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1475 Westerly Terrace

1475 Westerly Terrace, Los Angeles, CA 90026
Property in Silver Lake
Sold Jun 25, 2021
$1,240,000
$820,000 by Pennymac Loan Services Llc
Mortgage Due Jul 01, 2051
1475 Westerly Terrace has been categorized by the local assessors in Los Angeles, CA as a residential type of property. The building on the property was first built in 1922 and is 102 years old. The home has a total of 4 bedrooms. Residents will have access to 2 full bathrooms. There are 2 partial bathrooms in the home. In addition, 1475 Westerly Terrace has 2,026 sqft of living area. The living area typically only takes into consideration the heated or air conditioned part of the building. The area measurement of the land has been determined as 4,600 square feet. Fans of architecture and design would be interested in knowing that the building on the property was built in a duplex 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. 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. In terms of heating, it is utilizing floor/wall heating system. Here at RealtyHop, we've focused a lot of our efforts into gathering up-to-date and accurate data for our users. Based on our sources, 1475 Westerly Terrace was last sold in May 4, 2021 for $1,240,000. According to our calculations, that's $612.04 per sqft. Current property owners are expected to pay $14,683 in taxes per year. The property on 1475 Westerly Terrace was last assessed in 2023. As a result of that assessment, the total value of the property was placed at $1,269,288. To break that down further, the land itself was valued at $957,168. While improvements to the property were assessed at a total of $312,120. Based on our records, the total assessed value for this property has been marked as more than the total market value as of this moment. Which is pretty atypical. Speaking of costs, many buyers and sellers often forget to take into consideration the closing costs they may occur. Closing costs can stem from anything mortgage or property related to fees related to your property title. As you'll soon learn from our guide, fees can quickly add up hence why as a rule of thumb, we typically recommend setting aside at least 5% of the purchase price to cover potential closing costs. Don't worry, any additional you save up can always go towards your principal. Better safe than sorry!This property is not listed for sale at this point in time but RealtyHop is constantly updating our inventory of available sales listings in real time. Don't want to miss out on this property? You can save the listing to your favorites by signing up for a RealtyHop account or you can check back frequently for updates.

This property description is generated based on publicly available data.

Building Info

Overview

    General

  • Year Built: 1922
  • Effective Year Built: 1922
  • Building Count: 2
  • Bedroom Count: 4
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Building Quality: D
  • Construction Type: Wood
  • Building Style: Duplex
  • Living Units: 2
  • Basement Area: 0
  • Parking Space Count: 0

    Dimensions

  • Lot Size Square Feet: 4,600
  • Total Building Area: 2,026
  • Gross Building Area: 1,906
  • Building Area: 2,026
  • Building Area Measurement: Living Area

    Heating and Cooling

  • Air Conditioning: unknown
  • Heating: Floor/wall
  • Heated Square Feet: 2,026
  • Heating Fuel Type: unknown

    Utilities

  • Sewer System: unknown
  • Water Service: unknown

Building

  • Property Class: Residential
  • Subdivision: MINNEHAHA TRACT
  • Land Acres: 0.106
  • Standard Land Use Code: Duplex (2 units, any combination)
  • Legal Description 1: MINNEHAHA TRACT LOT/SEC 72

Ownership

  • Current Owner : LEE JASON J
  • Previous Owner : NIEVES VERONICA
  • Is Owner Occupied: Owner-occupied property

Neighborhood

  • School District Name: Los Angeles Unified School District
  • Census Tract: 195400

Zoning

  • Zoning: LAR2

Geography

  • Assessors Map Reference: 35-B5
  • Parcel: 5425-009-008
  • Lot: 72
  • Municipality: EAST /LA LOS FELIZ
  • Latitude: 34.0867
  • Longitude: -118.272

    Address

  • Full Address: 1475 Westerly Ter
  • Address - House Number: 1475
  • Address - Street Name: Westerly
  • Address - Suffix Type: Ter
  • State: CA
  • City Name: Los Angeles
  • Carrier Code: C049
  • 4-Digit Zip Code: 1651
  • Zip Code: 90026

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $14,683
  • Tax Rate Code Area: 00-013

    Appraisal Valuation

  • Standard Deviation: 0.236
  • Valuation Date: Aug 04, 2023
  • Confidence Score: 67
  • Final Value: 1,395,821
  • High Value: 1,725,279
  • Low Value: 1,066,363

    Open Liens

  • Total Open Liens: 2
  • Total Open Liens Amount: $968,575
  • First Open Lien Mortgage Lender: PENNYMAC LOAN SERVICES LLC
  • First Open Lien Mortgage Recording Date: Jun 25, 2021
  • First Open Lien Mortgage Loan Amount: $820,000
  • First Open Lien Mortgage Term: 360
  • First Open Lien Mortgage Position: 1
  • First Open Lien Mortgage Loan Type: New Conventional
  • First Open Lien Mortgage Loan Due Date: Jul 01, 2051
  • Second Open Lien Mortgage Lender: LOGIX FEDERAL CREDIT UNION
  • Second Open Lien Mortgage Recording Date: Feb 28, 2022
  • Second Open Lien Mortgage Loan Amount: $148,575
  • Second Open Lien Mortgage Term: 180
  • Second Open Lien Mortgage Position: 2
  • Second Open Lien Mortgage Loan Type: Credit Line (Revolving)
  • Second Open Lien Mortgage Loan Due Date: Feb 25, 2037

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $1,269,288
  • Assessed Land Value: $957,168
  • Assessed Improvements Value: $312,120

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: May 04, 2021
  • Current Sale Recording Date: Jun 25, 2021
  • Current Sale Transaction ID: 11840932632
  • Current Sale Price: $1,240,000
  • Current Sale Document Type: Grant Deed
  • Current Sale Input Document Number: 21-1002091

    Last Sale Mortgage

  • First Mortgage Lender: PENNYMAC LOAN SERVICES LLC
  • First Mortgage Transaction Date: Jun 25, 2021
  • First Mortgage Loan Amount: $820,000
  • First Mortgage Terms: 360
  • First Mortgage Loan Type: New Conventional
  • First Mortgage Loan Due Date: Jul 01, 2051

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Frequently Asked Questions

What neighborhood is 1475 Westerly Terrace located in?
The 1475 Westerly Terrace is a located in the neighborhood of Silver Lake in East LA, Los Angeles.
What is the average sales price for listings in 1475 Westerly Terrace?
The average sales price for units in 1475 Westerly Terrace is $0 currently.

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