NOT LISTED FOR SALE
18 Beds
18 Baths
9,788 Sq Ft
7,792 Sq Ft Lot

Sale Details

Date Sold: May 22, 2019

Last sale price $3,900,000 $398 Per Sq Ft

7 Days on Market

Highlights

  • View of Hills
  • Property is near public transit
  • Two cooling system units
  • Joaquin Miller Elementary School Rated A-
  • No HOA
  • Central Heating and Cooling System

About This Home

As of May 2019

Rare Opportunity in Prime Burbank Hills - 10 unit building built in 1987. Classy brick front, two story security building. 5 units each level. Perfect Burbank mix of units consisting of (8) 2 bed + 2 Bath and (2) 1 bed +1 bath. All units central air and heat, individual water heaters, Security garage for 19 cars, offering each bedroom (1) side by side parking space, as well as 1 extra parking. Owner owned Laundry on site - 2 washers, 2 dryers. Building has been painted recently in 2019. Roof was replaced in 2017. Some interior upgrades. Long term ownership, rents are low. This is a non-rent control building with substantial upside in rents. 1 unit currently vacant. GSI using pro forma for vacant unit.

Last Agent to Sell the Property

Don Ivone

California R.E.Services License #00949237 Listed on: 03/29/2019

Co-Listed By

Debbie Ivone

California R.E.Services License #01015138

Last Buyer's Agent

Galina Blackman

Coldwell Banker Realty License #01027011

Coldwell Banker Realty
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Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1987

Lot Details

  • 7,792 Sq Ft Lot
  • Two or More Common Walls
  • Density is up to 1 Unit/Acre

Parking

  • 19 Car Garage
  • Parking Available
  • Auto Driveway Gate
  • Driveway Down Slope From Street
  • Parking Lot
  • Assigned Parking
  • Controlled Entrance

Property Views

  • Hills
  • Neighborhood

Home Design

  • Property Attached
  • Flat Roof Shape

Interior Spaces

  • 9,788 Sq Ft Home
  • 2-Story Property
  • Gas Fireplace
  • Living Room with Fireplace

Kitchen

  • Gas Range
  • Dishwasher

Flooring

  • Carpet
  • Laminate
  • Vinyl

Bedrooms and Bathrooms

  • 18 Bedrooms
  • 18 Bathrooms

Home Security

  • Security Lights
  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Utilities

  • Two cooling system units
  • Central Heating and Cooling System
  • Air Source Heat Pump
  • Combination Of Heating Systems
  • Phone Available
  • Cable TV Available

Additional Features

  • Rain Gutters
  • Property is near public transit

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas, telephone
  • Tax Lot 10
  • Tax Tract Number 310702
  • Assessor Parcel Number 2455011027

Community Details

Overview

  • No Home Owners Association
  • 10 Units

Amenities

  • Laundry Facilities

Building Details

  • 9 Leased Units
  • 11 Separate Electric Meters
  • 11 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $825
  • Gardener Expense $1,200
  • Insurance Expense $6,000
  • Maintenance Expense $3,000
  • Trash Expense $1,379
  • Water Sewer Expense $1,878
  • New Taxes Expense $50,000
  • Operating Expense $64,382
  • Net Operating Income $138,358

Property Details

Home Type

Multi-Family

Year Built

Built in 1987

Lot Details

7,792 Sq Ft Lot

Parking

19

Listing Details

  • Property Attached: Yes
  • Road Frontage Type: City Street
  • Road Surface Type: Paved
  • Security: Carbon Monoxide Detector(s), Security Lights, Smoke Detector(s)
  • View: Yes
  • Water Sewer Expenses: 1878.00
  • Zoning: BUR4
  • Property Type: Residential Income
  • Gardener Expense: 1200.00
  • Parcel Number: 2455011027
  • Year Built: 1987
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: Yes
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Flooring: Carpet, Laminate, Vinyl
  • Appliances: Yes
  • Fireplace Features: Living Room, Gas
  • Levels: Two
  • Price Per Square Foot: 398.45

Exterior Features

  • View: Hills, Neighborhood
  • Pool Private: No
  • Roof: Flat

Garage/Parking

  • Garage Spaces: 19.00
  • Parking: Yes
  • Parking Features: Assigned, Auto Driveway Gate, Controlled Entrance, Driveway Down Slope From Street, Parking Space
  • Total Parking Spaces: 19.00

Utilities

  • Utilities: Cable Available, Electricity Available, Natural Gas Available, Phone Available, Sewer Connected, Water Available
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Dishwasher, Gas Range
  • Electric: Electricity - On Property
  • Heating Type: Central, Heat Pump, Combination
  • Laundry Features: Common Area
  • Sewer: Public Sewer
  • Trash Expense: 1379.00
  • Water Source: Public
  • Cooling: Central Air, Dual, Heat Pump, Electric
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs, Gutters

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre, Near Public Transit
  • Lot Size Sq Ft: 7792.00
  • Lot Size Acres: 0.1789

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas, Telephone

Multi Family

  • Electric Expense: 825.00
  • Gross Scheduled Income: 202740.00
  • Insurance Expense: 6000.00
  • Lot Size Area: 7792.0000 Square Feet
  • Maintenance Expense: 3000.00
  • Net Operating Income: 138358.00
  • Number Of Separate Electric Meters: 11
  • Number Of Separate Gas Meters: 11
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 9
  • Number Of Units Total: 10
  • Number With Carpet: 7
  • Number With Dishwasher: 10
  • Number With Range: 10
  • Operating Expense: 64382.00
  • Rent Control: No
  • Total Actual Rent: 14520.00
  • Total Expenses: 64382.00

Tax Info

  • New Taxes Expense: 50000.00
  • Tax Census Tract: 3107.02
  • Tax Lot: 10
  • Tax Tract Number: 310702

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
Mar 29, 2019
Closed on
May 16, 2019
Sold by
Bought by
Seller's Agent
Don Ivone
California R.E.Services
Buyer's Agent
Don Ivone
California R.E.Services
List Price
$4,000,000
Sold Price
$3,900,000
Premium/Discount to List
-$100,000
-2.5%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$300,000
Interest Rate
4%
Mortgage Type
Commercial

Purchase Details

Listed on
Mar 29, 2019
Closed on
Apr 19, 2019
Sold by
Bought by
Seller's Agent
Don Ivone
California R.E.Services
Buyer's Agent
Don Ivone
California R.E.Services
List Price
$4,000,000
Sold Price
$3,900,000
Premium/Discount to List
-$100,000
-2.5%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$300,000
Interest Rate
4%
Mortgage Type
Commercial

Purchase Details

Closed on
Dec 21, 2018
Sold by
Bought by

Purchase Details

Closed on
Mar 2, 1995
Sold by
Bought by

Purchase Details

Closed on
Feb 21, 1995
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
$3,900,000 Wfg National Title Insurance
-- Wfg Title
-- None Available
-- None Available
-- --
-- --
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 $2,105,000
Closed $300,000
Closed $1,950,000
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
05/22/2019 05/22/19 Sold $3,900,000 -2.5% $398 / Sq Ft
03/29/2019 03/29/19 For Sale $4,000,000 -- $409 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

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 $49,666 $4,350,519 $1,740,206 $2,610,313
2024 $48,110 $4,265,216 $1,706,085 $2,559,131
2023 $47,601 $4,181,585 $1,672,633 $2,508,952
2022 $45,459 $4,099,594 $1,639,837 $2,459,757
2021 $45,270 $4,019,211 $1,607,684 $2,411,527
2019 $12,524 $2,764,428 $1,036,068 $1,728,360
2018 $15,898 $1,349,692 $404,070 $945,622
2016 $14,994 $1,295,122 $388,381 $906,741
2015 $14,702 $1,275,669 $382,548 $893,121
2014 $14,717 $1,250,681 $375,055 $875,626
Source: Public Records

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: BB19070015

California Regional Multiple Listing Service (CRMLS)
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