NOT LISTED FOR SALE

2688 Lake Ave Altadena, CA 91001

Estimated Value: $1,166,000 - $1,231,000

10 Beds
5 Baths
4,230 Sq Ft
$283/Sq Ft Est. Value

Last Sold September 17, 2014

Last sale price $1,025,000 $242 Per Sq Ft

Est. 17% increase in value since last sale

Current estimated payment $7,036/month

19 Days on Market

Highlights

  • Valley View
  • No HOA
  • Cooling System Mounted To A Wall/Window
  • Pasadena High School Rated A
  • Beamed Ceilings
  • 3-minute walk to Altadena Triangle Park

About This Home

As of September 2014

Property consists of two parcels including 5844-003-021 and 5844-003-022. Unique 5 unit single story mid century open beam cottages, each unit has private single car garages, patios, fireplaces. Indicated lot size and building area is drawn from assessor information for two parcels. Dependable tenants generating strong gross income with excellent upside potential. Offered "as is".

Last Agent to Sell the Property

Thomas Davis

Coldwell Banker Realty License #00819361 Listed on: 08/20/2014

Coldwell Banker Realty

Last Buyer's Agent

Vazgen Mazanians

Pacific Realty Center License #01162745

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1960

Lot Details

  • 0.35 Acre Lot
  • 1 Common Wall
  • Sprinklers on Timer

Parking

  • 5 Car Garage
  • Parking Available

Home Design

  • Property Attached
  • Asphalt Roof

Interior Spaces

  • 4,230 Sq Ft Home
  • 1-Story Property
  • Beamed Ceilings
  • Living Room with Fireplace
  • Valley Views

Kitchen

  • Free-Standing Range
  • Formica Countertops
  • Disposal

Flooring

  • Carpet
  • Vinyl

Bedrooms and Bathrooms

  • 10 Bedrooms
  • 5 Bathrooms

Laundry

  • Laundry Room
  • Laundry in Garage
  • Washer Hookup

Utilities

  • Cooling System Mounted To A Wall/Window
  • Central Heating
  • Private Water Source

Additional Features

  • Exterior Lighting
  • Suburban Location

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 3
  • Tax Tract Number 6954
  • Assessor Parcel Number 5844003021

Community Details

Overview

  • No Home Owners Association
  • 3 Buildings
  • 5 Units
  • Valley

Building Details

  • 5 Leased Units
  • 6 Separate Electric Meters
  • 5 Separate Gas Meters
  • 2 Separate Water Meters
  • Electric Expense $312
  • Gardener Expense $700
  • Insurance Expense $2,450
  • Maintenance Expense $1,700
  • Professional Management Expense $4,200
  • Trash Expense $2,200
  • Water Sewer Expense $2,100
  • New Taxes Expense $11,225
  • Gross Income $5,939
  • Net Operating Income $40,705

Property Details

Home Type

Multi-Family

Year Built

Built in 1960

Lot Details

0

Parking

5

Listing Details

  • Assessments: Yes
  • CapRate: 4.50
  • Professional Management Expense: 4200.00
  • Property Attached: Yes
  • View: Yes
  • Water Sewer Expenses: 2100.00
  • Zoning: LCR2YY
  • Property Type: Residential Income
  • Gardener Expense: 700.00
  • Parcel Number: 5844003021
  • Year Built: 1960
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: Yes
  • Interior Amenities: Beamed Ceilings, Formica Counters
  • Stories: 1
  • Common Walls: 1 Common Wall
  • Flooring: Carpet, Vinyl
  • Appliances: Yes
  • Fireplace Features: Living Room
  • Levels: One
  • Price Per Square Foot: 242.32
  • Room Type: All Bedrooms Down, Living Room

Exterior Features

  • View: Valley
  • Pool Private: No
  • Roof: Asphalt
  • Spa: No

Garage/Parking

  • Garage Spaces: 5.00
  • Parking: Yes
  • Parking Features: Garage
  • Total Parking Spaces: 10.00

Utilities

  • Utilities: Sewer Connected, Sewer Available
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Free-Standing Range, Disposal
  • Heating Type: Central
  • Laundry Features: In Garage, Washer Hookup
  • Trash Expense: 2200.00
  • Water Source: Private
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Community Features: Curbs, Street Lights, Suburban, Valley

Lot Info

  • Lot Features: Lot 10000-19999 Sqft, Sprinklers Timer
  • Lot Size Sq Ft: 15039.00
  • Lot Size Acres: 0.3450

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Average2 Bed Area: 846
  • Electric Expense: 312.00
  • Gross Income: 5939.00
  • Gross Scheduled Income: 71268.00
  • Gross Spendable Income: 40705.00
  • Insurance Expense: 2450.00
  • Lot Size Area: 15039.0000 Square Feet
  • Maintenance Expense: 1700.00
  • Net Operating Income: 40705.00
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 2
  • Number Of Units Leased: 5
  • Number Of Units Total: 5
  • Number With Carpet: 5
  • Number With Drapes: 5
  • Number With Patio: 5
  • Number With Range: 5
  • Operating Expense: 27000.00
  • Rent Control: No
  • Total Actual Rent: 5939.00
  • Vacancy Allowance Rate: 5.00

Tax Info

  • New Taxes Expense: 11225.00
  • Tax Area: 7688
  • Tax Lot: 3
  • Tax Tract Number: 6954
  • Tax Year: 2013

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Aug 20, 2014
Closed on
Oct 31, 2014
Sold by
Mazanians Vazgen and Mazanians Marina
Bought by
Mazco Llc
Seller's Agent
Thomas Davis
Coldwell Banker Realty
Buyer's Agent
Vazgen Mazanians
Pacific Realty Center
List Price
$898,000
Sold Price
$1,025,000
Premium/Discount to List
$127,000
14.14%
Current Estimated Value
$1,198,500

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$173,500
Avg. Annual Appreciation
1.39%
Original Mortgage
$665,000
Interest Rate
4.16%
Mortgage Type
Balloon

Purchase Details

Listed on
Aug 20, 2014
Closed on
Sep 11, 2014
Sold by
Jordan Ruth E and The Ruth Jordan Living Trust
Bought by
Mazanians Vazgen and Mazanians Marina
Seller's Agent
Thomas Davis
Coldwell Banker Realty
Buyer's Agent
Vazgen Mazanians
Pacific Realty Center
List Price
$898,000
Sold Price
$1,025,000
Premium/Discount to List
$127,000
14.14%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$665,000
Interest Rate
4.16%
Mortgage Type
Balloon

Purchase Details

Closed on
Jan 25, 2005
Sold by
Smith Larry David and The Larry David Smith Separate
Bought by
Smith Larry David and Jordan Ruth

Purchase Details

Closed on
Sep 9, 2003
Sold by
Smith Larry David
Bought by
Smith Larry David and Larry David Smith Separate Pro

Purchase Details

Closed on
Jul 11, 2002
Sold by
Smith Larry David
Bought by
Smith Larry David and Larry David Smith Separate Pro

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$165,000
Interest Rate
6.7%

Purchase Details

Closed on
May 2, 2000
Sold by
Smith Larry D
Bought by
Smith Larry David and Larry David Smith Separate Pro
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
Mazco Llc -- Fidelity National Title Co
Mazanians Vazgen $1,001,500 First American Title Company
Smith Larry David -- --
Smith Larry David -- --
Smith Larry David -- Landsafe Title
Smith Larry David -- Landsafe Title
Smith Larry David -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Mazco Llc $665,000
Previous Owner Mazanians Vazgen $600,000
Previous Owner Smith Larry David $165,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
09/17/2014 09/17/14 Sold $1,025,000 +14.1% $242 / Sq Ft
09/08/2014 09/08/14 Pending -- -- --
08/20/2014 08/20/14 For Sale $898,000 -- $212 / 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 $9,317 $682,632 $324,497 $358,135
2024 $9,317 $708,141 $353,482 $354,659
2023 $9,334 $694,256 $346,551 $347,705
2022 $9,036 $680,644 $339,756 $340,888
2021 $8,524 $667,299 $333,095 $334,204
2020 $8,221 $660,458 $329,680 $330,778
2019 $8,232 $647,509 $323,216 $324,293
2018 $8,285 $634,814 $316,879 $317,935
2016 $4,534 $301,791 $93,994 $207,797
2015 $4,490 $297,259 $92,583 $204,676
2014 $4,432 $291,437 $90,770 $200,667
Source: Public Records

Agents Affiliated with this Home

  • Thomas Davis

    Seller's Agent in 2014

    Thomas Davis

    Coldwell Banker Realty

    (626) 921-6449

    1 in this area

    4 Total Sales

    Thomas Davis
    Section Image

  • V

    Buyer's Agent in 2014

    Vazgen Mazanians

    Pacific Realty Center

See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: AR14183912

California Regional Multiple Listing Service (CRMLS)

APN: 5844-003-021

California Los Angeles County Altadena 91001

2688 Lake Ave, Altadena, CA

Not Listed for Sale

MultiFamily

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