NOT LISTED FOR SALE

704 E Olive Ave Burbank, CA 91501

Hillside District Neighborhood

Estimated Value: $1,429,000 - $2,390,000

7 Beds
7 Baths
4,280 Sq Ft
$485/Sq Ft Est. Value

Last Sold December 19, 2012

Last sale price $930,000 $217 Per Sq Ft

Est. 123% increase in value since last sale

Current estimated payment $11,955/month

8 Days on Market

About This Home

As of December 2012

Great 3-unit building above Glenoaks in Burbank! Creme de la creme! Some remodeling done in 2011. 3 car garage, 1 car carport, 9 off street parking spaces. 3 Bed 3 Bath Owner's Unit $1925. 2 Bed 2 Bath $1750. 2 Bed 2 Bath $1500.

Last Agent to Sell the Property

Brad Korb

Brad Korb Real Estate Group License #00698730 Listed on: 10/08/2012

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1965

Lot Details

  • 7,134 Sq Ft Lot

Parking

  • 3 Car Garage
  • 1 Carport Space

Home Design

  • 4,280 Sq Ft Home

Bedrooms and Bathrooms

  • 7 Bedrooms
  • 7 Bathrooms

Listing and Financial Details

  • Tax Lot 20
  • Assessor Parcel Number 2455017020

Community Details

Overview

  • 3 Units

Building Details

  • 3 Separate Electric Meters
  • 3 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $960
  • Insurance Expense $2,142
  • Maintenance Expense $20,829
  • Pest Control $450
  • Professional Management Expense $3,036
  • Trash Expense $852
  • Water Sewer Expense $1,435
  • New Taxes Expense $10,125
  • Gross Income $5,275
  • Net Operating Income $23,471

Property Details

Home Type

Multi-Family

Year Built

Built in 1965

Lot Details

0

Parking

3

Listing Details

  • Professional Management Expense: 3036.00
  • Water Sewer Expenses: 1435.00
  • Property Type: Residential Income
  • Gardener Expense: 960.00
  • Parcel Number: 2455017020
  • Year Built: 1965
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Price Per Square Foot: 217.29

Garage/Parking

  • Carport Spaces: 1.00
  • Garage Spaces: 3.00
  • Total Parking Spaces: 9.00

Utilities

  • Pest Control Expense: 450.00
  • Trash Expense: 852.00

Lot Info

  • Lot Size Sq Ft: 7134.00
  • Lot Size Acres: 0.1640

Multi Family

  • Gross Income: 5275.00
  • Gross Scheduled Income: 63300.00
  • Insurance Expense: 2142.00
  • Lot Size Area: 7134.0000 Square Feet
  • Maintenance Expense: 20829.00
  • Net Operating Income: 23471.00
  • Number Of Separate Electric Meters: 3
  • Number Of Separate Gas Meters: 3
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 3
  • Operating Expense: 39829.00
  • Rent Control: No

Tax Info

  • New Taxes Expense: 10125.00
  • Tax Lot: 20

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jul 19, 2024
Sold by
Raffy Soulahian Trust and Soulahian Loucine
Bought by
Soulahian Family Trust and Soulahian
Current Estimated Value
$2,077,360

Purchase Details

Closed on
Apr 4, 2017
Sold by
Soulahian Raffy
Bought by
Soulahian Raffy

Purchase Details

Listed on
Oct 8, 2012
Closed on
Oct 22, 2012
Sold by
Nicholls Christie and The Christie Nicholls Trust
Bought by
Soulahian Raffi and Soulahian Loucine
Seller's Agent
Brad Korb
Brad Korb Real Estate Group
List Price
$899,998
Sold Price
$930,000
Premium/Discount to List
$30,002
3.33%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.36%
Original Mortgage
$644,000
Interest Rate
3.37%
Mortgage Type
New Conventional

Purchase Details

Closed on
May 19, 2010
Sold by
Nelson Sheryle and Nicholls Christie
Bought by
Nicholls Christie and Gibbs Trust

Purchase Details

Closed on
Mar 19, 1997
Sold by
Gibbs Family Trust and Clarice I
Bought by
Gibbs Clarice I and Gibbs Marital Trust I
Source: Public Records

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

Purchase History

Date Buyer Sale Price Title Company
Soulahian Family Trust -- None Listed On Document
Soulahian Raffy -- None Available
Soulahian Raffi $930,009 Fidelity Van Nuys
Nicholls Christie -- None Available
Gibbs Clarice I -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Soulahian Raffi $644,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
12/19/2012 12/19/12 Sold $930,000 +3.3% $217 / Sq Ft
10/16/2012 10/16/12 Pending -- -- --
10/08/2012 10/08/12 For Sale $899,998 -- $210 / 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
2025 $12,849 $1,145,216 $738,852 $406,364
2024 $12,849 $1,122,762 $724,365 $398,397
2023 $12,715 $1,100,748 $710,162 $390,586
2022 $12,146 $1,079,166 $696,238 $382,928
2021 $12,083 $1,058,007 $682,587 $375,420
2020 $11,951 $1,047,159 $675,588 $371,571
2019 $11,600 $1,026,628 $662,342 $364,286
2018 $11,417 $1,006,499 $649,355 $357,144
2016 $10,820 $967,418 $624,141 $343,277
2015 $10,602 $952,887 $614,766 $338,121
2014 $10,582 $934,222 $602,724 $331,498
Source: Public Records

Agents Affiliated with this Home

  • Brad Korb

    Seller's Agent in 2012

    Brad Korb

    Brad Korb Real Estate Group

    (818) 859-0310

    42 in this area

    356 Total Sales

    Brad Korb
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: B12125072

California Regional Multiple Listing Service (CRMLS)

APN: 2455-017-020

California Los Angeles County Burbank 91501 Hillside District

704 E Olive Ave, Burbank, CA

Not Listed for Sale

MultiFamily

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