1431 Verd Oaks Dr Glendale, CA 91205
Somerset NeighborhoodEstimated Value: $1,341,000 - $1,644,000
4
Beds
4
Baths
2,362
Sq Ft
$630/Sq Ft
Est. Value
About This Home
As of March 2023We are pleased to present the opportunity to acquire 1431 Verd Oaks Drive, a 4-unit multifamily property located in the Somerset neighborhood of Glendale. Built in 1941, the asset has a building square footage of 2,362 square feet and sits on a 7,872 square foot lot zoned for R1R, making this an irreplaceable multifamily asset due to the zoning restrictions. The unit mix consists of four 1bed/ 1bath units along with a basement unit that can be used as a storage unit and laundry room for additional revenue streams. The property also provides four on-site parking spaces in the rear carport along with additional room for surface parking. The asset has been well maintained over the years with three updated units and two new spiral steel staircases that service the back entrance to each unit at the rear of the property. The current rents are under market for the area, allowing an investor to capture approximately 26% in rental upside with annual rental increases (AB1482: 5% + CPI) and additional interior renovations at the time of vacancies. The property has enough space in the rear to also add common area amenities such as a barbeque area and sitting area with a gazebo or pergola. Somerset is an upscale residential neighborhood in Glendale with urban roots whose tree-lined avenues are accompanied by paved sidewalks and distant mountain views. Although the area is mainly residential, its highly populated and lined with apartments, houses, and condos. Located south of Colorado Street and just east of Verdugo Road, 1431 Verd Oaks Drive is in proximity to Somerset's northern boundary, Colorado Street, which offers cafes, casual dining options, and local shops and services. Within a short drive, there is an abundance of shopping, dining, and entertainment options that can be found in Downtown Glendale. Tenants of this property will have ease of access to Downtown Glendale, Atwater Village, Eagle Rock, Highland Park, Pasadena, Los Feliz, and many other nearby neighborhoods and cities. For commuters, the asset is close to the 134, 2, 5 and 210 Freeways allowing tenants ease of access to all parts of Los Angeles and Los Angeles County.
Last Agent to Sell the Property
Marcus & Millichap License #01887505 Listed on: 01/18/2023
Last Buyer's Agent
Silva Shakhgulyan
License #02047275
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $15,509
Year Built
- Built in 1942
Lot Details
- 7,872 Sq Ft Lot
Interior Spaces
- 2,362 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 4 Bedrooms
- 4 Bathrooms
Parking
- 4 Parking Spaces
- Detached Carport Space
Community Details
- 4 Units
Listing and Financial Details
- Assessor Parcel Number 5683-009-020
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Jan 18, 2023
Closed on
Feb 9, 2023
Sold by
Marks-Titina Living Trust
Bought by
Avanesian Ejmin
Seller's Agent
Sevak Keshishian
Marcus & Millichap
Buyer's Agent
Silva Shakhgulyan
List Price
$1,400,000
Sold Price
$1,370,000
Premium/Discount to List
-$30,000
-2.14%
Total Days on Market
18
Views
34
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
$117,196
Avg. Annual Appreciation
3.82%
Original Mortgage
$1,096,000
Outstanding Balance
$1,066,435
Interest Rate
6.12%
Mortgage Type
New Conventional
Estimated Equity
$420,761
Purchase Details
Closed on
Dec 21, 2018
Sold by
Marks Dean Scott
Bought by
Marks Dean Scott and Marks Titina Living Trust
Purchase Details
Closed on
May 5, 2015
Sold by
Titina Phiroze Rumi
Bought by
Marks Dean Scott
Purchase Details
Closed on
Feb 28, 2015
Sold by
Lim Asuncion A
Bought by
Marks Dean Scott
Purchase Details
Closed on
Feb 28, 2009
Sold by
Lim Rosalina Abrigo
Bought by
Sister Mary Frances Trust
Purchase Details
Closed on
May 24, 2005
Sold by
Marino Frank
Bought by
Lim Rosalina Abrigo
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$720,000
Interest Rate
5.84%
Mortgage Type
Seller Take Back
Purchase Details
Closed on
Dec 7, 2000
Sold by
Lee Jean C
Bought by
Marino Frank
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$182,000
Interest Rate
7.65%
Similar Homes in the area
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Avanesian Ejmin | $1,370,000 | Ticor Title | |
| Marks Dean Scott | -- | None Available | |
| Marks Dean Scott | -- | Title 365 | |
| Marks Dean Scott | $930,000 | Title 365 | |
| Sister Mary Frances Trust | -- | None Available | |
| Lim Rosalina Abrigo | $880,000 | Chicago Title Co | |
| Marino Frank | $280,000 | Old Republic Title Company |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Avanesian Ejmin | $1,096,000 | |
| Previous Owner | Marks Dean Scott | $574,500 | |
| Previous Owner | Marks Dean Scott | $630,000 | |
| Previous Owner | Lim Rosalina Abrigo | $720,000 | |
| Previous Owner | Marino Frank | $175,600 | |
| Previous Owner | Marino Frank | $177,000 | |
| Previous Owner | Marino Frank | $177,300 | |
| Previous Owner | Marino Frank | $182,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 03/22/2023 03/22/23 | Sold | $1,370,000 | -2.1% | $580 / Sq Ft |
| 02/05/2023 02/05/23 | Pending | -- | -- | -- |
| 01/18/2023 01/18/23 | For Sale | $1,400,000 | -- | $593 / Sq Ft |
Source: The MLS
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 |
|---|---|---|---|---|
| 2024 | $15,509 | $1,397,400 | $971,040 | $426,360 |
| 2023 | $11,957 | $1,074,309 | $866,380 | $207,929 |
| 2022 | $11,750 | $1,053,245 | $849,393 | $203,852 |
| 2021 | $11,547 | $1,032,594 | $832,739 | $199,855 |
| 2019 | $11,106 | $1,001,969 | $808,041 | $193,928 |
| 2018 | $10,917 | $982,324 | $792,198 | $190,126 |
| 2016 | $10,419 | $944,182 | $761,437 | $182,745 |
| 2015 | $7,136 | $644,414 | $451,091 | $193,323 |
| 2014 | -- | $631,792 | $442,255 | $189,537 |
Source: Public Records
Agents Affiliated with this Home
-
Sevak Keshishian
Seller's Agent in 2023
Sevak Keshishian
Marcus & Millichap
(818) 212-2700
1 in this area
56 Total Sales
-
S
Buyer's Agent in 2023
Silva Shakhgulyan
Map
Source: The MLS
MLS Number: 23-233627
APN: 5683-009-020
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