NOT LISTED FOR SALE

2535 Cross St La Crescenta-Montrose, CA 91214

3 Beds
3 Baths
6,898 Sq Ft
0.25 Acres

Last Sold November 09, 2018

Last sale price $2,500,000 $362 Per Sq Ft

8 Days on Market

Highlights

  • No HOA
  • Laundry Room
  • Level Lot
  • Mountain Avenue Elementary School Rated A

About This Home

As of November 2018

The Cross Apartments represent an exceptional opportunity to acquire a 10-unit apartment building in the city of La Crescenta, California. This investment is comprised of 2 Studio apartments, 6 One-Bed / One-Bath units, and 2 Two-Bed / One-Bath units. Cross Street Apartments feature tremendous upside potential and benefit from a convenient, central location, only steps away from various shopping and dining options.

Do not go on Property. Tenants do not know property is for sale.

PROPERTY IS LOCATED IN UNINCORPORATED COUNTY OF LOS ANGELES. RENT CONTROL ORDINANCE IN EFFECT.

Last Agent to Sell the Property

Kevin Lutz

Keller Williams Realty/Pasadena License #00925595 Listed on: 10/22/2018

Keller Williams Realty/Pasadena

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1950

Lot Details

  • 0.25 Acre Lot
  • Two or More Common Walls
  • Level Lot

Parking

  • 6 Car Garage

Home Design

  • Property Attached

Interior Spaces

  • 6,898 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 3 Bathrooms

Listing and Financial Details

  • Tax Lot 5
  • Tax Tract Number 5111
  • Assessor Parcel Number 5804003017

Community Details

Overview

  • No Home Owners Association
  • 3 Buildings
  • 10 Units

Amenities

  • Laundry Facilities

Building Details

  • Rent Control
  • 10 Separate Electric Meters
  • 10 Separate Gas Meters
  • 10 Separate Water Meters
  • Gardener Expense $2,400
  • Insurance Expense $5,321
  • Other Expense $1,514
  • Trash Expense $6,156
  • Water Sewer Expense $6,155
  • New Taxes Expense $27,160
  • Operating Expense $56,662
  • Gross Income $1,200
  • Net Operating Income $51,008

Property Details

Home Type

Multi-Family

Year Built

Built in 1950

Lot Details

0

Parking

6

Listing Details

  • CapRate: 2.04
  • Property Attached: Yes
  • Water Sewer Expenses: 6155.00
  • Zoning: LCR3YY
  • Property Type: Residential Income
  • Gardener Expense: 2400.00
  • Parcel Number: 5804003017
  • Year Built: 1950
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 362.42

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 6.00
  • Total Parking Spaces: 6.00

Utilities

  • Laundry: Yes
  • Laundry Features: Community
  • Sewer: Public Sewer
  • Trash Expense: 6156.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Level with Street
  • Lot Size Sq Ft: 11089.00

Multi Family

  • Average1 Bed Area: 575 Square Feet
  • Average2 Bed Area: 900 Square Feet
  • Average Studio Area: 400 Square Feet
  • Gross Income: 1200.00
  • Gross Multiplier: 22.52
  • Gross Scheduled Income: 109800.00
  • Insurance Expense: 5321.00
  • Laundry Income: 1200.00
  • Maintenance Percent: 7.00
  • Net Operating Income: 51008.00
  • Number Of Separate Electric Meters: 10
  • Number Of Separate Gas Meters: 10
  • Number Of Separate Water Meters: 10
  • Number Of Units Total: 10
  • Operating Expense: 56662.00
  • Other Expense: 1514.00
  • Other Expense Description: DA
  • Rent Control: Yes
  • Total Expenses: 56662.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 27160.00
  • Tax Census Tract: 3002.00
  • Tax Lot: 5
  • Tax Tract Number: 5111

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
11/09/2018 11/09/18 Sold $2,500,000 0.0% $362 / Sq Ft
10/22/2018 10/22/18 For Sale $2,500,000 -- $362 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Kevin Lutz

    Seller's Agent in 2018

    Kevin Lutz

    Keller Williams Realty/Pasadena

    (626) 429-0685

    22 Total Sales

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: WS18256987

California Regional Multiple Listing Service (CRMLS)

California Los Angeles County La Crescenta-Montrose 91214

2535 Cross St, La Crescenta-Montrose, CA

This home is located at 2535 Cross St, La Crescenta-Montrose, CA 91214 since 22 October 2018. This property was built in 1950. 2535 Cross St is a home located in Los Angeles County with nearby schools including Mountain Avenue Elementary School, Rosemont Middle School, and Crescenta Valley High School.

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.

California Regional Multiple Listing Service (CRMLS) 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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