Bought with Kamran Mahdavi
$3,760,000
$3,600,000
4.4%For more information regarding the value of a property, please contact us for a free consultation.
0.31 Acres Lot
SOLD DATE : 10/20/2017
Key Details
Sold Price $3,760,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID CROC17154516
Sold Date 10/20/17
Year Built 1986
Lot Size 0.311 Acres
Source California Regional MLS
Property Description
Newer built(1986)14 units. Located in a secure gated building. Double lot with subterranean parking. There are 8 two bedroom one bath and 6 one bedroom one bath. Property has long term tenants and the lease amounts have not been properly adjusted for the past 12 years. Most of the units are on month to month lease contract. Units 13 and 14 information are combined due to input limitation. The pro-forma income is based on the current comps for the area, estimated at $273,600 after future rental adjustment. Operating expense will change to $90,000 and estimated net income will be $183,500. Estimated future cap rate = 5.09 Estimated future Gross multiplier = 13.15 Buyers are hereby advised to check the most current comps for more accurate projections.
Location
State CA
County Los Angeles
Area 626 - Glendale-Northwest
Interior
Laundry Community Facility, Washer/Dryer - Owned
Exterior
Parking Features Assigned Spaces
Garage Spaces 14.0
Pool None
Building
Lot Description Grade - Level
Story Three or More Stories
Water District - Public
Others
Special Listing Condition Not Applicable
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