Seller's Agent in 2023
Arthur Mangassarian
RE/MAX
(818) 409-0040
2 in this area
46 Total Sales
10427 Commerce Ave Los Angeles, CA 91042
2
Beds
1
Bath
5,800
Sq Ft
9,967
Sq Ft Lot
About This Home
As of December 2023Trust sale. Reduced for immediate sale.
6.18 CAP Rate and 11.087 Gross multiplier.
This incredible property comprises 8 units, featuring 8 two-bedroom units with 16 parking spaces.
All units are currently leased, with rents ranging from $1,750.00 to $2,000.00.
Tujunga has recently experienced a lots of migration from Glendale and La Crescenta. This has led to a appreciation in property prices, a trend that has persisted and grown annually.
While numerous new apartment constructions, primarily condominiums, have emerged, the high demand for rentals, coupled with a limited
supply of available units, has driven a notable increase in rental rates, reaching up to 40%.
The property is being sold as trust sale and is not subject to court approval.
Opportunity to build ADU in the back of the lot
Last Agent to Sell the Property
Re/Max Tri-City Realty License #00751703 Listed on: 09/25/2023
Last Buyer's Agent
Re/Max Tri-City Realty License #00751703 Listed on: 09/25/2023
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1945
Lot Details
- 9,967 Sq Ft Lot
- 1 Common Wall
- Density is 6-10 Units/Acre
Home Design
- Apartment
- Entry on the 1st floor
Interior Spaces
- 5,800 Sq Ft Home
- 2-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 2 Bedrooms
- 1 Bathroom
Parking
- 16 Open Parking Spaces
- 16 Parking Spaces
Listing and Financial Details
- Legal Lot and Block 385 / 24
- Assessor Parcel Number 2565009081
- $1,272 per year additional tax assessments
Community Details
Overview
- 2 Buildings
- 8 Units
Amenities
- Laundry Facilities
Building Details
- Rent Control
- 8 Separate Electric Meters
- 8 Separate Gas Meters
- 1 Separate Water Meter
- Gardener Expense $1,200
- Insurance Expense $2,856
- Trash Expense $3,600
- Water Sewer Expense $7,856
- Operating Expense $47,232
- Gross Income $191,736
- Net Operating Income $138,752
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 12/07/2023 12/07/23 | Sold | $2,175,000 | -4.4% | $375 / Sq Ft |
| 10/12/2023 10/12/23 | Pending | -- | -- | -- |
| 09/25/2023 09/25/23 | For Sale | $2,275,000 | -- | $392 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
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 | $27,376 | $2,218,500 | $1,530,000 | $688,500 |
| 2024 | $27,376 | $2,175,000 | $1,500,000 | $675,000 |
| 2023 | $20,519 | $1,603,858 | $996,279 | $607,579 |
| 2022 | $19,599 | $1,572,411 | $976,745 | $595,666 |
| 2021 | $19,345 | $1,541,581 | $957,594 | $583,987 |
| 2019 | $18,787 | $1,495,859 | $929,193 | $566,666 |
| 2018 | $18,598 | $1,466,529 | $910,974 | $555,555 |
| 2016 | $16,689 | $1,323,000 | $841,800 | $481,200 |
| 2015 | $16,691 | $1,323,000 | $841,800 | $481,200 |
| 2014 | $13,851 | $1,056,000 | $671,900 | $384,100 |
Source: Public Records
Agents Affiliated with this Home
-
Arthur Mangassarian
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: GD23178970
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