 $286,844
2024 $16,950 $1,379,570 $1,098,350 $281,220
2023 $16,625 $1,352,520 $1,076,814 $275,706
2022 $15,856 $1,326,000 $1,055,700 $270,300
2021 $14,307 $1,185,151 $927,510 $257,641
2020 $14,454 $1,173,000 $918,000 $255,000
2019 $8,972 $399,871 $247,003 $152,868
2018 $17,551 $392,031 $242,160 $149,871
2016 $4,740 $376,809 $232,757 $144,052
2015 $4,673 $371,150 $229,261 $141,889
2014 $4,709 $363,881 $224,771 $139,110
Source: Public Records

Agents Affiliated with this Home

  • Ernestine Crews

    Seller's Agent in 2019

    Ernestine Crews

    Ernestine Crews

    (310) 686-4718

    10 Total Sales

    Section Image

  • I

    Buyer's Agent in 2019

    Ike Obasi

    First Vision Real Estate and Financial Services

    (310) 649-2028

    10 Total Sales

    Section Image
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Map

Source: The MLS

MLS Number: 18-374702

The MLS

APN: 4103-018-004

California Los Angeles County Los Angeles 90045 Westchester

7056 Ramsgate Ave, Los Angeles, CA

This home is located at 7056 Ramsgate Ave, Los Angeles, CA 90045 since 10 August 2018 and is currently estimated at $1,476,402, approximately $607 per square foot. This property was built in 1949. 7056 Ramsgate Ave is a home located in Los Angeles County with nearby schools including Westport Heights Elementary, Wright Middle School STEAM Magnet, and Westchester Enriched Sciences Magnets.

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