NOT LISTED FOR SALE

721 E 42nd Place Los Angeles, CA 90011

Historic South Central Neighborhood

Estimated Value: $547,000 - $870,000

6 Beds
3 Baths
2,623 Sq Ft
$279/Sq Ft Est. Value

Last Sold November 28, 2018

Last sale price $540,000 $206 Per Sq Ft

Est. 35% increase in value since last sale

Current estimated payment $4,612/month

43 Days on Market

About This Home

As of November 2018

Large 3-unit income producing property, conveniently located in Downtown Los Angeles, minutes from Exposition Park. 2 separate buildings each fenced with a spacious front lawn. The first building is a huge upstair/downstair combo features a 1 Bed/1 bath unit and another 2 Bed/1bath unit. The 2nd stand-along building is gated with its own private yard, like a single family home and consists of 3 Bed/ 1 bath. All 3 units are spacious and very well-kept with long term tenants. Owner have not raise rent in years, and this is why the rent is so low. Minimal maintenance, easy to manage with current cap rate at 5.37%. Not to be missed!

Last Agent to Sell the Property

Danny Hy

Pinnacle Real Estate Group License #01917877 Listed on: 09/26/2018

Pinnacle Real Estate Group

Last Buyer's Agent

Aaron Mejia

Christie's Int. R.E. SoCal License #01896881

Christie's Int. R.E. SoCal

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $7,531

Year Built

  • Built in 1925

Lot Details

  • 5,179 Sq Ft Lot
  • Two or More Common Walls
  • Density is 2-5 Units/Acre

Home Design

  • Triplex

Interior Spaces

  • 2,623 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 3 Bathrooms

Laundry

  • Laundry Room
  • Laundry Located Outside

Listing and Financial Details

  • Tax Tract Number 1111
  • Assessor Parcel Number 5115005013

Community Details

Overview

  • 2 Buildings
  • 3 Units

Building Details

  • Rent Control
  • 3 Separate Electric Meters
  • 3 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $180
  • Insurance Expense $480
  • Trash Expense $180
  • Water Sewer Expense $150
  • New Taxes Expense $6,725
  • Gross Income $39,120
  • Net Operating Income $34,710

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$7,531

Year Built

Built in 1925

Lot Details

0

Listing Details

  • CapRate: 5.37
  • Property Attached: Yes
  • Water Sewer Expenses: 150.00
  • Zoning: LAR2
  • Property Sub Type: Triplex
  • Property Type: Residential Income
  • Parcel Number: 5115005013
  • Year Built: 1925
  • Special Features: None

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 205.87

Exterior Features

  • Pool Private: No

Utilities

  • Laundry: Yes
  • Laundry Features: Outside
  • Sewer: Public Sewer
  • Trash Expense: 180.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 2-5 Units/Acre
  • Lot Size Sq Ft: 5179.00
  • Lot Size Acres: 0.1189

Multi Family

  • Electric Expense: 180.00
  • Gross Income: 39120.00
  • Gross Scheduled Income: 39120.00
  • Insurance Expense: 480.00
  • Lot Size Area: 5179.0000 Square Feet
  • Net Operating Income: 34710.00
  • Number Of Separate Electric Meters: 3
  • Number Of Separate Gas Meters: 3
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 3
  • Operating Expense: 4410.00
  • Rent Control: Yes

Tax Info

  • New Taxes Expense: 6725.00
  • Tax Census Tract: 2283.20
  • Tax Tract Number: 1111

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Sep 26, 2018
Closed on
Nov 15, 2018
Sold by
Tan Chi Ming and Gong Miaorong
Bought by
Mendoza Brandon
Seller's Agent
Danny Hy
Pinnacle Real Estate Group
Buyer's Agent
Aaron Mejia
Christie's Int. R.E. SoCal
List Price
$538,000
Sold Price
$540,000
Premium/Discount to List
$2,000
0.37%
Current Estimated Value
$731,142

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$191,142
Avg. Annual Appreciation
6.10%
Original Mortgage
$486,000
Outstanding Balance
$429,010
Interest Rate
4.8%
Mortgage Type
New Conventional
Estimated Equity
$375,674

Purchase Details

Closed on
Apr 13, 2015
Sold by
Drake Christopher C and Drake Katie M
Bought by
Tan Chi Ming and Gong Miaorong

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$362,230
Interest Rate
3.64%
Mortgage Type
FHA

Purchase Details

Listed on
Jun 5, 2013
Closed on
Apr 26, 2013
Sold by
Trew International Llc
Bought by
Drake Christopher C and Drake Katie M
Seller's Agent
Larry Holmes
Larry Holmes, Broker
Buyer's Agent
Larry Holmes
Larry Holmes, Broker
List Price
$325,000
Sold Price
$320,000
Premium/Discount to List
-$5,000
-1.54%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
7.83%
Original Mortgage
$314,204
Interest Rate
3.37%
Mortgage Type
FHA

Purchase Details

Closed on
Nov 12, 2010
Sold by
Uni Source Llc
Bought by
Trew International Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$150,000
Interest Rate
4.18%
Mortgage Type
Unknown

Purchase Details

Closed on
Aug 31, 2010
Sold by
Bac Home Loan Servicing Lp
Bought by
Uni Source Llc

Purchase Details

Closed on
Feb 19, 2008
Sold by
Spencer Wayne
Bought by
Federal Home Loan Mortgage Corporation

Purchase Details

Closed on
Feb 10, 2006
Sold by
Champion Christopher
Bought by
Spencer Wayne

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$440,000
Interest Rate
6.2%
Mortgage Type
New Conventional

Purchase Details

Closed on
Aug 23, 2005
Sold by
Wilson Maude E and The Maude E Wilson Revocable T
Bought by
Champion Christopher

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$384,750
Interest Rate
9.27%
Mortgage Type
Fannie Mae Freddie Mac
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
Mendoza Brandon $540,000 Ticor Title Company Of Calif
Tan Chi Ming $445,000 Landwood Title Company
Drake Christopher C $329,000 Fidelity Title Company
Trew International Llc $175,001 Fidelity National Title Co
Uni Source Llc -- None Available
Federal Home Loan Mortgage Corporation $475,000 Fidelity Natl Title Ins Co
Spencer Wayne $550,000 Ort
Champion Christopher $405,000 Ort
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Mendoza Brandon $486,000
Previous Owner Tan Chi Ming $348,000
Previous Owner Tan Chi Ming $362,230
Previous Owner Drake Christopher C $314,204
Previous Owner Trew International Llc $150,000
Previous Owner Trew International Llc $156,750
Previous Owner Trew International Llc $150,000
Previous Owner Trew International Llc $135,000
Previous Owner Spencer Wayne $440,000
Previous Owner Champion Christopher $384,750
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
11/28/2018 11/28/18 Sold $540,000 +0.4% $206 / Sq Ft
11/08/2018 11/08/18 Pending -- -- --
09/26/2018 09/26/18 For Sale $538,000 +68.1% $205 / Sq Ft
06/03/2013 06/03/13 Sold $320,000 -1.5% $122 / Sq Ft
04/30/2013 04/30/13 Pending -- -- --
03/16/2013 03/16/13 For Sale $325,000 -- $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 $7,531 $602,374 $423,894 $178,480
2024 $7,531 $590,564 $415,583 $174,981
2023 $7,390 $578,985 $407,435 $171,550
2022 $7,054 $567,634 $399,447 $168,187
2021 $6,959 $556,505 $391,615 $164,890
2020 $7,025 $550,800 $387,600 $163,200
2019 $6,756 $540,000 $380,000 $160,000
2018 $5,940 $470,035 $264,065 $205,970
2016 $5,660 $451,785 $253,812 $197,973
2015 $4,294 $337,095 $184,429 $152,666
2014 $4,655 $330,493 $180,817 $149,676
Source: Public Records

Agents Affiliated with this Home

  • Danny Hy

    Seller's Agent in 2018

    Danny Hy

    Pinnacle Real Estate Group

    (626) 831-2709

    59 Total Sales

    Danny Hy
    Section Image

  • A

    Buyer's Agent in 2018

    Aaron Mejia

    Christie's Int. R.E. SoCal

    Section Image

  • L

    Seller's Agent in 2013

    Larry Holmes

    Larry Holmes, Broker

See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: AR18234941

California Regional Multiple Listing Service (CRMLS)

APN: 5115-005-013

California Los Angeles County Los Angeles 90011 Historic South Central

721 E 42nd Place, Los Angeles, CA

This home is located at 721 E 42nd Place, Los Angeles, CA 90011 since 26 September 2018 and is currently estimated at $731,142, approximately $278 per square foot. This property was built in 1925. 721 E 42nd Place is a home located in Los Angeles County with nearby schools including Harmony Elementary School, George Washington Carver Middle School, and Thomas Jefferson Senior 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.

California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. 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

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