NOT LISTED FOR SALE
10 Beds
5 Baths
3,971 Sq Ft
8,109 Sq Ft Lot

Last Sold June 09, 2023

Last sale price $1,750,000 $441 Per Sq Ft

10 Days on Market

Highlights

  • Property is near public transit
  • Traditional Architecture
  • Neighborhood Views
  • Horace Mann Elementary School Rated A-
  • No HOA
  • Up Slope from Street

About This Home

As of June 2023

The owner's grandfather purchased the lot on Chevy Chase Drive in 1951 or 1952 and then began construction of this timeless 5-unit building. Construction was completed in 1953 and it is being offered for sale for the first time in 70 plus years. There are five 2 bedroom / one bath units with 3,971 square feet of living space on a 8,109 square foot lot. 5 enclosed garages plus community laundry room (owner owned machines) and separate owners storage room...plus a small basement area where the wine press, barrels and bottles were once stored. Numerous improvements to the property including new composition roof in 2007, copper plumbing in 2010, upgraded electrical systems in 2017, new sewer line cleanouts and sewer lines to the street in 2017, exterior paint in 2018. You get the picture. This multi-generational family property has been well cared for over the years. Six separate gas and electrical meters. Definite upside in future rental income, little to no deferred maintenance, wonderful Glendale location. What's not to love about 623 East Chevy Chase Drive.

Last Agent to Sell the Property

Ted Dodd

Haynes Real Estate License #00756734 Listed on: 04/13/2023

Last Buyer's Agent

Omar Bardumyan

Keller Williams Real Estate Services License #01835366

Keller Williams Real Estate Services

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1953

Lot Details

  • 8,109 Sq Ft Lot
  • Lot Dimensions are 51 x 158
  • Two or More Common Walls
  • Block Wall Fence
  • Rectangular Lot
  • Back Yard

Parking

  • 5 Car Garage
  • Parking Available
  • Up Slope from Street
  • Assigned Parking

Home Design

  • Traditional Architecture
  • Apartment
  • Entry on the 1st floor
  • Raised Foundation
  • Composition Roof
  • Partial Copper Plumbing
  • Stucco

Interior Spaces

  • 3,971 Sq Ft Home
  • 2-Story Property
  • Blinds
  • Neighborhood Views
  • Laundry Room
  • Basement

Kitchen

  • Six Burner Stove
  • Free-Standing Range
  • Disposal

Bedrooms and Bathrooms

  • 10 Bedrooms
  • 5 Bathrooms

Home Security

  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Outdoor Features

  • Exterior Lighting
  • Outdoor Storage
  • Rain Gutters

Utilities

  • Floor Furnace
  • Wall Furnace
  • Overhead Utilities
  • Natural Gas Connected
  • Gas Water Heater
  • Cable TV Available

Additional Features

  • Accessible Parking
  • Property is near public transit

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 37
  • Tax Tract Number 45330
  • Assessor Parcel Number 5676006007
  • $872 per year additional tax assessments

Community Details

Overview

  • No Home Owners Association
  • 5 Units

Amenities

  • Laundry Facilities

Building Details

  • Rent Control
  • 6 Separate Electric Meters
  • 6 Separate Gas Meters
  • 1 Separate Water Meter
  • Fuel Expense $575
  • Gardener Expense $1,200
  • Insurance Expense $3,582
  • Trash Expense $2,230
  • Water Sewer Expense $4,566
  • New Taxes Expense $23,000
  • Operating Expense $35,153
  • Gross Income $83,100
  • Net Operating Income $47,947

Property Details

Home Type

Multi-Family

Year Built

Built in 1953

Lot Details

0

Parking

5

Listing Details

  • Assessments: Yes
  • CapRate: 2.60
  • Property Attached: Yes
  • Road Frontage Type: City Street
  • Road Surface Type: Gravel
  • Security: Carbon Monoxide Detector(s), Smoke Detector(s)
  • View: Yes
  • Water Sewer Expenses: 4566.00
  • Zoning: GLR4YY
  • Architectural Style: Ranch, Traditional
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Gardener Expense: 1200.00
  • Parcel Number: 5676006007
  • Year Built: 1953
  • Special Features: None

Interior Features

  • Fireplace: No
  • Interior Amenities: Copper Plumbing Partial
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Accessibility Features: Parking
  • Appliances: Yes
  • Entry Level: 1
  • Levels: One, Two
  • Price Per Square Foot: 440.70
  • Room Type: Basement, Laundry
  • Window Features: Blinds

Exterior Features

  • Foundation: Raised
  • Other Structures: Storage
  • View: Neighborhood
  • Fence: Yes
  • Fencing: Block
  • Pool Private: No
  • Roof: Composition
  • Spa: No
  • Construction Materials: Stucco

Garage/Parking

  • Garage Spaces: 5.00
  • Parking: Yes
  • Parking Features: Assigned, Garage
  • Total Parking Spaces: 5.00

Utilities

  • Utilities: Cable Available, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: 6 Burner Stove, Free-Standing Range, Disposal, Gas Water Heater, Refrigerator, Water Heater
  • Heating Type: Floor Furnace, Wall Furnace
  • Laundry Features: Community, Individual Room
  • Sewer: Public Sewer
  • Trash Expense: 2230.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Curbs, Gutters, Sidewalks, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Back Yard, Rectangular Lot, Near Public Transit, Up Slope from Street, Utilities - Overhead
  • Lot Size: 51 x 158
  • Lot Size Sq Ft: 8109.00
  • Lot Size Acres: 0.1862

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Average2 Bed Area: 794 Square Feet
  • Fuel Expense: 575.00
  • Gross Income: 83100.00
  • Gross Multiplier: 22.00
  • Gross Scheduled Income: 83100.00
  • Insurance Expense: 3582.00
  • Laundry Equipment Own Lease: Own
  • Laundry Income: 1800.00
  • Lot Size Area: 8109.0000 Square Feet
  • Net Operating Income: 47947.00
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 5
  • Number With Disposal: 5
  • Number With Range: 5
  • Operating Expense: 35133.00
  • Rent Control: Yes
  • Total Actual Rent: 83100.00
  • Total Expenses: 35153.00

Tax Info

  • New Taxes Expense: 23000.00
  • Tax Census Tract: 3025.04
  • Tax Lot: 37
  • Tax Tract Number: 45330
  • TaxOtherAnnualAssessmentAmount: 872.00

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

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
06/09/2023 06/09/23 Sold $1,750,000 -5.4% $441 / Sq Ft
04/23/2023 04/23/23 Pending -- -- --
04/13/2023 04/13/23 For Sale $1,850,000 -- $466 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Section Image
  • Section Image
See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB23061923

California Regional Multiple Listing Service (CRMLS)