NOT LISTED FOR SALE

Estimated Value: $1,583,000 - $1,948,000

2 Beds
1 Bath
3,272 Sq Ft
$519/Sq Ft Est. Value

Last Sold November 05, 2024

Last sale price $1,592,000 $487 Per Sq Ft

Est. 7% increase in value since last sale

Current estimated payment $10,148/month

29 Days on Market

Highlights

  • No HOA
  • 4 Car Garage
  • Heating System Uses Natural Gas
  • Joaquin Miller Elementary School Rated A-
  • Level Lot

About This Home

As of November 2024

The Spazier Apartments is a 4-unit apartment building located in Burbank, CA and is situated right on the border of Burbank and Glendale between San Fernando Rd. and Glenoaks Blvd. The subject property consists of 4-Two Bedroom / One Bath Units, with 4 detached enclosed garages. This property boasts a Walk Score of 89 - ideal for tenants. Per the assessor, the total livable square footage is 3,272sf with these spacious units all with hardwood floors. The lot size is 9,268sf with potential to build up to 4 ADU’s - Buyer to verify with City of Burbank. This property is priced to sell, so please only. serious consideration.

Last Agent to Sell the Property

Kevin Hurley

Keller Williams Realty/Pasadena Brokerage Phone: 626-484-1897 License #01237798 Listed on: 09/04/2024

Keller Williams Realty/Pasadena

Last Buyer's Agent

NoEmail NoEmail

NONMEMBER MRML

NONMEMBER MRML

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1944

Lot Details

  • 9,268 Sq Ft Lot
  • 1 Common Wall
  • Level Lot

Parking

  • 4 Car Garage
  • Parking Available

Home Design

  • Quadruplex
  • Entry on the 1st floor

Interior Spaces

  • 3,272 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 1 Bathroom

Outdoor Features

  • Rain Gutters

Utilities

  • Heating System Uses Natural Gas
  • Wall Furnace

Listing and Financial Details

  • Tax Lot 1
  • Assessor Parcel Number 5624002020
  • $412 per year additional tax assessments

Community Details

Overview

  • No Home Owners Association
  • 4 Units

Building Details

  • Rent Control
  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 4 Separate Water Meters
  • Gardener Expense $1,200
  • Insurance Expense $4,226
  • Maintenance Expense $4,950
  • Trash Expense $1,080
  • Water Sewer Expense $2,160
  • New Taxes Expense $17,717
  • Operating Expense $31,745
  • Gross Income $96,030
  • Net Operating Income $64,285

Property Details

Home Type

Multi-Family

Year Built

Built in 1944

Lot Details

0

Parking

4

Listing Details

  • Assessments: Yes
  • CapRate: 4.02
  • Property Attached: Yes
  • Water Sewer Expenses: 2160.00
  • Zoning: BUR3*
  • Property Sub Type: Quadruplex
  • Property Type: Residential Income
  • Gardener Expense: 1200.00
  • Parcel Number: 5624002020
  • Year Built: 1944
  • Special Features: None

Interior Features

  • Stories: 2
  • Common Walls: 1 Common Wall
  • Entry Level: 1
  • Price Per Square Foot: 486.55

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 4.00
  • Parking: Yes
  • Parking Features: Garage
  • Total Parking Spaces: 4.00

Utilities

  • Heating: Yes
  • Laundry: No
  • Heating Type: Natural Gas, Wall Furnace
  • Sewer: Public Sewer
  • Trash Expense: 1080.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Gutters

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Level with Street
  • Lot Size Sq Ft: 9268.00
  • Lot Size Acres: 0.2128

Multi Family

  • Gross Income: 96030.00
  • Gross Multiplier: 16.16
  • Gross Operating Income: 96030.00
  • Gross Scheduled Income: 99000.00
  • Insurance Expense: 4226.00
  • Lot Size Area: 9268.0000 Square Feet
  • Maintenance Expense: 4950.00
  • Net Operating Income: 64285.00
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 4
  • Number Of Units Total: 4
  • Operating Expense: 31745.00
  • Rent Control: Yes
  • Total Expenses: 31745.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 17717.00
  • Tax Census Tract: 3107.03
  • Tax Lot: 1
  • Tax Tract Number: .
  • TaxOtherAnnualAssessmentAmount: 412.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Sep 4, 2024
Closed on
Oct 30, 2024
Sold by
Snashall Family Trust and Snashall Mark
Bought by
1065 E Spazier Ave Llc
Seller's Agent
Kevin Hurley
Keller Williams Realty/Pasadena
Buyer's Agent
NoEmail NoEmail
NONMEMBER MRML
List Price
$1,600,000
Sold Price
$1,592,000
Premium/Discount to List
-$8,000
-0.5%
Views
23
Current Estimated Value
$1,696,595

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$104,595
Avg. Annual Appreciation
5.74%
Original Mortgage
$1,273,600
Outstanding Balance
$1,259,539
Interest Rate
6.09%
Mortgage Type
New Conventional
Estimated Equity
$437,056

Purchase Details

Closed on
Jun 14, 2006
Sold by
Abramian Robin Der and Abramian Arax A
Bought by
Snashall Mark

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$699,000
Interest Rate
6.57%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Jun 15, 2004
Sold by
Derabramians Robin and Abramian Arax A
Bought by
Derabramians Robin

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$441,000
Interest Rate
6.09%
Mortgage Type
New Conventional

Purchase Details

Closed on
Sep 25, 2003
Sold by
Abramians Robin Der and Abramian Arax A
Bought by
Abramians Robin Der

Purchase Details

Closed on
Mar 11, 2003
Sold by
Derabramians Robin and Abramian Arax A
Bought by
Derabramians Robin

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$320,000
Interest Rate
5.79%

Purchase Details

Closed on
Oct 21, 2002
Sold by
Abramian Robin Der and Abramian Arax A
Bought by
Abramians Robin Der

Purchase Details

Closed on
Jun 21, 1998
Sold by
Family Trust Anand Harish C Co Tr Harish C An and Iles Anthony
Bought by
Derabramian Robin

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$206,400
Interest Rate
6.9%
Source: Public Records

Range of Values:

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

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
1065 E Spazier Ave Llc $1,592,000 Ticor Title Company
Snashall Mark $999,000 United Title Company
Derabramians Robin -- Alliance Title Company
Abramians Robin Der -- --
Derabramians Robin -- Landsafe Title
Abramians Robin Der -- --
Derabramian Robin $258,000 Old Republic Title Company
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open 1065 E Spazier Ave Llc $1,273,600
Previous Owner Snashall Mark $699,000
Previous Owner Derabramians Robin $441,000
Previous Owner Derabramians Robin $320,000
Previous Owner Derabramian Robin $206,400
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
11/05/2024 11/05/24 Sold $1,592,000 -0.5% $487 / Sq Ft
10/03/2024 10/03/24 Pending -- -- --
09/04/2024 09/04/24 For Sale $1,600,000 -- $489 / 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 $15,102 $1,592,000 $955,000 $637,000
2024 $15,102 $1,338,436 $1,164,270 $174,166
2023 $14,943 $1,312,193 $1,141,442 $170,751
2022 $14,267 $1,286,464 $1,119,061 $167,403
2021 $14,207 $1,261,240 $1,097,119 $164,121
2020 $14,051 $1,248,309 $1,085,870 $162,439
2019 $12,941 $1,160,000 $1,009,100 $150,900
2018 $13,080 $1,160,000 $1,009,100 $150,900
2016 $11,382 $1,020,000 $887,300 $132,700
2015 $10,125 $910,000 $791,600 $118,400
2014 $10,312 $910,000 $791,600 $118,400
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: WS24183754

California Regional Multiple Listing Service (CRMLS)

APN: 5624-002-020