← Off-Market Pipeline
11950 N Las Palmas Ave
APN: 5550-091-026 Hollywood / Franklin Village 17 units Built 1972 Untouched
68
Signal Score
Score Breakdown — Show Your Work 10 signals · 0–100 scale
Long hold
36.1 years
Prop 13 locks assessed value near purchase price; longer hold = larger gap to market
📂 LA County Assessor — Deed transfer records (last_sale_date field)
years_held
+25
Prop 13 equity gap
Assessed $2.19M vs ~$4.7M est. market (47% of comp)
At 47% of submarket comp, locked equity creates sell/refi pressure
📂 LA County Assessor 2024 roll — annual assessed value (data.lacounty.gov)
assessed_total, units
+13
Owner entity: trust
Watanabe Living Trust
Trust ownership signals estate/succession planning; trustee sales common
📂 LA County Assessor — owner-of-record (assessment roll)
owner_type, owner_name
+15
Intra-family transfer
Intra-family transfer
Succession or estate event; heirs often prefer cash over landlord operations
📂 LA County Recorder — deed transfer records (rrcc.lacounty.gov)
last_transfer_type
+15
Final Score (0–100 cap) 68
Ownership LA County Assessor — owner of record
Current Owner
Watanabe Living Trust
Held 36.1 years (since 1990)
trust
Recorded Deed Chain
DateGrantorGranteeDoc Type
Apr 1990 Intra-Family Transfer
Loan & Deed of Trust History LA County RR/CC — rrcc.lacounty.gov
NOD Filed No
Current Lender None on record
Years Since Last Refi No refi on record
Recorder Data Fetched May 22, 2026
No active NOD. Recorder was queried May 22, 2026. No Deed of Trust matched for this APN — owner may hold free and clear.
LA Underwriting Flags Pending — run jobs/la-flags-ingest.js
🔵 RSO Status
data pending
Run jobs/la-flags-ingest.js to populate RSO status from LAHD dataset.
Source: LAHD RSO dataset · LAMC §151.02
🟡 ULA Mansion Tax
data pending
Run la-flags-ingest job to compute ULA exposure.
Source: Measure ULA · LA City Ordinance 187382 (Apr 2023)
🔴 Soft-Story Retrofit
data pending
Run jobs/la-flags-ingest.js to pull LADBS Soft-Story list data.
Source: LADBS Soft-Story Retrofit Program · Ordinance #183893
Owner Contact Enrichment
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LA Underwriting Pro-Forma RSO · ULA · Soft-story · Cap rate — every number cited
🔵 RSO Rent Roll Model ?
RSO status unknown — run jobs/la-flags-ingest.js to populate LAHD data.
🟡 ULA Mansion Tax Exposure ?
Projected sale price $4.67M
Formula: max(AV × 1.5 = $$3.28M, submarket $/unit × units = $$4.67M)
ULA Exposure None — below $5.15M threshold
At projected price, ULA Measure does not apply.
Source: Measure ULA · LA City Ordinance 187382, effective Apr 1, 2023.
Tax is paid by seller at close of escrow. This is the seller's largest hidden transaction cost.
🔴 Soft-Story Retrofit Capex
data pending — run jobs/la-flags-ingest.js to check LADBS soft-story status for this APN.
📊 Implied Cap Rate — AV vs Market
Rent basis submarket median rent
Gross Scheduled Income (GSI) $398K/yr
Effective Gross Income (95.0% occ.) $378K/yr
Net Operating Income (65.0% of EGI) $246K/yr
At Assessed Value
(Prop-13 locked — understated)
11.2%
$2.19M AV
At Market Value
(comp-adjusted)
5.3%
$4.67M market est.
Vacancy: 5.0% assumed (CBRE LA Multifamily 2024 avg).
Opex: 35.0% of EGI (industry standard for LA multifamily — mgmt, taxes, insurance, maintenance).
AV cap is artificially high because Prop-13 AV is locked near purchase price. Gap = owner's hidden equity.
Honesty disclaimer: All figures cite public-record sources or carry a "data pending" label. No fabricated rents, no assumed financing terms, no fake NOI. Rent estimates use LAHD / HUD FMR medians — actual rents may vary. Cap rates use assumed vacancy and opex ratios standard for LA multifamily.
Comparable Sales Last 24 months · Hollywood / Franklin Village submarket (no lat/lon for radius)
No comps within Hollywood / Franklin Village submarket in last 24 months with recorded sale prices.
This is real data — no fabrication. LA County Recorder data for recent sales may lag 60–90 days.
Notes & Outreach Untouched
Update Outreach State
Raw Parcel Data
{ "id": 851, "apn": "5550-091-026", "address": "11950 N Las Palmas Ave", "city": "Los Angeles", "submarket": "Hollywood / Franklin Village", "units": 17, "year_built": 1972, "use_code": "0503", "use_code_label": "Apartment Building (16-30 units)", "assessed_land": "1227000", "assessed_improvement": "959000", "assessed_total": "2186000", "last_sale_date": "1990-04-04T00:00:00.000Z", "last_sale_price": "6015000", "last_transfer_type": "intra_family", "years_held": "36.1", "owner_name": "Watanabe Living Trust", "owner_type": "trust", "signal_score": 68, "signals_fired": [ { "note": "Prop 13 locks assessed value near purchase price; longer hold = larger gap to market", "field": "years_held", "value": "36.1 years", "points": 25, "signal": "Long hold", "pending": false, "source_dataset": "LA County Assessor — Deed transfer records (last_sale_date field)" }, { "note": "At 47% of submarket comp, locked equity creates sell/refi pressure", "field": "assessed_total, units", "value": "Assessed $2.19M vs ~$4.7M est. market (47% of comp)", "points": 13, "signal": "Prop 13 equity gap", "pending": false, "source_dataset": "LA County Assessor 2024 roll — annual assessed value (data.lacounty.gov)" }, { "note": "Trust ownership signals estate/succession planning; trustee sales common", "field": "owner_type, owner_name", "value": "Watanabe Living Trust", "points": 15, "signal": "Owner entity: trust", "pending": false, "source_dataset": "LA County Assessor — owner-of-record (assessment roll)" }, { "note": "Succession or estate event; heirs often prefer cash over landlord operations", "field": "last_transfer_type", "value": "Intra-family transfer", "points": 15, "signal": "Intra-family transfer", "pending": false, "source_dataset": "LA County Recorder — deed transfer records (rrcc.lacounty.gov)" }, { "note": "Recorder ingestion pending for this parcel; signal excluded from score", "field": "years_since_last_dot", "value": "data pending", "points": 0, "signal": "Refi recency", "pending": true, "source_dataset": "LA County Recorder (rrcc.lacounty.gov) — Deed of Trust records" } ], "signal_type": "succession", "status": "active", "created_at": "2026-05-22T20:25:56.441Z", "updated_at": "2026-05-22T21:17:58.411Z", "years_since_last_dot": null, "current_lender": null, "ownership_chain": [ { "to": "Watanabe Living Trust", "date": "1990-04-04", "from": null, "type": "Intra-Family Transfer", "source": "assessor_proxy", "doc_num": null } ], "has_recent_nod": false, "recorder_raw": { "source": "assessor_proxy", "doc_count": 0, "fetched_at": "2026-05-22T21:17:58.380Z", "assessor_gis": null, "recorder_status": "robots_disallow_or_server_down" }, "recorder_fetched_at": "2026-05-22T21:17:58.411Z", "assessor_enriched_at": null, "score_breakdown": [ { "note": "Prop 13 locks assessed value near purchase price; longer hold = larger gap to market", "field": "years_held", "value": "36.1 years", "points": 25, "signal": "Long hold", "pending": false, "source_dataset": "LA County Assessor — Deed transfer records (last_sale_date field)" }, { "note": "At 47% of submarket comp, locked equity creates sell/refi pressure", "field": "assessed_total, units", "value": "Assessed $2.19M vs ~$4.7M est. market (47% of comp)", "points": 13, "signal": "Prop 13 equity gap", "pending": false, "source_dataset": "LA County Assessor 2024 roll — annual assessed value (data.lacounty.gov)" }, { "note": "Trust ownership signals estate/succession planning; trustee sales common", "field": "owner_type, owner_name", "value": "Watanabe Living Trust", "points": 15, "signal": "Owner entity: trust", "pending": false, "source_dataset": "LA County Assessor — owner-of-record (assessment roll)" }, { "note": "Succession or estate event; heirs often prefer cash over landlord operations", "field": "last_transfer_type", "value": "Intra-family transfer", "points": 15, "signal": "Intra-family transfer", "pending": false, "source_dataset": "LA County Recorder — deed transfer records (rrcc.lacounty.gov)" }, { "note": "Recorder ingestion pending for this parcel; signal excluded from score", "field": "years_since_last_dot", "value": "data pending", "points": 0, "signal": "Refi recency", "pending": true, "source_dataset": "LA County Recorder (rrcc.lacounty.gov) — Deed of Trust records" } ], "submarket_velocity": null, "scored_at": "2026-05-22T21:17:00.213Z", "rso_status": "unknown", "ula_flag": null, "soft_story_status": "unknown", "la_flags_ingest_at": null, "owner_normalized": "WATANABE LIVING", "lat": null, "lng": null, "last_contact_verified_at": null }