122 E 120TH ST.
Los Angeles, CA 90061 · APN 6086-001-022
UNITS
16
BUILDING SF
17,369
SF / UNIT
1,086
YEAR BUILT
-
BEDROOMS
38
BATHROOMS
32
USE · CODE 0500
5+ UNITS
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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 STATUS NOT DETERMINED
These records carry no year built for this parcel, and coverage turns on exactly those facts: the Rent Stabilization Ordinance reaches City of Los Angeles buildings of two or more units with a certificate of occupancy issued on or before 1 October 1978. Rather than guess, confirm the address with LAHD.
Recent sales nearby.
PRICES ESTIMATED FROM ASSESSOR REASSESSMENT AT SALE (ASSESSED VALUE DEFLATED 2%/YR), NOT VERIFIED CLOSING PRICES.
Buildings like this one.
ON E 120TH ST · ZIP 90061
SIMILAR SIZE AND ERA IN 90061
The short answers.
Is 122 E 120th St rent controlled?
These records carry no year built for this parcel, and coverage turns on exactly those facts: the Rent Stabilization Ordinance reaches City of Los Angeles buildings of two or more units with a certificate of occupancy issued on or before 1 October 1978. Rather than guess, confirm the address with LAHD. Confirm the address with the LA Housing Department or in ZIMAS before you rely on any assumption for pricing or notices.
How many units does 122 E 120th St have?
County records list 16 units at 122 E 120th St, classified as 5+ units across 17,369 square feet of building area, averaging about 1,086 square feet per unit. Unit counts on the roll can lag permitted conversions and unpermitted additions in both directions.
When did 122 E 120th St last change hands?
The most recent transfer on the roll was recorded January 1992. 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.
What is 122 E 120th St assessed at, and is that what it is worth?
The current assessed value is $1,970,496 ($430,500 land, $1,539,996 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 36 years.
Would the owner of 122 E 120th St face a big tax bill on a sale?
Possibly. A base year going back roughly 36 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.
How do I find out what 122 E 120th St would sell for today?
Public records give you the frame, units, size, age, assessed value, and 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.
Leave an email and I'll come back with what it is worth and whether the owner is likely to trade. It does not have to be for sale, and it does not have to be my listing.
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