Los Angeles, CA 90023 · APN 5242-011-010
UNITS
2
BUILDING SF
1,905
SF / UNIT
953
YEAR BUILT
1937
BEDROOMS
4
BATHROOMS
2
USE · CODE 0200
DUPLEX
PROP 13 ASSESSED VALUES — USUALLY WELL BELOW MARKET ON LONG-HELD BUILDINGS.
PRICE ESTIMATED FROM ASSESSOR REASSESSMENT AT SALE — NOT A VERIFIED CLOSING PRICE.
Built 1937 in the City of Los Angeles with 2 units — pre-October 1978 multifamily inside city limits is generally under the Rent Stabilization Ordinance, capping annual increases and restricting evictions.
PRICES ESTIMATED FROM ASSESSOR REASSESSMENT AT SALE (ASSESSED VALUE DEFLATED 2%/YR) — NOT VERIFIED CLOSING PRICES.
Built 1937 in the City of Los Angeles with 2 units — pre-October 1978 multifamily inside city limits is generally under the Rent Stabilization Ordinance, capping annual increases and restricting evictions. 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 2 units at 1240 S Hicks Ave, classified as duplex across 1,905 square feet of building area, averaging about 953 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 1937, which puts it in the pre-1979 stock that the LA Rent Stabilization Ordinance generally covers inside city limits. Age drives more than character here: it sets rent-cap exposure, seismic retrofit obligations, and what a lender will underwrite.
The last recorded transfer was October 2021, at an estimated $486,340 — about $243,170 per unit. That price is estimated from the Proposition 13 reassessment recorded at sale, not a verified closing price, so treat it as a close approximation rather than a confirmed figure.
The current assessed value is $526,430 ($318,044 land, $208,386 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.
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.
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