Depreciation Question for Duplex Deal
Hello everyone!
I'm analyzing a duplex deal in Los Angeles, CA, and I'm trying to estimate how much I'll be able to depreciate in taxes. For this, I obviously need to be able to separate land value from the building value. How is this done? The last time the house was sold was in the 1980's, so the assessed value was much less than market price today. I can't find a straightforward formula on the LA Tax Assessor website. Any help? Thanks!