NOT LISTED FOR SALE
5 Beds
5 Baths
7,582 Sq Ft
9,247 Sq Ft Lot

Sale Details

Date Sold: October 31, 2019

Last sale price $2,050,000 $270 Per Sq Ft

123 Days on Market

About This Home

As of October 2019

We are proud to represent the 10 unit apartment building located in Lake Balboa, a nice rental pocket in
Van Nuys.
The property consists of (6) one bedroom, one bath units, (2) two bedroom, one-and-one- half bath units, (1) two-bedroom, two-and-one-half bathrooms, and (1) single. On site amenities include a secured entrance, central courtyard, gated parking, and on site laundry room. The building is a total of 7,582 square feet and is situated on a large 9,270 square foot corner lot.
The Van Nuys rental community is highly desirable and centrally located, with easy access to public transportation
and freeways. The surrounding area features established residential tree-lined neighborhoods, and a variety of shopping centers and restaurants.
The property is situated in the Lake Balboa section of Van Nuys with close access to the 405, 101, and 170
freeways. Ventura Blvd. is just minutes away with all of its restaurants and shopping while the metro link transportations
service allows easy access to Sherman Oaks, Woodland Hills, Burbank, Hollywood, and downtown Los Angeles.
The property is separately metered for gas and electricity.

Last Agent to Sell the Property

Cindy Hill

Equity Union License #00885625 Listed on: 04/15/2019

Equity Union

Last Buyer's Agent

Cindy Hill

Equity Union License #00885625 Listed on: 04/15/2019

Equity Union

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1962

Lot Details

  • 9,247 Sq Ft Lot
  • 1 Common Wall
  • Landscaped
  • Rectangular Lot

Parking

  • 10 Car Garage

Home Design

  • 7,582 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 5 Bathrooms

Laundry

  • Laundry in unit

Location

  • Urban Location
  • Suburban Location

Listing and Financial Details

  • Tax Lot 24
  • Tax Tract Number 21923
  • Assessor Parcel Number 2233002034

Community Details

Overview

  • 10 Units
  • Valley

Amenities

  • Laundry Facilities

Building Details

  • Rent Control
  • 10 Separate Electric Meters
  • 10 Separate Gas Meters
  • 10 Separate Water Meters
  • Electric Expense $10,066
  • Trash Expense $2,835
  • New Taxes Expense $27,000
  • Operating Expense $48,099
  • Gross Income $152,580
  • Net Operating Income $104,883

Property Details

Home Type

Multi-Family

Year Built

Built in 1962

Lot Details

9,247 Sq Ft Lot

Parking

10

Listing Details

  • CapRate: 4.78
  • Property Attached: Yes
  • Zoning: LARD1.5
  • Property Type: Residential Income
  • Parcel Number: 2233002034
  • Year Built: 1962
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 1 Common Wall
  • Price Per Square Foot: 270.38

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 10.00
  • Total Parking Spaces: 10.00

Utilities

  • Laundry: Yes
  • Laundry Features: Community
  • Sewer: Public Sewer
  • Trash Expense: 2835.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Suburban, Urban, Valley

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Landscaped, Rectangular Lot
  • Lot Size Sq Ft: 9247.00
  • Lot Size Acres: 0.2123

Multi Family

  • Electric Expense: 10066.00
  • Gross Income: 152580.00
  • Gross Multiplier: 13.90
  • Gross Scheduled Income: 152580.00
  • Lot Size Area: 9247.0000 Square Feet
  • Net Operating Income: 104883.00
  • Number Of Separate Electric Meters: 10
  • Number Of Separate Gas Meters: 10
  • Number Of Separate Water Meters: 10
  • Number Of Units Total: 10
  • Operating Expense: 48099.00
  • Rent Control: Yes
  • Total Expenses: 48099.00

Tax Info

  • New Taxes Expense: 27000.00
  • Tax Census Tract: 1276.06
  • Tax Lot: 24
  • Tax Tract Number: 21923

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
Apr 15, 2019
Closed on
Dec 18, 2019
Sold by
Bought by
Seller's Agent
Cindy Hill
Equity Union
Buyer's Agent
Cindy Hill
Equity Union
List Price
$2,250,000
Sold Price
$2,050,000
Premium/Discount to List
-$200,000
-8.89%

Purchase Details

Closed on
Aug 9, 2017
Sold by
Bought by

Purchase Details

Closed on
Jun 27, 2016
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,139,000
Interest Rate
0.0358%
Mortgage Type
Commercial

Purchase Details

Closed on
May 5, 2006
Sold by
Bought by

Purchase Details

Closed on
Aug 29, 2005
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$768,500
Interest Rate
0.0568%
Mortgage Type
Commercial

Purchase Details

Closed on
Aug 11, 2005
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$768,500
Interest Rate
0.0568%
Mortgage Type
Commercial
Source: Public Records
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

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
-- Accommodation
-- None Available
-- First American Title Company
-- None Available
-- American Coast Title
$1,063,000 American Coast Title
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
Previous Owner $1,139,000
Previous Owner $768,500
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
10/31/2019 10/31/19 Sold $2,050,000 -8.9% $270 / Sq Ft
08/16/2019 08/16/19 Pending -- -- --
04/15/2019 04/15/19 For Sale $2,250,000 -- $297 / 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 $28,863 $2,296,653 $1,038,961 $1,257,692
2024 $28,492 $2,251,622 $1,018,590 $1,233,032
2023 $27,956 $2,207,473 $998,618 $1,208,855
2022 $26,689 $2,164,190 $979,038 $1,185,152
2021 $26,343 $2,121,756 $959,842 $1,161,914
2020 $26,603 $2,105,000 $950,000 $1,155,000
2019 $16,685 $1,306,624 $612,529 $694,095
2018 $16,517 $1,281,103 $600,519 $680,584
2016 $15,710 $1,226,552 $577,201 $649,351
2015 $15,493 $1,208,129 $568,531 $639,598
2014 $15,602 $1,184,465 $557,395 $627,070
Source: Public Records

Agents Affiliated with this Home

  • Section Image
See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SR19085006

California Regional Multiple Listing Service (CRMLS)
Your Personal Tour Guide

Ask me questions while you tour the home.