NOT LISTED FOR SALE

Estimated Value: $1,368,000 - $1,865,000

6 Beds
4 Baths
2,582 Sq Ft
$627/Sq Ft Est. Value

Last Sold April 13, 2022

Last sale price $1,506,000 $583 Per Sq Ft

Est. 8% increase in value since last sale

Current estimated payment $10,078/month

9 Days on Market

Highlights

  • Laundry Room
  • Level Lot
  • 5-minute walk to Vickroy Park
  • Thomas Edison Elementary School Rated A
  • Front Yard

About This Home

As of April 2022

The property is located in a prime area of Burbank with convenient access to freeways, entertainment, shopping & employers in the entertainment district.

The improvements consist of a two-story building and a one-story building on a 5,812 square foot parcel. The property is well maintained and in good condition. Building one is 1,064 square feet and has two 1 bedroom units. Building two is 1,518 square feet and has two 2 bedroom units.

There is significant upside in rental income on all units are the rents are below market. AB 1482 allows rent increases of 5% + CPI annually. Proforma rents are projected 8.6% above current.

Last Agent to Sell the Property

David Moyers

Estate Properties License #00452112 Listed on: 02/28/2022

Co-Listed By

Stephen Lampe

Re/Max Commercial & Investment License #01164364

Last Buyer's Agent

David Moyers

Estate Properties License #00452112 Listed on: 02/28/2022

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $17,412

Year Built

  • Built in 1951

Lot Details

  • 5,812 Sq Ft Lot
  • Two or More Common Walls
  • Level Lot
  • Front Yard

Parking

  • 3 Car Garage

Home Design

  • 2,582 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 4 Bathrooms

Additional Features

  • Laundry Room
  • Exterior Lighting

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 147
  • Tax Tract Number 7451
  • Assessor Parcel Number 2438018026
  • $356 per year additional tax assessments

Community Details

Overview

  • 2 Buildings
  • 4 Units

Amenities

  • Laundry Facilities

Building Details

  • 4 Leased Units
  • Rent Control
  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $900
  • Fuel Expense $587
  • Insurance Expense $1,900
  • Maintenance Expense $2,800
  • Other Expense $1,600
  • Trash Expense $443
  • Water Sewer Expense $1,077
  • New Taxes Expense $17,400
  • Operating Expense $26,707
  • Gross Income $71,400
  • Net Operating Income $44,963

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$17,412

Year Built

Built in 1951

Lot Details

0

Parking

3

Listing Details

  • CapRate: 3.08
  • Price Per Unit: 362500
  • Property Attached: Yes
  • Water Sewer Expenses: 1077.00
  • Zoning: BUR4*
  • Property Type: Residential Income
  • Parcel Number: 2438018026
  • Year Built: 1951
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 583.27

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 3.00
  • Total Parking Spaces: 3.00

Utilities

  • Laundry: Yes
  • Laundry Features: Common Area, Individual Room
  • Sewer: Public Sewer
  • Trash Expense: 443.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Curbs, Sidewalks, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Front Yard, Level
  • Lot Size Sq Ft: 5812.00
  • Lot Size Acres: 0.1334

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Average1 Bed Area: 532 Square Feet
  • Average2 Bed Area: 759 Square Feet
  • Electric Expense: 900.00
  • Fuel Expense: 587.00
  • Gross Income: 71400.00
  • Gross Multiplier: 20.31
  • Gross Operating Income: 71400.00
  • Gross Scheduled Income: 70800.00
  • Insurance Expense: 1900.00
  • Laundry Income: 600.00
  • Lot Size Area: 5812.0000 Square Feet
  • Maintenance Expense: 2800.00
  • Net Operating Income: 44963.00
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 4
  • Number Of Units Total: 4
  • Number With Disposal: 4
  • Number With Range: 4
  • Operating Expense: 26707.00
  • Other Expense: 1600.00
  • Other Expense Description: Reserves
  • Rent Control: Yes
  • Total Actual Rent: 5900.00
  • Total Expenses: 26707.00

Tax Info

  • New Taxes Expense: 17400.00
  • Tax Census Tract: 3109.00
  • Tax Lot: 147
  • Tax Tract Number: 7451
  • TaxOtherAnnualAssessmentAmount: 356.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jul 17, 2022
Sold by
Javier Vasquez Luis
Bought by
Plata-Renteria Maricela
Current Estimated Value
$1,619,140

Purchase Details

Listed on
Feb 28, 2022
Closed on
Apr 4, 2022
Sold by
Walker Family Trust
Bought by
Vasquez Luis Javier and Vasquez Maricela Plata-Renteria
Seller's Agent
David Moyers
Estate Properties
Buyer's Agent
David Moyers
Estate Properties
List Price
$1,450,000
Sold Price
$1,506,000
Premium/Discount to List
$56,000
3.86%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
2.31%
Original Mortgage
$1,050,000
Interest Rate
3.85%
Mortgage Type
New Conventional

Purchase Details

Closed on
Dec 18, 2020
Sold by
Walker Susan M and The Susan M Walker 2014 Revoca
Bought by
Larson Shawna Susan and The Walker Family Trust

Purchase Details

Closed on
Jul 9, 2014
Sold by
Walker Susan M and Walker Family Trust
Bought by
Walker Susan M and The Susan M Walker 2014 Revocable Trust

Purchase Details

Closed on
Oct 8, 2010
Sold by
Walker Richard A and Walker Susan M
Bought by
Walker Richard A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$229,000
Interest Rate
4.26%
Mortgage Type
New Conventional

Purchase Details

Closed on
Aug 10, 2005
Sold by
Walker Richard A and Walker Susan M
Bought by
Walker Richard A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$241,000
Interest Rate
5.56%
Mortgage Type
New Conventional
Source: Public Records

Range of Values:

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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
Plata-Renteria Maricela -- None Listed On Document
Vasquez Luis Javier $1,506,000 None Listed On Document
Larson Shawna Susan -- None Available
Walker Susan M -- None Available
Walker Richard A -- Accommodation
Walker Richard A -- Fidelity National Title Co
Walker Richard A -- --
Walker Richard A -- Fidelity National Title Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Vasquez Luis Javier $1,050,000
Previous Owner Vasquez Luis Javier $1,050,000
Previous Owner Walker Richard A $229,000
Previous Owner Walker Richard A $241,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/13/2022 04/13/22 Sold $1,506,000 +3.9% $583 / Sq Ft
02/28/2022 02/28/22 For Sale $1,450,000 -- $562 / 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 $17,412 $1,582,510 $898,905 $683,605
2024 $17,412 $1,551,481 $881,280 $670,201
2023 $17,227 $1,521,060 $864,000 $657,060
2022 $14,446 $1,305,600 $785,400 $520,200
2021 $4,056 $337,453 $321,794 $15,659
2020 $4,011 $333,994 $318,495 $15,499
2019 $3,899 $327,446 $312,250 $15,196
2018 $3,775 $321,027 $306,128 $14,899
2016 $3,564 $308,563 $294,242 $14,321
2015 $3,495 $303,929 $289,823 $14,106
2014 $3,510 $297,976 $284,146 $13,830
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PV22037684

California Regional Multiple Listing Service (CRMLS)

APN: 2438-018-026