Seller's Agent in 2024
Harry Khayalian
Lucent Properties
(626) 390-2544
1 in this area
17 Total Sales
2359 E Villa St Pasadena, CA 91107
Casa Grande NeighborhoodEstimated Value: $1,383,000 - $1,427,000
4
Beds
4
Baths
2,486
Sq Ft
$564/Sq Ft
Est. Value
About This Home
As of December 20242359-2365 East Villa Street presents a unique opportunity for rental income with exciting development potential. The property sits on a 13,500 sq. ft. lot (100 ft. wide x 135 ft. deep) and includes two duplexes (1,264 sq. ft. each), a 700 sq. ft. garage, and a bonus utility/storage room, along with expansive open space for future enhancements.
There is the potential for a lot split, providing an investor with a variety of development options, such as remodeling the existing duplexes, creating new single-family homes, or starting fresh with new construction. Additional possibilities include adding ADUs or converting the garage into living space.
All development options, including lot splits, new home sites, and ADU conversions, will require city approval. With the right approach, this property offers the potential for a highly rewarding investment, allowing for rental income during the planning phase.
Last Agent to Sell the Property
Lucent Properties Brokerage Phone: 626-390-2544 License #01237831 Listed on: 09/19/2024
Last Buyer's Agent
Lucent Properties Brokerage Phone: 626-390-2544 License #01237831 Listed on: 09/19/2024
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1941
Lot Details
- 0.31 Acre Lot
- 1 Common Wall
- Density is 2-5 Units/Acre
Parking
- 4 Car Garage
Home Design
- Quadruplex
- Entry on the 1st floor
Interior Spaces
- 2,486 Sq Ft Home
- 1-Story Property
Bedrooms and Bathrooms
- 4 Bedrooms
- 4 Bathrooms
Outdoor Features
- Exterior Lighting
Location
- Urban Location
- Suburban Location
Listing and Financial Details
- Legal Lot and Block 9 / B
- Tax Tract Number 8825
- Assessor Parcel Number 5744020008
- $1,188 per year additional tax assessments
Community Details
Overview
- 2 Buildings
- 4 Units
Building Details
- Rent Control
- 4 Separate Electric Meters
- 4 Separate Gas Meters
- 1 Separate Water Meter
- Gardener Expense $1,200
- Insurance Expense $1,990
- Operating Expense $2,193
- Gross Income $77,280
- Net Operating Income $75,087
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Sep 19, 2024
Closed on
Dec 5, 2024
Sold by
Marganian Joe Hovsep and Marganian Susan
Bought by
Villa Martelo Llc
Seller's Agent
Harry Khayalian
Lucent Properties
Buyer's Agent
Harry Khayalian
Lucent Properties
List Price
$1,549,000
Sold Price
$1,350,000
Premium/Discount to List
-$199,000
-12.85%
Views
41
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
$53,277
Avg. Annual Appreciation
3.95%
Original Mortgage
$1,050,000
Outstanding Balance
$1,041,742
Interest Rate
6.79%
Mortgage Type
New Conventional
Estimated Equity
$361,535
Purchase Details
Closed on
Dec 16, 2015
Sold by
Marganian Joe H and Marganian Susan
Bought by
Joe Hovsep Marganian and Joe Susan Marganian
Create a Home Valuation Report for This Property
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Villa Martelo Llc | $1,350,000 | Chicago Title Company | |
| Villa Martelo Llc | $1,350,000 | Chicago Title Company | |
| Joe Hovsep Marganian | -- | None Available |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Villa Martelo Llc | $1,050,000 | |
| Closed | Villa Martelo Llc | $1,050,000 |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 12/24/2024 12/24/24 | Sold | $1,350,000 | -6.8% | $543 / Sq Ft |
| 11/22/2024 11/22/24 | Pending | -- | -- | -- |
| 10/17/2024 10/17/24 | Price Changed | $1,449,000 | -6.5% | $583 / Sq Ft |
| 09/19/2024 09/19/24 | For Sale | $1,549,000 | -- | $623 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
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 |
|---|---|---|---|---|
| 2025 | $4,419 | $1,350,000 | $950,000 | $400,000 |
| 2024 | $4,419 | $293,862 | $88,150 | $205,712 |
| 2023 | $4,379 | $288,101 | $86,422 | $201,679 |
| 2022 | $4,246 | $282,453 | $84,728 | $197,725 |
| 2021 | $4,081 | $276,916 | $83,067 | $193,849 |
| 2019 | $3,954 | $268,704 | $80,604 | $188,100 |
| 2018 | $3,842 | $263,436 | $79,024 | $184,412 |
| 2016 | $3,683 | $253,208 | $75,956 | $177,252 |
| 2015 | $3,639 | $249,406 | $74,816 | $174,590 |
| 2014 | $3,602 | $244,522 | $73,351 | $171,171 |
Source: Public Records
Agents Affiliated with this Home
-
Harry Khayalian
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PF24160855
APN: 5744-020-008
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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