NOT LISTED FOR SALE
20 Beds
2 Baths
10,904 Sq Ft
7,549 Sq Ft Lot

Sale Details

Date Sold: November 12, 2014

Last sale price $2,500,000 $229 Per Sq Ft

38 Days on Market

Highlights

  • Card or Code Access
  • Central Heating and Cooling System
  • Carpet
  • Joaquin Miller Elementary School Rated A-
  • 20 Car Garage

About This Home

As of November 2014

Probate Sale subject to Court Confirmation and Overbid. Accepted price is $2,500,000 All Cash 10 Day Close. First overbid in court will be $2,625,500. COURT DATE IS SET FOR 10/2/2014 @ 8:30AM AT STANLEY MOSK COURTHOUSE 111 N. HILL ST., DEPT. 11. Offers on Probate Purchase Agreement (PPA) only, 10% deposit by cashier check ($262,550) is required. This 1990 construction 10-unit building located in prime Burbank just south of Glenoaks Boulevard. The units are all two-bedroom/two-bathroom layouts with central air conditioning, built in kitchens, individual patios and fireplaces. The Cape Code designed building along with the lush foliage gives this building a character that tenants desire in a home.While the property is well maintained, rents are currently lower than market and a value add investor can easily increase rents quickly. It is rare to find assets like this in such a prime area with as much upside.

Last Agent to Sell the Property

Jeff Louks

Marcus & Millichap License #00908473 Listed on: 07/08/2014

Last Buyer's Agent

Jeff Louks

Marcus & Millichap License #00908473 Listed on: 07/08/2014

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Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1990

Lot Details

  • 7,549

Parking

  • 20 Car Garage

Interior Spaces

  • 20 Bedrooms
  • 10,904 Sq Ft Home
  • 2-Story Property
  • Carpet
  • Gas And Electric Dryer Hookup

Additional Features

  • 7,549 Sq Ft Lot
  • Central Heating and Cooling System

Community Details

  • 10 Units
  • Card or Code Access

Listing and Financial Details

  • Assessor Parcel Number 2455-013-024

Property Details

Home Type

Multi-Family

Year Built

Built in 1990

Lot Details

7,549 Sq Ft Lot

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Entry Location: Ground Level w/steps
  • Living Area: 10904
  • Probate: Yes
  • Stories: 2
  • Year Built: 1990
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Carpet
  • Bedrooms: 20
  • Equipment: Gas Or Electric Dryer Hookup
  • Price Per S Q F T: 229.27

Exterior Features

  • Tennis Court Y/N: No
  • Pool: No
  • View: No

Garage/Parking

  • Parking Garage: Garage
  • Total Parking: 20

Utilities

  • Cooling: Central
  • Heating: Central
  • Security: Card/Code Access

Lot Info

  • Assessed Improvement Value: 907715
  • Assessed Land Value: 301720
  • Assessor Parcel Number: 2455-013-024
  • Geocode Override: No
  • Lot Size Area: 7549

Rental Info

  • Court Approve: Yes

Multi Family

  • Unit Type: 2106
  • Gross Rent Multiplier: 16.28
  • Number Of Units: 10
  • Rent Control: 0
  • Type Of Units: Apartments

Ownership 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 Name Owned For Owner Type

Purchase Details

Listed on
Jul 8, 2014
Closed on
Oct 20, 2014
Sold by
Bought by
Seller's Agent
Jeff Louks
Marcus & Millichap
Buyer's Agent
Jeff Louks
Marcus & Millichap
List Price
$2,500,000
Sold Price
$2,500,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,490,000
Interest Rate
4.2%
Mortgage Type
Future Advance Clause Open End Mortgage

Purchase Details

Closed on
Apr 23, 1999
Sold by
Bought by

Purchase Details

Closed on
Sep 9, 1997
Sold by
Bought by

Purchase Details

Closed on
Aug 18, 1993
Sold by
Bought by
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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Purchase 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 Buyer Sale Price Title Company
$2,500,000 North American Title Company
$950,000 --
-- Old Republic Title
-- Old Republic Title
-- Old Republic Title
-- Old Republic Title Company
Source: Public Records

Mortgage 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 Status Borrower Loan Amount
Open $2,750,000
Closed $250,000
Closed $2,010,000
Closed $1,490,000
Previous Owner $533,000
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
11/12/2014 11/12/14 Sold $2,500,000 0.0% $229 / Sq Ft
08/15/2014 08/15/14 Pending -- -- --
07/08/2014 07/08/14 For Sale $2,500,000 -- $229 / 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 $34,799 $3,004,616 $1,802,770 $1,201,846
2024 $33,660 $2,945,703 $1,767,422 $1,178,281
2023 $33,308 $2,887,945 $1,732,767 $1,155,178
2022 $31,823 $2,831,320 $1,698,792 $1,132,528
2021 $31,661 $2,775,805 $1,665,483 $1,110,322
2019 $30,397 $2,693,476 $1,616,085 $1,077,391
2018 $30,170 $2,640,664 $1,584,398 $1,056,266
2016 $28,570 $2,538,125 $1,522,875 $1,015,250
2015 $27,998 $2,500,000 $1,500,000 $1,000,000
2014 $14,344 $1,214,925 $303,089 $911,836
Source: Public Records

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Map

Source: The MLS

MLS Number: 14-775163

The MLS
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