NOT LISTED FOR SALE

956 Elden Ave Los Angeles, CA 90006

Westlake Neighborhood
20 Beds
20 Baths
13,924 Sq Ft
10,319 Sq Ft Lot

Last Sold July 16, 2021

Last sale price $3,640,000 $261 Per Sq Ft

60 Days on Market

About This Home

As of July 2021

Opportunity to acquire a 14-unit apartment building located in prime Koreatown, one of the most highly sought after submarkets of Los Angeles. The Property is a well-maintained structure with steady cash flow and significant upside potential. The Property has recently undergone some interior and exterior renovations and features a strong unit mix of spacious units - 8 (1+1)s and 6 (2+2)s. 5 out of the 15 units have been extensively renovated, and one large, unrenovated 1+1 unit will be delivered vacant, allowing an investor to immediately upgrade the unit and capture market rent. Renovated units feature high-end finishes including new stainless steel appliances, stone countertops, laminate and tile flooring, new fixtures, beautifully designed bathrooms, new paint, heat and A/C units among other improvements. Also, renovated units have undergone both electrical and plumbing upgrades. Exterior and building upgrades include new exterior paint, security gate, call box, camera systems and water heater. The property is separately metered for electricity and gas, has an on-site laundry room, and 19 parking spaces. Tenants are surrounded by countless amenities including restaurants, bars, shopping, entertainment venues, and local transportation. 956 Elden is a rare opportunity to acquire a well-maintained asset with significant upside potential.

Last Agent to Sell the Property

Janet Neman

Kidder Mathews of California, Inc. License #01069127 Listed on: 03/04/2021

Last Buyer's Agent

Janet Neman

Kidder Mathews of California, Inc. License #01069127 Listed on: 03/04/2021

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1963

Lot Details

  • 10,319 Sq Ft Lot
  • Lot Dimensions are 72x142

Interior Spaces

  • 13,924 Sq Ft Home
  • 3-Story Property
  • Leased Washer and Dryer

Kitchen

  • Dishwasher
  • Disposal

Bedrooms and Bathrooms

  • 20 Bedrooms
  • 20 Bathrooms

Parking

  • 19 Parking Spaces
  • Gated Parking

Utilities

  • Window Unit Cooling System
  • Heating System Mounted To A Wall or Window

Community Details

  • 14 Units
  • Laundry Facilities

Listing and Financial Details

  • The owner pays for water
  • Assessor Parcel Number 5076-004-018

Property Details

Home Type

Multi-Family

Year Built

Built in 1963

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 13924
  • Lot Acreage: 0.2369
  • Lot Dimensions: 72x142
  • Stories: 3
  • Year Built: 1963
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 20
  • Laundry: Community
  • Laundry Equipment: Lease
  • Total Bathrooms: 20.00
  • Equipment: Refrigerator, Garbage Disposal, Dishwasher
  • Price Per S Q F T: 280.09

Exterior Features

  • Other Structures: None

Garage/Parking

  • Parking Garage: Gated
  • Total Parking: 19

Utilities

  • Cooling: Window Unit(s)
  • Heating: Wall

Lot Info

  • Assessed Improvement Percent: 47.62
  • Assessed Improvement Value: 1035555
  • Assessed Land Percent: 52.38
  • Assessed Land Value: 1139110
  • Total Assessed Value: 2174665
  • Assessor Parcel Number: 5076-004-018
  • Lot Size Area: 10319

Rental Info

  • Owner Pays: Water

Multi Family

  • Unit Type: 2106, 2107
  • Gross Rent Multiplier: 14.55
  • Number Of Units: 14
  • Type Of Units: Multifamily

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

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
07/16/2021 07/16/21 Sold $3,640,000 -6.7% $261 / Sq Ft
05/03/2021 05/03/21 Pending -- -- --
04/06/2021 04/06/21 Price Changed $3,900,000 -6.4% $280 / Sq Ft
03/04/2021 03/04/21 For Sale $4,165,000 +25.5% $299 / Sq Ft
10/05/2018 10/05/18 Sold $3,320,000 -2.1% $238 / Sq Ft View Prior Sale
06/18/2018 06/18/18 Price Changed $3,390,000 -2.2% $243 / Sq Ft
06/04/2018 06/04/18 For Sale $3,465,000 +77.7% $249 / Sq Ft
08/24/2012 08/24/12 Sold $1,950,000 -2.5% $140 / Sq Ft View Prior Sale
07/31/2012 07/31/12 Pending -- -- --
07/19/2012 07/19/12 For Sale $1,999,000 -- $144 / 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 $48,001 $3,862,796 $2,907,709 $955,087
2024 $47,379 $3,787,056 $2,850,696 $936,360
2023 $46,481 $3,712,800 $2,794,800 $918,000
2022 $44,360 $3,640,000 $2,740,000 $900,000
2021 $42,037 $3,421,483 $2,576,418 $845,065
2020 $42,454 $3,386,400 $2,550,000 $836,400
2019 $40,800 $3,320,000 $2,500,000 $820,000
2018 $28,138 $2,218,158 $1,161,892 $1,056,266
2017 $27,507 $2,174,665 $1,139,110 $1,035,555
2016 $26,765 $2,132,025 $1,116,775 $1,015,250
2015 $26,387 $2,100,000 $1,100,000 $1,000,000
2014 $25,331 $1,958,853 $954,313 $1,004,540
Source: Public Records

Agents Affiliated with this Home

  • J

    Seller's Agent in 2021

    Janet Neman

    Kidder Mathews of California, Inc.

    (310) 926-5181

    2 in this area

    16 Total Sales

    Janet Neman
    Section Image
  • Aekyung Lee

    Seller's Agent in 2018

    Aekyung Lee

    Onewest Properties

    (213) 500-8090

    2 in this area

    12 Total Sales

    Aekyung Lee
    Section Image
  • Audrey Jung

    Seller's Agent in 2012

    Audrey Jung

    B & B Investment Properties

    (626) 230-1218

    2 in this area

    26 Total Sales

    Audrey Jung
    Section Image

  • E

    Buyer's Agent in 2012

    Edward Tarrant

    Tarrant, P.J., Realty

See All Agents

Map

Source: The MLS

MLS Number: 21-700734

The MLS
California Los Angeles County Los Angeles 90006 Westlake

956 Elden Ave, Los Angeles, CA

Not Listed for Sale

MultiFamily

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