D
Seller's Agent in 2024
Donald Hinton
Engel & Völkers La Canada
(818) 790-6774
1 in this area
3 Total Sales
350 Vine St Glendale, CA 91204
Pacific-Edison Neighborhood
8
Beds
9
Baths
4,645
Sq Ft
6,418
Sq Ft Lot
Highlights
- Fireplace
- Cooling System Mounted To A Wall/Window
- Wall Furnace
- Herbert Hoover High School Rated A-
- Laundry Room
- Northeast Facing Home
About This Home
As of September 2024Value Add 5 unit apartment building located in the heart of Glendale in close proximity to the Galleria and Americana. This is a trust sale and the property is being sold in its as-is condition with long term tenants in place and has been priced accordingly. Current rents are approximately 35% of market rents. Drive by only. Do not enter the property or disturb the tenants. Make all offers subject to inspection.The property has significant upside for a buyer with the experience to manage and renovate the property.There are four 2 bedroom 1.5 bath units and one 1 bedroom 1 bath unit. Market rents after renovation are estimated at $2,750/ month each for the 2 bedroom units and $1,750/ month for the one bedroom unit and the stabilized value could be in the range of $2,000,000 which is approximately $400,000/unit and $430/SF using a gross income multiplier of 13. Buyer is advised to conduct their own due diligence with regard to future market rents and value. Buyer should familiarize themselves with State of California AB 1482 and the City of Glendale Rental Rights Program and other laws related to rental increases and relocation assistance. Roll up your sleeves, get to work and create value.
Last Agent to Sell the Property
Engel & Völkers La Canada License #00575959 Listed on: 07/01/2024
Property Details
Home Type
- Apartment
Year Built
- Built in 1965
Lot Details
- 6,418 Sq Ft Lot
- No Common Walls
- Northeast Facing Home
- No Sprinklers
Interior Spaces
- 4,645 Sq Ft Home
- 2-Story Property
- Fireplace
- Laundry Room
Bedrooms and Bathrooms
- 8 Bedrooms
- 9 Bathrooms
Parking
- 5 Parking Spaces
- 5 Carport Spaces
- Parking Available
- Parking Lot
Outdoor Features
- Exterior Lighting
- Rain Gutters
Utilities
- Cooling System Mounted To A Wall/Window
- Wall Furnace
Listing and Financial Details
- Tenant pays for electricity, gas
- Tax Lot 13
- Assessor Parcel Number 5696011011
Community Details
Overview
- 2 Buildings
Building Details
- Rent Control
- 5 Separate Electric Meters
- 5 Separate Gas Meters
- Insurance Expense $1,045
- Trash Expense $7,050
- Operating Expense $45,576
- Gross Income $53,465
- Net Operating Income $107,904
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 09/06/2024 09/06/24 | Sold | $1,370,000 | +14.3% | $295 / Sq Ft |
| 07/27/2024 07/27/24 | Pending | -- | -- | -- |
| 07/01/2024 07/01/24 | For Sale | $1,199,000 | -- | $258 / Sq Ft |
Source: Pasadena-Foothills Association of REALTORS®
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 | $2,488 | $1,370,000 | $690,000 | $680,000 |
| 2024 | $2,488 | $148,720 | $38,666 | $110,054 |
| 2023 | $2,450 | $145,805 | $37,908 | $107,897 |
| 2022 | $2,414 | $142,947 | $37,165 | $105,782 |
| 2021 | $2,353 | $140,145 | $36,437 | $103,708 |
| 2019 | $2,287 | $135,990 | $35,357 | $100,633 |
| 2018 | $2,172 | $133,324 | $34,664 | $98,660 |
| 2016 | $1,990 | $128,149 | $33,319 | $94,830 |
| 2015 | $1,961 | $126,225 | $32,819 | $93,406 |
| 2014 | $1,984 | $123,754 | $32,177 | $91,577 |
Source: Public Records
Agents Affiliated with this Home
-
Donald Hinton
-
Chuck Lamm
Seller Co-Listing Agent in 2024
Chuck Lamm
Engel & Völkers La Canada
(818) 541-7300
1 in this area
59 Total Sales
-
Jack Baboudjian
Buyer's Agent in 2024
Jack Baboudjian
Baboudjian Properties Inc.
(310) 770-8700
1 in this area
17 Total Sales
Map
Source: Pasadena-Foothills Association of REALTORS®
MLS Number: P1-18302
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.
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.
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