NOT LISTED FOR SALE

1243 Stanley Ave Glendale, CA 91206

Citrus Grove Neighborhood
5 Beds
5 Baths
27,000 Sq Ft
24,652 Sq Ft Lot

Last Sold March 24, 2016

Last sale price $10,475,000 $388 Per Sq Ft

73 Days on Market

Highlights

  • 24,652 Sq Ft lot
  • Laundry Room
  • 5-minute walk to Wilson Mini Park
  • Subterranean Parking
  • Central Heating and Cooling System

About This Home

As of March 2016

This sprawling Spanish Villa style property is comprised of 33 Apartment Homes. This immaculately maintained trophy asset is located in the coveted Southern California community of Glendale. Flanked by lush landscaping, it exemplifies a sense of serenity and privacy within the access controlled campus like setting. This non rent controlled property was constructed by the seller in 1986 and features an excellent unit mix: 12 - 1 Bedroom + 1 Bathroom units, 18 - 2 Bedroom + 2 Bathroom units, and 3 - 2 Bedroom + 2 Bathroom Town home units. Rents are approximately 20% below market, which could provide investors with a significant re-positioning opportunity. Pro forma cap rate is 4.62% and Pro forma GRM is 14.27. Please drive by only. Do not walk on the property grounds, or disturb tenants. We are showing this asset with an accepted offer only. All submitted offers should be accompanied by proof of funds.

Last Agent to Sell the Property

Kristy Elaine

Redfin License #01948906 Listed on: 10/26/2015

Redfin

Co-Listed By

Larry Cannizzaro

Lawrence Frank Cannizzaro License #00609154

Last Buyer's Agent

Kristy Elaine

Redfin License #01948906 Listed on: 10/26/2015

Redfin

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1986

Lot Details

  • 0.57

Interior Spaces

  • 27,000 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Parking

  • 55 Parking Spaces
  • Subterranean Parking

Additional Features

  • 24,652 Sq Ft Lot
  • Central Heating and Cooling System

Community Details

  • 33 Units

Listing and Financial Details

  • Assessor Parcel Number 5645-003-080

Property Details

Home Type

Multi-Family

Year Built

Built in 1986

Lot Details

0.57 Acres

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Additional Assessor Parcel Numbers: No
  • Living Area: 27000
  • Stories: 2
  • Year Built: 1986
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Laundry: Laundry Area
  • Price Per S Q F T: 391.11

Exterior Features

  • Tennis Court Y/N: No
  • Construction: Frame and Stucco
  • Pool: No
  • View: No

Garage/Parking

  • Parking Garage: Subterranean
  • Total Parking: 55

Utilities

  • Cooling: Central
  • Heating: Central

Lot Info

  • Assessed Improvement Value: 3050860
  • Assessed Land Value: 859979
  • Assessor Parcel Number: 5645-003-080
  • Geocode Override: No
  • Lot Size Area: 24652

Multi Family

  • Unit Type: 2106, 2107, 2108
  • Gross Rent Multiplier: 17.39
  • Number Of Units: 33
  • Rent Control: 0
  • Type Of Units: Apartments
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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
03/24/2016 03/24/16 Sold $10,475,000 -2.3% $388 / Sq Ft
01/07/2016 01/07/16 Pending -- -- --
10/26/2015 10/26/15 For Sale $10,725,000 -- $397 / Sq Ft
Source: The MLS

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 $135,090 $12,400,274 $4,942,351 $7,457,923
2024 $135,090 $12,157,133 $4,845,443 $7,311,690
2023 $132,015 $11,918,759 $4,750,435 $7,168,324
2022 $129,757 $11,685,059 $4,657,290 $7,027,769
2021 $127,503 $11,455,941 $4,565,971 $6,889,970
2019 $122,626 $11,124,903 $4,430,543 $6,694,360
2018 $120,845 $10,906,940 $4,343,670 $6,563,270
2016 $44,930 $3,970,478 $873,093 $3,097,385
2015 $44,037 $3,910,839 $859,979 $3,050,860
2014 $43,844 $3,834,232 $843,134 $2,991,098
Source: Public Records

Agents Affiliated with this Home

  • K

    Seller's Agent in 2016

    Kristy Elaine

    Redfin

    Section Image

  • L

    Seller Co-Listing Agent in 2016

    Larry Cannizzaro

    Lawrence Frank Cannizzaro

    (310) 963-4870

    3 Total Sales

    Larry Cannizzaro
    Section Image
See All Agents

Map

Source: The MLS

MLS Number: 15-953885

The MLS
California Los Angeles County Glendale 91206 Citrus Grove

1243 Stanley Ave, Glendale, CA

Not Listed for Sale

MultiFamily

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