NOT LISTED FOR SALE

10165 Pinewood Ave Tujunga, CA 91042

3 Beds
2 Baths
10,224 Sq Ft
10,428 Sq Ft Lot

Last Sold November 21, 2018

Last sale price $3,475,000 $340 Per Sq Ft

78 Days on Market

Highlights

  • Mountain View
  • No HOA
  • Central Air
  • Verdugo Hills Senior High School Rated A-
  • Laundry Room
  • 5-minute walk to Little Landers Park

About This Home

As of November 2018

Built in 1987, the Pinewood View Apartments offers investors a rare opportunity to acquire a non-rent controlled, 14-unit apartment community in Tujunga. The property is comprised of an ideal unit mix featuring (4) one-bedroom/one-bath units at an estimated 600 square feet, and (10) two bedroom/one-bath units at approximately 775 square feet. Seller has upgraded 50% of the units (see rent roll for details). Individual units are outfitted with central air conditioning, dishwashers, fireplaces, and most feature stunning mountain views. Tenants additionally benefit from plentiful, secured parking comprised of individual enclosed garages with direct access to the building.

* Do not go on property, tenants do not know it is for sale *

Last Agent to Sell the Property

Kevin Lutz

Keller Williams Realty/Pasadena License #00925595 Listed on: 07/23/2018

Keller Williams Realty/Pasadena

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1987

Lot Details

  • 10,428 Sq Ft Lot
  • Two or More Common Walls
  • Level Lot

Parking

  • 24 Car Garage

Home Design

  • Property Attached

Interior Spaces

  • 10,224 Sq Ft Home
  • 2-Story Property
  • Living Room with Fireplace
  • Mountain Views
  • Dishwasher
  • Laundry Room

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2 Bathrooms

Additional Features

  • Rain Gutters
  • Central Air

Listing and Financial Details

  • Tax Lot 123
  • Assessor Parcel Number 2565014024

Community Details

Overview

  • No Home Owners Association
  • 14 Units

Amenities

  • Laundry Facilities

Building Details

  • 14 Leased Units
  • 14 Separate Electric Meters
  • 14 Separate Gas Meters
  • 1 Separate Water Meter
  • Insurance Expense $5,208
  • Other Expense $1,200
  • Professional Management Expense $8,400
  • Trash Expense $2,676
  • Water Sewer Expense $10,200
  • New Taxes Expense $42,907
  • Operating Expense $86,699
  • Gross Income $2,100
  • Net Operating Income $160,534

Property Details

Home Type

Multi-Family

Year Built

Built in 1987

Lot Details

0

Parking

24

Listing Details

  • CapRate: 4.46
  • Professional Management Expense: 8400.00
  • Property Attached: Yes
  • View: Yes
  • Water Sewer Expenses: 10200.00
  • Zoning: LAR3
  • Property Type: Residential Income
  • Parcel Number: 2565014024
  • Year Built: 1987
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: Yes
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Appliances: Yes
  • Fireplace Features: Living Room
  • Levels: Two
  • Price Per Square Foot: 339.89

Exterior Features

  • View: Mountain(s)
  • Pool Private: No

Garage/Parking

  • Garage Spaces: 24.00
  • Total Parking Spaces: 24.00

Utilities

  • Laundry: Yes
  • Appliances: Dishwasher
  • Laundry Features: Community
  • Sewer: Public Sewer
  • Trash Expense: 2676.00
  • Water Source: Public
  • Cooling: Central Air
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Gutters

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Level with Street
  • Lot Size Sq Ft: 10428.00
  • Lot Size Acres: 0.2394

Multi Family

  • Average1 Bed Area: 600 Square Feet
  • Average2 Bed Area: 775 Square Feet
  • Gross Income: 2100.00
  • Gross Multiplier: 14.12
  • Gross Operating Income: 247234.00
  • Gross Scheduled Income: 254880.00
  • Insurance Expense: 5208.00
  • Lot Size Area: 10428.0000 Square Feet
  • Maintenance Percent: 6.00
  • Net Operating Income: 160534.00
  • Number Of Separate Electric Meters: 14
  • Number Of Separate Gas Meters: 14
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 14
  • Number Of Units Total: 14
  • Operating Expense: 86699.00
  • Other Expense: 1200.00
  • Other Expense Description: gardener
  • Rent Control: No
  • Total Actual Rent: 252780.00
  • Total Expenses: 86699.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 42907.00
  • Tax Census Tract: 1012.10
  • Tax Lot: 123

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
11/21/2018 11/21/18 Sold $3,475,000 -3.5% $340 / Sq Ft
10/09/2018 10/09/18 Pending -- -- --
07/23/2018 07/23/18 For Sale $3,600,000 +39.8% $352 / Sq Ft
08/11/2015 08/11/15 Sold $2,575,000 -1.9% $252 / Sq Ft View Prior Sale
06/25/2015 06/25/15 Pending -- -- --
05/17/2015 05/17/15 For Sale $2,625,000 -- $257 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $47,201 $3,876,423 $2,231,036 $1,645,387
2024 $47,201 $3,800,416 $2,187,291 $1,613,125
2023 $46,296 $3,725,899 $2,144,403 $1,581,496
2022 $44,167 $3,652,843 $2,102,356 $1,550,487
2021 $43,602 $3,581,220 $2,061,134 $1,520,086
2019 $42,311 $3,475,000 $2,000,000 $1,475,000
2018 $33,367 $2,679,030 $1,560,600 $1,118,430
2016 $31,812 $2,575,000 $1,500,000 $1,075,000
2015 $13,503 $1,038,604 $311,575 $727,029
2014 $13,634 $1,018,260 $305,472 $712,788
Source: Public Records

Agents Affiliated with this Home

  • Kevin Lutz

    Seller's Agent in 2018

    Kevin Lutz

    Keller Williams Realty/Pasadena

    (626) 429-0685

    20 Total Sales

    Kevin Lutz
    Section Image
  • Daniel Withers

    Seller's Agent in 2015

    Daniel Withers

    Matthews Real Estate Investment Services

    (310) 365-5054

    1 in this area

    47 Total Sales

    Daniel Withers
    Section Image

  • S

    Buyer's Agent in 2015

    Subscriber Non

    Non-Participant Office

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: WS18178040

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Tujunga 91042

10165 Pinewood Ave, Tujunga, CA

Not Listed for Sale

MultiFamily

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