NOT LISTED FOR SALE
12 Beds
12 Baths
7,897 Sq Ft
10,224 Sq Ft Lot

Sale Details

Date Sold: May 14, 2021

Last sale price $2,980,000 $377 Per Sq Ft

11 Days on Market

About This Home

As of May 2021

Large 7,897 SF value add 9-unit building in prime Glendale priced at only 332k/door and 379/SF. This property cash flows day one at 4% Cap Rate and 16.7 GRM with almost 30% upside to 6% Cap Rate and 12.8 GRM on the proforma. Delivered with 3 vacant units for immediate upside and renovations. Excellent Glendale location walking distance to The Americana & Glendale Galleria. Individually metered for Gas & Electricity. Brand New Roof.

Last Agent to Sell the Property

Armin Soleimani

Global Platinum Properties, Inc. License #01846872 Listed on: 02/25/2021

Co-Listed By

Julio Ruiz

Global Platinum Properties, Inc. License #01911261

Last Buyer's Agent

Edvin Niazi

License #01306133

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1962

Lot Details

  • 10,224

Home Design

  • 7,897 Sq Ft Home

Kitchen

  • Oven or Range
  • Fireplace in Kitchen

Bedrooms and Bathrooms

  • 12 Bedrooms
  • 12 Bathrooms

Parking

  • 8 Parking Spaces
  • Covered Parking
  • Assigned Parking

Additional Features

  • 10,224 Sq Ft Lot
  • Heating System Mounted To A Wall or Window

Community Details

  • 9 Units
  • Rent Control

Listing and Financial Details

  • Assessor Parcel Number 5696-012-018

Property Details

Home Type

Multi-Family

Year Built

Built in 1962

Lot Details

10,224 Sq Ft Lot

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Advertising Remarks: Large 7,897 SF value add 9-unit building in prime Glendale priced at only 332k/door and 379/SF. This property cash flows day one at 4% Cap Rate and 16.7 GRM with almost 30% upside to 6% Cap Rate and 12.8 GRM on the proforma. Delivered with 3 vacant units for immediate upside and renovations. Excellent Glendale location walking distance to The Americana & Glendale Galleria. Individually metered for Gas & Electricity. Brand New Roof.
  • Living Area: 7897
  • Lot Acreage: 0.2347
  • Year Built: 1962
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 0

Interior Features

  • Fireplace Rooms: Kitchen
  • Bedrooms: 12
  • Total Bathrooms: 12.00
  • Equipment: Refrigerator, Range/Oven
  • Price Per S Q F T: 379.26

Exterior Features

  • Other Structures: None

Garage/Parking

  • Parking Garage: Assigned, Covered Parking
  • Total Parking: 8

Utilities

  • Heating: Wall
  • Water Heaters: Yes

Lot Info

  • Assessed Improvement Percent: 75.92
  • Assessed Improvement Value: 166444
  • Assessed Land Percent: 24.08
  • Assessed Land Value: 52789
  • Total Assessed Value: 219233
  • Assessor Parcel Number: 5696-012-018
  • Lot Size Area: 10224

Rental Info

  • Rent Control: Yes

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109, 2110, 2111, 2112, 2113, 2114
  • Gross Rent Multiplier: 16.73
  • Number Of Units: 9
  • Type Of Units: 9
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft Prior Sale
05/14/2021 05/14/21 Sold $2,980,000 -0.5% $377 / Sq Ft
02/25/2021 02/25/21 For Sale $2,995,000 +42.6% $379 / Sq Ft
12/01/2020 12/01/20 Sold $2,100,000 -8.7% $266 / Sq Ft View Prior Sale
11/18/2020 11/18/20 Pending -- -- --
11/17/2020 11/17/20 For Sale $2,300,000 0.0% $291 / Sq Ft
10/30/2020 10/30/20 Pending -- -- --
10/28/2020 10/28/20 For Sale $2,300,000 -- $291 / Sq Ft
Source: The MLS

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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 $35,796 $3,203,996 $2,273,106 $930,890
2024 $35,399 $3,141,174 $2,228,536 $912,638
2023 $34,604 $3,079,584 $2,184,840 $894,744
2022 $34,017 $3,019,200 $2,142,000 $877,200
2021 $33,863 $3,000,000 $1,200,000 $1,800,000
2020 $3,732 $235,448 $56,018 $179,430
2019 $3,669 $230,887 $54,920 $175,967
2018 $3,419 $226,416 $53,844 $172,572
2016 $3,146 $214,935 $51,754 $163,181
2015 $3,098 $211,707 $50,977 $160,730
2014 $3,142 $207,561 $49,979 $157,582
Source: Public Records

Agents Affiliated with this Home

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Map

Source: The MLS

MLS Number: 21-698040

The MLS
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