$1,750,000
$1,685,000
3.9%For more information regarding the value of a property, please contact us for a free consultation.
9,029 Sqft Lot
SOLD DATE : 10/01/2019
Key Details
Sold Price $1,750,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Not Applicable-105
MLS Listing ID 319003579
Sold Date 10/01/19
HOA Y/N No
Year Built 1929
Lot Size 9,029 Sqft
Property Description
The property has been well maintained by the current owner. As a result the subject, in its current condition, benefits from lower expenses, maintenance costs, and repair charges. The roof was recently changed to a new cool roof.The location has a Walk Score of 80 out of 100. This means that the location is very walkable. Most errands can be accomplished on foot. Schools and parks are all within walking distance. According to Zip Atlas, the subject is located in the densest zip code in the Tri-City areas of Glendale, Burbank and Pasadena. Indeed the publication states that 91205 zip code is ranked 166th in density amongst 30,000 + zip codes nationally! This density alone is conducive to the business of apartment building rental.The demographics traits are also favorable. The two dominant tapestry/demographics groups surrounding the property are: City Lights and Downtown Melting Pot. 47.5% and 68.3% of the population respectively are renters vs. 36.4% of U.S. Population. With an average of 2.6 persons per household, the socioeconomic traits of these groups are contributive to the business of multifamily rentals.The employment backdrop is equally impressive. Over 1000 high tech firms employ 40000 employees in Glendale and surrounding areas.
Location
State CA
County Los Angeles
Area 628 - Glendale-South Of 134 Fwy
Zoning GLR4YY
Interior
Flooring Tile, Wood
Fireplace No
Exterior
Garage Carport
View Y/N No
Total Parking Spaces 4
Private Pool No
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Tax ID 5679009004
Acceptable Financing Cash
Listing Terms Cash
Financing Cash to Loan
Special Listing Condition Standard
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Bought with Greg Astorian • Re/Max Tri-City Realty
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
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