NOT LISTED FOR SALE

638 E Tujunga Ave Burbank, CA 91501

Hillside District Neighborhood

Estimated Value: $4,444,000 - $5,402,000

2 Beds
3 Baths
10,020 Sq Ft
$488/Sq Ft Est. Value

Last Sold September 03, 2021

Last sale price $4,200,000 $419 Per Sq Ft

Est. 16% increase in value since last sale

Current estimated payment $31,455/month

Highlights

  • Laundry Room
  • Joaquin Miller Elementary School Rated A-
  • Patio Home

About This Home

As of September 2021

We are proud to represent this 8 unit apartment building in an excellent Burbank rental pocket.
The building was constructed in 1989. Its unit mix consists of (8) 2-bedroom, 2.5-bathroom units, (4) of which are loft units. With a lot size of 7,064 square feet, the property has a total of 10,020 rentable square feet.
The property is located in Burbank, which is a highly desirable rental market and is known as the media capital of the world. It is home to Disney Studios, Warner Brothers, and NBC. The city has over 80 restaurants, 30 movie screens, and 200 stores; its residents enjoy top ranked schools, easy access to the 5 and 134 freeways, and close proximity to the Burbank Metro Link.
The building is a Burbank trophy property, maintained by the original builder-owner. Tenants enjoy mountain views, open floor plans, separate entrances, and storage rooms; units also feature fireplaces, washer and dryer hook ups, central air and heating, and outdoor patios and balconies.
An astute investor will enjoy the turnkey asset, excellent unit mix, award winning schools, and improving area as rents
increase over time.

Last Agent to Sell the Property

Cindy Hill

Equity Union License #00885625 Listed on: 08/31/2021

Equity Union

Last Buyer's Agent

Cindy Hill

Equity Union License #00885625 Listed on: 08/31/2021

Equity Union

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $49,210

Year Built

  • Built in 1989

Lot Details

  • 7,064 Sq Ft Lot
  • 1 Common Wall

Parking

  • 17 Car Garage

Home Design

  • 10,020 Sq Ft Home
  • Patio Home
  • Apartment

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 3 Bathrooms

Laundry

  • Laundry Room
  • Dryer
  • Washer

Location

  • Urban Location
  • Suburban Location

Listing and Financial Details

  • Legal Lot and Block 2 / 27
  • Tax Tract Number 310
  • Assessor Parcel Number 2455010024
  • $1,146 per year additional tax assessments

Community Details

Overview

  • 8 Units
  • Valley

Building Details

  • 8 Separate Electric Meters
  • 8 Separate Gas Meters
  • 8 Separate Water Meters
  • Electric Expense $540
  • Fuel Expense $2,076
  • Insurance Expense $2,654
  • Water Sewer Expense $1,416
  • Operating Expense $67,997
  • Gross Income $293,400
  • Net Operating Income $224,281

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$49,210

Year Built

Built in 1989

Lot Details

0

Parking

17

Listing Details

  • Price Per Unit: 525000
  • Property Attached: Yes
  • Water Sewer Expenses: 1416.00
  • Zoning: BUR4*
  • Property Type: Residential Income
  • Parcel Number: 2455010024
  • Year Built: 1989
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 1 Common Wall
  • Price Per Square Foot: 419.16

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 17.00
  • Total Parking Spaces: 17.00

Utilities

  • Laundry: Yes
  • Laundry Features: Dryer Included, Washer Included
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Suburban, Urban, Valley

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Patio Home
  • Lot Size Sq Ft: 7064.00
  • Lot Size Acres: 0.1622

Multi Family

  • Electric Expense: 540.00
  • Fuel Expense: 2076.00
  • Gross Income: 293400.00
  • Gross Scheduled Income: 293400.00
  • Insurance Expense: 2654.00
  • Lot Size Area: 7064.0000 Square Feet
  • Net Operating Income: 224281.00
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 8
  • Number Of Units Total: 8
  • Operating Expense: 67997.00
  • Rent Control: No
  • Total Expenses: 67997.00

Tax Info

  • Tax Block: 27
  • Tax Census Tract: 3102.02
  • Tax Lot: 2
  • Tax Tract Number: 310...
  • TaxOtherAnnualAssessmentAmount: 1146.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Aug 31, 2021
Closed on
Aug 23, 2021
Sold by
Yegian Shahen and Yegian Isa Bella
Bought by
Ina Mb Llc
Seller's Agent
Cindy Hill
Equity Union
Buyer's Agent
Cindy Hill
Equity Union
List Price
$4,200,000
Sold Price
$4,200,000
Total Days on Market
0
Current Estimated Value
$4,886,901

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$686,901
Avg. Annual Appreciation
3.48%
Original Mortgage
$1,500,000
Interest Rate
2.7%
Mortgage Type
Commercial

Purchase Details

Closed on
Apr 7, 1999
Sold by
Y And A Real Estate Investments and Shahen
Bought by
Yegian Shahen
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Ina Mb Llc $4,200,000 Lawyers Title
Yegian Shahen -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Ina Mb Llc $1,500,000
Closed Ina Mb Llc $1,500,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
09/03/2021 09/03/21 Sold $4,200,000 0.0% $419 / Sq Ft
08/31/2021 08/31/21 Pending -- -- --
08/31/2021 08/31/21 For Sale $4,200,000 -- $419 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

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
2024 $49,210 $4,369,680 $1,747,872 $2,621,808
2023 $48,688 $4,284,000 $1,713,600 $2,570,400
2022 $46,494 $4,200,000 $1,680,000 $2,520,000
2021 $15,398 $1,298,894 $384,326 $914,568
2019 $14,801 $1,260,371 $372,928 $887,443
2018 $14,600 $1,235,659 $365,616 $870,043
2016 $13,751 $1,187,679 $351,420 $836,259
2015 $13,484 $1,169,840 $346,142 $823,698
2014 $13,446 $1,146,925 $339,362 $807,563
Source: Public Records

Agents Affiliated with this Home

  • Cindy Hill

    Seller's Agent in 2021

    Cindy Hill

    Equity Union

    (818) 640-8360

    7 in this area

    75 Total Sales

    Cindy Hill
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SR21192889

California Regional Multiple Listing Service (CRMLS)

APN: 2455-010-024

California Los Angeles County Burbank 91501 Hillside District

638 E Tujunga Ave, Burbank, CA

This home is located at 638 E Tujunga Ave, Burbank, CA 91501 since 31 August 2021 and is currently estimated at $4,886,901, approximately $487 per square foot. This property was built in 1989. 638 E Tujunga Ave is a home located in Los Angeles County with nearby schools including Joaquin Miller Elementary School, John Muir Middle School, and Burbank High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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