California passed Proposition 13 in 1978. Properties are reassessed when sold or substantially altered. Otherwise, once the property is reassessed at sale, state law caps increases in assessed value by no more than 2% per year. Her property was reassessed at $2,050,000 in 2004. The market took a dump for a couple of years where increases were not warranted, but the current assessed value is close to the 2% per year annual increase.
Below are properties taken directly from the immediate neighborhood. Hers is the last one. Her property is not worth the current assessment of $2,511,381. I have been in real estate appraisal for 21 years. This data is 100% accurate.
Address Sale Price Sale Date Area (SF) Price/SF Year Built
317 S Windsor Blvd $9,000,000 11/28/2018 6,460 $1,393 1914
435 S Plymouth Blvd $8,700,000 6/27/2019 6,339 $1,372 1917
601 S Windsor Blvd $8,700,000 8/1/2018 9,367 $929 1914
501 S Plymouth Blvd $8,342,000 6/30/2017 9,708 $859 1909
637 S Lucerne Blvd $7,660,000 3/2/2018 9,918 $772 1902
333 S Windsor Blvd $7,160,000 3/22/2018 5,550 $1,290 1914
627 S Plymouth Blvd $4,800,000 3/5/2015 6,080 $789 1906
333 S Plymouth Blvd $4,690,500 6/6/2018 4,541 $1,033 1920
346 S Lucerne Blvd $4,507,000 6/20/2018 4,576 $985 1919
549 S Lucerne Blvd $2,050,000 10/6/2004 6,081 $337 1924
The sales range from $772 to over $1,300 per SF. Hard to imagine her place falling anywhere other than somewhere in this range.