NOT LISTED FOR SALE
3 Beds
2 Baths
5,380 Sq Ft
7,436 Sq Ft Lot

Last Sold October 31, 2018

Last sale price $1,990,000 $370 Per Sq Ft

80 Days on Market

About This Home

As of October 2018

This is a well-appointed 6-unit apartment complex at 415 Fischer Street in the city of Glendale California. Situated in a prime location
just steps from Colorado Street, the property is comprised of two buildings. The front building offers four spacious two-bedroom
units, each with one and a half bathrooms. The building in the back offers two one-bedroom/one-bathroom units which are located
above the garages. Both buildings offers more than 5,300 square feet of rentable space on 7,417 square feet of land. Built in 1954
this complex offers three garages and three open parking spaces. Featuring an on-site laundry facility which currently not been
used is added value for the next owner for additional income. Furthermore, the property was upgraded with new roof and copper
plumbing approximately nine years ago. In addition, the property is separately metered for gas and electricity. Located south of
Colorado Street and west of Verdugo Road, this complex is within walking distance to all restaurants and retailers venues that line
Colorado Street. Furthermore, the property is close approximately to 134, 2, 5 and 210 Freeways. The property’s prime location,
coupled with upside potential, make it a fantastic investment opportunity.

Last Agent to Sell the Property

Reza Ghobadi

Reza Ghobadi License #01780045 Listed on: 05/30/2018

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1954

Lot Details

  • 7,436 Sq Ft Lot
  • Two or More Common Walls

Parking

  • 6 Car Garage

Home Design

  • 5,380 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2 Bathrooms

Listing and Financial Details

  • Tax Lot 5576
  • Tax Tract Number 302103
  • Assessor Parcel Number 5680013023

Community Details

Overview

  • 6 Units

Building Details

  • 6 Separate Electric Meters
  • 6 Separate Gas Meters
  • Electric Expense $1,500
  • Insurance Expense $2,000
  • Maintenance Expense $4,500
  • Pest Control $480
  • Professional Management Expense $3,435
  • Water Sewer Expense $4,500
  • New Taxes Expense $22,680
  • Operating Expense $39,095
  • Gross Income $116,820
  • Net Operating Income $75,389

Property Details

Home Type

Multi-Family

Year Built

Built in 1954

Lot Details

0

Parking

6

Listing Details

  • CapRate: 3.59
  • Professional Management Expense: 3435.00
  • Property Attached: Yes
  • Water Sewer Expenses: 4500.00
  • Zoning: GLR4YY
  • Property Type: Residential Income
  • Parcel Number: 5680013023
  • Year Built: 1954
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 369.89

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 6.00
  • Total Parking Spaces: 6.00

Utilities

  • Laundry: No
  • Pest Control Expense: 480.00
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Lot 6500-9999
  • Lot Size Sq Ft: 7436.00

Multi Family

  • Electric Expense: 1500.00
  • Gross Income: 116820.00
  • Gross Multiplier: 17.98
  • Gross Scheduled Income: 116820.00
  • Insurance Expense: 2000.00
  • Maintenance Expense: 4500.00
  • Net Operating Income: 75389.00
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Units Total: 6
  • Operating Expense: 39095.00
  • Rent Control: No
  • Total Expenses: 39095.00
  • Vacancy Allowance: 2336

Tax Info

  • New Taxes Expense: 22680.00
  • Tax Census Tract: 3021.03
  • Tax Lot: 5576
  • Tax Tract Number: 302103

Range of Values:

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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 Change Sq Ft Price
10/31/2018 10/31/18 Sold $1,990,000 -5.2% $370 / Sq Ft
08/18/2018 08/18/18 Pending -- -- --
05/30/2018 05/30/18 For Sale $2,100,000 -- $390 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SR18190757

California Regional Multiple Listing Service (CRMLS)