NOT LISTED FOR SALE

309 E Palmer Ave Glendale, CA 91205

Adams Hill Neighborhood

Estimated Value: $2,882,517

-- Bed
-- Bath
6,973 Sq Ft
$413/Sq Ft Est. Value

Last Sold June 08, 2018

Last sale price $2,083,000 $299 Per Sq Ft

Est. 38% increase in value since last sale

Current estimated payment $17,283/month

31 Days on Market

About This Home

As of June 2018

Situated on a vast +/-14,835sf lot, this rare mixed use opportunity is perfectly positioned at the corner of Glendale Blvd and Palmer Ave in the heart of Glendale. The property is zoned GLC3* and is currently comprised of three(3) retail units, one(1) duplex and one(1) single family residential structure. Given the location, attractive local area amenities and potential opportunity to increase rental income, this investment presents an excellent opportunity for an investor to acquire a unique property. While property is currently 100% occupied, there is still tremendous value-add potential. Unit breakdown in listing only shows residential units. Please contact listing agent(s) for specific retail numbers.

Last Agent to Sell the Property

Michael Winestone

The Passman Group, Inc. License #01962276 Listed on: 04/11/2018

Last Buyer's Agent

David Passman

The Passman Group, Inc. License #01795153

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1947

Lot Details

  • 0.34

Home Design

  • 6,973 Sq Ft Home

Parking

  • 2 Car Garage
  • Carport
  • Driveway

Additional Features

  • Oven or Range
  • 0.34 Acre Lot

Community Details

  • 3 Buildings
  • 6 Units

Listing and Financial Details

  • Assessor Parcel Number 5676-010-011

Property Details

Home Type

Multi-Family

Year Built

Built in 1947

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 6973
  • Probate: No
  • Year Built: 1947
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 0

Interior Features

  • Equipment: Range/Oven, Refrigerator
  • Price Per S Q F T: 257.42

Exterior Features

  • Tennis Court Y/N: No
  • Pool: No

Garage/Parking

  • Parking Garage: Carport, Driveway, Garage - 2 Car
  • Total Parking: 9

Lot Info

  • Assessed Improvement Value: 76662
  • Assessed Land Value: 154399
  • Assessor Parcel Number: 5676-010-011
  • Geocode Override: No
  • Lot Size Area: 14835

Multi Family

  • Unit Type: 2106, 2107, 2108
  • Gross Rent Multiplier: 14.38
  • Number Of Units: 6
  • Type Of Units: Mixed Use

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 11, 2018
Closed on
May 29, 2018
Sold by
Spiegel Clay and The Eleanor R Cicero Trust
Bought by
Dowell John R and Mcdowell Mullika
Seller's Agent
Michael Winestone
The Passman Group, Inc.
Buyer's Agent
David Passman
The Passman Group, Inc.
List Price
$1,795,000
Sold Price
$2,083,000
Premium/Discount to List
$288,000
16.04%
Current Estimated Value
$2,882,517

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$799,517
Avg. Annual Appreciation
4.40%

Purchase Details

Closed on
Mar 10, 2011
Sold by
Abassian Hovhanes and Abassian Helen
Bought by
Abassian Hovhanes and Abassian Helen

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$60,000
Interest Rate
4.77%
Mortgage Type
Commercial

Purchase Details

Closed on
Nov 19, 2002
Sold by
Cicero Eleanor R and The Cicero Family Living Trust
Bought by
Cicero Eleanor R and The Eleanor R Cicero Trust

Purchase Details

Closed on
Mar 14, 2000
Sold by
Cicero Charles A and Cicero Eleanor
Bought by
Cicero Charles A and Cicero Eleanor R

Purchase Details

Closed on
Oct 1, 1993
Sold by
Cicero Charles A
Bought by
Cicero Charles A and Cicero Eleanor
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
Dowell John R $2,083,000 First American Title Company
Abassian Hovhanes -- Old Republic Title Company
Cicero Eleanor R -- --
Cicero Charles A -- --
Cicero Charles A -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Abassian Hovhanes $60,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
06/08/2018 06/08/18 Sold $2,083,000 +16.0% $299 / Sq Ft
05/12/2018 05/12/18 Pending -- -- --
04/11/2018 04/11/18 For Sale $1,795,000 -- $257 / 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 $26,162 $2,370,093 $1,459,832 $910,261
2024 $26,162 $2,323,621 $1,431,208 $892,413
2023 $25,575 $2,278,061 $1,403,146 $874,915
2022 $25,137 $2,233,394 $1,375,634 $857,760
2021 $24,693 $2,189,603 $1,348,661 $840,942
2019 $23,758 $2,124,660 $1,308,660 $816,000
2018 $3,144 $235,681 $157,486 $78,195
2016 $2,925 $226,531 $151,372 $75,159
2015 $2,875 $223,130 $149,099 $74,031
2014 $2,880 $218,760 $146,179 $72,581
Source: Public Records

Agents Affiliated with this Home

  • M

    Seller's Agent in 2018

    Michael Winestone

    The Passman Group, Inc.

    Section Image
  • David Passman

    Buyer's Agent in 2018

    David Passman

    The Passman Group, Inc.

    (310) 717-5694

    8 Total Sales

    David Passman
    Section Image
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Map

Source: The MLS

MLS Number: 18-330568

The MLS

APN: 5676-010-011

California Los Angeles County Glendale 91205 Adams Hill

309 E Palmer Ave, Glendale, CA

Not Listed for Sale

MultiFamily

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