NOT LISTED FOR SALE

730 E Magnolia Blvd Burbank, CA 91501

Hillside District Neighborhood
3 Beds
2 Baths
3,592 Sq Ft
7,873 Sq Ft Lot

Last Sold July 22, 2020

Last sale price $1,722,000 $479 Per Sq Ft

29 Days on Market

Highlights

  • Mountain View
  • Property is near public transit
  • No HOA
  • Ralph Emerson Elementary School Rated A-
  • Private Yard
  • Living Room Balcony

About This Home

As of July 2020

First time on the market - EVER! Built by the Lamer family in 1959 and carefully maintained, this five-unit apartment building is ideally located in the prime and popular Burbank hillside area, just below Kenneth Road. It is convenient to everything Burbank has to offer, just a few short blocks from the Downtown area with its shopping, restaurants, theaters, etc. It's close to hiking trails, public transportation, the DeBell Golf course and a short drive to the Media District and all of the studios making it very attractive to tenants. All of the units are currently rented on month-to-month agreements. There are four large single-story one-bedroom units in the front building with screened front and rear doors and a spacious two-bedroom second floor unit located near the five-car carport at the rear of the property. The two-bedroom upper unit has a private balcony and views of the mountains and the valley. It would make an ideal owner's unit. All of the units have copper plumbing, dual glazed energy efficient windows, wall a/c units and wall heaters, carpet and vinyl flooring, a dishwasher, gas range with lights/fan hood, and garbage disposal. Four of the units have refrigerators provided by the Landlord. There is a community laundry room with coin operated machines providing additional income. The apartments are separately metered for gas and electric. Water is master metered. Exterior lighting and automatic sprinklers for the nicely landscaped front yard.

Last Agent to Sell the Property

Thomas Masterani

Engel & Völkers Burbank License #00716502 Listed on: 05/30/2020

Engel & Völkers Burbank

Co-Listed By

Vicky Claussen

Dilbeck Real Estate License #01063232

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1959

Lot Details

  • 7,873 Sq Ft Lot
  • Lot Dimensions are 50x155
  • Two or More Common Walls
  • Rectangular Lot
  • Level Lot
  • Sprinklers on Timer
  • Private Yard
  • Front Yard

Property Views

  • Mountain
  • Valley
  • Neighborhood

Home Design

  • Property Attached
  • Brick Exterior Construction
  • Shingle Roof
  • Composition Roof
  • Copper Plumbing
  • Stucco

Interior Spaces

  • 3,592 Sq Ft Home
  • 2-Story Property
  • Built-In Features
  • Double Pane Windows
  • Laundry Room

Kitchen

  • Gas Oven
  • Gas Range
  • Range Hood
  • Dishwasher
  • Tile Countertops

Flooring

  • Carpet
  • Vinyl

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2 Bathrooms

Parking

  • 5 Parking Spaces
  • 5 Carport Spaces
  • Parking Available
  • Paved Parking
  • Off-Street Parking

Outdoor Features

  • Living Room Balcony
  • Exterior Lighting
  • Outdoor Storage
  • Rain Gutters

Location

  • Property is near public transit

Utilities

  • Cooling System Mounted To A Wall/Window
  • Heating System Uses Natural Gas
  • Wall Furnace
  • Natural Gas Connected
  • Gas Water Heater
  • Central Water Heater
  • TV Antenna

Listing and Financial Details

  • Tenant pays for electricity, gas, telephone, trash collection
  • Legal Lot and Block 6 / 20
  • Tax Tract Number 3102
  • Assessor Parcel Number 2455032007

Community Details

Overview

  • No Home Owners Association
  • 5 Units

Amenities

  • Laundry Facilities

Building Details

  • 5 Leased Units
  • Rent Control
  • 5 Separate Electric Meters
  • 5 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $192
  • Fuel Expense $1,152
  • Gardener Expense $960
  • Insurance Expense $1,539
  • Maintenance Expense $4,802
  • Pest Control $195
  • Professional Management Expense $4,800
  • Trash Expense $1,287
  • Water Sewer Expense $1,287
  • New Taxes Expense $21,540
  • Operating Expense $37,754
  • Gross Income $96,540
  • Net Operating Income $58,786

Property Details

Home Type

Multi-Family

Year Built

Built in 1959

Lot Details

0

Listing Details

  • Assessments: Yes
  • CapRate: 3.27
  • Improvements Percent: 68.00
  • Professional Management Expense: 4800.00
  • Property Attached: Yes
  • Road Frontage Type: City Street
  • Road Surface Type: Paved
  • View: Yes
  • Water Sewer Expenses: 1287.00
  • Zoning: BUR3*
  • Property Type: Residential Income
  • Gardener Expense: 960.00
  • Parcel Number: 2455032007
  • Year Built: 1959
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Interior Amenities: Balcony, Built-in Features, Copper Plumbing Full, Living Room Balcony, Tile Counters, Unfurnished
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Flooring: Carpet, Vinyl
  • Appliances: Yes
  • Levels: Two
  • Price Per Square Foot: 479.40
  • Room Type: Kitchen
  • Window Features: Double Pane Windows

Exterior Features

  • Other Structures: Storage
  • Exterior Features: Rain Gutters, TV Antenna
  • View: Mountain(s), Neighborhood, Valley
  • Pool Private: No
  • Roof: Composition, Shingle
  • Spa: No
  • Construction Materials: Brick, Stucco

Garage/Parking

  • Carport Spaces: 5.00
  • Parking: Yes
  • Parking Features: Carport, Concrete, Off Street, On Site
  • Total Parking Spaces: 5.00

Utilities

  • Utilities: Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Dishwasher, Gas Oven, Gas Range, Gas Water Heater, Range Hood, Refrigerator, Water Heater Central
  • Heating Type: Wall Furnace, Natural Gas
  • Laundry Features: Common Area, Individual Room
  • Pest Control Expense: 195.00
  • Sewer: Public Sewer
  • Trash Expense: 1287.00
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)
  • 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: 32.00
  • Lot Features: Front Yard, Lot 6500-9999, Rectangular Lot, Level, Near Public Transit, Sprinkler System, Sprinklers Timer, Yard
  • Lot Size: 50x155
  • Lot Size Sq Ft: 7873.00
  • Lot Size Acres: 0.1807

Rental Info

  • Tenant Pays: Electricity, Gas, Telephone, Trash Collection

Multi Family

  • Electric Expense: 192.00
  • Fuel Expense: 1152.00
  • Gross Income: 96540.00
  • Gross Multiplier: 18.59
  • Gross Operating Income: 96540.00
  • Gross Scheduled Income: 96540.00
  • Insurance Expense: 1539.00
  • Laundry Income: 840.00
  • Lot Size Area: 7873.0000 Square Feet
  • Maintenance Expense: 4802.00
  • Net Operating Income: 58786.00
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 5
  • Number Of Units Total: 5
  • Number With Carpet: 5
  • Number With Dishwasher: 5
  • Number With Disposal: 5
  • Number With Patio: 2
  • Number With Range: 5
  • Number With Refrigerator: 4
  • Operating Expense: 37754.00
  • Operating Expense Percent: 39.10
  • Rent Control: Yes
  • Total Actual Rent: 96540.00
  • Total Expenses: 37754.00

Tax Info

  • New Taxes Expense: 21540.00
  • Tax Block: 20
  • Tax Census Tract: 3102.01
  • Tax Lot: 6
  • Tax Tract Number: 3102.1

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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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
07/22/2020 07/22/20 Sold $1,722,000 -4.1% $479 / Sq Ft
06/28/2020 06/28/20 Pending -- -- --
05/30/2020 05/30/20 For Sale $1,795,000 -- $500 / 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 2020

    Thomas Masterani

    Engel & Völkers Burbank

    (818) 843-7100

    5 in this area

    21 Total Sales

    Thomas Masterani
    Section Image

  • V

    Seller Co-Listing Agent in 2020

    Vicky Claussen

    Dilbeck Real Estate

    Section Image
See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: BB20103146

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

730 E Magnolia Blvd, Burbank, CA

Not Listed for Sale

MultiFamily

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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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