NOT LISTED FOR SALE

Estimated Value: $602,000 - $857,000

5 Beds
4 Baths
2,000 Sq Ft
$370/Sq Ft Est. Value

Last Sold March 10, 2020

Last sale price $500,001 $250 Per Sq Ft

Est. 48% increase in value since last sale

Current estimated payment $4,344/month

104 Days on Market

About This Home

As of March 2020

The Subject property is a part of a 5-property portfolio, which is a true value-add investment opportunity located throughout Los Angeles totaling 24 units; the properties are located among South Park and South Los Angeles neighborhoods. The subject properties present an impressive unit mix throughout consisting of 22 one-bedrooms and 2 two-bedrooms; the majority of the units are currently at below market rents offering an investor a true value-add opportunity and the chance to increase cash flow dramatically through renovations. The portfolio is being offered at a low price per unit of $150,417 blended; significant loss-to-lease of over 43%. With current rents below market and the subject properties being just 4-6 units, unit turnover and the achievement of market rents over time will dramatically increase the income and value of each property on an individual basis.* This offering can be purchased individually or collectively

Last Agent to Sell the Property

Neema Ahadian

Marcus & Millichap License #01346750 Listed on: 10/22/2019

Last Buyer's Agent

Neema Ahadian

Marcus & Millichap License #01346750 Listed on: 10/22/2019

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1927

Lot Details

  • 5,503 Sq Ft Lot

Interior Spaces

  • 2,000 Sq Ft Home
  • 1-Story Property

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 4 Bathrooms

Parking

  • 3 Open Parking Spaces
  • 3 Parking Spaces

Community Details

  • 4 Buildings
  • 4 Units

Listing and Financial Details

  • Assessor Parcel Number 6023-022-031

Property Details

Home Type

Multi-Family

Year Built

Built in 1927

Lot Details

5,503 Sq Ft Lot

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 2000
  • Price Per Unit: 177500.00
  • Stories: 1
  • Year Built: 1927
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 5
  • Total Bathrooms: 4.00
  • Price Per S Q F T: 355.00

Exterior Features

  • Other Structures: Other

Garage/Parking

  • Other Spaces: 3
  • Parking Garage: Uncovered
  • Total Parking: 3

Lot Info

  • Assessor Parcel Number: 6023-022-031
  • Geocode Override: No
  • Lot Size Area: 5503

Rental Info

  • Total Actual Rent: 4493.00

Multi Family

  • Unit Type: 2106, 2107
  • Gross Rent Multiplier: 13.10
  • Number Of Units: 4
  • Type Of Units: Apartment

Tax Info

  • Tax Percent: 1.17
  • Tax Rate Year: 2019

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 22, 2019
Closed on
Feb 25, 2020
Sold by
Sola Impact Fund Ii Lp
Bought by
Moga 1967 Lp
Seller's Agent
Neema Ahadian
Marcus & Millichap
Buyer's Agent
Neema Ahadian
Marcus & Millichap
List Price
$710,000
Sold Price
$500,001
Premium/Discount to List
-$209,999
-29.58%
Current Estimated Value
$740,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$239,999
Avg. Annual Appreciation
6.82%

Purchase Details

Closed on
Jul 13, 2017
Sold by
Avila Ramon
Bought by
Sola Impact Fund Ii Lp

Purchase Details

Closed on
Jun 5, 2006
Sold by
Madrigal Gonzalo and Avila Rosa
Bought by
Avila Ramon

Purchase Details

Closed on
Mar 29, 2004
Sold by
Parra Lucy
Bought by
Madrigal Gonzalo

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$271,800
Interest Rate
6.37%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Dec 11, 2002
Sold by
Sanchez Robert and Arias Sandra
Bought by
Parra Lucy

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$196,000
Interest Rate
8.37%

Purchase Details

Closed on
Dec 10, 2001
Sold by
Ponce Maria I
Bought by
Sanchez Robert

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$231,369
Interest Rate
6.85%
Mortgage Type
FHA

Purchase Details

Closed on
Dec 7, 2000
Sold by
Tun Pablo
Bought by
Ponce Maria I

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$207,000
Interest Rate
10.62%

Purchase Details

Closed on
Jun 20, 2000
Sold by
Martin H B H and Martin Eddie Mae
Bought by
Tun Pablo

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$155,000
Interest Rate
8.37%
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
Moga 1967 Lp $3,250,000 Provident Title
Sola Impact Fund Ii Lp $444,000 Ticor Title Co
Avila Ramon -- Accommodation
Madrigal Gonzalo $302,000 Gateway Title Company
Parra Lucy $245,000 Southland Title Company
Sanchez Robert $235,000 Southland Title
Ponce Maria I $230,000 Gateway Title Company
Tun Pablo $140,000 Southland Title Corporation
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Madrigal Gonzalo $271,800
Previous Owner Parra Lucy $196,000
Previous Owner Sanchez Robert $231,369
Previous Owner Ponce Maria I $207,000
Previous Owner Tun Pablo $155,000
Closed Parra Lucy $49,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/10/2020 03/10/20 Sold $500,001 -29.6% $250 / Sq Ft
02/03/2020 02/03/20 Pending -- -- --
10/22/2019 10/22/19 For Sale $710,000 -- $355 / Sq Ft
Source: The MLS

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 $6,387 $505,191 $341,347 $163,844
2024 $6,387 $495,286 $334,654 $160,632
2023 $6,269 $485,576 $328,093 $157,483
2022 $5,987 $476,056 $321,660 $154,396
2021 $5,909 $466,722 $315,353 $151,369
2020 $5,964 $462,357 $312,120 $150,237
2019 $5,739 $453,300 $306,000 $147,300
2018 $5,646 $444,420 $300,000 $144,420
2016 $6,631 $531,020 $219,334 $311,686
2015 $6,537 $523,045 $216,040 $307,005
2014 $6,581 $512,801 $211,809 $300,992
Source: Public Records

Agents Affiliated with this Home

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Map

Source: The MLS

MLS Number: 19-530460

The MLS

APN: 6023-022-031

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