NOT LISTED FOR SALE

703 E Providencia Ave Unit 105 Burbank, CA 91501

Hillside District Neighborhood
6 Beds
10 Baths
6,686 Sq Ft
6,285 Sq Ft Lot

Last Sold October 19, 2016

Last sale price $1,970,000 $295 Per Sq Ft

86 Days on Market

Highlights

  • 5 Car Garage
  • Joaquin Miller Elementary School Rated A-
  • 4-minute walk to Joaquin Miller Park

About This Home

As of October 2016

We are pleased to present a ten unit apartment building located in Burbank, CA. This property is located in one ofthe most desirable pockets of Burbank, above Glenoaks Blvd and just minutes from Downtown Burbank, The Studios, and the Bob Hope Airport. Directly adjacent to Burbank are the NoHo arts district, Studio City, Toluca Lake, and Universal City, which all offer an abundance of entertainment and fine dining. Additionally, the property is situated right across the street from Joaquin Miller Elementary School. This location is ideal for a variety of tenants, from middle-class professionals to blue-collar workers. This building was constructed in 1924 and consists of six 1+1 units and four studios.It has been kept up well and still remains an attractive building. The property is non-rent control, which is important when investing in a city like Burbank which is expected to grow in the years to come. A stable tenant base with relatively higher incomes makes this a great investmen

Last Agent to Sell the Property

Filip Niculete

Marcus & Millichap License #01905352 Listed on: 07/13/2016

Last Buyer's Agent

Spartak Hovakimyan

New Era Properties License #01935820

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1924

Lot Details

  • 6,285 Sq Ft Lot

Parking

  • 5 Car Garage

Interior Spaces

  • 6 Bedrooms
  • 6,686 Sq Ft Home
  • 2-Story Property

Community Details

  • 10 Units

Listing and Financial Details

  • Assessor Parcel Number 2455-001-018

Property Details

Home Type

Multi-Family

Year Built

Built in 1924

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 6686
  • Stories: 2
  • Year Built: 1924
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 6
  • Price Per S Q F T: 314.09

Exterior Features

  • Tennis Court Y/N: No
  • Pool: No
  • View: No

Garage/Parking

  • Parking Garage: Garage
  • Total Parking: 5

Lot Info

  • Assessed Improvement Value: 543372
  • Assessed Land Value: 502772
  • Assessor Parcel Number: 2455-001-018
  • Geocode Override: No
  • Lot Size Area: 6285

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109, 2110, 2111, 2112, 2113, 2114, 2115
  • Gross Rent Multiplier: 20.26
  • Number Of Units: 10
  • Type Of Units: Residential

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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

Property History

Date Event Price List to Sale Price per Sq Ft
10/19/2016 10/19/16 Sold $1,970,000 -6.2% $295 / Sq Ft
10/07/2016 10/07/16 Pending -- -- --
09/21/2016 09/21/16 Price Changed $2,100,000 -6.7% $314 / Sq Ft
07/24/2016 07/24/16 For Sale $2,250,000 +14.2% $337 / Sq Ft
07/14/2016 07/14/16 Off Market $1,970,000 -- --
07/13/2016 07/13/16 For Sale $2,250,000 -- $337 / Sq Ft
Source: The MLS

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
2025 $35,939 $3,242,809 $2,048,091 $1,194,718
2024 $35,939 $3,179,226 $2,007,933 $1,171,293
2023 $35,560 $3,116,889 $1,968,562 $1,148,327
2022 $33,962 $3,055,774 $1,929,963 $1,125,811
2021 $33,827 $2,995,858 $1,892,121 $1,103,737
2019 $32,467 $2,912,250 $1,836,000 $1,076,250
2018 $32,289 $2,855,250 $1,800,000 $1,055,250
2017 $22,530 $1,970,000 $790,000 $1,180,000
2016 $12,352 $1,062,097 $510,439 $551,658
2015 $12,113 $1,046,144 $502,772 $543,372
2014 $12,139 $1,025,653 $492,924 $532,729
Source: Public Records

Agents Affiliated with this Home

  • Filip Niculete

    Seller's Agent in 2016

    Filip Niculete

    Marcus & Millichap

    (818) 357-9525

    103 Total Sales

    Filip Niculete
    Section Image

  • S

    Buyer's Agent in 2016

    Spartak Hovakimyan

    New Era Properties

    Section Image
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Map

Source: The MLS

MLS Number: 16-143392

The MLS
California Los Angeles County Burbank 91501 Hillside District

703 E Providencia Ave Unit 105, Burbank, CA

Not Listed for Sale

MultiFamily

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