NOT LISTED FOR SALE

623 E Cedar Ave Burbank, CA 91501

Hillside District Neighborhood
21 Beds
22 Baths
11,419 Sq Ft
8,767 Sq Ft Lot

Last Sold July 09, 2018

Last sale price $4,500,000 $394 Per Sq Ft

51 Days on Market

About This Home

As of July 2018

This professionally managed building features a unit mix with one (1) 1 bedroom unit, and ten (10) 2 bedroom units. The building has been very well maintained: seven units have newer plank flooring, two have units granite counter tops, and five of the HVAC units have been recently replaced. The property also features a pitched roof, central HVAC, ample gated parking, individual hot water heaters and alley access. This is an opportunity for an investor to capitalize on approximately 23% +/- rental upside with minimal capital expenditure.

Last Agent to Sell the Property

Andy Kawatra

Andy Anubhav Kawatra License #01881930 Listed on: 03/07/2018

Co-Listed By

Sevak Keshishian

Marcus & Millichap License #01887505

Last Buyer's Agent

Mandi Liedtke

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1984

Lot Details

  • 8,767

Interior Spaces

  • 11,419 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 21 Bedrooms
  • 22 Bathrooms

Parking

  • 21 Parking Spaces
  • Assigned Parking

Additional Features

  • 8,767 Sq Ft Lot
  • Central Heating and Cooling System

Community Details

  • 11 Units

Listing and Financial Details

  • Assessor Parcel Number 5621-021-015

Property Details

Home Type

Multi-Family

Year Built

Built in 1984

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 11419
  • Stories: 2
  • Year Built: 1984
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 21
  • Total Bathrooms: 22.00
  • Price Per S Q F T: 402.84

Exterior Features

  • Tennis Court Y/N: No
  • Pool: No

Garage/Parking

  • Parking Garage: Assigned
  • Total Parking: 21

Utilities

  • Cooling: Central
  • Heating: Central

Lot Info

  • Assessor Parcel Number: 5621-021-015
  • Geocode Override: No
  • Lot Size Area: 8767

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109
  • Gross Rent Multiplier: 21.17
  • Number Of Units: 11
  • Type Of Units: Apartment
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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
07/09/2018 07/09/18 Sold $4,500,000 -2.2% $394 / Sq Ft
04/26/2018 04/26/18 Price Changed $4,600,000 -6.1% $403 / Sq Ft
03/07/2018 03/07/18 For Sale $4,900,000 -- $429 / Sq Ft
Source: The MLS

Tax History

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 $55,471 $5,019,830 $2,007,932 $3,011,898
2024 $55,471 $4,921,403 $1,968,561 $2,952,842
2023 $54,883 $4,824,906 $1,929,962 $2,894,944
2022 $52,413 $4,730,301 $1,892,120 $2,838,181
2021 $52,194 $4,637,551 $1,855,020 $2,782,531
2019 $50,090 $4,500,000 $1,800,000 $2,700,000
2018 $20,219 $1,731,740 $519,515 $1,212,225
2016 $19,088 $1,664,496 $499,343 $1,165,153
2015 $18,713 $1,639,495 $491,843 $1,147,652
2014 $18,718 $1,607,381 $482,209 $1,125,172
Source: Public Records

Agents Affiliated with this Home

  • Andy Kawatra

    Seller's Agent in 2018

    Andy Kawatra

    Andy Anubhav Kawatra

    (818) 456-7846

    2 in this area

    19 Total Sales

    Andy Kawatra
    Section Image
  • Sevak Keshishian

    Seller Co-Listing Agent in 2018

    Sevak Keshishian

    Marcus & Millichap

    (818) 394-0772

    53 Total Sales

    Sevak Keshishian
    Section Image

  • M

    Buyer's Agent in 2018

    Mandi Liedtke

  • L

    Buyer's Agent in 2018

    Levon Alexanian

See All Agents

Map

Source: The MLS

MLS Number: 18-320554

The MLS
California Los Angeles County Burbank 91501 Hillside District

623 E Cedar Ave, Burbank, CA

Not Listed for Sale

MultiFamily

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