NOT LISTED FOR SALE

420 W Elmwood Ave Burbank, CA 91506

Rancho Adjacent Neighborhood
17 Beds
17 Baths
9,310 Sq Ft
6,670 Sq Ft Lot

Last Sold July 31, 2024

Last sale price $3,525,000 $379 Per Sq Ft

55 Days on Market

Highlights

  • Gated Parking
  • Fireplace
  • Central Heating and Cooling System
  • William McKinley Elementary School Rated A-
  • Laundry Room
  • Wrought Iron Fence

About This Home

As of July 2024

Presenting an exceptional investment opportunity, this distinguished 9 Unit building, built in 1988, features eight 2-bedroom, 2-bathroom flat units alongside a unique 1-bedroom, 1-bathroom townhouse-style loft unit. With a great Curb Appeal, separate Gas and Electric Meters, and copper plumbing, the 9,310 square feet building extends over 6,670 square feet of land. Each unit has been thoughtfully designed to offer spacious living quarters, enhanced by central air conditioning and heating systems, fireplace, and high ceilings. Notably, the front units also have balconies, Situated in a Prime rental district, the location ensures strong rental demand with close proximity to schools, shopping amenities, and iconic entertainment studios like Disney, Warner Bros, and Nickelodeon, unlocking a unique lifestyle proposition for potential tenants. *****SEE ATTACHED MARKETING BROCHURE*****

Last Agent to Sell the Property

Melina Kalachian, CCIM

Keller Williams Realty Brokerage Phone: (818) 522-1900 License #01877904 Listed on: 05/07/2024

Keller Williams Realty

Co-Listed By

Vince Kalachian

Keller Williams Realty Brokerage Phone: (818) 522-1900 License #01172350

Last Buyer's Agent

Reza Ghobadi

Reza Ghobadi License #01780045

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1988

Lot Details

  • 6,670 Sq Ft Lot
  • Two or More Common Walls
  • Wrought Iron Fence
  • No Sprinklers

Parking

  • 18 Car Garage
  • Parking Available
  • Gated Parking

Home Design

  • Apartment

Interior Spaces

  • 9,310 Sq Ft Home
  • 3-Story Property
  • Fireplace

Bedrooms and Bathrooms

  • 17 Bedrooms
  • 17 Bathrooms

Laundry

  • Laundry Room
  • Laundry in Garage
  • Leased Washer and Dryer

Additional Features

  • Exterior Lighting
  • Central Heating and Cooling System

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 009
  • Tax Tract Number 311
  • Assessor Parcel Number 2451031009

Community Details

Building Details

  • 9 Leased Units
  • Rent Control
  • 10 Separate Electric Meters
  • 10 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $3,890
  • Fuel Expense $3,896
  • Gardener Expense $1,500
  • Insurance Expense $6,725
  • Maintenance Expense $9,821
  • Pest Control $808
  • Professional Management Expense $9,385
  • Trash Expense $2,070
  • Water Sewer Expense $3,358
  • New Taxes Expense $43,945
  • Operating Expense $85,398
  • Gross Income $221,196
  • Net Operating Income $136,513

Additional Features

  • 9 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1988

Lot Details

0

Parking

18

Listing Details

  • Assessments: No
  • Professional Management Expense: 9385.00
  • Property Attached: Yes
  • Subdivision Name Other: Not Applicable
  • View: No
  • Water Sewer Expenses: 3358.00
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Gardener Expense: 1500.00
  • Parcel Number: 2451031009
  • Year Built: 1988
  • Special Features: None

Interior Features

  • Fireplace: Yes
  • Stories: 3
  • Common Walls: 2+ Common Walls
  • Appliances: Yes
  • Price Per Square Foot: 384.32

Exterior Features

  • Fence: Yes
  • Fencing: Wrought Iron
  • Pool Private: No
  • Spa: No

Garage/Parking

  • Garage Spaces: 18.00
  • Parking: Yes
  • Parking Features: Gated
  • Total Parking Spaces: 18.00

Utilities

  • Sprinklers: No
  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Central
  • Laundry Features: Community, In Garage
  • Pest Control Expense: 808.00
  • Sewer: Public Sewer
  • Trash Expense: 2070.00
  • Water Source: Public
  • Cooling: Central Air
  • Cooling: Yes

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Street Lights, Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Sprinklers None
  • Lot Size Sq Ft: 6670.00
  • Lot Size Acres: 0.1531

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Electric Expense: 3890.00
  • Fuel Expense: 3896.00
  • Gross Income: 221196.00
  • Gross Scheduled Income: 221196.00
  • Insurance Expense: 6725.00
  • Laundry Equipment Own Lease: Lease
  • Laundry Income: 552.00
  • Lot Size Area: 6670.0000 Square Feet
  • Maintenance Expense: 9821.00
  • Net Operating Income: 136513.00
  • Number Of Separate Electric Meters: 10
  • Number Of Separate Gas Meters: 10
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 9
  • Number Of Units Total: 9
  • Operating Expense: 80811.00
  • Rent Control: Yes
  • Total Expenses: 85398.00
  • Vacancy Allowance: 2

Tax Info

  • New Taxes Expense: 43945.00
  • Tax Lot: 009
  • Tax Tract: 5370
  • Tax Tract Number: 311...

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 List to Sale Price per Sq Ft
07/31/2024 07/31/24 Sold $3,525,000 -1.5% $379 / Sq Ft
07/01/2024 07/01/24 Pending -- -- --
06/17/2024 06/17/24 Price Changed $3,578,000 -10.4% $384 / Sq Ft
05/07/2024 05/07/24 For Sale $3,995,000 -- $429 / Sq Ft
Source: Pasadena-Foothills Association of REALTORS®

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Melina Kalachian, CCIM

    Seller's Agent in 2024

    Melina Kalachian, CCIM

    Keller Williams Realty

    (818) 522-1900

    1 in this area

    13 Total Sales

    Melina Kalachian, CCIM
    Section Image
  • Vince Kalachian

    Seller Co-Listing Agent in 2024

    Vince Kalachian

    Keller Williams Realty

    (818) 631-8855

    1 in this area

    13 Total Sales

    Vince Kalachian
    Section Image
  • Reza Ghobadi

    Buyer's Agent in 2024

    Reza Ghobadi

    Reza Ghobadi

    (818) 793-2923

    1 in this area

    17 Total Sales

    Reza Ghobadi
    Section Image
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Map

Source: Pasadena-Foothills Association of REALTORS®

MLS Number: P1-17542

Pasadena-Foothills Association of REALTORS®
California Los Angeles County Burbank 91506 Rancho Adjacent

420 W Elmwood Ave, Burbank, CA

This home is located at 420 W Elmwood Ave, Burbank, CA 91506 since 07 May 2024. This property was built in 1988. 420 W Elmwood Ave is a home located in Los Angeles County with nearby schools including William McKinley Elementary School, Dolores Huerta Middle School, and John Burroughs High School.

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.

Pasadena-Foothills Association of REALTORS® 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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