$2,250,000
SOLD AUG 19, 2014
15 Beds
18 Baths
8,230 Sq Ft
5,745 Sq Ft Lot

Recently Sold

$273 Per Sq Ft

6% Below List Price

67 Days on Market

Highlights

  • Mountain View
  • No HOA
  • Central Air
  • Herbert Hoover High School Rated A-
  • Laundry Room

About This Home

As of August 2014

9 units Apt Building, (7 legal unit apartment building, plus two unpermitted singles) located in prime Glendale location.

The building consists of five 2-bedroom + 2 bath units, one 2 bedroom + 2 1/2 bath unit and one 3-bedroom + 3 bath .

Two of the units(3+3bath & 2+2.5bath) are townhouse style that has been updated and remodeled recently.

There are also two additional unpermitted singles which add $1300 to the monthly income (no separate meters). Buyers to investigage and self satisfy.

All Seven Units have individually outfitted with in-unit Washer/Dryer, Central Heat and Air and spacious floor plans. Close to shopping, transportation, schools and other amenities.

This property offers huge rental upside. Rents are low. Building is 100% occupied.

13 total parking spaces - 10 spaces are subterranean.

Last Agent to Sell the Property

Vartan ghermezian

Classic Realty Exchange License #01764546 Listed on: 05/07/2014

Last Buyer's Agent

Eddie Safa

AXES Group Inc License #01384205

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1988

Lot Details

  • 5,745 Sq Ft Lot
  • Two or More Common Walls
  • Density is up to 1 Unit/Acre

Parking

  • 13 Car Garage
  • Parking Available
  • Automatic Gate
  • Assigned Parking

Home Design

  • Property Attached
  • Asphalt Roof

Interior Spaces

  • 8,230 Sq Ft Home
  • Mountain Views
  • Laundry Room

Kitchen

  • Gas Cooktop
  • Dishwasher

Bedrooms and Bathrooms

  • 15 Bedrooms
  • 18 Bathrooms

Additional Features

  • Exterior Lighting
  • Central Air

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 5633
  • Tax Tract Number 2685
  • Assessor Parcel Number 5633022012

Community Details

Overview

  • No Home Owners Association
  • 9 Units

Building Details

  • 9 Leased Units
  • 7 Separate Electric Meters
  • 7 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $8,400
  • Gardener Expense $1,200
  • Insurance Expense $3,984
  • Maintenance Expense $3,600
  • Trash Expense $1,620
  • New Taxes Expense $29,375
  • Gross Income $149,400
  • Net Operating Income $100,921

Property Details

Home Type

Multi-Family

Year Built

Built in 1988

Lot Details

0

Parking

13

Listing Details

  • CapRate: 4.29
  • Other Phone Description: 818-489-3839
  • Other Phone Number: 818-606-6161
  • Property Attached: Yes
  • Security: Automatic Gate
  • View: Yes
  • Property Type: Residential Income
  • Gardener Expense: 1200.00
  • Parcel Number: 5633022012
  • Year Built: 1988
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Common Walls: 2+ Common Walls
  • Appliances: Yes
  • Levels: Three Or More
  • Price Per Square Foot: 273.39

Exterior Features

  • View: Mountain(s)
  • Pool Private: No
  • Roof: Asphalt

Garage/Parking

  • Garage Spaces: 13.00
  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 13.00

Utilities

  • Utilities: Sewer Connected
  • Laundry: Yes
  • Appliances: Dishwasher, Gas Cooktop
  • Laundry Features: Inside
  • Trash Expense: 1620.00
  • Water Source: Public
  • Cooling: Central Air
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Street Lights

Lot Info

  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 5745.00
  • Lot Size Acres: 0.1320

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Electric Expense: 8400.00
  • Gross Income: 149400.00
  • Gross Multiplier: 15.70
  • Gross Scheduled Income: 149400.00
  • Insurance Expense: 3984.00
  • Lot Size Area: 5745.0000 Square Feet
  • Maintenance Expense: 3600.00
  • Net Operating Income: 100921.00
  • Number Of Separate Electric Meters: 7
  • Number Of Separate Gas Meters: 7
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 9
  • Number Of Units Total: 9
  • Number With Dishwasher: 7
  • Number With Disposal: 7
  • Number With Range: 7
  • Operating Expense: 48479.00
  • Rent Control: No
  • Total Actual Rent: 12450.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 29375.00
  • Tax Lot: 5633
  • Tax Tract Number: 2685
  • Tax Year: 2013

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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
04/01/2023 04/01/23 Rented $2,800 +3.7% --
03/29/2023 03/29/23 Under Contract -- -- --
03/29/2023 03/29/23 For Rent $2,700 0.0% --
03/28/2023 03/28/23 Off Market $2,700 -- --
03/25/2023 03/25/23 For Rent $2,700 0.0% --
08/19/2014 08/19/14 Sold $2,250,000 -6.3% $273 / Sq Ft
07/13/2014 07/13/14 Pending -- -- --
05/07/2014 05/07/14 For Sale $2,400,000 -- $292 / 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: BB14094863

California Regional Multiple Listing Service (CRMLS)