West Hollywood, CA 90046 · APN 5554-006-008
UNITS
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BUILDING SF
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SF / UNIT
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YEAR BUILT
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BEDROOMS
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BATHROOMS
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USE · CODE 030V
LAND
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.
Rent-control rules apply to occupied residential units, not raw land. What matters here is zoning, density programs like TOC and ED1, and what the dirt can carry.
PRICES ESTIMATED FROM ASSESSOR REASSESSMENT AT SALE (ASSESSED VALUE DEFLATED 2%/YR) — NOT VERIFIED CLOSING PRICES.
The most recent transfer on the roll was recorded August 1998. 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 $2,194,810 ($2,194,810 land). 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 27 years.
Possibly. A base year going back roughly 27 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.
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FREE, CONFIDENTIAL VALUATION FROM CLOSED COMPS — 48H TURNAROUND.
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