Seller's Agent in 2022
Michael Bell
Sotheby's International Realty, Inc.
(626) 796-4100
1 in this area
98 Total Sales
1217 E Harvard St Glendale, CA 91205
Citrus Grove Neighborhood
1
Bed
1
Bath
11,537
Sq Ft
0.54
Acres
Highlights
- 0.54 Acre Lot
- Colonial Architecture
- Cooling System Mounted To A Wall/Window
- Open Floorplan
- Lawn
- Park
About This Home
As of February 202222 unit Spanish Colonial Revival Bungalow Court apartment on Harvard Street in Glendale, California. 22 1-bed/1-bath units, a central laundry room, 19 carports, 1 one-car garage, a large 300 sf storage room, and a smaller storage room. 20 of 22 units have been remodeled by its retired general contractor owner over the past 20 years. Rarely ever a vacancy or a late payer. 100% occupied. Tenants pay lower-than-market rents and have had no increases in a few years. Totaling 11,537 sf and situated on a 23,630 sqft flat lot. Separately metered electric and gas, copper plumbing, AC wall units, newer roofs. Easy to maintain....this property has been self managed for decades. Offering historic value as well as investment opportunity in one of LA's most attractive rental markets. Upsides include continued rent growth projections, eligible for significant Mills Act tax savings, raising rents, adding a yearly escalation clauses, interest on security deposits, charging for parking (half the tenants don't own a car), renting out 3 storage units, and converting carports into ADU's. Glendale is an entertainment and shopping destination in Los Angeles, synonymous with high-end retail and comfortable living. Americana at Brand is less than 1 mile away. Located in the southern portion of Glendale, closest to commerce, and in close proximity to schools and transportation (a few blocks from the 134 and 2 fwy's). Zoning R2250 - Medium Density Residential.
Last Agent to Sell the Property
Sotheby's International Realty, Inc. License #01164731 Listed on: 05/21/2021
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1925 | Remodeled
Lot Details
- 0.54 Acre Lot
- Two or More Common Walls
- South Facing Home
- Wrought Iron Fence
- Landscaped
- Rectangular Lot
- Level Lot
- Lawn
- Garden
- Front Yard
Parking
- 1 Car Garage
- 19 Attached Carport Spaces
- Parking Available
- Assigned Parking
Home Design
- Colonial Architecture
- Spanish Architecture
- Bungalow
- Apartment
- Turnkey
- Tile Roof
- Copper Plumbing
- Stucco
Interior Spaces
- 11,537 Sq Ft Home
- 2-Story Property
- Open Floorplan
- Laundry Room
Bedrooms and Bathrooms
- 1 Bedroom
- 1 Bathroom
Home Security
- Carbon Monoxide Detectors
- Fire and Smoke Detector
Outdoor Features
- Exterior Lighting
- Outdoor Storage
- Rain Gutters
Location
- Suburban Location
Utilities
- Cooling System Mounted To A Wall/Window
- Forced Air Heating System
- Underground Utilities
- Natural Gas Connected
- Phone Available
- Cable TV Available
Listing and Financial Details
- Tenant pays for electricity, gas
- Tax Lot 4
- Tax Tract Number 302103
- Assessor Parcel Number 5680004012
Community Details
Recreation
- Park
- Bike Trail
Building Details
- 22 Leased Units
- 22 Separate Electric Meters
- 22 Separate Gas Meters
- Electric Expense $8,522
- Fuel Expense $5,589
- Gardener Expense $1,800
- Insurance Expense $5,500
- Maintenance Expense $6,000
- Other Expense $78,750
- Pest Control $780
- Trash Expense $2,742
- Operating Expense $110,811
- Gross Income $388,000
- Net Operating Income $277,189
Additional Features
- 22 Units
- Laundry Facilities
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 02/03/2022 02/03/22 | Sold | $5,875,000 | -0.3% | $509 / Sq Ft |
| 11/23/2021 11/23/21 | Pending | -- | -- | -- |
| 10/01/2021 10/01/21 | Price Changed | $5,895,000 | -1.3% | $511 / Sq Ft |
| 08/09/2021 08/09/21 | Price Changed | $5,975,000 | -1.2% | $518 / Sq Ft |
| 05/21/2021 05/21/21 | For Sale | $6,050,000 | -- | $524 / Sq Ft |
Source: Pasadena-Foothills Association of REALTORS®
Tax History Compared to Growth
Agents Affiliated with this Home
-
Michael Bell
-
George Yessaie
Buyer's Agent in 2022
George Yessaie
JohnHart Real Estate
(818) 844-2504
1 in this area
3 Total Sales
Map
Source: Pasadena-Foothills Association of REALTORS®
MLS Number: P1-4858
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