NOT LISTED FOR SALE
16 Beds
16 Baths
8,494 Sq Ft
15,869 Sq Ft Lot

Last Sold May 01, 2023

Last sale price $4,750,000 $559 Per Sq Ft

148 Days on Market

Highlights

  • 0.36 Acre Lot
  • Wood Flooring
  • Resident Manager or Management On Site
  • Herbert Hoover High School Rated A-
  • Corner Lot
  • Laundry Room

About This Home

As of May 2023

We are pleased to present the opportunity to purchase a 16-unit two-story multi-family site in the desirable community of Pelanconi in Glendale, CA. The property is non-rent controlled and features one-bedroom units consisting of approximately 8,494 of net rentable squarefeet on 15,893 square feet of land. The charming garden style building is well located within a mostly single-family home residential neighborhood. Because of the lack of smaller rentals these one-bedrooms are higly sought after and rarely have vacancy. Local public schools are higly rated makingthis community a draw for familes as well. It's central location allows for an easy commute to many strong employment hubs within the film industry,industrial sector as well as Downtown Los Angeles.Originally built in 1948, the property has undergone light renovations over the years supporting it's retro charm. Many units have original hardwood floors,clean art-deco tiled bathrooms and kitchens while units that have been renovated have been replaced with luxury vinyl plank flooring. These thoughtful renovations create a perfect balance of both modern and retro appointments and is positioned quite well for additional improvements to be made as tenants roll-over. The large parking area in the rear of the building supports an opportunity for a major renovation by providing additional units and/or improvements for existing units. Glendale is a well established city in Los Angeles County for its strong demographics, Diversity and close proximity to Burbank and Los Angeles while offering a more niche community feel.

Last Agent to Sell the Property

Christie Abbott

Lee & Associates Los Angeles West Inc. License #01985617 Listed on: 11/03/2022

Lee & Associates Los Angeles West Inc.

Last Buyer's Agent

D. Berel Bakaleynik

D. Berel Bakaleynik License #01994255

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1948

Lot Details

  • 0.36 Acre Lot
  • Corner Lot

Interior Spaces

  • 8,494 Sq Ft Home
  • 2-Story Property
  • Oven or Range
  • Laundry Room

Flooring

  • Wood
  • Vinyl Plank

Bedrooms and Bathrooms

  • 16 Bedrooms
  • 16 Bathrooms

Parking

  • 16 Parking Spaces
  • Uncovered Parking

Utilities

  • Window Unit Cooling System

Listing and Financial Details

  • Assessor Parcel Number 5628-036-016

Community Details

Overview

  • 2 Buildings
  • 16 Units

Security

  • Resident Manager or Management On Site

Property Details

Home Type

Multi-Family

Year Built

Built in 1948

Lot Details

0.36 Acres

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 8494
  • Lot Acreage: 0.3643
  • Probate: No
  • Stories: 2
  • Year Built: 1948
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Hardwood, Vinyl Plank
  • Bedrooms: 16
  • Laundry: Room, Laundry Area
  • Total Bathrooms: 16.00
  • Equipment: Range/Oven, Refrigerator
  • Price Per S Q F T: 576.88

Exterior Features

  • Other Structures: Other

Garage/Parking

  • Parking Garage: Parking Space, Uncovered
  • Total Parking: 16

Utilities

  • Cooling: Window Unit(s)
  • Heating: Combination
  • Security: Resident Manager
  • Water Heaters: Yes

Lot Info

  • Assessed Improvement Percent: 59.97
  • Assessed Improvement Value: 1067730
  • Assessed Land Percent: 40.03
  • Assessed Land Value: 712745
  • Total Assessed Value: 1780475
  • Assessor Parcel Number: 5628-036-016
  • Lot Location: Corner Lot
  • Lot Size Area: 15869

Rental Info

  • Rent Control: No

Multi Family

  • Unit Type: 2106
  • Gross Rent Multiplier: 15.45
  • Number Of Units: 16
  • Type Of Units: 1+1
  • Vacancy Allow Percent: 3.00
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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 Prior Sale
05/01/2023 05/01/23 Sold $4,750,000 -3.1% $559 / Sq Ft
03/31/2023 03/31/23 Pending -- -- --
03/28/2023 03/28/23 Price Changed $4,900,000 -6.7% $577 / Sq Ft
11/03/2022 11/03/22 For Sale $5,250,000 +5.0% $618 / Sq Ft
04/11/2022 04/11/22 Sold $5,000,000 -5.5% $589 / Sq Ft View Prior Sale
02/10/2022 02/10/22 Pending -- -- --
01/04/2022 01/04/22 For Sale $5,290,000 -- $623 / Sq Ft
Source: The MLS

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 $53,232 $4,869,072 $2,164,032 $2,705,040
2024 $53,232 $4,773,600 $2,121,600 $2,652,000
2023 $56,346 $5,079,600 $2,019,600 $3,060,000
2022 $20,694 $1,780,475 $712,745 $1,067,730
2021 $20,318 $1,745,565 $698,770 $1,046,795
2020 $20,035 $1,732,667 $691,605 $1,041,062
2019 $19,568 $1,698,793 $678,045 $1,020,748
2018 $19,143 $1,665,582 $664,750 $1,000,832
2016 $18,190 $1,596,101 $638,938 $957,163
2015 $17,831 $1,572,127 $629,341 $942,786
2014 $17,774 $1,541,333 $617,014 $924,319
Source: Public Records

Agents Affiliated with this Home

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Map

Source: The MLS

MLS Number: 22-214951

The MLS
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