NOT LISTED FOR SALE

319 E Palmer Ave Glendale, CA 91205

Adams Hill Neighborhood
6 Beds
6 Baths
1 Sq Ft
5,982 Sq Ft Lot

Last Sold January 29, 2021

Last sale price $2,130,000 $2,130,000 Per Sq Ft

17 Days on Market

Highlights

  • Primary Bedroom Suite
  • Custom Home
  • No HOA
  • Horace Mann Elementary School Rated A-
  • Gated Community
  • 4-minute walk to Palmer Park

About This Home

As of January 2021

A rare opportunity to acquire 319 E. Palmer Ave., a 6-unit investment opportunity located in the desirable city of Glendale, California. Nested on a lot size of 5,982 Sq. Ft. this two story wood frame & stucco construction was built in 1986. There are six units totaling approximately 4,884 Sq. Ft. of living space. Unit mix include (4) two bedrooms & two baths and (2) one bedroom & 1 bath. The one bedroom apartments range approximately 700 square feet and the two bedroom range approximately 850 square feet. These units are spacious in size, and the two bedroom units have balconies. All units have central air & heating, disposal, 5 units have dishwasher and all units are separately metered for gas & electric. There are individual water heaters for each unit. The parking accommodation include assigned spaces in a gated tuck-under parking. Parking allocations are 2 spaces for the two bedroom units and 1 space for the one bedroom units. There is onsite laundry. The building has secured entry with intercom access. Recent capital improvements include a new roof coating, rain gutters, and exterior light fixtures. This property is walking Distance to Grocery Stores, Parks, Bus Lines, Restaurants, and Schools. It is near Multiple Retail Centers, Major Highways, the Glendale Transportation Center, and Downtown Glendale
1.2 Miles to The Americana at Brand and 1.3 Miles to the Glendale Galleria and the Alex Theatre. This is a drive by only, please don’t disturb occupants.

Last Agent to Sell the Property

Haig Barsamian

BARSAM & ASSOCIATES, INC. License #01012187 Listed on: 11/18/2020

Last Buyer's Agent

Harut Kostikyan

HK Realty License #01937435

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1986

Lot Details

  • 5,982 Sq Ft Lot
  • Lot Dimensions are 75 x 82
  • Two or More Common Walls
  • East Facing Home
  • Block Wall Fence
  • Landscaped
  • Level Lot
  • Front Yard Sprinklers

Home Design

  • Custom Home
  • Apartment
  • Flat Roof Shape
  • Brick Exterior Construction
  • Fire Rated Drywall
  • Composition Roof
  • Concrete Perimeter Foundation
  • Stucco

Interior Spaces

  • 1 Sq Ft Home
  • 2-Story Property
  • Awning
  • Living Room
  • Carpet

Kitchen

  • Gas and Electric Range
  • Dishwasher
  • Disposal

Bedrooms and Bathrooms

  • 6 Bedrooms
  • Primary Bedroom Suite
  • 6 Bathrooms

Laundry

  • Laundry Room
  • Leased Washer and Dryer

Home Security

  • Intercom
  • Fire and Smoke Detector

Parking

  • 10 Parking Spaces
  • 10 Carport Spaces
  • Parking Available
  • Assigned Parking
  • Controlled Entrance

Accessible Home Design

  • Doors swing in
  • Accessible Parking

Outdoor Features

  • Balcony
  • Rain Gutters

Utilities

  • Central Heating and Cooling System
  • Sewer Paid
  • Cable TV Available

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • Tax Lot 5
  • Tax Tract Number 3025
  • Assessor Parcel Number 5676010010

Community Details

Overview

  • No Home Owners Association
  • 6 Units

Building Details

  • 6 Leased Units
  • 6 Separate Electric Meters
  • 6 Separate Gas Meters
  • Fuel Expense $150
  • Gardener Expense $720
  • Insurance Expense $1,365
  • Maintenance Expense $2,859
  • Trash Expense $1,820
  • Water Sewer Expense $3,636
  • New Taxes Expense $23,688
  • Operating Expense $34,239
  • Gross Income $113,220
  • Net Operating Income $78,981

Additional Features

  • Laundry Facilities
  • Gated Community

Property Details

Home Type

Multi-Family

Year Built

Built in 1986

Lot Details

0

Listing Details

  • Assessments: No
  • CapRate: 3.95
  • Price Per Unit: 333167
  • Property Attached: Yes
  • Security: Gated Community, Smoke Detector(s)
  • View: No
  • Water Sewer Expenses: 3636.00
  • Zoning: GLR4YY
  • Architectural Style: Custom Built
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Gardener Expense: 720.00
  • Parcel Number: 5676010010
  • Year Built: 1986
  • Special Features: None

Interior Features

  • Fireplace: No
  • Interior Amenities: Balcony, Intercom, Unfurnished
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Flooring: Carpet
  • Accessibility Features: Doors - Swing In, Parking
  • Appliances: Yes
  • Levels: Two
  • Room Type: Kitchen, Living Room, Master Bathroom, Master Bedroom, Master Suite

Exterior Features

  • Direction Faces: East
  • Foundation: Concrete Perimeter
  • Exterior Features: Awning(s)
  • Fence: Yes
  • Fencing: Block
  • Roof: Composition, Flat
  • Spa: No
  • Construction Materials: Brick Veneer, Drywall Walls, Stucco

Garage/Parking

  • Carport Spaces: 10.00
  • Parking: Yes
  • Parking Features: Assigned, Controlled Entrance, Covered
  • Total Parking Spaces: 10.00

Utilities

  • Utilities: Cable Connected, Electricity Connected, Natural Gas Available, Phone Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Dishwasher, Disposal, Gas & Electric Range
  • Electric: Standard
  • Heating Type: Central
  • Laundry Features: Community
  • Sewer: Sewer Paid
  • Trash Expense: 1820.00
  • Water Source: Public
  • Cooling: Central Air
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Curbs, Gutters

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Landscaped, Level, Sprinklers In Front
  • Lot Size: 75 X 82
  • Lot Size Sq Ft: 5982.00
  • Lot Size Acres: 0.1373

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas

Multi Family

  • Average1 Bed Area: 700 Square Feet
  • Average2 Bed Area: 850 Square Feet
  • Fuel Expense: 150.00
  • Gross Multiplier: 17.70
  • Gross Operating Income: 113220.00
  • Gross Scheduled Income: 113220.00
  • Gross Spendable Income: 78981.00
  • Insurance Expense: 1365.00
  • Laundry Equipment Own Lease: Lease
  • Lot Size Area: 5982.0000 Square Feet
  • Maintenance Expense: 2859.00
  • Net Operating Income: 78981.00
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Units Leased: 6
  • Number Of Units Total: 6
  • Number Wall A C: 6
  • Number With Carpet: 6
  • Number With Dishwasher: 5
  • Number With Disposal: 6
  • Number With Drapes: 6
  • Number With Range: 6
  • Number With Refrigerator: 6
  • Operating Expense: 34239.00
  • Rent Control: No
  • Total Actual Rent: 9435.00
  • Total Expenses: 34239.00

Tax Info

  • New Taxes Expense: 23688.00
  • Tax Area: 40445
  • Tax Census Tract: 3025.05
  • Taxes Percent: 1.20
  • Tax Lot: 5
  • Tax Tract Number: 3025.0

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
01/29/2021 01/29/21 Sold $2,130,000 +6.6% $2,130,000 / Sq Ft
12/05/2020 12/05/20 Pending -- -- --
11/18/2020 11/18/20 For Sale $1,999,000 -- $1,999,000 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Haig Barsamian

    Seller's Agent in 2021

    Haig Barsamian

    BARSAM & ASSOCIATES, INC.

    (877) 522-7726

    1 in this area

    24 Total Sales

    Section Image

  • H

    Buyer's Agent in 2021

    Harut Kostikyan

    HK Realty

    (323) 839-1434

    1 in this area

    57 Total Sales

    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: CV20240543

California Regional Multiple Listing Service (CRMLS)

California Los Angeles County Glendale 91205 Adams Hill

319 E Palmer Ave, Glendale, CA

This home is located at 319 E Palmer Ave, Glendale, CA 91205 since 18 November 2020. This property was built in 1986. 319 E Palmer Ave is a home located in Los Angeles County with nearby schools including Horace Mann Elementary School, Theodore Roosevelt Middle School, and Glendale 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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