NOT LISTED FOR SALE

Estimated Value: $2,061,000 - $2,450,000

8 Beds
4 Baths
4,508 Sq Ft
$509/Sq Ft Est. Value

Last Sold January 24, 2024

Last sale price $2,220,000 $492 Per Sq Ft

Est. 3% increase in value since last sale

Current estimated payment $12,735/month

44 Days on Market

Highlights

  • Wood Flooring
  • 5 Car Garage
  • Central Heating and Cooling System
  • Verdugo Woodlands Elementary School Rated A-

About This Home

As of January 2024

We are pleased to present for sale an amazing Spanish-style 4-unit rental property in prestigious Northern Glendale. Located in close proximity to Montrose and La Canada Flintridge, this pride of ownership property offers a timeless blend of vintage charm and modern comfort. Each of the generously sized 2-bedroom + 1 bathroom units features abundant natural light, gleaming hardwood floors, and updated kitchens and bathrooms. Enjoy the convenience of in-unit washer/dryer hookups and year-round comfort with central HVAC. Some units have covered porch areas as an extension of the living space, while the property's mature, drought-friendly landscaping adds to its curb appeal. The architectural beauty with its detailed design, metalworks and archways makes this piece of real estate truly unique amongst investment properties. Adding to its classic and timeless look the building boasts an updated main electrical system, copper plumbing, as well as being meticulously maintained. Two driveways lead to the rear of the property where an additional structure offers enclosed garages that can fit 5 cars. Buyer to investigate the potential for an ADU conversion. One unit is currently vacant, making this a great owner-user opportunity or rent out at top market rent. Properties like this rarely trade, so don't miss the opportunity to acquire this real estate gem. The rent of $2900 is a projected, market rent on the vacant unit #1762. Please respect the tenants and their privacy and do not drive on driveways or walk to the rear of the property.

Last Agent to Sell the Property

Alexander Metaxas

Realty Investment Advisors, Inc. License #01784652 Listed on: 11/03/2023

Last Buyer's Agent

Alexander Metaxas

Realty Investment Advisors, Inc. License #01784652 Listed on: 11/03/2023

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $7,431

Year Built

  • Built in 1940

Lot Details

  • 9,982

Parking

  • 5 Car Garage

Interior Spaces

  • 4,508 Sq Ft Home
  • 2-Story Property
  • Wood Flooring
  • Oven or Range

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 4 Bathrooms

Laundry

  • Laundry in unit
  • Dryer
  • Washer

Additional Features

  • 9,982 Sq Ft Lot
  • Central Heating and Cooling System

Community Details

  • 4 Units

Listing and Financial Details

  • Assessor Parcel Number 5652-018-001

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$7,431

Year Built

Built in 1940

Lot Details

0

Parking

5

Listing Details

  • Property Type: Residential Income
  • Levels: Two
  • Street Number Display: Yes
  • Living Area: 4508
  • Lot Acreage: 0.2292
  • Stories: 2
  • Year Built: 1940
  • Number Of Photos: 1
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Hardwood
  • Bedrooms: 8
  • Laundry: In Unit
  • Total Bathrooms: 4.00
  • Equipment: Dryer, Washer, Refrigerator, Range/Oven
  • Price Per S Q F T: 554.35

Exterior Features

  • Other Structures: Other

Garage/Parking

  • Garage Spaces: 5
  • Parking Garage: Detached, Garage - 4+ Car, Garage Is Detached
  • Total Parking: 5

Utilities

  • Cooling: Central
  • Heating: Central
  • Water Heaters: Yes

Lot Info

  • Assessed Improvement Percent: 21.05
  • Assessed Improvement Value: 130678
  • Assessed Land Percent: 78.95
  • Assessed Land Value: 490097
  • Total Assessed Value: 620775
  • Assessor Parcel Number: 5652-018-001
  • Lot Size Area: 9982

Multi Family

  • Unit Type: 2106
  • Gross Rent Multiplier: 21.46
  • Number Of Units: 4
  • Total Annual Expense: 47304
  • Type Of Units: 2+1
  • Vacancy Rate: 25%

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Nov 3, 2023
Closed on
Jan 30, 2024
Sold by
Keoshgerian Zaven M and Keoshgerian Annette
Bought by
Pac Alexander Llc
Seller's Agent
Alexander Metaxas
Realty Investment Advisors, Inc.
Buyer's Agent
Alexander Metaxas
Realty Investment Advisors, Inc.
List Price
$2,499,000
Sold Price
$2,220,000
Premium/Discount to List
-$279,000
-11.16%
Views
49
Current Estimated Value
$2,294,349

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$74,349
Avg. Annual Appreciation
0.93%

Purchase Details

Listed on
Nov 3, 2023
Closed on
Dec 29, 2023
Sold by
2023 Denenholz Crut and Denenholz David
Bought by
Keoshgerian Zaven M and Keoshgerian Annette
Seller's Agent
Alexander Metaxas
Realty Investment Advisors, Inc.
Buyer's Agent
Alexander Metaxas
Realty Investment Advisors, Inc.
List Price
$2,499,000
Sold Price
$2,220,000
Premium/Discount to List
-$279,000
-11.16%
Views
49

Purchase Details

Closed on
Oct 10, 2023
Sold by
Denenholz David A and Denenholz Judy E
Bought by
2023 Denenholz Crut and 2023 Denenholz

Purchase Details

Closed on
Jun 3, 1994
Sold by
Egan Kathleen
Bought by
Denenholz David A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$247,000
Interest Rate
4.62%
Source: Public Records

Range of Values:

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Average Value
Not Available
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
Pac Alexander Llc -- Ticor Title
Keoshgerian Zaven M $2,220,000 Ticor Title
2023 Denenholz Crut -- None Listed On Document
Denenholz David A $380,000 Southland Title Corporation
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Denenholz David A $247,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
01/24/2024 01/24/24 Sold $2,220,000 -11.2% $492 / Sq Ft
12/17/2023 12/17/23 Pending -- -- --
11/03/2023 11/03/23 For Sale $2,499,000 -- $554 / Sq Ft
Source: The MLS

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 $7,431 $2,264,400 $1,642,200 $622,200
2024 $7,431 $633,189 $499,898 $133,291
2023 $7,271 $620,775 $490,097 $130,678
2022 $7,146 $608,604 $480,488 $128,116
2021 $7,005 $596,671 $471,067 $125,604
2019 $6,746 $578,976 $457,096 $121,880
2018 $6,556 $567,625 $448,134 $119,491
2016 $6,219 $545,586 $430,734 $114,852
2015 $6,097 $537,391 $424,264 $113,127
2014 $6,069 $526,865 $415,954 $110,911
Source: Public Records

Agents Affiliated with this Home

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Map

Source: The MLS

MLS Number: 23-328291

The MLS

APN: 5652-018-001