$2,870,000 Price Analysis   ♡   Glendale, CA 91205 16 bed 8 bath 6,206 SqFt ($462/SqFt) 0.23 acre lot. Built 1953 Listed 2024-03-11, Taxes $7,834 | Ⓧ USDA Ineligible due to price & location near Glendale |
Presented alongside the neighboring 427 E Acacia Avenue building
The two properties are availabl e either individually or as a portfolio. The entire building consists of two bedroom apartments with rents rnging from $2, 025 to $2, 100, while similar properties are achieving rents above $2, 700. A new investor may be able to capture the approximately 27% rent upside more rapidly as the property is granted higher allowable rent increases via AB 1482, when compared to other assets subject to Los Angeles rent control.
The buildings are surrounded by attractive shopping and dining options. Mere blocks east, tenants can enjoy boutiques, coffeeshops and restaurants in historic Adams Square. Several retailers and restaurants line both Glendale Avenue and Brand Boulevard, both major streets being within two blocks of the property. Less than one mile north are both the upscale Americana at Brand shopping center and the recently remodeled Glendale Galleria shopping mall.
Presented by Roderick 'Rick' Raymundo at
Marcus & Millichap.
Property MLS #24-366386 from TheMLSCLAW
Full Bathrooms: 8
Lot Size Source: Assessor
Lot Size Square Feet: 10211
Calculated Total Monthly Association Fees: 0
Number of Units: 8
Unit Features: 1 BedsTotal: 2, 1 BathsTotal: 1, 1 SquareFeet: 20760
County: Los Angeles
Cap Rate: 4.69
Directions: We are pleased to announce the opportunity to purchase 421 E Acacia Avenue, an eight-unit multifamily property situated near the pristine Adams Hill neighborhood in thriving Glendale, CA.
Source Property Type: Residential Income
Area: Glendale-South of 134 Fwy
Source Neighborhood: Glendale-South of 134 Fwy
Parcel Number: 5675-027-014
Postal Code Plus 4: 5625
Zoning: GLR4YY
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $351,588 + $265,905 $617,493 | $7,834 |
| 2021 | $344,695 + $260,692 $605,387 | $7,679 |
| 2020 | $341,161 + $258,019 $599,180 | $7,576 |
| 2019 | $334,472 + $252,960 $587,432 | $7,414 |
| 2018 | $327,914 + $248,000 $575,914 | $7,141 |
| 2017 | $321,485 + $243,138 $564,623 | $6,996 |
| 2016 | $315,182 + $238,371 $553,553 | $6,728 |
| 2015 | $310,448 + $234,791 $545,239 | $6,604 |
| 2014 | $304,367 + $230,192 $534,559 | $6,603 |
| 2013 | $302,992 + $229,152 $532,144 | $6,474 |
| 2012 | $297,051 + $224,659 $521,710 | $6,394 |
| 2010 | $291,227 + $220,254 $511,481 | $6,073 |
| 2009 | $289,738 + $219,128 $508,866 | $6,127 |
| 2009 | $289,051 + $218,608 $507,659 | $6,127 |
| 2008 | $284,057 + $214,832 $498,889 | $6,005 |
| 2007 | $278,488 + $210,620 $489,108 | $5,853 |
$2,870,000
TheMLSCLAW
Listing removed 2024-02-14
$0
TheMLSCLAW
Price Changed 2024-01-10
$5,065,000
TheMLSCLAW
Relisted 2023-11-16
$5,200,000
TheMLSCLAW
Listing removed 2023-11-15
$0
TheMLSCLAW
Listed 2023-09-15
$5,200,000
TheMLSCLAW
Sold 1999-04-16
$732,000
Public Record
Sold 1986-09-19
$605,000
Public Record
Year Built: 1953
Levels: Two Level
Living Area Source: Vendor Enhanced
Property Age: 71
Levels or Stories: 2
Building Total Stories: 2
Year Built Source: Vendor Enhanced
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.