NOT LISTED FOR SALE
8 Beds
4 Baths
4,600 Sq Ft
8,610 Sq Ft Lot

Last Sold June 05, 2024

Last sale price $1,302,500 $283 Per Sq Ft

13 Days on Market

About This Home

As of June 2024

6 units North of Glendale community College in the prestigious Verdugo Woodland community with all-star’s schools.
All units are remodeled, have 2 bedrooms, one bathroom with laminate flooring and ceramic tile and granite countertops in the kitchen with energy efficient dual pane windows and sliding doors. The second-floor units have high ceilings with exposed beams.

One unit has a private backyard, one has a covered patio serving as a third room and the other 4 units have open patios.
The building has 6 covered parking spots with storage bins behind and a laundry facility on premises.
One unit will be delivered vacant. Property will have at least 15% upside potential.

There might be possibility based on new rules and regulation to add one or 2 ADU where the garages are (Buyer to check with city and satisfy itself)

Last Listed By

Arthur Mangassarian

Re/Max Tri-City Realty Brokerage Phone: 818-636-8899 License #00751703 Listed on: 03/14/2024

Re/Max Tri-City Realty

Property Details

Home Type

  • Apartment

Year Built

  • Built in 1956

Lot Details

  • 8,610 Sq Ft Lot
  • No Common Walls

Parking

  • 6 Car Garage
  • Carport
  • Parking Available
  • Assigned Parking

Interior Spaces

  • 4,600 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 4 Bathrooms

Listing and Financial Details

  • Tax Lot 40
  • Tax Tract Number 14960
  • Assessor Parcel Number 5653020010
  • $902 per year additional tax assessments

Community Details

Overview

  • 6 Units

Building Details

  • Rent Control
  • 6 Separate Electric Meters
  • 6 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $770
  • Insurance Expense $5,400
  • Maintenance Expense $2,700
  • Trash Expense $3,400
  • Water Sewer Expense $3,900
  • New Taxes Expense $25,245
  • Operating Expense $41,415
  • Gross Income $162,000
  • Net Operating Income $162,000

Property Details

Home Type

Apartment

Year Built

Built in 1956

Lot Details

0

Parking

6

Listing Details

  • CapRate: 5.04
  • Price Per Unit: 382500
  • Property Attached: No
  • Water Sewer Expenses: 3900.00
  • Zoning: GLR3*
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Gardener Expense: 770.00
  • Parcel Number: 5653020010
  • Year Built: 1956
  • Special Features: None

Interior Features

  • Stories: 2
  • Entry Location: 1
  • Common Walls: No Common Walls
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 283.15

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 6.00
  • Parking: Yes
  • Parking Features: Assigned, Carport
  • Total Parking Spaces: 6.00

Utilities

  • Laundry: Yes
  • Laundry Features: Individual Room
  • Sewer: Public Sewer
  • Trash Expense: 3400.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Curbs

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Lot 6500-9999
  • Lot Size Sq Ft: 8610.00
  • Lot Size Acres: 0.1977
  • Latitude Manual: 34.17877800

Multi Family

  • Gross Income: 162000.00
  • Gross Scheduled Income: 162000.00
  • Insurance Expense: 5400.00
  • Lot Size Area: 8610.0000 Square Feet
  • Maintenance Expense: 2700.00
  • Net Operating Income: 162000.00
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 6
  • Operating Expense: 41450.00
  • Rent Control: Yes
  • Total Expenses: 41415.00

Tax Info

  • New Taxes Expense: 25245.00
  • Tax Census Tract: 3008.00
  • Tax Lot: 40
  • Tax Tract Number: 14960
  • TaxOtherAnnualAssessmentAmount: 902.00

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
06/05/2024 06/05/24 Sold $1,302,500 -43.2% $283 / Sq Ft
03/14/2024 03/14/24 For Sale $2,295,000 -- $499 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: GD24048655

California Regional Multiple Listing Service (CRMLS)