NOT LISTED FOR SALE

Estimated Value: $2,508,885 - $3,234,000

4 Beds
4 Baths
2,920 Sq Ft
$965/Sq Ft Est. Value

Last Sold September 30, 2019

Last sale price $2,190,000 $750 Per Sq Ft

Est. 29% increase in value since last sale

Current estimated payment $17,195/month

14 Days on Market

About This Home

As of September 2019

The perfect owner/user property, with the opportunity for ALL THREE UNITS to be delivered VACANT at the close of escrow. This one of a kind income property in the heart of Venice features a town-home style 2b/2b owner/user unit. 905 Palms presents a Buyer with a rare opportunity to acquire a value-add asset walking distance to the best of Lincoln Blvd. and a short bike to Abbot Kinney and Rose Ave. The two-bedroom, two-bathroom owner/user unit boasts soaring ceilings, a gas fireplace, private outdoor space and loads of natural light. The third unit is permitted as 'R3 Occupany'.

Last Agent to Sell the Property

Tyler Convery

Carolwood Estates License #01987795 Listed on: 08/07/2019

Carolwood Estates

Last Buyer's Agent

Nima Tehrany

Compass License #01305628

Compass

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1950

Lot Details

  • 5,403 Sq Ft Lot

Interior Spaces

  • 2,920 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 4 Bathrooms

Parking

  • 3 Parking Spaces
  • Assigned Parking

Community Details

  • 2 Buildings
  • 3 Units

Listing and Financial Details

  • Assessor Parcel Number 4241-009-016

Property Details

Home Type

Multi-Family

Year Built

Built in 1950

Lot Details

5,403 Sq Ft Lot

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 2920
  • Stories: 2
  • Year Built: 1950
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 4
  • Total Bathrooms: 4.00
  • Price Per S Q F T: 770.55

Exterior Features

  • Tennis Court Y/N: No
  • Pool: No

Garage/Parking

  • Parking Garage: Assigned
  • Total Parking: 3

Lot Info

  • Assessed Improvement Value: 483693
  • Assessed Land Value: 1154406
  • Assessor Parcel Number: 4241-009-016
  • Geocode Override: No
  • Lot Size Area: 5403

Multi Family

  • Unit Type: 2106, 2107, 2108
  • Gross Rent Multiplier: 14.42
  • Number Of Units: 3
  • Type Of Units: Apartments

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Aug 7, 2019
Closed on
Sep 26, 2019
Sold by
Miller Jeffrey Alan and Miller Sejal Shah
Bought by
Venice Palms Multi Llc
Seller's Agent
Tyler Convery
Carolwood Estates
Buyer's Agent
Nima Tehrany
Compass
List Price
$2,250,000
Sold Price
$2,190,000
Premium/Discount to List
-$60,000
-2.67%
Current Estimated Value
$2,816,971

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$626,971
Avg. Annual Appreciation
3.97%
Original Mortgage
$1,423,500
Outstanding Balance
$1,235,312
Interest Rate
3.05%
Mortgage Type
Adjustable Rate Mortgage/ARM
Estimated Equity
$1,581,659

Purchase Details

Closed on
Feb 23, 2017
Sold by
Miller Jeffrey Alan and Jeffrey Alan Miller Living Tru
Bought by
Miller Jeffrey Alan and Miller Sejah Shah

Purchase Details

Closed on
Jun 26, 2008
Sold by
Miller Jeffrey Alan
Bought by
Miller Jeffrey Alan and Jeffrey Allan Miller Living Tr

Purchase Details

Closed on
May 15, 2007
Sold by
Theisen James and Theisen Marsha
Bought by
Miller Jeffrey Alan

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,135,200
Interest Rate
6.62%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Jan 3, 2006
Sold by
Christensen Tanya Stromberg
Bought by
Theisen James and Theisen Marsha

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,000,000
Interest Rate
6.87%
Mortgage Type
Fannie Mae Freddie Mac

Purchase Details

Closed on
Dec 26, 2002
Sold by
Christensen Tanya Stromberg and Stromberg Tanya
Bought by
Christensen Tanya Stromberg

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$325,000
Interest Rate
5.86%

Purchase Details

Closed on
Dec 13, 2002
Sold by
Christensen Timothy S
Bought by
Christensen Tanya Stromberg

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$325,000
Interest Rate
5.86%

Purchase Details

Closed on
Mar 20, 1997
Sold by
Stromberg Tanya
Bought by
Stromberg Tanya

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$280,000
Interest Rate
7.63%

Purchase Details

Closed on
May 8, 1996
Sold by
Barron Joanna M
Bought by
Stromberg Tanya

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$272,000
Interest Rate
8.39%

Purchase Details

Closed on
Jun 6, 1994
Sold by
Arreola Richard J
Bought by
Arreola Richard J and Barron Joanna M

Purchase Details

Closed on
Jun 30, 1993
Sold by
Arreola Shirley M
Bought by
Arreola Richard Joseph
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
Venice Palms Multi Llc $2,190,000 Timios Title A Ca Corp
Miller Jeffrey Alan -- None Available
Miller Jeffrey Alan -- None Available
Miller Jeffrey Alan $1,419,000 United Title Company Westlak
Theisen James $1,300,000 Stewart Title Company
Christensen Tanya Stromberg -- --
Christensen Tanya Stromberg -- United
Stromberg Tanya -- First American Title Ins Co
Stromberg Tanya $340,000 Equity Title Company
Arreola Richard J -- --
Arreola Richard Joseph -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Venice Palms Multi Llc $1,423,500
Previous Owner Miller Jeffrey Alan $1,135,200
Previous Owner Theisen James $1,000,000
Previous Owner Christensen Tanya Stromberg $325,000
Previous Owner Stromberg Tanya $280,000
Previous Owner Stromberg Tanya $272,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
09/30/2019 09/30/19 Sold $2,190,000 -2.7% $750 / Sq Ft
08/07/2019 08/07/19 For Sale $2,250,000 0.0% $771 / Sq Ft
12/29/2015 12/29/15 Rented $2,800 0.0% --
12/04/2015 12/04/15 For Rent $2,800 -31.7% --
07/27/2015 07/27/15 Rented $4,100 +2.8% --
07/17/2015 07/17/15 For Rent $3,990 -- --
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 $28,523 $2,395,080 $2,077,925 $317,155
2024 $28,523 $2,348,119 $2,037,182 $310,937
2023 $27,967 $2,302,079 $1,997,238 $304,841
2022 $26,659 $2,256,941 $1,958,077 $298,864
2021 $26,337 $2,212,688 $1,919,684 $293,004
2020 $26,613 $2,190,000 $1,900,000 $290,000
2019 $20,343 $1,704,276 $1,201,043 $503,233
2018 $20,248 $1,670,860 $1,177,494 $493,366
2016 $19,286 $1,605,980 $1,131,771 $474,209
2015 $15,641 $1,300,000 $1,040,000 $260,000
2014 $15,401 $1,250,000 $1,000,000 $250,000
Source: Public Records

Agents Affiliated with this Home

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Map

Source: The MLS

MLS Number: 19-497510

The MLS

APN: 4241-009-016

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