1242 Lago Vista Drive

1242 Lago Vista Drive has been categorized by the local assessors in Beverly Hills, CA as a residential type of property. The building on the property was first built in 1951 and is 73 years old. However, we must point out that the home was most recently renovated and altered in 1967. The home has a total of 17 rooms. 6 of these rooms are legally considered as bedrooms. Residents will have access to 6 full bathrooms. There are 6 partial bathrooms in the home. This is a single story building so stairs are not necessary to access other parts of the home. In addition, 1242 Lago Vista Drive has 5,962 sqft of living area. The living area typically only takes into consideration the heated or air conditioned part of the building. The linear feet between the front and back of the lot is 1,600 ft and across the front of the lot is 1,720 ft. The area measurement of the land has been determined as 28,070 square feet. Fans of architecture and design would be interested in knowing that the building on the property was built in a contemporary style.

Want to learn more? We've sourced additional information from the local assessor's office that we've shared on this page with you. According to our sources, there are a total of 3 available parking spaces. Love to swim? You'll be excited to find out that there is a pool on the property. Moving on to the building itself. The condition of the building has been evaluated as excellent. Along the lines of building condition, did you know that weather changes can cause buildings to move? It may sound alarming, but thats why the type of control joints used in the construction of your home is extremely important. Architects often have to plan these out well in advance to ensure the longevity of the building. Therefore, as part of your consideration, you should note that the home was built with wood control joints. From what we've gathered, the quality of these control joints have been graded with a letter grade of D by the local assessor. The building has a hip style roof made of wood shake/ shingles. The exterior walls of the building are made of stucco. In terms of heating, it is utilizing a central heating system. There is a single fireplace in the home. Perfect for those wintery nights. Finally, the property is currently sourcing its water from a municipal system. We've gathered and summarized the following transaction history in an effort to provide more transparency and up-to-date information for our users. According to our sources, 1242 Lago Vista Drive sold most recently in Jan 11, 2021 for a total of $6,600,000. If you work out the math, that's approximately a cost of $1,107.01 per sqft. Before that, the property was also sold for $8,500,000 in Jun 25, 2014. There could be many factors that caused the property to sell at a lower price and decrease in value. Tax-wise, the current owner is expected to pay close to $50,417 in taxes each year. 1242 Lago Vista Drive was most recently assessed in 2023. During this assessment, the property's total value was estimated to be about $4,100,000. If we break it down further, the land itself was valued at $4,000,000. Improvements to the property, however, were assessed at a total of $100,000. The property's total assessed value has been marked as more than the total market value which is pretty atypical. If possible, try to put down at least 20% towards the down payment during your home purchasing process. While you may be able to buy a home with less than a 20% down payment, your lender may then require you to pay for a private mortgage insurance (PMI). PMI protects the lenders and lowers their financial risk in case the borrower defaults. Generally, you'll need to pay more PMI when your total loan amount is higher. However, certain factor such as your credit score, loan type, loan term, and loan-to-value ratio can all impact your PMI as well.Sadly, this property is not available for sale but we are constantly updating our inventory in real time. Sign up for a RealtyHop account and add this property to your favorites to get updates on when this property is back on the market. Or alternatively, you can check back frequently for updates.