NOT LISTED FOR SALE

721 School Ave East Los Angeles, CA 90022

Estimated Value: $852,000 - $852,684

3 Beds
6 Baths
2,260 Sq Ft
$377/Sq Ft Est. Value

Last Sold April 05, 2024

Last sale price $820,000 $363 Per Sq Ft

Est. 4% increase in value since last sale

Current estimated payment $4,930/month

19 Days on Market

About This Home

As of April 2024

We are pleased to present 721 School Ave, a remarkable 6-unit multifamily property located in the heart of East Los Angeles. This unique property, featuring three separate structures, is being offered for sale for the first time in nearly 40 years.Built in 1941, the property consists of (3) one-bedroom units and (3) studio units, providing a total of 2,260 square feet of rentable space on a spacious 6,892 square foot lot. A notable feature of this property is the inclusion of (4) parking garages, which offer potential for conversion into ADUs (subject to buyer verification) or can be used to generate additional income through parking and/or storage fees.Situated near Whittier Blvd, a major thoroughfare in East Los Angeles, Montebello, and Whittier, 721 School Ave offers exceptional accessibility. It is conveniently located close to the 5/60/710 freeways and the Metro Gold Line's Atlantic Station, providing residents with easy commuting options. The property is also within close proximity to the famous Citadel Outlets, adding to its desirability.For the savvy investor, there is an opportunity to achieve nearly a 75% upside in rents through strategic renovations as future vacancies arise, making this an attractive investment in the bustling East Los Angeles market.

Last Agent to Sell the Property

Sevak Keshishian

Marcus & Millichap License #01887505 Listed on: 02/22/2024

Last Buyer's Agent

Sevak Keshishian

Marcus & Millichap License #01887505 Listed on: 02/22/2024

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $4,662

Year Built

  • Built in 1941

Lot Details

  • 6,894

Parking

  • 4 Car Attached Garage
  • 2 Open Parking Spaces
  • Driveway

Home Design

  • 2,260 Sq Ft Home
  • Split Level Home

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 6 Bathrooms

Utilities

  • Cooling System Mounted To A Wall/Window
  • Heating System Mounted To A Wall or Window

Additional Features

  • Oven or Range
  • 6,894 Sq Ft Lot

Listing and Financial Details

  • Tenant pays for gas, electricity
  • The owner pays for water
  • Assessor Parcel Number 6342-034-027

Community Details

Overview

  • 3 Buildings
  • 6 Units

Building Details

  • Vacancy Allowance $2,045

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$4,662

Year Built

Built in 1941

Lot Details

0

Parking

4

Listing Details

  • Property Type: Residential Income
  • Levels: Multi/Split
  • Street Number Display: Yes
  • Living Area: 2260
  • Lot Acreage: 0.1583
  • Probate: No
  • Year Built: 1941
  • Number Of Photos: 8
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 0

Interior Features

  • Bedrooms: 3
  • Common Walls: Attached
  • Total Bathrooms: 6.00
  • Equipment: Refrigerator, Range/Oven
  • Price Per S Q F T: 353.98

Exterior Features

  • Other Structures: None

Garage/Parking

  • Garage Spaces: 4
  • Other Spaces: 2
  • Parking Garage: Garage Is Attached, Uncovered, Driveway
  • Total Parking: 6

Utilities

  • Cooling: Wall/Window
  • Heating: Wall

Lot Info

  • Assessed Improvement Percent: 66.01
  • Assessed Improvement Value: 80584
  • Assessed Land Percent: 33.99
  • Assessed Land Value: 41489
  • Total Assessed Value: 122073
  • Assessor Parcel Number: 6342-034-027
  • Lot Size Area: 6894

Rental Info

  • Owner Pays: Water
  • Tenant Pays: Gas, Electricity

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109, 2110, 2111
  • Gross Rent Multiplier: 12.03
  • Number Of Units: 6
  • Total Annual Expense: 22972
  • Type Of Units: Standard
  • Vacancy Allow: 2045
  • Vacancy Rate: 0

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Feb 22, 2024
Closed on
Apr 1, 2024
Sold by
Becerra Family Revocable Trust and Becerra Guadalupe V
Bought by
Shakti St Joseph Llc
Seller's Agent
Sevak Keshishian
Marcus & Millichap
Buyer's Agent
Sevak Keshishian
Marcus & Millichap
List Price
$800,000
Sold Price
$820,000
Premium/Discount to List
$20,000
2.5%
Views
57
Current Estimated Value
$852,342

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$32,342
Avg. Annual Appreciation
0.75%

Purchase Details

Closed on
Sep 18, 2009
Sold by
Becerra Guadalupe V and Becerra Corine V
Bought by
Becerra Guadalupe V and Becerra Corine V
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
Shakti St Joseph Llc $820,000 Ticor Title Company
Becerra Guadalupe V -- None Available
Becerra Guadalupe V -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Becerra Guadalupe $70,287
Previous Owner Becerra Guadalupe $81,006
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/05/2024 04/05/24 Sold $820,000 +2.5% $363 / Sq Ft
03/12/2024 03/12/24 Pending -- -- --
02/22/2024 02/22/24 For Sale $800,000 -- $354 / 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 $4,662 $836,400 $612,000 $224,400
2024 $4,662 $124,513 $42,318 $82,195
2023 $4,488 $122,073 $41,489 $80,584
2022 $4,411 $119,680 $40,676 $79,004
2021 $4,328 $117,334 $39,879 $77,455
2019 $4,251 $113,856 $38,698 $75,158
2018 $4,159 $111,625 $37,940 $73,685
2016 $3,986 $107,293 $36,468 $70,825
2015 $3,885 $105,683 $35,921 $69,762
2014 $3,892 $103,614 $35,218 $68,396
Source: Public Records

Agents Affiliated with this Home

  • Sevak Keshishian

    Seller's Agent in 2024

    Sevak Keshishian

    Marcus & Millichap

    (818) 212-2700

    1 in this area

    57 Total Sales

    Sevak Keshishian
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Map

Source: The MLS

MLS Number: 24-361285

The MLS

APN: 6342-034-027

California Los Angeles County East Los Angeles 90022

721 School Ave, East Los Angeles, CA

This home is located at 721 School Ave, East Los Angeles, CA 90022 since 22 February 2024 and is currently estimated at $852,342, approximately $377 per square foot. This property was built in 1941. 721 School Ave is a home located in Los Angeles County with nearby schools including Joseph A. Gascon Elementary School, Eastmont Intermediate School, and Schurr High School.

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The MLS © 2025 The MLS™ - Combined L.A. Westside MLS (CLAW). All rights reserved. Based on information from The MLS™ - Combined L.A. Westside MLS (CLAW). 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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