NOT LISTED FOR SALE

823 Highland Ave Glendale, CA 91202

Pelanconi Neighborhood
16 Beds
16 Baths
8,494 Sq Ft
0.36 Acres

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

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 8494
  • Lot Acreage: 0.3643
  • Probate: No
  • Stories: 2
  • Year Built: 1948
  • Number Of Photos: 6
  • 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
  • Total Annual Expense: 107384
  • Type Of Units: 1+1
  • Vacancy Allow Percent: 3.00
  • Vacancy Rate: 0

Range of Values:

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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 Change Sq Ft Price
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
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 Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • C

    Seller's Agent in 2023

    Christie Abbott

    Lee & Associates Los Angeles West Inc.

    Section Image
  • D. Berel Bakaleynik

    Buyer's Agent in 2023

    D. Berel Bakaleynik

    D. Berel Bakaleynik

    (310) 988-0773

    1 in this area

    38 Total Sales

    D. Berel Bakaleynik
    Section Image
  • Elliot Hassan

    Seller's Agent in 2022

    Elliot Hassan

    NorthMarq Realty Services, Inc.

    (213) 943-1800

    1 in this area

    37 Total Sales

    Elliot Hassan
    Section Image
  • John Katnik

    Seller Co-Listing Agent in 2022

    John Katnik

    BRC Advisors- BH

    (310) 956-2291

    1 in this area

    71 Total Sales

    John Katnik
    Section Image
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Map

Source: The MLS

MLS Number: 22-214951

The MLS
California Los Angeles County Glendale 91202 Pelanconi

823 Highland Ave, Glendale, CA

This home is located at 823 Highland Ave, Glendale, CA 91202 since 03 November 2022. This property was built in 1948. 823 Highland Ave is a home located in Los Angeles County with nearby schools including Balboa Elementary School, Eleanor J. Toll Middle School, and Herbert Hoover High School.

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