NOT LISTED FOR SALE

415 E Lexington Dr Glendale, CA 91206

City Center Neighborhood
10 Beds
10 Baths
6,691 Sq Ft
7,500 Sq Ft Lot

Last Sold May 01, 2019

Last sale price $2,125,000 $318 Per Sq Ft

29 Days on Market

About This Home

As of May 2019

A rare opportunity to purchase 5 units multifamily investment property located in prime Downtown Glendale location.First time on market for over 42 years. Built in 1976, the building has an exceptional unit mix of (5) 2+2, situated on a 7,500 SF of land. The property features super large units, approx. 6,691 SF building size, central A/C and heating, balconies, separate laundry hook-ups and 2 car private garages for each unit.The property is in pristine condition and has a great curb appeal, where all are front facing units, separate gas and electric meters and copper plumbing. It's located in a much desired prime rental location, within Downtown Glendale and walking distance to The Americana and Glendale Galleria.

Last Agent to Sell the Property

Vince Kalachian

Keller Williams Realty License #01172350 Listed on: 03/04/2019

Keller Williams Realty

Co-Listed By

Melina Kalachian, CCIM

Keller Williams Realty License #01877904

Last Buyer's Agent

Art Avaness

RE/MAX Signature License #01450817

RE/MAX Signature

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1976

Lot Details

  • 7,500

Parking

  • 10 Car Garage

Home Design

  • Property Attached

Flooring

  • Carpet
  • Laminate
  • Tile

Bedrooms and Bathrooms

  • 10 Bedrooms
  • 10 Bathrooms

Additional Features

  • 2-Story Property
  • 7,500 Sq Ft Lot
  • Forced Air Heating and Cooling System

Listing and Financial Details

  • Assessor Parcel Number 5643007041

Community Details

Overview

  • 5 Units

Building Details

  • 6 Separate Electric Meters
  • 5 Separate Gas Meters
  • 1 Separate Water Meter
  • Insurance Expense $2,073
  • Maintenance Expense $3,700
  • Water Sewer Expense $3,977
  • New Taxes Expense $28,750
  • Gross Income $119,100
  • Net Operating Income $77,018

Property Details

Home Type

Multi-Family

Year Built

Built in 1976

Lot Details

0

Parking

10

Listing Details

  • Property Attached: Yes
  • Subdivision Name Other: Not Applicable - 1007242
  • Water Sewer Expenses: 3977.00
  • Zoning: R-1250
  • Property Type: Residential Income
  • Parcel Number: 5643007041
  • Year Built: 1976
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 2
  • Flooring: Carpet, Laminate, Tile
  • Levels: Two

Garage/Parking

  • Garage Spaces: 10.00
  • Total Parking Spaces: 10.00

Utilities

  • Heating: Yes
  • Heating Type: Forced Air
  • Cooling: Central Air
  • Cooling: Yes

Condo/Co-op/Association

  • Senior Community: No

Lot Info

  • Land Lease: No
  • Lot Size Sq Ft: 7500.00
  • Lot Size Acres: 0.1700

Multi Family

  • Gross Income: 119100.00
  • Insurance Expense: 2073.00
  • Lot Size Area: 7500.0000 Square Feet
  • Maintenance Expense: 3700.00
  • Net Operating Income: 77018.00
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 5
  • Operating Expense: 39700.00

Tax Info

  • New Taxes Expense: 28750.00

Range of Values:

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Value Increase
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Percent Increase
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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

Property History

Date Event Price List to Sale Price per Sq Ft
05/01/2019 05/01/19 Sold $2,125,000 -7.6% $318 / Sq Ft
04/02/2019 04/02/19 Pending -- -- --
03/04/2019 03/04/19 For Sale $2,300,000 -- $344 / Sq Ft
Source: Pasadena-Foothills Association of REALTORS®

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 $26,281 $2,370,474 $1,115,517 $1,254,957
2024 $26,281 $2,323,995 $1,093,645 $1,230,350
2023 $25,693 $2,278,427 $1,072,201 $1,206,226
2022 $25,257 $2,233,753 $1,051,178 $1,182,575
2021 $24,814 $2,189,955 $1,030,567 $1,159,388
2020 $24,475 $2,169,000 $1,020,000 $1,149,000
2019 $1,358 $2,001,500 $800,000 $1,201,500
2018 $6,824 $549,710 $164,411 $385,299
2016 $6,418 $526,925 $158,028 $368,897
2015 $6,299 $519,011 $155,655 $363,356
2014 $6,279 $508,845 $152,606 $356,239
Source: Public Records

Agents Affiliated with this Home

  • Vince Kalachian

    Seller's Agent in 2019

    Vince Kalachian

    Keller Williams Realty

    (818) 631-8855

    1 in this area

    14 Total Sales

    Vince Kalachian
    Section Image
  • Melina Kalachian, CCIM

    Seller Co-Listing Agent in 2019

    Melina Kalachian, CCIM

    Keller Williams Realty

    (818) 522-1900

    2 in this area

    14 Total Sales

    Melina Kalachian, CCIM
    Section Image
  • Art Avaness

    Buyer's Agent in 2019

    Art Avaness

    RE/MAX

    (213) 505-7833

    1 in this area

    52 Total Sales

    Art Avaness
    Section Image
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Map

Source: Pasadena-Foothills Association of REALTORS®

MLS Number: P0-819000931

Pasadena-Foothills Association of REALTORS®
California Los Angeles County Glendale 91206 City Center

415 E Lexington Dr, Glendale, CA

Not Listed for Sale

MultiFamily

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