Mel Macklin
HomeSmart, Evergreen Realty
(747) 307-7003
49 Total Sales
2 in Downtown Burbank
$670,000 Price Range
1019 E Spazier Ave Burbank, CA 91502
Downtown Burbank NeighborhoodEstimated Value: $1,464,000 - $1,640,846
3
Beds
2
Baths
5,722
Sq Ft
$267/Sq Ft
Est. Value
Highlights
- 0.39 Acre Lot
- No HOA
- Level Lot
- Joaquin Miller Elementary School Rated A-
- Landscaped
- 1-Story Property
About This Home
As of June 2023Paul Kott Realtors, Inc. – Commercial Division is pleased to present this multifamily investment opportunity in prime Burbank. 1019-1023 East Spazier Avenue offers eight charming bungalow style units in a prime location situated walking distance to Ralph’s, Trader Joe’s, Starbucks, CVS, Walgreens, and several other shopping and dining options making it attractive for any tenant to live so close to convenience.
This unique rarely traded asset is situated in one of the most desirable rental markets in Los Angeles located walking distance to downtown Burbank, 0.3 miles to the 5 Freeway, and approximately 3 miles to Warner Bros. Studios. Additionally, the property is not subject to any local or city rent control and only subject to AB-1482.
The property sits on a double lot totaling 16,900 SF of land with 5,722 SF of rentable space consisting of (2) two-bedroom, one bath units and (6) one-bedroom, one bath units. Each unit maintains its own washer and dryer and is separately metered for electricity and gas which the tenants pay for. The offering provides a rare opportunity for a savvy investor to acquire this trophy asset for long term appreciation.
Please contact listing agent for Offering Memorandum.
*DO NOT ENTER ONTO PROPERTY WITHOUT SELLER'S WRITTEN CONSENT*
Last Agent to Sell the Property
Brett Cervantes
Kott & Company, Inc. License #01499474 Listed on: 04/12/2023
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Property Details
Home Type
- Multi-Family
Year Built
- Built in 1940
Lot Details
- 16,900 Sq Ft Lot
- Two or More Common Walls
- Landscaped
- Level Lot
- 5624002033
Parking
- 2 Car Garage
Home Design
- Apartment
- Entry on the 1st floor
Interior Spaces
- 5,722 Sq Ft Home
- 1-Story Property
- Laundry in Kitchen
Bedrooms and Bathrooms
- 3 Bedrooms
- 2 Bathrooms
Outdoor Features
- Exterior Lighting
Listing and Financial Details
- Tax Lot 14
- Tax Tract Number 8862
- Assessor Parcel Number 5624002032
- $32,329 per year additional tax assessments
Community Details
Overview
- No Home Owners Association
- 2 Buildings
- 8 Units
Amenities
- Laundry Facilities
Building Details
- 8 Separate Electric Meters
- 8 Separate Gas Meters
- 1 Separate Water Meter
- Gardener Expense $3,600
- Insurance Expense $2,446
- Maintenance Expense $5,000
- Professional Management Expense $6,617
- Trash Expense $2,028
- Water Sewer Expense $2,580
- Operating Expense $54,600
- Gross Income $165,420
- Net Operating Income $110,820
Ownership History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Apr 12, 2023
Closed on
Jun 20, 2023
Sold by
Bought by
Seller's Agent
Brett Cervantes
Kott & Company, Inc.
Buyer's Agent
Varouj Madadian
Galaxy Real Estate Services
List Price
$2,998,000
Sold Price
$3,000,000
Premium/Discount to List
$2,000
0.07%
Views
8
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$1,469,788
Avg. Annual Appreciation
-19.41%
Original Mortgage
$1,000,000
Outstanding Balance
$962,073
Interest Rate
6.35%
Mortgage Type
New Conventional
Estimated Equity
$568,139
Purchase Details
Listed on
Apr 12, 2023
Closed on
May 23, 2023
Sold by
Bought by
Seller's Agent
Brett Cervantes
Kott & Company, Inc.
Buyer's Agent
Varouj Madadian
Galaxy Real Estate Services
List Price
$2,998,000
Sold Price
$3,000,000
Premium/Discount to List
$2,000
0.07%
Views
8
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,000,000
Outstanding Balance
$962,073
Interest Rate
6.35%
Mortgage Type
New Conventional
Estimated Equity
$568,139
Purchase Details
Closed on
Mar 9, 2023
Sold by
Bought by
Purchase Details
Closed on
Sep 22, 2000
Sold by
Bought by
Home Values in the Area
Average Home Value in this Area
Agents Specializing in Downtown Burbank, CA
-
Mel Macklin
-
Brent Ballard
Brent Ballard
Anderson Ballard Companies
(747) 307-4526
166 Total Sales
1 in Downtown Burbank
$1,680,000 Price
-
Victoria Waldorf
Victoria Waldorf
Equity Union
(747) 293-4720
88 Total Sales
3 in Downtown Burbank
$740K - $745K Price Range
-
Amy Engler
Amy Engler
Douglas Elliman of California, Inc.
(424) 541-1946
60 Total Sales
1 in Downtown Burbank
$615,000 Price
-
David Nalbandyan
David Nalbandyan
LA Premier Realty
(747) 277-0134
83 Total Sales
1 in Downtown Burbank
$1,350,000 Price
-
Janice Shin
Janice Shin
Pinnacle Real Estate Group
(626) 900-1562
12 Total Sales
2 in Downtown Burbank
$819,000 Price Range
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| -- | Fidelity National Title | ||
| $1,500,000 | Fidelity National Title | ||
| -- | -- | ||
| -- | -- |
Source: Public Records
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | $1,000,000 |
Source: Public Records
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 06/23/2023 06/23/23 | Sold | $3,000,000 | +0.1% | $524 / Sq Ft |
| 05/09/2023 05/09/23 | Pending | -- | -- | -- |
| 04/12/2023 04/12/23 | For Sale | $2,998,000 | -- | $524 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| 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 | $17,765 | $1,560,600 | $977,976 | $582,624 |
| 2024 | $17,214 | $1,530,000 | $958,800 | $571,200 |
| 2023 | $4,576 | $375,280 | $373,428 | $1,852 |
| 2022 | $4,378 | $367,922 | $366,106 | $1,816 |
| 2021 | $4,346 | $360,709 | $358,928 | $1,781 |
| 2020 | $4,298 | $357,011 | $355,248 | $1,763 |
| 2019 | $4,178 | $350,012 | $348,283 | $1,729 |
| 2018 | $4,061 | $343,150 | $341,454 | $1,696 |
| 2016 | $3,763 | $329,827 | $328,196 | $1,631 |
| 2015 | $3,689 | $324,874 | $323,267 | $1,607 |
| 2014 | $3,705 | $318,511 | $316,935 | $1,576 |
Source: Public Records
Agents Affiliated with this Home
-
B
Seller's Agent in 2023
Brett Cervantes
Kott & Company, Inc.
-
Varouj Madadian
Buyer's Agent in 2023
Varouj Madadian
Galaxy Real Estate Services
(818) 244-4442
1 in this area
17 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW23060870
APN: 5624-002-033
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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