Investment Property in Los Feliz Knolls

Age. The City's SurveyLA Hollywood survey records homes here from 1908 through 1950. The oldest it lists is 3728 Monon Street from 1908. The newest is the 1950 J.R. Davidson house at 3214 Waverly Drive. For a property of that age, the permits and plans for past work belong in your file before you close.

Record. Some addresses appear in the survey by architect. Lloyd Wright at 3202 and 3209 Lowry Road. Raphael Soriano at 2190 Talmadge Street. Milton J. Black at 4241 Newdale Drive. Max Maltzman at 3344 Rowena Avenue. One property, the Sam and Jane Taylor House at 3235 to 3247 Waverly Drive, is City Historic-Cultural Monument No. 1216, and the Los Feliz Improvement Association dates it to 1947. A record like that shapes what an owner can change later. Where a home carries a Mills Act contract, it is a revolving 10-year agreement that passes to the new owner, so we ask for a copy early in escrow.

Tract. County Assessor records show parcels here under the Ivanhoe tract, named in 1887 according to L.A. Street Names, and under several later numbered tracts. The title report names yours. Where an owners association applies to a property, we read its CC&Rs with you during the inspection period.

Ground. Parts of Los Feliz Knolls are hillside and parts sit on flatter ground. A hillside lot on Cedarhurst or Ben Lomond means drainage, retaining walls and access are part of the inspection. On Waverly Drive the LFIA describes a hilltop view over Griffith Park and the Verdugo Hills, which is the kind of feature a rental listing can state and a photographer has to capture.

Transfer tax. Los Feliz is inside the City of Los Angeles, so Measure ULA applies to conveyances here. According to the City of Los Angeles Office of Finance, for closings after June 30, 2026 it applies to sales over $5,400,000 and is charged on the whole value. Read any list price near that line with the tax in mind. Our explainer on what Measure ULA is has the details.

• The 1031 clock, if one applies. The IRS requires written identification of the replacement no later than 45 days after you transfer the property you gave up, and receipt by the 180th day. We start the Los Feliz Knolls search before your sale closes. Our post on the 1031 exchange for Los Feliz investment property covers the rules.
• The survey entry. Whether the address is one SurveyLA names, and whether it is a Historic-Cultural Monument.
• The tract and any CC&Rs. Ivanhoe or a later numbered tract, and any recorded restrictions on use.
• Permits for past work. Homes here date from 1908 through 1950 in the City's survey.
• The slope. On a hillside lot, drainage and retaining walls and access go on the inspection list.
• The inspection period. Brandon typically writes 7 to 10 days, set in each offer. The initial deposit is about 3% of the price and is held by the escrow company. Purchases in Los Angeles close through escrow and title companies.
• The transfer tax line. Measure ULA applies to sales over $5,400,000 closing after June 30, 2026.

This page explains how the process works. It is not tax or legal advice. For your own situation, talk with your CPA or attorney as well.