NOT LISTED FOR SALE

724 E Magnolia Blvd Burbank, CA 91501

Hillside District Neighborhood
4 Beds
5 Baths
3,305 Sq Ft
7,484 Sq Ft Lot

Last Sold February 14, 2019

Last sale price $1,615,000 $489 Per Sq Ft

81 Days on Market

Highlights

  • Mountain View
  • Traditional Architecture
  • Lawn
  • Ralph Emerson Elementary School Rated A-
  • Sun or Florida Room
  • No HOA

About This Home

As of February 2019

Excellent opportunity for the investor who has been searching for in-demand units in a prime Burbank hillside location, close to the Downtown area. Mom and Pop property that has been owned by the same family for more than 70 years. Detached single family home with all of its original character in the front and four units in the rear, all on month to month agreements. House has been owner-occupied and will be delivered vacant at close of escrow. Copper plumbing, upgraded electrical, and central heating and air conditioning have been added to the house. Detached two car garage with adjoining laundry room (appliances included in sale) and small enclosed yard. Four units with garages that were added at the rear of the property are identified as Units A, B, C & D with a street address of 726 E Magnolia. Each unit has a single car garage. Separate laundry room for tenants with coin operated machines that are owned, not leased.

Last Agent to Sell the Property

Thomas Masterani

Engel & Völkers Burbank License #00716502 Listed on: 10/18/2018

Engel & Völkers Burbank

Co-Listed By

Victoria Claussen

Dilbeck Real Estate License #01063232

Last Buyer's Agent

Richard Kato, CCIM, CFP

KW College Park License #00775573

KW College Park

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1930

Lot Details

  • 7,484 Sq Ft Lot
  • 1 Common Wall
  • Block Wall Fence
  • Rectangular Lot
  • Paved or Partially Paved Lot
  • Level Lot
  • Sprinkler System
  • Lawn
  • Back and Front Yard

Parking

  • 6 Car Garage
  • On-Street Parking

Home Design

  • Traditional Architecture
  • Property Attached
  • Raised Foundation
  • Shingle Roof
  • Composition Roof
  • Stucco

Interior Spaces

  • 3,305 Sq Ft Home
  • 2-Story Property
  • Ceiling Fan
  • Wood Burning Fireplace
  • Double Pane Windows
  • Wood Frame Window
  • Entryway
  • Living Room with Fireplace
  • Sun or Florida Room
  • Mountain Views

Kitchen

  • Gas Cooktop
  • Microwave
  • Dishwasher
  • Ceramic Countertops

Flooring

  • Carpet
  • Vinyl

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 5 Bathrooms

Laundry

  • Laundry Room
  • Laundry Located Outside

Outdoor Features

  • Exterior Lighting
  • Rain Gutters

Utilities

  • Central Heating and Cooling System
  • Gas Water Heater
  • Cable TV Available

Listing and Financial Details

  • Tenant pays for all utilities
  • Tax Lot 8
  • Assessor Parcel Number 2455032009

Community Details

Overview

  • No Home Owners Association
  • 2 Buildings
  • 5 Units

Amenities

  • Laundry Facilities

Building Details

  • 4 Leased Units
  • 5 Separate Electric Meters
  • 5 Separate Gas Meters
  • 5 Separate Water Meters
  • Electric Expense $2,692
  • Fuel Expense $329
  • Furniture Replacement Expense $630
  • Gardener Expense $2,370
  • Insurance Expense $1,995
  • Maintenance Expense $1,217
  • Pest Control $790
  • Professional Management Expense $612
  • New Taxes Expense $20,625
  • Operating Expense $30,648
  • Gross Income $91,740
  • Net Operating Income $79,285

Property Details

Home Type

Multi-Family

Year Built

Built in 1930

Lot Details

0

Parking

6

Listing Details

  • CapRate: 4.81
  • Improvements Percent: 62.77
  • Professional Management Expense: 612.00
  • Property Attached: Yes
  • Road Frontage Type: City Street
  • Road Surface Type: Paved
  • View: Yes
  • Zoning: BUR3*
  • Architectural Style: Traditional
  • Property Type: Residential Income
  • Gardener Expense: 2370.00
  • Parcel Number: 2455032009
  • Year Built: 1930
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: Yes
  • Interior Amenities: Ceiling Fan(s), Ceramic Counters
  • Stories: 2
  • Common Walls: 1 Common Wall
  • Flooring: Carpet, Vinyl
  • Appliances: Yes
  • Fireplace Features: Living Room, Wood Burning
  • Levels: Two
  • Price Per Square Foot: 488.65
  • Room Type: Entry, Kitchen, Laundry, Living Room, Sun
  • Window Features: Double Pane Windows, Wood Frames

Exterior Features

  • Foundation: Raised
  • Exterior Features: Rain Gutters
  • View: Mountain(s)
  • Fence: Yes
  • Fencing: Block
  • Pool Private: No
  • Roof: Composition, Shingle
  • Spa: No
  • Construction Materials: Stucco

Garage/Parking

  • Garage Spaces: 6.00
  • Parking: No
  • Parking Features: Street
  • Total Parking Spaces: 6.00

Utilities

  • Utilities: Cable Available, Electricity Available, Natural Gas Available, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Dishwasher, Gas Cooktop, Gas Water Heater, Microwave, Refrigerator
  • Heating Type: Central
  • Laundry Features: Community, Individual Room, Outside
  • Pest Control Expense: 790.00
  • Sewer: Public Sewer
  • Water Source: Public
  • Cooling: Central Air
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs, Gutters, Sidewalks, Storm Drains, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Land Value Percent: 37.23
  • Lot Features: Back Yard, Front Yard, Lawn, Lot 6500-9999, Rectangular Lot, Level, Paved, Sprinkler System
  • Lot Size Sq Ft: 7484.00
  • Lot Size Acres: 0.1718

Rental Info

  • Tenant Pays: All Utilities

Multi Family

  • Electric Expense: 2692.00
  • Fuel Expense: 329.00
  • Furniture Replacement Expense: 630.00
  • Gross Income: 91740.00
  • Gross Multiplier: 17.99
  • Gross Operating Income: 88988.00
  • Gross Scheduled Income: 91740.00
  • Insurance Expense: 1995.00
  • Laundry Equipment Own Lease: Own
  • Laundry Income: 480.00
  • Lot Size Area: 7484.0000 Square Feet
  • Maintenance Expense: 1217.00
  • Maintenance Percent: 1.33
  • Net Operating Income: 79285.00
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 5
  • Number Of Units Leased: 4
  • Number Of Units Total: 5
  • Number Wall A C: 4
  • Number With Carpet: 5
  • Number With Dishwasher: 4
  • Number With Drapes: 5
  • Number With Range: 5
  • Number With Refrigerator: 5
  • Operating Expense: 12455.00
  • Operating Expense Percent: 13.58
  • Rent Control: No
  • Total Expenses: 30648.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 20625.00
  • Tax Census Tract: 3102.01
  • Tax Lot: 8
  • Tax Tract Number: 9999

Range of Values:

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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 Change Sq Ft Price
02/14/2019 02/14/19 Sold $1,615,000 -2.1% $489 / Sq Ft
01/07/2019 01/07/19 Pending -- -- --
12/06/2018 12/06/18 For Sale $1,650,000 0.0% $499 / Sq Ft
11/25/2018 11/25/18 Pending -- -- --
10/18/2018 10/18/18 For Sale $1,650,000 -- $499 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • T

    Seller's Agent in 2019

    Thomas Masterani

    Engel & Völkers Burbank

    (818) 843-7100

    6 in this area

    21 Total Sales

    Thomas Masterani
    Section Image

  • V

    Seller Co-Listing Agent in 2019

    Victoria Claussen

    Dilbeck Real Estate

    Section Image
See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: BB18251307

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

724 E Magnolia Blvd, Burbank, CA

This home is located at 724 E Magnolia Blvd, Burbank, CA 91501 since 18 October 2018. This property was built in 1930. 724 E Magnolia Blvd is a home located in Los Angeles County with nearby schools including Ralph Emerson 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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