NOT LISTED FOR SALE
16 Beds
8 Baths
6,206 Sq Ft
10,211 Sq Ft Lot

Sale Details

Date Sold: August 9, 2024

Last sale price $2,625,000 $423 Per Sq Ft

151 Days on Market

About This Home

As of August 2024

Presented alongside the neighboring 427 E Acacia Avenue building, the two properties are available either individually or as a portfolio. The entire building consists of two bedroom apartments with rents ranging from $2,025 to $2,100, while similar properties are achieving rents above $2,700. A new investor may be able to capture the approximately 27% rent upside more rapidly as the property is granted higher allowable rent increases via AB 1482, when compared to other assets subject to Los Angeles rent control. The buildings are surrounded by attractive shopping and dining options. Mere blocks east, tenants can enjoy boutiques, coffeeshops, and restaurants in historic Adams Square. Several retailers and restaurants line both Glendale Avenue and Brand Boulevard, both major streets being within two blocks of the property. Less than one mile north are both the upscale Americana at Brand shopping center and the recently remodeled Glendale Galleria shopping mall.

Last Agent to Sell the Property

Rick Raymundo

Marcus & Millichap License #01357019 Listed on: 03/11/2024

Last Buyer's Agent

Elizabeth Manasserian

Boardwalk Properties & Investm

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Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1953

Lot Details

  • 10,211 Sq Ft Lot

Parking

  • Assigned Parking

Interior Spaces

  • 6,206 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 16 Bedrooms
  • 8 Bathrooms

Community Details

  • 8 Units

Listing and Financial Details

  • Assessor Parcel Number 5675-027-014

Property Details

Home Type

Multi-Family

Year Built

Built in 1953

Lot Details

10,211 Sq Ft Lot

Listing Details

  • Property Type: Residential Income
  • Levels: Two
  • Street Number Display: Yes
  • Living Area: 6206
  • Lot Acreage: 0.2345
  • Stories: 2
  • Year Built: 1953
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 16
  • Total Bathrooms: 8.00
  • Price Per S Q F T: 462.46

Exterior Features

  • Other Structures: Other

Garage/Parking

  • Parking Garage: Assigned

Lot Info

  • Assessed Improvement Percent: 56.94
  • Assessed Improvement Value: 358619
  • Assessed Land Percent: 43.06
  • Assessed Land Value: 271223
  • Total Assessed Value: 629842
  • Assessor Parcel Number: 5675-027-014
  • Lot Size Area: 10211

Multi Family

  • Unit Type: 2106
  • Gross Rent Multiplier: 14.21
  • Number Of Units: 8
  • Type Of Units: Residential

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
$2,625,000 Old Republic Title Company
Peek Rosemary -- Chicago Title Company
Peek Rosemary -- None Available
Peek Jerry B -- None Available
Barclay College -- First American Title Co
Peek Jerry B $732,000 First American Title Co
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 $1,400,000
Previous Owner Peek Rosemary $800,000
Previous Owner Peek Jerry B $545,000
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
08/09/2024 08/09/24 Sold $2,625,000 -8.5% $423 / Sq Ft
08/09/2024 08/09/24 Pending -- -- --
03/11/2024 03/11/24 For Sale $2,870,000 -- $462 / 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
2026 $29,700 $2,677,500 $1,336,200 $1,341,300
2025 $29,700 $2,625,000 $1,310,000 $1,315,000
2024 $8,126 $642,438 $276,647 $365,791
2023 $7,963 $629,842 $271,223 $358,619
2022 $7,835 $617,493 $265,905 $351,588
2021 $7,679 $605,387 $260,692 $344,695
2019 $7,415 $589,832 $252,960 $336,872
2018 $7,141 $578,314 $248,000 $330,314
2016 $6,729 $553,553 $238,371 $315,182
2015 $6,604 $545,239 $234,791 $310,448
2014 $6,604 $534,559 $230,192 $304,367
Source: Public Records

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Map

Source: The MLS

MLS Number: 24-366386

The MLS
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