Los Angeles, CA 91604 · APN 2368-003-030
UNITS
19
BUILDING SF
18,392
SF / UNIT
968
YEAR BUILT
1987
BEDROOMS
32
BATHROOMS
32
USE · CODE 0501
5+ UNITS
PROP 13 ASSESSED VALUES — USUALLY WELL BELOW MARKET ON LONG-HELD BUILDINGS.
No market sale detected on this parcel since 2021. The last recorded transfer may have been a refinance, trust move, or family transfer that didn't reset the Prop 13 base.
Outside LA RSO coverage on these records — most California multifamily over 15 years old falls under the AB 1482 statewide cap of 5% plus CPI, never more than 10% per year.
PRICES ESTIMATED FROM ASSESSOR REASSESSMENT AT SALE (ASSESSED VALUE DEFLATED 2%/YR) — NOT VERIFIED CLOSING PRICES.
Outside LA RSO coverage on these records — most California multifamily over 15 years old falls under the AB 1482 statewide cap of 5% plus CPI, never more than 10% per year. This is an inference from public assessor records, not a determination — confirm the certificate of occupancy date with the LA Housing Department or ZIMAS before you rely on it for pricing or notices.
County records list 19 units at 12059 Hoffman St, classified as 5+ units across 18,392 square feet of building area, averaging about 968 square feet per unit. Unit counts on the roll can lag permitted conversions and unpermitted additions in both directions.
The assessor roll gives a build year of 1987, which is after the October 1978 RSO cutoff. Age drives more than character here: it sets rent-cap exposure, seismic retrofit obligations, and what a lender will underwrite.
The most recent transfer on the roll was recorded March 2003. Not every recorded transfer is a market sale — refinances, trust transfers, and family conveyances all appear in the same field, and those do not reset the assessed value.
The current assessed value is $4,013,323 ($1,262,608 land, $2,750,715 improvements). Assessed value is not market value. Under Proposition 13 it resets only on a change of ownership and then climbs about 2% a year, so a long-held building is often assessed far below what it would trade for — and this one has held its base year for roughly 35 years.
Possibly. A base year going back roughly 35 years usually means a low tax basis, and a low basis means a large taxable gain on a straight sale — capital gains plus depreciation recapture, with California taxing gains at ordinary income rates. It is also why long-held buildings so often sell through a 1031 exchange instead, or pass through an estate for the step-up in basis.
Public records give you the frame — units, size, age, assessed value, when it last traded — but pricing needs in-place rents, expenses, and the condition of the units, none of which appear in county data. A broker valuation puts closed comps and a rent survey against the actual rent roll. Shaya Lowenstein does that free for LA multifamily owners, typically within 48 hours, with no obligation to list.
Own this building?
FREE, CONFIDENTIAL VALUATION FROM CLOSED COMPS — 48H TURNAROUND.
NOT SELLING? GET DEALS LIKE THIS FIRST →