NOT LISTED FOR SALE

8507 S Main St Los Angeles, CA 90003

Florence Neighborhood

Estimated Value: $914,000 - $1,172,000

9 Beds
3 Baths
3,456 Sq Ft
$307/Sq Ft Est. Value

Last Sold July 31, 2020

Last sale price $780,000 $226 Per Sq Ft

Est. 36% increase in value since last sale

Current estimated payment $6,382/month

62 Days on Market

About This Home

As of July 2020

Great income potential for this large 4 unit complex in South Los Angeles built 1990. Each unit is 3 bedrooms and 1 bathroom. Includes 8 parking spaces.

Last Agent to Sell the Property

Lisa Harris

RE/MAX College Park Realty License #01123960 Listed on: 04/22/2020

RE/MAX College Park Realty

Last Buyer's Agent

Juan Michael

Forward Real Estate License #01830409

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1990

Lot Details

  • 5,478 Sq Ft Lot
  • Two or More Common Walls
  • Density is up to 1 Unit/Acre

Home Design

  • 3,456 Sq Ft Home
  • Apartment

Bedrooms and Bathrooms

  • 9 Bedrooms
  • 3 Bathrooms

Parking

  • 8 Open Parking Spaces
  • 8 Parking Spaces

Outdoor Features

  • Exterior Lighting

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Legal Lot and Block 24 / B
  • Assessor Parcel Number 6040008027

Community Details

Overview

  • 4 Units

Building Details

  • 4 Leased Units
  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $600
  • Insurance Expense $1,500
  • Other Expense $173
  • Trash Expense $3,564
  • Water Sewer Expense $6,400
  • New Taxes Expense $11,250
  • Operating Expense $23,487
  • Gross Income $52,056
  • Net Operating Income $40,492

Property Details

Home Type

Multi-Family

Year Built

Built in 1990

Lot Details

0

Listing Details

  • Property Attached: Yes
  • Water Sewer Expenses: 6400.00
  • Zoning: LAC2
  • Property Type: Residential Income
  • Gardener Expense: 600.00
  • Parcel Number: 6040008027
  • Year Built: 1990
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 225.69

Exterior Features

  • Pool Private: No

Garage/Parking

  • Total Parking Spaces: 8.00
  • Uncovered Spaces: 8.00

Utilities

  • Utilities: Sewer Connected
  • Laundry: No
  • Sewer: Public Sewer
  • Trash Expense: 3564.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Sidewalks, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 5478.00
  • Lot Size Acres: 0.1258

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Average3 Bed Area: 800 Square Feet
  • Gross Income: 52056.00
  • Gross Scheduled Income: 52056.00
  • Insurance Expense: 1500.00
  • Lot Size Area: 5478.0000 Square Feet
  • Net Operating Income: 40492.00
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 4
  • Number Of Units Total: 4
  • Operating Expense: 11564.00
  • Other Expense: 173.00
  • Rent Control: No
  • Total Actual Rent: 4338.00
  • Total Expenses: 23487.00

Tax Info

  • New Taxes Expense: 11250.00
  • Tax Block: B
  • Tax Census Tract: 2397.02
  • Tax Lot: 24

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 22, 2020
Closed on
Jun 26, 2020
Sold by
Johnson Jermainet T and Johnso Lajoy Smith
Bought by
Triple Pb Properties Llc
Seller's Agent
Lisa Harris
RE/MAX College Park Realty
Buyer's Agent
Juan Michael
Forward Real Estate
List Price
$900,000
Sold Price
$780,000
Premium/Discount to List
-$120,000
-13.33%
Current Estimated Value
$1,060,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$280,000
Avg. Annual Appreciation
5.75%
Original Mortgage
$585,000
Interest Rate
3.1%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jul 14, 2006
Sold by
Johnson Jermaine and Johnson La Joy
Bought by
Johnson Jermaine T

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$500,000
Interest Rate
3%
Mortgage Type
Negative Amortization

Purchase Details

Closed on
Jul 12, 2006
Sold by
Johnson Jermaine T and Johnson Lajoy Smith
Bought by
Johnson Jermaine

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$500,000
Interest Rate
3%
Mortgage Type
Negative Amortization

Purchase Details

Closed on
Jun 30, 2004
Sold by
Johnson Jermaine T and Johnson Lajoy Smith
Bought by
Johnson Jermaine T

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$287,000
Interest Rate
5.5%
Mortgage Type
New Conventional

Purchase Details

Closed on
May 3, 2004
Sold by
Johnson Jermaine T and Smith Johnson Lajoy
Bought by
Johnson Jermaine T

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$287,000
Interest Rate
5.5%
Mortgage Type
New Conventional

Purchase Details

Closed on
Nov 6, 1997
Sold by
Kaskas Mohammad
Bought by
Patel Arpita S

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$217,332
Interest Rate
7.31%
Mortgage Type
FHA

Purchase Details

Closed on
Oct 25, 1995
Sold by
Heffesse Joseph
Bought by
Kaskas Mohammad

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$208,000
Interest Rate
7.62%
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
Triple Pb Properties Llc $780,000 Ticor Title Company Of Ca
Johnson Jermaine T -- Stewart Title
Johnson Jermaine -- Stewart Title
Johnson Jermaine T -- --
Johnson Jermaine T -- First American Title Co
Patel Arpita S $225,000 United Title
Kaskas Mohammad $260,000 Old Republic Title Company
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Closed Triple Pb Properties Llc $585,000
Previous Owner Johnson Jermaine $500,000
Previous Owner Johnson Jermaine T $287,000
Previous Owner Patel Arpita S $217,332
Previous Owner Kaskas Mohammad $208,000
Closed Johnson Jermaine T $64,500
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
07/31/2020 07/31/20 Sold $780,000 -2.5% $226 / Sq Ft
06/23/2020 06/23/20 Pending -- -- --
06/19/2020 06/19/20 Price Changed $799,900 -8.0% $231 / Sq Ft
05/19/2020 05/19/20 Price Changed $869,000 -1.8% $251 / Sq Ft
05/06/2020 05/06/20 Price Changed $885,000 -1.7% $256 / Sq Ft
04/22/2020 04/22/20 For Sale $900,000 -- $260 / 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 $10,538 $844,296 $432,972 $411,324
2024 $10,538 $827,742 $424,483 $403,259
2023 $10,340 $811,512 $416,160 $395,352
2022 $9,872 $795,600 $408,000 $387,600
2021 $9,740 $780,000 $400,000 $380,000
2020 $5,593 $418,734 $158,038 $260,696
2019 $5,389 $410,525 $154,940 $255,585
2018 $5,267 $402,476 $151,902 $250,574
2016 $5,009 $386,849 $146,004 $240,845
2015 $4,940 $381,039 $143,811 $237,228
2014 $4,981 $373,576 $140,994 $232,582
Source: Public Records

Agents Affiliated with this Home

  • Lisa Harris

    Seller's Agent in 2020

    Lisa Harris

    RE/MAX

    12 Total Sales

    Lisa Harris
    Section Image
  • Juan Michael

    Buyer's Agent in 2020

    Juan Michael

    Forward Real Estate

    (323) 873-6550

    1 in this area

    7 Total Sales

    Juan Michael
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW20077379

California Regional Multiple Listing Service (CRMLS)

APN: 6040-008-027

California Los Angeles County Los Angeles 90003 Florence

8507 S Main St, Los Angeles, CA

Not Listed for Sale

MultiFamily

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