AMRE
In Escrow
Buyer-side · Confidential
4248 La Salle Avenue.
A three-structure compound in Culver City.
Closing June 5.
$2,512,500 purchase price
20% down
— days to contingency
— days to close
Spanish compound · Carlson Park
4248 La Salle Ave, Culver City, CA 90232
5 bed / 5 bath
Across 3 structures
2,627 sq ft
Total living area
6,749 sq ft lot
0.15 acres
Built 1923
Updated / remodeled
3 units
Duplex w/ detached ADU
CCR2YY
Zoning
Three detached homes on a cul-de-sac: a 1,250 sf Spanish main (2 bed + office, Batchelder fireplace, Aga range, hot tub), a 750 sf rear unit (2 bed/1 bath, vaulted ceilings, Heartland range), and a 627 sf two-story ADU with rooftop deck and hillside views. All with AC, separate laundry, private outdoor spaces.
MLS #26733329 · Listed $2,469,000 · Last sold Jun 2023 at $1,915,000 · APN 4207-024-027
Progress
Where we stand.
—%
complete
Day — of 39
Acceptance
Apr 28
✓ Executed
Contingency
May 8
—
Close
Jun 5
—
—
Days elapsed
—
Days remaining
5
Inspections scheduled
8
Contacts on file
This week
Three days to contingency.
Reconcile and remove.
Six of eight inspections done. Termite report in. Seller's answers in. Appraisal cleared over price. Foundation tomorrow.
Critical · review
Now → Fri May 8
Reconcile every report before contingency.
Seller's answers to follow-up questions arrived May 5 (Matt Bauer), with roof invoice and survey. Termite report from Blue Cloud in May 4 — wood repair work not included in estimate; fumigation specialist suggested before any work. Mold remediation quotes out to Acme Clean Air and Accurate Environmental — work expected post-COE since walls won't be opened during escrow. ADU permit gap on file at Culver City — the rear ADU has no issued ADU permit or finalized C of O in Accela, contradicting the SPQ. Decision to make before May 8.
Tomorrow · on-site
Wed May 6 · 12 – 1 PM
Foundation & drainage — LA Seismic.
Renato Sebastian inspecting all three structures · $475. Roof inspection (SLR) cleared this morning May 5 · $500 — bid follow-ups in motion. Plumbing inspection scheduled June 6 — after COE; seismic shut-off valves and toilet replacement to be quoted then.
See full schedule below ↓
Action · buyers
By Thu May 7
VICZ-LA LLC formation docs.
Matt Bauer needs Operating Agreement and Articles of Organization to execute the Assignment of Agreement Addendum. Insurance (Beverley at Paul Diaz / Nicole at Goosehead as backup) also requesting LLC details to finalize quote. Appraisal cleared $2,520,000 — $7,500 over price; underwriter sign-off pending.
Timeline
From offer to close.
Thirty-eight days.
Ten days for inspections. Twenty-eight to fund.
Phase 01 · Complete
Acceptance
Apr 28, 2026
Offer accepted. BAFO terms locked at $2,512,500 with 20% down.
✓ Executed
Phase 02 · Active
Contingency Removal
May 8, 2026
Inspection only. No appraisal or loan contingency. All findings reconciled before this date.
Calculating…
Phase 03 · Pending
Close of Escrow
Jun 5, 2026
Funding through OriginPoint. Loan signing location TBD — California or Singapore consulate.
Calculating…
Deal terms
The numbers.
All locked. Singapore-based buyers. Resolution Escrow file 5852-KM.
Purchase Price · Locked
$2,512,500
20% down · $502,500 cash · $2,010,000 financed
Side
Buyer
AMRE @ Compass · representing buyer
Buyers
Confidential
Singapore-based
Sellers
A. Duchin Shapiro & J. Nagel
Listed by Todd Miller
Property
Three structures
Owner-occupied front + 2 tenant units
Escrow
Resolution · 5852-KM
Katie McGuire
Title
Fidelity National
Officer TBD · Prelim by May 4
Lender
OriginPoint
Dan Millstone · NMLS 260491
Insurance
Paul Diaz Insurance
Beverly · quote needed for binding
Special terms · BAFO
Seven provisions locked in the best-and-final offer.
- No appraisal contingency
- No loan contingency
- Tight 10-day inspection window
- Decorative fireplace as-is per SMCO #1
- Tenant-owned items excluded from sale
- Three separate roofs · schedule by May 3
- Loan signing location TBD
Operating costs
What it costs to own.
What it earns back.
Pulled from seller's actual utility bills (Apr 2026) and signed leases. Critical for contingency removal question #2.
Monthly utilities
$868/mo
Main house electric
⚠ Address mismatch
$44.72
Main house gas
$82.46
Main house water
$128.44
Rentals electric (4250)
$328.16
Rentals gas
$86.37
Rentals water
$198.07
Heads up: Main house electric bill (acct 8011243043) shows service address 8809 Washington Blvd, not 4248 La Salle. Verify with seller before contingency removal — this may not be the right account, and actual electric for the main house could be substantially higher than $44.72/mo.
Rent roll
$6,860/mo
4248 — Unit A
$3,165
4250 — Back unit
$3,695
ADU
TBD
Estoppels were sent Apr 29 to verify these figures with tenants directly. ADU rent and remaining lease terms still to be confirmed.
Documented rental income
+$6,860/mo
Documented utilities
−$868/mo
Net before debt service, taxes, insurance
+$5,992/mo
Property taxes
The buyer's tax exposure.
One-time and ongoing.
Estimated per LA County Assessor methodology. Closing June 5, 2026 — change of ownership lands in the June 1–Dec 31 window, which produces one supplemental tax bill covering FY 2026–27. The bill arrives 1–6 months after close, separate from the regular tax bill, and is not collected through impound. Buyer should plan to set this aside.
Estimated supplemental bill
~$5,835
Estimated annual ongoing
~$30,527/yr
Monthly carrying tax (impound)
~$2,543/mo
Supplemental calculation
~$5,835one-time
New base year value (purchase price)
$2,512,500
Prior assessed value (FY 2026–27 estimate)
$2,032,213
Supplemental assessment
$480,287
Tax rate (Culver City 90232 estimate)
~1.215%
Proration (12 of 12 months FY 2026–27)
100%
Estimated supplemental tax bill
$5,730 – $6,004
Why one bill, not two: Closings between Jun 1 and Dec 31 produce a single supplemental for the upcoming fiscal year (the Jan 1 lien for FY 2026–27 was set with the seller's value, so the differential is collected via supplemental). A Jan–May closing would produce two bills.
Going-forward annual
~$30,527/yr est.
New assessed value
$2,512,500
Effective tax rate (estimated)
~1.215%
Annual range
$29,974 – $31,406
Monthly impound equivalent
~$2,543/mo
Seller's est current FY 2025–26 bill
~$24,207/yr
Buyer's net annual increase
+$6,320/yr
Prop 13 reset: Property last sold June 2023 at $1,915,000 (base year value). Reassessment on this transaction resets the base to $2,512,500. After year one, growth caps at 2%/year.
Caveats & verification
APN 4207-024-027
All figures are estimates. Three variables determine the actual bill:
- Prior assessed value — calculated by applying Prop 13's 2%/yr cap to the June 2023 sale of $1,915,000. Actual roll value may differ if seller filed a Decline-in-Value review or successful appeal. Verify on LA Assessor portal →
- Tax rate — Culver City's effective rate for 90232 typically runs 1.19–1.25% depending on the property's specific Tax Rate Area (TRA). The exact TRA for this parcel determines which voter-approved bonds and direct assessments apply. Look up TRA →
- Direct assessments — items like the Culver City school parcel tax, sewer fees, and lighting districts are flat-fee line items not reflected in the % rate. Will appear on the regular bill, not the supplemental.
Verify the official estimate before contingency removal:
→ LA County Assessor Supplemental Tax Estimator (run with APN 4207-024-027 and purchase price $2,512,500)
Diligence
Every report.
Front-loaded.
Sewer cleared. Four on-site May 1. Roof May 5. Foundation May 6. Plumbing post-COE. Reports flowing in. All access via code lasalle2026.
6 of 8 complete
Deadline: May 8
Thu Apr 30
✓ Complete · Day 1 · Remote
10:30 AM
11:30 AM
11:30 AM
Fri May 1
✓ Complete · Day 2 · On-site · Four inspectors
9:00 AM
10:00 AM
10:00 AM
Mold inspection
California Microbial · Scott Ko
$900 · Report in · Remediation quotes out (Acme + Accurate Env)
9:00 AM
11:00 AM
11:00 AM
Chimney inspection
Chimney Saviors
Decorative · per SMCO #1
9:30 AM
1:30 PM
1:30 PM
General inspection
Advanced Property Inspections
Report in · drove follow-up Q's to seller
11:30 AM
12:30 PM
12:30 PM
Termite / WDO
Blue Cloud Exterminators · Ellie
bluecloudexterminators@gmail.com
$225 · Report in May 4 · Wood repair not in estimate
Tue May 5
✓ Complete · Day 3 · On-site
9:00 AM
10:00 AM
10:00 AM
Roof inspection
SLR Construction & Remodeling
slrremodeling6@gmail.com
$500 · Bid follow-ups in motion
Wed May 6
Tomorrow · Day 4 · On-site
12:00 PM
1:00 PM
1:00 PM
Foundation & drainage
LA Seismic · Renato Sebastian
$475 · Estimate to follow
Scheduled · post-COE
Plumbing — June 6, 2026.
New Generation Plumbing confirmed June 6 · 12:00 – 1:00 PM · $250. Falls after close of escrow — so plumbing is informational only, not a basis for contingency removal. Scope: full plumbing review, new toilet quote, seismic shut-off valves.
Jun 6 · post-COE
Due diligence
The full picture.
Before your deposit locks.
Four tracks running in parallel. Complete this checklist before signing the Contingency Removal on May 8.
Physical inspections
Structure, systems, hidden conditions
✓
Sewer scope — Thu Apr 30, 10:30 AM (Sewer Scope Pros · Guillermo) · Complete · awaiting written report
✓
Mold inspection — Fri May 1, 9:00 AM (California Microbial · $900 for 3 structures)
✓
Chimney inspection — Fri May 1, 9:00 AM (Chimney Saviors · decorative fireplace, as-is per SMCO #1)
✓
General home inspection — Fri May 1, 9:30 AM–1:30 PM (Advanced Property Inspections · structural, electrical, plumbing red flags)
✓
Termite / WDO — Fri May 1, 11:30 AM (Blue Cloud · Ellie · $225 · Section 1 dry rot/water damage)
✓
Roof inspection — Tue May 5, 9 AM (SLR Construction · $500 · single contractor for all three structures, bid follow-ups in motion).
✓
Foundation & drainage — Wed May 6, 12 PM (LA Seismic · Renato Sebastian · $475).
Plumbing — Sat Jun 6, 12 PM (New Generation Plumbing · $250 · post-COE; informational only).
Repair cost estimates — For any major issues found, get contractor quotes to confirm they fit budget before contingency removal.
Permits & legal
Culver City specific
Verify permits — Search the Culver City Citizen Portal (Accela) to ensure all additions, ADU, and remodels were legally permitted.
Certificate of Occupancy — Culver City report received. May need to confirm CO status given the 3-unit configuration.
Zoning classification — Confirm the property is legally classified for current use (Duplex w/ ADU vs. Triplex). Affects insurance, lending, and rental rights.
Remodel documentation — Upgrade & remodel info received from seller (Apr 29). Cross-reference against permit history on Accela. If mismatch, contact City Building Division.
Rent control & tenants
Culver City protections apply
Registration status — Verify units are registered on the Culver City Landlord Portal (HdL) or ask seller to clarify.
Rent compliance — Review rent roll. Ensure current rent hasn't exceeded the annual 3.5% (or current CPI) increase cap. Verify last rent increase date.
…
Estoppels & leases — Sent to buyers Apr 29. Verify seller claims with tenants directly: who owns the fridge? Who pays water?
…
LA AVID forms (3) — Forwarded to buyers May 1 by Matt Bauer for signature. One AVID per tenant unit.
Relocation liability — Calculate potential costs if owner move-in eviction is planned. Culver City requires relocation payments to tenants.
Property management — Get Culver City-specific PM referrals. Separate pricing for medium-term rental on front unit vs. long-term tenant units.
Insurance & disclosures
Coverage, title, seller transparency
…
Preliminary title report — Received Apr 30 from Resolution Escrow (Phoebe). Buyers reviewing; sign title amendment via DocuSign. Check for liens or easements restricting use of yard/driveway.
Hazards / claims history — Review NHD report (received Apr 29 in broker opening package) for past floods, fires, or environmental issues.
…
Insurance quote — Beverly Cavanaugh (Paul Diaz Insurance) contacted Apr 29. Lender needs this for binding. Note: old roof or Federal Pacific electrical panel may spike premium or deny coverage.
…
Seller disclosures — Formal package delivered Apr 30 (Matt Bauer). Pages 1–9 statutory; balance covers SPQ, TDS, NHD. Read for neighbor noise, past leaks, neighborhood nuisances. Prepare questions for seller.
…
Utility verification — Bills received Apr 29 (electric bill was wrong address — 8809 Washington Blvd — corrected). Golden State Water status unresolved.
LLC formation docs — Provide Operating Agreement and Articles of Organization for VICZ-LA LLC to Matt Bauer, title, and escrow once formation completes (expected early next week per Vasu, May 1).
Assignment of Agreement Addendum — Matt Bauer drafting addendum to transfer vested interests from buyers to VICZ-LA LLC. Sign once delivered.
The goal: removing contingencies.
Only sign the Contingency Removal form once you can answer "Yes" to all three questions.
QUESTION 01
Do I know exactly what I am buying?
Physical condition & legal standing. Permits, zoning, structural integrity, tenant rights — all verified.
QUESTION 02
Do I know what it will cost to own and fix?
Insurance premiums, repair estimates, PM costs, and relocation liabilities — all quantified.
QUESTION 03
Does the price still make sense?
If discoveries change the value equation — negotiate or walk. Your deposit becomes non-refundable after May 8.
Filter every finding through a risk-versus-value mindset: ignore minor cosmetic flaws, budget for aging yet functional systems, and reserve your energy for negotiating structural or safety issues. You are navigating two parallel tracks — physical discoveries from inspections and historical records from seller disclosures — with the goal of identifying deal-breakers before your deposit locks.
Roster
Every party.
Click to reach them.
Every email is mailto. Every phone number is tel.
Buyer Team
Listing Side
A. Duchin Shapiro & J. Nagel
Sellers
Escrow · Resolution
Lender · OriginPoint
Title & Insurance
Title · via Resolution Escrow
Underwriter TBD on prelim
Beverley Kavanagh · Paul Diaz Insurance
Primary insurance · awaiting LLC details
Nicole Scott · Goosehead
Backup insurance · CA OC56381 / OG05835
Inspectors
California Microbial
Mold · Scott Ko · May 1 ✓ · $900
Chimney Saviors
Chimney · May 1 ✓
Advanced Property Inspections
General · May 1 ✓
LA Seismic
Foundation & drainage · Renato Sebastian · May 6 · $475
Acme Clean Air
Mold remediation · quote out
Provisions
What we accepted.
What we're watching.
Eleven provisions across BAFO terms, property quirks, permitting, and logistics.
Confirmed · May 5
Appraisal cleared at $2,520,000.
Dan Millstone (OriginPoint) confirmed appraisal came in $7,500 over purchase price. Underwriter sign-off pending — loan to be submitted to underwriting in the next day or so. No appraisal contingency anyway, but de-risks the file regardless.
Risk · ADU permitting
No ADU C of O on file with Culver City.
Accela parcel 4207-024-027 search shows zero permits establishing the rear structure as an ADU — only sewer, partial reroof, and a 200-amp subpanel from 2023. Seller paid Culver City for building/electrical/mechanical permits and address assignment per renovation records, but none appear issued or finalized. Contradicts SPQ §8E(2). Cascades into insurance (3-unit basis), rent-control exemption claim, and future financing/resale exposure. Action: demand the issued ADU permit + finalized C of O from listing side, and have Ania or Matt call Culver City Building Safety (310-253-5800) to verbally confirm status.
Risk · BAFO
No appraisal or loan contingency.
Buyers carry full financing and valuation risk. OriginPoint timeline must align with COE — no fallback if appraisal misses.
Risk · Tight window
Three days to contingency · May 8.
Six of eight inspections complete. Seller's answers received May 5 — Ania reviewing. Foundation inspection May 6. Plumbing falls post-COE. All findings, bids, and reconciliation must complete before May 8.
Property
Three separate roofs.
One per structure. SLR Construction completed the roof inspection May 5 ($500). Bid follow-ups in motion for any repairs flagged. Seller-provided roof invoice and survey received May 5 with seller's answers package.
Confirmed · As-is
Decorative fireplace.
Sold as-is per SMCO #1. Chimney inspection (May 1) is informational — not a basis for renegotiation.
Inventory
Tenant-owned items excluded.
Items belonging to tenants in rented units are not part of the sale. Walk-throughs should clearly distinguish seller vs. tenant property.
Coverage
Home warranty & landlord policy.
Home warranty: front (owner-occupied) unit only. Landlord policy planned for the two tenant units pending seller confirmation of appliance ownership.
Vesting · Action required
Title vesting via VICZ-LA LLC.
Buyers electing LLC vesting (filed Apr 30, formation expected early next week). Matt Bauer drafting an Assignment of Agreement Addendum to transfer vested interests to the new entity. Buyers must provide Operating Agreement and Articles of Organization to title and escrow once the LLC is formed.
Logistics
Loan signing location TBD.
Buyers Singapore-based — closing signing TBD between California and Singapore consulate. Coordinate with Dan Millstone & escrow once loan docs are ready.
Confirmed
Down payment locked.
20% down at $502,500. $2,010,000 financed. Terms locked per BAFO — no further price negotiation.