9.48% Proforma CAP Rate in an excellent area with 25% vacancy! 4121 Marmion Way, a prime 16-unit Value-Add apartment in the desirable Mount Washington neighborhood of Los Angeles. This well-maintained property is located right off Figueroa St and at the border of Highland Park and South Pasadena. It is surrounded by mature residential neighborhoods and within walking distance of many attractions in Mount Washington area (Lumis House, Southwest Museum, and Metro Gold Line Heritage Square Station). This property is in a mature area and surrounded by single family homes. It has an excellent demographics with ±$122,496 average household income within a-mile radius The property is a two-story garden style apartment. It offers excellent curb appeal and is very well maintained with a serene center courtyard. It was built in 1965, has a total of ±11,984sqft building size, and situated on a large ±17,441SF lot. The property has a new roof that was installed in 2021 and several front windows have been upgraded with dual pane windows. The foundation has been bolted and seismic retrofit of the property was completed in 2015. It offers an excellent unit mix of eight (8) large 2bedroom+1bathroom, and eight (8) large 1bedroom+1bathroom units. Four units are currently vacant and can be delivered vacant at close of escrow. The 2-bedroom units are large with excellent layout (estimated size are ±925-1000SF – buyer to verify), and the 1-bedroom units are spacious with functional layout (est. size ±700-800SF – buyer to verify). Each unit has a large living room, wall heater, windows A/C, and a full kitchen. The front facing units (4 units) have updated double pane windows. None of the units have been updated, which presents unique opportunities for new owners to do their value-add work and increase the rents significantly. The current rental income is significantly below market (est. about ±59%). Each unit is individually metered for electricity and gas. The units are large and bright which makes them very attractive and easy to rent. There are 16 open parking spaces in the back (no soft story retrofit is required) with alley access to the parking lot. The property is serviced by a master water heater, and a shared laundry room (seller own machines). The property is located right off Figueroa St; in the Mount Washington neighborhood, and at the border of Highland Park and South Pasadena, providing an unparalleled access to superb amenities on Figueroa St.
Property Details
Property Features
Property Information:
Year Built: 1965
Stories: 2
Listing Office:
Office Name: Growth Investment Group Pasade
Office Phone: (626) 224-2495
Listing Agent: Han Chen
Interior Features
Interior Information:
Appliances: Disposal, Gas Range, Refrigerator, Dryer, Washer
Flooring Type: Laminate, Vinyl, Wood
Fireplace: None
Exterior Features
Exterior Information:
Private Pool: No
View: None
Parking Information:
Parking: Assigned, Driveway, Paved
Lot Features
Lot Information:
Lot: Irregular Lot, Near Public Transit
Lot Size: 0.40 Acres
Utilities
Utilities Information:
Heating: Wall Furnace
Cooling: Wall/Window Unit(s)
Other
Directions Information:
Directions: east of Mt. Washington Dr, and north side of Marmion Way, exit Ave 43 from FWY 110
Price Information
Listing Price Info
Price Summary:
List Price: $3,850,000
Tax Information:
Annual Amount: $26,794
Tax Year: 2021
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Housing Market Comparison
See how this home compares to others in Los Angeles, CA.
This property is $2.8M more than the Median Sold Price in Los Angeles, CA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: CRMLS
MLS Number: #AR24123998
Listing Office:
Office Name: Growth Investment Group Pasade
Office Phone: (626) 224-2495
Listing Agent: Han Chen
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. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last updated on: 11/17/2024, 11:20:51 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
Listing History
DATE
EVENT
PRICE
Sep 29, 2010
Sep 29, 2010Home Sold
$1,748,000
Mar 28, 2005
Mar 28, 2005Home Sold
$1,725,010
Nov 05, 2002
Nov 05, 2002Home Sold
$725,000
Tax History
YEAR
PROP. TAX
ASSESSMENT
2021
$26,794
$2,072,145
2020
$26,016
$2,047,731
2019
$25,672
$2,007,580
2018
$25,089
$1,968,216
2017
$25,089
$1,929,625
History based on county public records data.
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
We're sorry, we currently don't have assigned school data for this listing.
Nearby Schools
6
/10
Latona Elementary School
4312 Berenice Ave
Distance between this listing and this school0.53 miles
Public District Grades PK-6
5
/10
Loreto Street Elementary
3408 Arroyo Seco Ave
Distance between this listing and this school0.59 miles
Public District Grades KG-5
5
/10
Hillside Elementary
120 E Avenue 35
Distance between this listing and this school0.63 miles
Public District Grades KG-5
Nearby Schools
5
/10
Florence Nightingale Middle School
3311 N Figueroa St
Distance between this listing and this school0.65 miles
Public District Grades 6-8
6
/10
Arroyo Seco Museum Science
4805 Sycamore Ter
Distance between this listing and this school0.68 miles
Public District Grades KG-8
6
/10
Glen Alta Span School
3410 Sierra St
Distance between this listing and this school0.92 miles
Public District Grades KG-8
Nearby Schools
4
/10
Los Angeles Leadership Academy
234 E Avenue 33
Distance between this listing and this school0.76 miles
Public Charter Grades 6-12
1
/10
Academia Avance Charter
115 N Avenue 53
Distance between this listing and this school1.21 miles
Public Charter Grades 6-12
2
/10
Pueblo de los Angeles Continuation
2506 Alta St
Distance between this listing and this school1.33 miles
The neighbors living near this home have an average income of $39,082. The most common annual income of people living in Los Angeles, CA is less than $35k. Residents typically live in single, no kids family. The majority of residents in this area have high school diploma education.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 4121 Marmion Way
What is the listing price of this property?
The listing price of 4121 Marmion Way property is $3,850,000.
What type of property is this?
The property 4121 Marmion Way is a condo located in Los Angeles, California, 90065.
Is this property for sale now?
Active Listing: 4121 Marmion Way is For Sale (Active/New) which means the seller is accepting offers.
What is the annual property tax for this property?
According to the records, the last property tax for 2021 is $26,794 (source: MLS/based on county public records data).
When was this property sold last time and for how much?
The last sale was on September 29, 2010 for $1,748,000. (source: MLS/tax record).
Which year was this property built?
The year of construction for 4121 Marmion Way is 1965.
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This home is located at 4121 Marmion Way in Los Angeles, CA and zip code 90065 in the Northeast LA neighborhood. This home, which was built in 1965, sits on a 0.40 acre lot. It has been listed on Rocket Homes since June 18, 2024 and is currently priced at $3,850,000.
Over 598 listings were sold over their listed price in October 2024 in Los Angeles, CA. In the same period over 753 listings were sold below the listed price and 191 listings were sold for the listed price. The number of homes for sale in Los Angeles, CA increased by 11.2% between September 2024 and October 2024. Listings spent 38 days on the market in October 2024, and had a median list price of $1,023,474 during the same period.
From Rocket Homes Real Estate and based on county public records data.
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. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. 
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