NOT LISTED FOR SALE

2310 Montrose Ave Montrose, CA 91020

Sparr Heights Neighborhood

Estimated Value: $2,188,000 - $3,235,000

12 Beds
9 Baths
5,156 Sq Ft
$535/Sq Ft Est. Value

Last Sold March 29, 2023

Last sale price $2,495,000 $484 Per Sq Ft

Est. 10% increase in value since last sale

Current estimated payment $16,926/month

75 Days on Market

Highlights

  • Fireplace
  • Laundry Room
  • Fenced
  • John C. Fremont Elementary School Rated A-
  • Central Heating and Cooling System

About This Home

As of March 2023

A rare opportunity to purchase 5 units multifamily investment property located in prime Montrose location.Built in 1939 front house and 1985 back 4 units, the building has an exceptional unit mix of (1) 2+1 front house, (2) 2+2, (2) 3+2, situated on a +/-8,665 SF of land. The property features spacious and updated units, +/-5,156 SF building size, central A/C and heating, balconies, fireplaces and 10 covered car parking spaces.The property is in pristine condition and has a great curb appeal, separate gas and electric meters and copper plumbing.It's located in a much desired prime rental location, walking distance to Old Town Montrose Village attractions. View attached marketing brochure.

Last Agent to Sell the Property

Vince Kalachian

Keller Williams Realty License #01172350 Listed on: 01/13/2023

Keller Williams Realty

Co-Listed By

Melina Kalachian, CCIM

Keller Williams Realty License #01877904

Last Buyer's Agent

Hovik Avanessian

Re/Max Optima License #00994852

Re/Max Optima

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $29,112

Year Built

  • Built in 1985

Lot Details

  • 8,665 Sq Ft Lot
  • Two or More Common Walls
  • Fenced
  • No Sprinklers

Parking

  • 10 Car Garage
  • Parking Available

Home Design

  • Property Attached

Interior Spaces

  • 5,156 Sq Ft Home
  • Fireplace
  • Laundry Room

Bedrooms and Bathrooms

  • 12 Bedrooms
  • 9 Bathrooms

Utilities

  • Central Heating and Cooling System

Listing and Financial Details

  • Tax Lot 059
  • Assessor Parcel Number 5807006059

Community Details

Building Details

  • Rent Control
  • 6 Separate Electric Meters
  • 6 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $960
  • Insurance Expense $2,047
  • Maintenance Expense $1,800
  • Trash Expense $2,880
  • Water Sewer Expense $3,776
  • New Taxes Expense $29,940
  • Operating Expense $41,403
  • Gross Income $153,096
  • Net Operating Income $108,681

Additional Features

  • 5 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$29,112

Year Built

Built in 1985

Lot Details

0

Parking

10

Listing Details

  • Assessments: No
  • CapRate: 4.40
  • Property Attached: Yes
  • View: No
  • Water Sewer Expenses: 3776.00
  • Property Type: Residential Income
  • Gardener Expense: 960.00
  • Parcel Number: 5807006059
  • Year Built: 1985
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: Yes
  • Common Walls: 2+ Common Walls
  • Appliances: No
  • Price Per Square Foot: 483.90

Exterior Features

  • Fence: Yes
  • Pool Private: No
  • Spa: No

Garage/Parking

  • Garage Spaces: 10.00
  • Parking: Yes
  • Parking Features: Covered
  • Total Parking Spaces: 10.00

Utilities

  • Sprinklers: No
  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Central
  • Laundry Features: Common Area
  • Trash Expense: 2880.00
  • Cooling: Central Air
  • Cooling: Yes

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Sidewalks

Lot Info

  • Land Lease: No
  • Lot Features: Sprinklers None
  • Lot Size Sq Ft: 8665.00
  • Lot Size Acres: 0.1989

Multi Family

  • Gross Income: 153096.00
  • Gross Multiplier: 16.30
  • Gross Operating Income: 150084.00
  • Gross Scheduled Income: 150576.00
  • Insurance Expense: 2047.00
  • Laundry Equipment Own Lease: Own
  • Laundry Income: 2520.00
  • Lot Size Area: 8665.0000 Square Feet
  • Maintenance Expense: 1800.00
  • Net Operating Income: 108681.00
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 5
  • Operating Expense: 41403.00
  • Operating Expense Percent: 27.60
  • Rent Control: Yes
  • Total Expenses: 41403.00

Tax Info

  • New Taxes Expense: 29940.00
  • Tax Lot: 059

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 24, 2020
Closed on
Aug 19, 2020
Sold by
Ong Sylvia and The Sylvia Ong 2007 Trust
Bought by
Premier Group 20 Llc
Seller's Agent
Filip Niculete
Marcus & Millichap
Buyer's Agent
David Nalbandyan
List Price
$2,100,000
Sold Price
$1,850,000
Premium/Discount to List
-$250,000
-11.9%
Current Estimated Value
$2,756,567

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$906,567
Avg. Annual Appreciation
8.05%
Original Mortgage
$1,387,500
Outstanding Balance
$1,228,037
Interest Rate
3%
Mortgage Type
Commercial
Estimated Equity
$1,528,530

Purchase Details

Closed on
Feb 12, 2007
Sold by
Ong Sylvia
Bought by
Ong Sylvia and Sylvia Ong 2007 Trust

Purchase Details

Closed on
Feb 17, 2005
Sold by
Ong Sylvia and Swie Ha Ong Trust
Bought by
Schroeder Peter and Ong Sylvia

Purchase Details

Closed on
Apr 15, 2003
Sold by
Hampton Wade and Hampton Nancy A
Bought by
Schroeder Peter and Ong Sylvia

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$2,000,000
Interest Rate
5.72%
Mortgage Type
Commercial

Purchase Details

Closed on
Feb 24, 2003
Sold by
Hampton Wade and Hampton Nancy A
Bought by
Hampton Wade and Hampton Nancy A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$2,000,000
Interest Rate
5.72%
Mortgage Type
Commercial

Purchase Details

Closed on
Sep 15, 1999
Sold by
Hampton Wade and Hampton Nancy A
Bought by
Hampton Wade and Hampton Nancy A
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
Premier Group 20 Llc $1,850,000 Lawyers Title Company
Ong Sylvia -- None Available
Schroeder Peter -- None Available
Schroeder Peter -- --
Schroeder Peter $825,000 Chicago Title Co
Hampton Wade -- Chicago
Hampton Wade -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Premier Group 20 Llc $1,387,500
Previous Owner Schroeder Peter $2,000,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
03/29/2023 03/29/23 Sold $2,495,000 0.0% $484 / Sq Ft
01/13/2023 01/13/23 For Sale $2,495,000 0.0% $484 / Sq Ft
01/06/2021 01/06/21 Rented $2,295 0.0% --
12/15/2020 12/15/20 Price Changed $2,295 -4.4% $2 / Sq Ft
10/28/2020 10/28/20 For Rent $2,400 0.0% --
10/27/2020 10/27/20 Off Market $2,400 -- --
09/08/2020 09/08/20 Price Changed $2,400 0.0% $2 / Sq Ft
09/03/2020 09/03/20 Sold $1,850,000 0.0% $359 / Sq Ft View Prior Sale
08/31/2020 08/31/20 For Rent $2,695 0.0% --
05/15/2020 05/15/20 Pending -- -- --
05/04/2020 05/04/20 Price Changed $1,950,000 -7.1% $378 / Sq Ft
03/24/2020 03/24/20 For Sale $2,100,000 -- $407 / Sq Ft
Source: Pasadena-Foothills Association of REALTORS®

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 $29,112 $2,595,798 $1,342,116 $1,253,682
2024 $29,112 $2,544,900 $1,315,800 $1,229,100
2023 $26,853 $2,346,000 $1,734,000 $612,000
2022 $26,079 $2,300,000 $1,700,000 $600,000
2021 $21,227 $1,850,000 $1,000,000 $850,000
2020 $14,996 $1,282,325 $1,012,717 $269,608
2019 $14,647 $1,257,182 $992,860 $264,322
2018 $14,340 $1,232,533 $973,393 $259,140
2016 $13,629 $1,184,674 $935,596 $249,078
2015 $13,353 $1,166,880 $921,543 $245,337
2014 $13,255 $1,144,024 $903,492 $240,532
Source: Public Records

Agents Affiliated with this Home

  • Vince Kalachian

    Seller's Agent in 2023

    Vince Kalachian

    Keller Williams Realty

    (818) 631-8855

    1 in this area

    14 Total Sales

    Vince Kalachian
    Section Image
  • Melina Kalachian, CCIM

    Seller Co-Listing Agent in 2023

    Melina Kalachian, CCIM

    Keller Williams Realty

    (818) 522-1900

    1 in this area

    14 Total Sales

    Melina Kalachian, CCIM
    Section Image
  • Hovik Avanessian

    Buyer's Agent in 2023

    Hovik Avanessian

    RE/MAX

    (818) 259-4300

    2 in this area

    6 Total Sales

    Hovik Avanessian
    Section Image

  • T

    Seller's Agent in 2021

    Tigran Bakalyan

    LA Premier Realty

    (855) 525-7653

    26 Total Sales

    Tigran Bakalyan
    Section Image
  • Filip Niculete

    Seller's Agent in 2020

    Filip Niculete

    Marcus & Millichap

    (818) 357-9525

    100 Total Sales

    Filip Niculete
    Section Image

  • D

    Buyer's Agent in 2020

    David Nalbandyan

See All Agents

Map

Source: Pasadena-Foothills Association of REALTORS®

MLS Number: P1-12350

Pasadena-Foothills Association of REALTORS®

APN: 5807-006-059

California Los Angeles County Montrose 91020 Sparr Heights

2310 Montrose Ave, Montrose, CA

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