NOT LISTED FOR SALE

960 Menlo Ave Los Angeles, CA 90006

Koreatown Neighborhood

Estimated Value: $2,538,000 - $3,463,000

16 Beds
10 Baths
5,424 Sq Ft
$564/Sq Ft Est. Value

Last Sold July 19, 2019

Last sale price $2,350,000 $433 Per Sq Ft

Est. 30% increase in value since last sale

Current estimated payment $17,757/month

43 Days on Market

Highlights

  • Laundry Room
  • 4 Attached Carport Spaces
  • Turnkey
  • UCLA Community School Rated A-

About This Home

As of July 2019

Best Koreatown location close to DTLA! Development Opportunity in one of the most Densely Populated areas of Koreatown, Take advantage of TOC Tier 3 Density bonus. This property is entitled for a 22-unit, 7-story new construction complex with a mechanical parking basement. Rents for new apartments are going from $1,500~$3,000 per/unit in the area. Huge Income Producing Opportunity, R4-1 Zoning, Many Commercial Amenities, Metro Stations are walking distance or short Bike Ride. Area is experiencing Mass Gentrification, hundreds of New Apartment and condo projects are currently under construction. Currently the Lot has a Four Units which includes a 10 bedrooms 6 bathrooms SFR that currently operates as a boarding house. Please see K-Town Hotel on same street for similar posibilities.

Last Agent to Sell the Property

Jaime Garcia

Century 21 Allstars License #01233300 Listed on: 05/14/2019

Century 21 Allstars

Last Buyer's Agent

Judy Jung Lee

Keller Williams Larchmont License #02015973

Keller Williams Larchmont

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $14,556

Year Built

  • Built in 1913

Lot Details

  • 9,651 Sq Ft Lot
  • No Common Walls
  • Value in Land

Home Design

  • Turnkey

Interior Spaces

  • 5,424 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 16 Bedrooms
  • 10 Bathrooms

Parking

  • 10 Open Parking Spaces
  • 14 Parking Spaces
  • 4 Attached Carport Spaces
  • Parking Available
  • Assigned Parking

Location

  • Urban Location

Listing and Financial Details

  • Tax Lot 021
  • Tax Tract Number 213401
  • Assessor Parcel Number 5076002021

Community Details

Overview

  • 2 Buildings
  • 4 Units

Amenities

  • Laundry Facilities

Building Details

  • 4 Leased Units
  • Rent Control
  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 4 Separate Water Meters
  • Electric Expense $3,600
  • Insurance Expense $1,800
  • Water Sewer Expense $18,000
  • Operating Expense $23,400
  • Gross Income $131,880
  • Net Operating Income $108,480

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$14,556

Year Built

Built in 1913

Lot Details

0

Listing Details

  • Property Attached: No
  • Water Sewer Expenses: 18000.00
  • Zoning: LAR4
  • Property Condition: Turnkey
  • Property Type: Residential Income
  • Parcel Number: 5076002021
  • Year Built: 1913
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 2
  • Common Walls: No Common Walls
  • Levels: Two
  • Price Per Square Foot: 433.26

Exterior Features

  • Pool Private: No

Garage/Parking

  • Carport Spaces: 4.00
  • Parking: Yes
  • Parking Features: Assigned, Carport, Attached Carport
  • Total Parking Spaces: 14.00
  • Uncovered Spaces: 10.00

Utilities

  • Laundry: Yes
  • Laundry Features: Common Area
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Urban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Value In Land
  • Lot Size Sq Ft: 9651.00
  • Lot Size Acres: 0.2216

Multi Family

  • Electric Expense: 3600.00
  • Gross Income: 131880.00
  • Gross Scheduled Income: 131880.00
  • Insurance Expense: 1800.00
  • Lot Size Area: 9651.0000 Square Feet
  • Net Operating Income: 108480.00
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 4
  • Number Of Units Leased: 4
  • Number Of Units Total: 4
  • Operating Expense: 23400.00
  • Rent Control: Yes
  • Total Actual Rent: 10990.00
  • Total Expenses: 23400.00

Tax Info

  • Tax Census Tract: 2134.01
  • Tax Lot: 021
  • Tax Tract Number: 213401

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Nov 15, 2021
Sold by
Baek Kyong Ae
Bought by
1040 Dewey Llc
Current Estimated Value
$3,059,996

Purchase Details

Closed on
Dec 12, 2019
Sold by
1040 Dewey Llc
Bought by
Baek Kyong Ae

Purchase Details

Listed on
May 14, 2019
Closed on
Jun 26, 2019
Sold by
Cuevas Jose E and Cuevas Maria L
Bought by
1040 Dewey Llc
Seller's Agent
Jaime Garcia
Century 21 Allstars
Buyer's Agent
Judy Jung Lee
Keller Williams Larchmont
List Price
$3,500,000
Sold Price
$2,350,000
Premium/Discount to List
-$1,150,000
-32.86%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
4.39%
Original Mortgage
$100,000
Interest Rate
3.9%
Mortgage Type
Commercial

Purchase Details

Closed on
Mar 23, 2018
Sold by
Cuevas Jose E and Cuevas Maria L
Bought by
Cuevas Jose E and Cuevas Maria L

Purchase Details

Closed on
May 2, 2002
Sold by
Reyes Miguel A and Reyes Maria S
Bought by
Cuevas Jose E and Cuevas Maria L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$172,500
Interest Rate
7.18%

Purchase Details

Closed on
Jan 27, 1997
Sold by
Irene Wirth Trust and Joseph
Bought by
Cuevas Jose E and Cuevas Maria L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$175,500
Interest Rate
7.86%
Source: Public Records

Range of Values:

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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
1040 Dewey Llc -- Accommodation
Baek Kyong Ae -- Provident Title Company
Baek Kyong Ae -- Provident Title Company
1040 Dewey Llc $2,350,000 Stewart Title
Cuevas Jose E -- None Available
Cuevas Jose E -- Stewart Title
Cuevas Jose E $195,000 Investors Title Company
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Baek Kyong Ae $1,000,000
Previous Owner Cuevas Jose E $100,000
Previous Owner Cuevas Jose E $443,970
Previous Owner Cuevas Jose E $150,000
Previous Owner Cuevas Jose E $500,000
Previous Owner Cuevas Jose E $80,000
Previous Owner Cuevas Jose E $50,000
Previous Owner Cuevas Jose E $172,500
Previous Owner Cuevas Jose E $17,897
Previous Owner Cuevas Jose E $175,500
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/19/2019 07/19/19 Sold $2,350,000 -32.9% $433 / Sq Ft
06/26/2019 06/26/19 Pending -- -- --
05/14/2019 05/14/19 For Sale $3,500,000 -- $645 / 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 $14,556 $1,167,328 $583,664 $583,664
2024 $14,556 $1,144,440 $572,220 $572,220
2023 $14,288 $1,122,000 $561,000 $561,000
2022 $27,671 $2,303,316 $1,751,964 $551,352
2021 $27,319 $2,258,154 $1,717,612 $540,542
2020 $28,978 $2,350,000 $1,765,000 $585,000
2019 $18,765 $613,001 $249,724 $363,277
2018 $7,704 $600,982 $244,828 $356,154
2016 $7,331 $577,647 $235,322 $342,325
2015 $7,228 $568,971 $231,788 $337,183
2014 $7,271 $557,827 $227,248 $330,579
Source: Public Records

Agents Affiliated with this Home

  • Jaime Garcia

    Seller's Agent in 2019

    Jaime Garcia

    Century 21 Allstars

    (562) 440-9511

    44 Total Sales

    Jaime Garcia
    Section Image

  • J

    Buyer's Agent in 2019

    Judy Jung Lee

    Keller Williams Larchmont

    (213) 505-2404

    3 in this area

    7 Total Sales

    Judy Jung Lee
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: DW19112009

California Regional Multiple Listing Service (CRMLS)

APN: 5076-002-021

California Los Angeles County Los Angeles 90006 Koreatown

960 Menlo Ave, Los Angeles, CA

This home is located at 960 Menlo Ave, Los Angeles, CA 90006 since 14 May 2019 and is currently estimated at $3,059,996, approximately $564 per square foot. This property was built in 1913. 960 Menlo Ave is a home located in Los Angeles County with nearby schools including Hoover Street Elementary School, UCLA Community School, and Berendo Middle.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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