NOT LISTED FOR SALE

627 E Providencia Ave Burbank, CA 91501

Hillside District Neighborhood
20 Beds
11 Baths
8,241 Sq Ft
7,542 Sq Ft Lot

Last Sold October 28, 2015

Last sale price $3,065,000 $372 Per Sq Ft

72 Days on Market

Highlights

  • Traditional Architecture
  • Granite Countertops
  • Cooling System Mounted To A Wall/Window
  • Joaquin Miller Elementary School Rated A-
  • Neighborhood Views
  • 5-minute walk to Joaquin Miller Park

About This Home

As of October 2015

Massive 10 unit building with nine 2 bedroom, 1 bath units and one 2 bedroom, 2 bath unit. All the units are large, over 800 Sq.Ft. and many nicely updated. The building is located in the highest demand area for upscale rentals, above Glenoaks in Burbank. The building has updates to the plumbing, new Milgard windows and fresh exterior paint. Laundry room with leased washers and dryers and storage space. Eleven electrical and gas meters, ten covered parking spots plus additional tandem parking. There is no rent control in Burbank. Current annual gross income is $188,400 with lots of upside potential. Property has a newer loan with chase mortgage that must be assumed by buyer. The principal is approx $1,227,882.00 at 3.46% the loan is a 5 year fixed and converts to an adjustable for the balance of 25 years. The buyer must assume this loan or use this Chase office to get a larger loan to avoid the a large pre-pay.

Last Agent to Sell the Property

David Fogg

Keller Williams Realty World Media Center License #01149065 Listed on: 09/15/2015

Last Buyer's Agent

Reza Ghobadi

Reza Ghobadi License #01780045

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1964 | Remodeled

Lot Details

  • 7,542 Sq Ft Lot
  • Two or More Common Walls
  • Block Wall Fence
  • Density is 6-10 Units/Acre

Home Design

  • Traditional Architecture
  • Property Attached
  • Stucco

Interior Spaces

  • 8,241 Sq Ft Home
  • Ceiling Fan
  • Recessed Lighting
  • Living Room
  • Laminate Flooring
  • Neighborhood Views

Kitchen

  • Granite Countertops
  • Tile Countertops

Bedrooms and Bathrooms

  • 20 Bedrooms
  • Mirrored Closets Doors
  • 11 Bathrooms

Laundry

  • Laundry Room
  • Laundry Located Outside
  • Leased Washer and Dryer

Parking

  • 25 Car Garage
  • 10 Attached Carport Spaces
  • Parking Storage or Cabinetry
  • Parking Available
  • No Driveway
  • Assigned Parking

Outdoor Features

  • Exterior Lighting

Utilities

  • Cooling System Mounted To A Wall/Window
  • Wall Furnace

Listing and Financial Details

  • Tax Lot 7
  • Assessor Parcel Number 2455002007

Community Details

Building Details

  • 10 Leased Units
  • 11 Separate Electric Meters
  • 11 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $1,800
  • Insurance Expense $3,000
  • Pest Control $552
  • Trash Expense $1,440
  • Water Sewer Expense $1,800
  • New Taxes Expense $37,500
  • Gross Income $50
  • Net Operating Income $139,868

Additional Features

  • 10 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1964 | Remodeled

Lot Details

0

Listing Details

  • Property Attached: Yes
  • View: Yes
  • Water Sewer Expenses: 1800.00
  • Architectural Style: Traditional
  • Property Condition: Updated/Remodeled
  • Property Type: Residential Income
  • Parcel Number: 2455002007
  • Year Built: 1964
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Interior Amenities: Ceiling Fan(s), Granite Counters, Recessed Lighting, Tile Counters
  • Common Walls: 2+ Common Walls
  • Flooring: Laminate
  • Door Features: Mirror Closet Door(s)
  • Price Per Square Foot: 371.92
  • Room Type: Living Room

Exterior Features

  • View: Neighborhood
  • Fencing: Block
  • Pool Private: No
  • Spa: No
  • Construction Materials: Stucco

Garage/Parking

  • Carport Spaces: 10.00
  • Parking: Yes
  • Parking Features: Assigned, Covered, Attached Carport, No Driveway, Built-In Storage
  • Total Parking Spaces: 25.00

Utilities

  • Utilities: Sewer Available
  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Wall Furnace
  • Laundry Features: Common Area, Community, Individual Room, Outside
  • Pest Control Expense: 552.00
  • Trash Expense: 1440.00
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Community Features: Curbs, Sidewalks, Street Lights

Lot Info

  • Lot Features: 6-10 Units/Acre
  • Lot Size Sq Ft: 7542.00
  • Price Per Lot Square Foot: 406.39
  • Lot Size Acres: 0.1730

Multi Family

  • Electric Expense: 1800.00
  • Gross Income: 50.00
  • Gross Scheduled Income: 188600.00
  • Insurance Expense: 3000.00
  • Laundry Equipment Own Lease: Lease
  • Lot Size Area: 7542.0000 Square Feet
  • Net Operating Income: 139868.00
  • Number Of Separate Electric Meters: 11
  • Number Of Separate Gas Meters: 11
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 10
  • Number Of Units Total: 10
  • Operating Expense: 48732.00
  • Rent Control: No
  • Total Actual Rent: 15850.00

Tax Info

  • New Taxes Expense: 37500.00
  • Tax Lot: 7

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Sold Price
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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 Prior Sale
10/28/2015 10/28/15 Sold $3,065,000 +2.2% $372 / Sq Ft
09/18/2015 09/18/15 Pending -- -- --
07/08/2015 07/08/15 For Sale $3,000,000 +11.1% $364 / Sq Ft
06/27/2014 06/27/14 Sold $2,700,000 0.0% $328 / Sq Ft View Prior Sale
05/09/2014 05/09/14 Pending -- -- --
05/05/2014 05/05/14 For Sale $2,699,000 -- $328 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • D

    Seller's Agent in 2015

    David Fogg

    Keller Williams Realty World Media Center

  • Reza Ghobadi

    Buyer's Agent in 2015

    Reza Ghobadi

    Reza Ghobadi

    (818) 793-2923

    20 Total Sales

    Reza Ghobadi
    Section Image
  • Barry Burnett

    Seller's Agent in 2014

    Barry Burnett

    Barry Burnett Realty, Inc.

    (818) 842-2611

    13 in this area

    48 Total Sales

    Barry Burnett
    Section Image

  • A

    Buyer's Agent in 2014

    Arman Blak

    Arman Balakhchyan

    (818) 640-1046

    1 Total Sale

    Arman Blak
    Section Image
See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: BB15148693

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Burbank 91501 Hillside District

627 E Providencia Ave, Burbank, CA

Not Listed for Sale

MultiFamily

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