NOT LISTED FOR SALE

Estimated Value: $2,569,000 - $11,015,485

3 Beds
3 Baths
2,596 Sq Ft
$2,616/Sq Ft Est. Value

Last Sold March 20, 2023

Last sale price $12,500,000 $4,815 Per Sq Ft

Est. 46% decrease in value since last sale

Current estimated payment $49,797/month

56 Days on Market

Highlights

  • Ocean View
  • Midcentury Modern Architecture
  • No HOA
  • In Ground Pool
  • Family Room with Fireplace
  • Built-In Features

About This Home

As of March 2023

The "Garcia House", an iconic masterpiece designed by the world-renowned architect, John Lautner. Built in 1962, the home underwent a historic restoration by Marmol Radziner, with a focus on preserving original details and functionality. The property boasts a number of timeless features including a lava rock entryway, original terrazzo flooring, signature parabolic roof, a 55-foot wall of windows, and 60-foot caissons elevating the structure above the canyon, showcasing breathtaking panoramic views of Los Angeles. A descent down the hillside steps brings you through the verdant garden, designed by landscape architect John Sharp, to the pool which was built in 2008 using Lautner's original design. Capture your place in history and experience a home that truly transcends time.

Last Agent to Sell the Property

Aaron Kirman

Christie's International Real Estate SoCal License #01296524 Listed on: 01/18/2023

Christie's International Real Estate SoCal

Co-Listed By

Weston Littlefield

Christie's International Real Estate SoCal License #02053581

Last Buyer's Agent

Nichole Shanfeld

Carolwood Estates License #02093007

Carolwood Estates

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $153,458

Year Built

  • Built in 1961

Lot Details

  • 9,601 Sq Ft Lot
  • Lot Dimensions are 126x77
  • Property is zoned LAR1

Property Views

  • Ocean
  • City Lights
  • Woods
  • Canyon
  • Hills

Home Design

  • Midcentury Modern Architecture

Interior Spaces

  • 2,596 Sq Ft Home
  • 2-Story Property
  • Built-In Features
  • Family Room with Fireplace
  • Dining Area
  • Alarm System
  • Oven or Range

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 3 Full Bathrooms

Laundry

  • Laundry Room
  • Dryer
  • Washer

Parking

  • 2 Parking Spaces
  • Auto Driveway Gate
  • Driveway

Additional Features

  • In Ground Pool
  • Central Heating and Cooling System

Community Details

  • No Home Owners Association

Listing and Financial Details

  • Assessor Parcel Number 5570-007-031

Home Details

Home Type

Single Family

Est. Annual Taxes

$153,458

Year Built

Built in 1961

Lot Details

0

Listing Details

  • Property Type: Residential
  • Property Sub Type: Single Family Residence
  • Style: Mid-Century
  • Street Number Display: Yes
  • Living Area: 2596
  • Lot Acreage: 0.2204
  • Lot Dimensions: 126x77
  • Stories: 2
  • Year Built: 1961
  • Number Of Photos: 15
  • State Abbrv: CA
  • Special Features: None

Interior Features

  • Fireplace Rooms: Family Room
  • Flooring: Mixed
  • Bedrooms: 3
  • Full Bathroom: 3
  • Half Bathroom: 0
  • Common Walls: Detached/No Common Walls
  • One Quarter Bathrooms: 0
  • Three Quarter Bathrooms: 0
  • Dining Room: 0
  • Family Room: 1
  • Laundry: Laundry Area
  • Total Bathrooms: 3.00
  • Den: 0
  • Equipment: Alarm System, Washer, Dryer, Built-Ins, Range/Oven, Refrigerator
  • Price Per S Q F T: 6163.33

Exterior Features

  • Other Structures: None
  • Pool Description: In Ground, Private
  • Pool: Yes
  • Spa Yn: No
  • View: Hills, City Lights, City, Canyon, Tree Top, Trees/Woods, Ocean
  • View: Yes

Garage/Parking

  • Parking Garage: Driveway, Driveway Gate
  • Total Parking: 2

Utilities

  • Cooling: Air Conditioning, Central
  • Heating: Central

Condo/Co-op/Association

  • HOA: No

Lot Info

  • Assessor Parcel Number: 5570-007-031
  • Lot Size Area: 9601

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 18, 2023
Closed on
Feb 28, 2023
Sold by
Damaschke/Mcilwee Trust
Bought by
Rainbow House Llc
Seller's Agent
Aaron Kirman
Christie's International Real Estate SoCal
Buyer's Agent
Nichole Shanfeld
Carolwood Estates
List Price
$16,000,000
Sold Price
$12,500,000
Premium/Discount to List
-$3,500,000
-21.88%
Views
396
Current Estimated Value
$6,792,243

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$5,707,757
Avg. Annual Appreciation
-18.30%

Purchase Details

Closed on
Sep 9, 2014
Sold by
Mcilwee John William and John William Mcilwee Trust
Bought by
Damaschke Mcilwee Trust

Purchase Details

Closed on
Nov 15, 2006
Sold by
Mcilwee John and Damaschke William J
Bought by
Mcilwee John William and John William Mcilwee Trust

Purchase Details

Closed on
Feb 1, 2002
Sold by
Gallo Vincent
Bought by
Mcilwee John and Damaschke William J

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$960,000
Interest Rate
6.12%

Purchase Details

Closed on
Aug 5, 1997
Sold by
Grey David A Tr David A Grey Trust
Bought by
Gallo Vincent

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$415,125
Interest Rate
3.95%
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
Rainbow House Llc $12,500,000 Pacific Coast Title Company
Damaschke Mcilwee Trust -- None Available
Mcilwee John William -- Accommodation
Mcilwee John -- California Title Company
Mcilwee John -- California Title Company
Gallo Vincent -- Fidelity National Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Damaschke William J $695,000
Previous Owner Damaschke William J $1,630,000
Previous Owner Mcilwee John William $650,000
Previous Owner Damaschke William J $1,100,000
Previous Owner Mcilwee John William $680,000
Previous Owner Mcilwee John William $729,750
Previous Owner Damaschke William J $650,000
Previous Owner Mcilwee John $650,000
Previous Owner Damaschke William J $270,000
Previous Owner Mcilwee John $992,000
Previous Owner Mcilwee John $992,000
Previous Owner Mcilwee John $119,950
Previous Owner Mcilwee John $960,000
Previous Owner Gallo Vincent $415,125
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
03/20/2023 03/20/23 Sold $12,500,000 -21.9% $4,815 / Sq Ft
03/15/2023 03/15/23 Pending -- -- --
01/18/2023 01/18/23 For Sale $16,000,000 -- $6,163 / 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 $153,458 $13,005,000 $8,843,400 $4,161,600
2024 $153,458 $12,750,000 $8,670,000 $4,080,000
2023 $23,657 $1,937,626 $943,399 $994,227
2022 $22,582 $1,899,634 $924,901 $974,733
2021 $22,305 $1,862,387 $906,766 $955,621
2020 $22,467 $1,843,292 $897,469 $945,823
2019 $21,568 $1,807,150 $879,872 $927,278
2018 $21,473 $1,771,717 $862,620 $909,097
2016 $20,505 $1,702,921 $829,124 $873,797
2015 $20,124 $1,677,342 $816,670 $860,672
2014 $20,263 $1,644,486 $800,673 $843,813
Source: Public Records

Agents Affiliated with this Home

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Map

Source: The MLS

MLS Number: 23-230915

The MLS

APN: 5570-007-031