$3,186,000
SOLD MAY 3, 2019 RENTED AUG 23, 2024
8 Beds
9 Baths
6,054 Sq Ft
7,171 Sq Ft Lot

Recently Sold

$526 Per Sq Ft

8% Below List Price

109 Days on Market

About This Home

As of May 2019

We are pleased to present eight units located in Prime Los Angeles. 7714 Rosewood Avenue is constructed in 1926 and consists of eight 1 bedroom / 1 bathroom units plus a vacant artist studio. Seven of the eight units have been professionally upgraded with new kitchens, bathrooms, hardwood floors, stainless steel appliances, antique lighting, in-unit washers & dryers and much more. The building itself has been upgraded with new electrical, copper plumbing, main line water service, drought resistant landscaping, common area spaces, etc. The offering is well situated two blocks south of Melrose Avenue on a corner lot across from Fairfax High School and less than a mile from premier shopping and dining in The Grove. The subject property offers a savvy investor the rare opportunity to raise rents to market in a dense rental pocket.

Last Agent to Sell the Property

Filip Niculete

Marcus & Millichap License #01905352 Listed on: 01/07/2019

Last Buyer's Agent

Filip Niculete

Marcus & Millichap License #01905352 Listed on: 01/07/2019

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $42,975

Year Built

  • Built in 1926

Lot Details

  • 7,171 Sq Ft Lot

Parking

  • 8 Parking Spaces

Interior Spaces

  • 6,054 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 9 Bathrooms

Community Details

  • 8 Units

Listing and Financial Details

  • Assessor Parcel Number 5527-027-037

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$42,975

Year Built

Built in 1926

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 6054
  • Stories: 2
  • Year Built: 1926
  • Number Of Photos: 8
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 8
  • Dining Room: 0
  • Family Room: 0
  • Total Bathrooms: 9.00
  • Den: 0
  • Price Per S Q F T: 544.27

Exterior Features

  • Tennis Court Y/N: No
  • Pool: No

Garage/Parking

  • Total Parking: 8

Lot Info

  • Assessed Improvement Value: 1219087
  • Assessed Land Value: 1795616
  • Assessor Parcel Number: 5527-027-037
  • Geocode Override: No
  • Lot Size Area: 7171

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109, 2110, 2111, 2112, 2113
  • Gross Rent Multiplier: 16.97
  • Number Of Units: 8
  • Total Annual Expense: 64903
  • Type Of Units: Stamdard
  • Vacancy Rate: 3%

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 7, 2019
Closed on
Mar 22, 2019
Sold by
Shift 4 Data Systems Llc
Bought by
7714 Rosewood Lp
Seller's Agent
Filip Niculete
Marcus & Millichap
Buyer's Agent
Filip Niculete
Marcus & Millichap
List Price
$3,445,000
Sold Price
$3,186,000
Premium/Discount to List
-$259,000
-7.52%
Current Estimated Value
$4,572,561

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$1,386,561
Avg. Annual Appreciation
2.88%
Original Mortgage
$1,550,000
Interest Rate
4.2%
Mortgage Type
Commercial

Purchase Details

Closed on
Apr 7, 2014
Sold by
Rosewood Ob Llc
Bought by
Shift 4 Data Systems Llc

Purchase Details

Closed on
Nov 17, 2011
Sold by
Lashen Daniel and Lashen Irving
Bought by
Rosewood Ob Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$800,000
Interest Rate
3.94%
Mortgage Type
Commercial
Source: Public Records

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Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Type Sale Price Title Company
Grant Deed $3,186,000 Ticor Title
Grant Deed $2,850,028 Chicago Title Company
Grant Deed $1,250,000 North American Title Company
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $2,260,000 Commercial
Closed $1,550,000 Commercial
Previous Owner $2,400,000 Commercial
Previous Owner $800,000 Unknown
Previous Owner $250,000 Commercial
Previous Owner $500,000 Commercial
Previous Owner $800,000 Commercial
Previous Owner $616,000 Commercial
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/23/2024 08/23/24 Rented $2,895 +3.6% --
08/19/2024 08/19/24 Price Changed $2,795 -3.5% $3 / Sq Ft
08/07/2024 08/07/24 For Rent $2,895 0.0% --
05/03/2019 05/03/19 Sold $3,186,000 -3.3% $526 / Sq Ft
04/26/2019 04/26/19 Pending -- -- --
03/13/2019 03/13/19 Price Changed $3,295,000 -2.9% $544 / Sq Ft
02/11/2019 02/11/19 Price Changed $3,395,000 -1.5% $561 / Sq Ft
01/07/2019 01/07/19 For Sale $3,445,000 -- $569 / 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 $42,975 $3,554,039 $2,661,626 $892,413
2024 $42,975 $3,484,353 $2,609,438 $874,915
2023 $42,149 $3,416,033 $2,558,273 $857,760
2022 $40,205 $3,349,053 $2,508,111 $840,942
2021 $39,709 $3,283,386 $2,458,933 $824,453
2019 $2,169 $3,004,825 $1,868,158 $1,136,667
2018 $37,790 $3,075,196 $1,831,528 $1,243,668
2016 $36,050 $2,951,272 $1,760,408 $1,190,864
2015 $35,526 $2,906,943 $1,733,966 $1,172,977
2014 $16,545 $1,280,788 $666,010 $614,778
Source: Public Records

Agents Affiliated with this Home

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Map

Source: The MLS

MLS Number: 19-420308

The MLS

APN: 5527-027-037