7040 FLIGHT AVE.
Los Angeles, CA 90045 · APN 4103-008-009
UNITS
9
BUILDING SF
10,000
SF / UNIT
1,111
YEAR BUILT
1992
BEDROOMS
19
BATHROOMS
27
USE · CODE 0500
5+ UNITS
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PROP 13 ASSESSED VALUES, USUALLY WELL BELOW MARKET ON LONG-HELD BUILDINGS.
PRICE ESTIMATED FROM ASSESSOR REASSESSMENT AT SALE, NOT A VERIFIED CLOSING PRICE.
LIKELY UNDER AB 1482 STATE CAP
Built 1992, inside the City of Los Angeles. Construction after 1 October 1978 is outside the RSO, so the statewide cap applies instead: 5% plus regional CPI, never more than 10% in a year.
Recent sales nearby.
PRICES ESTIMATED FROM ASSESSOR REASSESSMENT AT SALE (ASSESSED VALUE DEFLATED 2%/YR), NOT VERIFIED CLOSING PRICES.
Buildings like this one.
ON FLIGHT AVE · ZIP 90045
SIMILAR SIZE AND ERA IN 90045
The short answers.
Is 7040 Flight Ave rent controlled?
Built 1992, inside the City of Los Angeles. Construction after 1 October 1978 is outside the RSO, so the statewide cap applies instead: 5% plus regional CPI, never more than 10% in a 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.
How many units does 7040 Flight Ave have?
County records list 9 units at 7040 Flight Ave, classified as 5+ units across 10,000 square feet of building area, averaging about 1,111 square feet per unit. Unit counts on the roll can lag permitted conversions and unpermitted additions in both directions.
When was 7040 Flight Ave built?
The assessor roll gives a build year of 1992, which is after the 1 October 1978 RSO cutoff. The ordinance turns on the certificate of occupancy rather than the roll's build year, so a building finished either side of that date is worth confirming with LAHD. Age drives more than character here. It sets rent-cap exposure, seismic retrofit obligations, and what a lender will underwrite.
When did 7040 Flight Ave last sell, and for how much?
The last recorded transfer was July 2022, at an estimated $5,498,999, about $611,000 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.
What is 7040 Flight Ave assessed at, and is that what it is worth?
The current assessed value is $5,721,159 ($4,005,540 land, $1,715,619 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.
How do I find out what 7040 Flight Ave 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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