Seller's Agent in 2024
Melina Kalachian, CCIM
Keller Williams Realty
(818) 522-1900
1 in this area
13 Total Sales
420 W Elmwood Ave Burbank, CA 91506
Rancho Adjacent Neighborhood
17
Beds
17
Baths
9,310
Sq Ft
6,670
Sq Ft Lot
Highlights
- Gated Parking
- Fireplace
- Wrought Iron Fence
- Hutchens Elementary School Rated 10
- Central Heating and Cooling System
About This Home
As of July 2024Presenting 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
Keller Williams Realty Brokerage Phone: (818) 522-1900 License #01877904 Listed on: 05/07/2024
Co-Listed By
Keller Williams Realty Brokerage Phone: (818) 522-1900 License #01172350
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 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
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
May 7, 2024
Closed on
Jul 3, 2024
Sold by
Bought by
Seller's Agent
Melina Kalachian, CCIM
Keller Williams Realty
Buyer's Agent
Reza Ghobadi
Reza Ghobadi
List Price
$3,995,000
Sold Price
$3,525,000
Premium/Discount to List
-$470,000
-11.76%
Views
13
Purchase Details
Closed on
Mar 24, 2000
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$602,000
Interest Rate
0.0808%
Mortgage Type
Commercial
Purchase Details
Closed on
Jan 15, 1998
Sold by
Bought by
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Home Values in the Area
Average Home Value in this Area
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 |
|---|---|---|---|
| $3,525,000 | Lawyers Title Company | ||
| $860,000 | Southland Title | ||
| $689,500 | Commonwealth Title |
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 |
|---|---|---|---|
| Previous Owner | $1,000,000 | ||
| Previous Owner | $810,000 | ||
| Previous Owner | $602,000 |
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 |
|---|---|---|---|---|
| 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
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 | $40,398 | $3,525,000 | $1,770,000 | $1,755,000 |
| 2024 | $15,429 | $1,295,871 | $323,960 | $971,911 |
| 2023 | $15,275 | $1,270,462 | $317,608 | $952,854 |
| 2022 | $14,614 | $1,245,552 | $311,381 | $934,171 |
| 2021 | $14,509 | $1,221,130 | $305,276 | $915,854 |
| 2019 | $13,947 | $1,184,913 | $296,222 | $888,691 |
| 2018 | $13,801 | $1,161,680 | $290,414 | $871,266 |
| 2016 | $13,001 | $1,116,573 | $279,138 | $837,435 |
| 2015 | $12,750 | $1,099,802 | $274,946 | $824,856 |
| 2014 | $12,765 | $1,078,260 | $269,561 | $808,699 |
Source: Public Records
Agents Affiliated with this Home
-
Melina Kalachian, CCIM
-
Vince Kalachian
Seller Co-Listing Agent in 2024
Vince Kalachian
Keller Williams Realty
(818) 631-8855
1 in this area
12 Total Sales
-
Reza Ghobadi
Buyer's Agent in 2024
Reza Ghobadi
Reza Ghobadi
(818) 793-2923
2 in this area
19 Total Sales
Map
Source: Pasadena-Foothills Association of REALTORS®
MLS Number: P1-17542
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.
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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