NOT LISTED FOR SALE

2631 Glendale Blvd Los Angeles, CA 90039

Estimated Value: $1,661,697 - $2,365,000

16 Beds
8 Baths
6,980 Sq Ft
$280/Sq Ft Est. Value

Last Sold June 07, 2023

Last sale price $2,350,000 $337 Per Sq Ft

Est. 18% decrease in value since last sale

Current estimated payment $12,215/month

287 Days on Market

Highlights

  • Wood Flooring
  • Ivanhoe Elementary Rated A-
  • Shed

About This Home

As of June 2023

The sale includes the adjacent fourplex located at 2637 Glendale Blvd. 2631 Glendale Blvd (APN: 5439-009-003) and 2637 Glendale Blvd (APN: 5439-009-004) are two side-by-side fourplexes in Silver Lake being offered for sale together as one transaction. The offering provides investors a unique opportunity to acquire eight units in a premier Los Angeles rental market with meaningful long-term capital appreciation. 2631 and 2637 Glendale Blvd are ideally located in Silver Lake and walkable to many neighborhood hotspots. It features an ideal unit composition of eight large Two (2) Two-Bedroom | One-Bathroom units. The units are large in size and average nearly 900 square feet each. The units offer many original details featured in 1940s construction such as original hardwood floors, ample windows, many original built-ins, and a separate room for an in-unit washer/dryer. As a bonus, there are currently two vacant units allowing the next owner to optimize and rent for market value. Units are accessed through a quiet, open-air courtyard; each unit features front and rear access and exit. In all, 2631 and 2637 Glendale Blvd feature 6,980 SF of improvements on a collective 14,818 square feet of land, zoned LAR2. The property is fully parked with a total of 8 parking spaces. Gas and electrical utilities are separately metered.

Last Agent to Sell the Property

Nick Astrupgaard

KW Commercial Studio City License #01893466 Listed on: 08/23/2022

KW Commercial Studio City

Co-Listed By

Rich Johns

KW Commercial Studio City License #01432215

Last Buyer's Agent

Nick Astrupgaard

KW Commercial Studio City License #01893466 Listed on: 08/23/2022

KW Commercial Studio City

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $20,368

Year Built

  • Built in 1947

Lot Details

  • 0.34

Interior Spaces

  • 6,980 Sq Ft Home
  • 2-Story Property
  • Wood Flooring

Bedrooms and Bathrooms

  • 16 Bedrooms
  • 8 Bathrooms

Parking

  • 8 Parking Spaces
  • Carport

Utilities

  • Cooling System Mounted To A Wall/Window
  • Heating System Mounted To A Wall or Window

Additional Features

  • Shed
  • 14,818 Sq Ft Lot

Listing and Financial Details

  • Assessor Parcel Number 5439-009-003

Community Details

Overview

  • 2 Buildings
  • 8 Units

Building Details

  • Rent Control

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$20,368

Year Built

Built in 1947

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 6980
  • Lot Acreage: 0.1629
  • Stories: 2
  • Year Built: 1947
  • Number Of Photos: 7
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Hardwood
  • Bedrooms: 16
  • Total Bathrooms: 8.00
  • Price Per S Q F T: 436.96

Exterior Features

  • Other Structures: Shed(s)

Garage/Parking

  • Parking Garage: Carport
  • Total Parking: 8

Utilities

  • Cooling: Wall/Window
  • Heating: Wall

Lot Info

  • Assessed Improvement Percent: 32.10
  • Assessed Improvement Value: 93778
  • Assessed Land Percent: 67.9
  • Assessed Land Value: 198391
  • Total Assessed Value: 292169
  • Assessor Parcel Number: 5439-009-003
  • Lot Size Area: 14818

Rental Info

  • Rent Control: Yes

Multi Family

  • Unit Type: 2106
  • Gross Rent Multiplier: 16.80
  • Number Of Units: 8
  • Total Annual Expense: 56232
  • Type Of Units: Apartments
  • Vacancy Rate: 25%

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Aug 23, 2022
Closed on
May 22, 2023
Sold by
Richard Phillip Bradley Trust
Bought by
Solomon Ventures Llc
Seller's Agent
Nick Astrupgaard
KW Commercial Studio City
Buyer's Agent
Nick Astrupgaard
KW Commercial Studio City
List Price
$3,050,000
Sold Price
$2,350,000
Premium/Discount to List
-$700,000
-22.95%
Views
40
Current Estimated Value
$1,921,176

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$428,824
Avg. Annual Appreciation
-8.18%
Original Mortgage
$1,500,000
Outstanding Balance
$1,461,480
Interest Rate
6.39%
Mortgage Type
New Conventional
Estimated Equity
$489,444

Purchase Details

Closed on
Dec 23, 2020
Sold by
Bradley Richard
Bought by
Bradley Richard Phillip
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
Solomon Ventures Llc $2,350,000 Lawyers Title Company
Bradley Richard Phillip -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Solomon Ventures Llc $1,500,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/07/2023 06/07/23 Sold $2,350,000 -23.0% $337 / Sq Ft
06/06/2023 06/06/23 Pending -- -- --
08/23/2022 08/23/22 For Sale $3,050,000 -- $437 / 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 $20,368 $1,683,000 $1,275,000 $408,000
2024 $20,368 $1,650,000 $1,250,000 $400,000
2023 $4,219 $303,971 $206,405 $97,566
2022 $4,038 $298,011 $202,358 $95,653
2021 $3,972 $292,169 $198,391 $93,778
2020 $4,004 $289,174 $196,357 $92,817
2019 $3,863 $283,505 $192,507 $90,998
2018 $3,766 $277,947 $188,733 $89,214
2016 $3,570 $267,155 $181,405 $85,750
2015 $3,522 $263,143 $178,681 $84,462
2014 $3,561 $257,989 $175,181 $82,808
Source: Public Records

Agents Affiliated with this Home

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Map

Source: The MLS

MLS Number: 22-192663

The MLS

APN: 5439-009-003