3214 Verdugo Rd

Los Angeles, CA 90065

$1,550,000
Last Sold Price
10
Beds
8
Baths
6,053 Sq. Ft.
$256 / Sq. Ft.
6,053
Sq. Ft.
$256
per Sq. Ft.
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Sold 10/24/24
Sold 10/24/24
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Description

We are proud to present this exceptional investment opportunity: an 8-unit multi-family property located in the heart of Glassell Park! The seller is open to carrying financing for qualified buyers. This property features 100% single-story units spread across an expansive 20,002 square-foot lot. Seven of the eight units were constructed between 1948 and 1952, while one unit dates back to 1921. The property comprises five detached buildings, offering (6) 1-bedroom, 1-bath units, (1) 2-bedroom, 1-bath...We are proud to present this exceptional investment opportunity: an 8-unit multi-family property located in the heart of Glassell Park! The seller is open to carrying financing for qualified buyers. This property features 100% single-story units spread across an expansive 20,002 square-foot lot. Seven of the eight units were constructed between 1948 and 1952, while one unit dates back to 1921. The property comprises five detached buildings, offering (6) 1-bedroom, 1-bath units, (1) 2-bedroom, 1-bath unit, and (1) 2-bedroom, 1-bath unit with a den. Totaling approximately 6,053 rentable square feet, the property also includes both carport/2 car garage and ample on-site parking for tenants. The property is individually metered for Water, Gas, and Electric, allowing for minimal landlord expenses. For the savvy investor, there's significant value-add potential, including the possibility of adding ADUs, with an estimated upside of 135% (buyer to verify feasibility). The property is zoned RD2-1-CDO-HCR. Situated in the vibrant core of Glassell Park, this property boasts a walk score of 76, meaning most daily errands can be done on foot. It's strategically positioned near Glendale, Atwater Village, Highland Park, and Eagle Rock, and just minutes from Silver Lake, Echo Park, and Downtown LA. Disclosure: Buyers are encouraged to conduct thorough due diligence, including verification of building square footage, lot size, legal bedroom/bathroom count, parking, unit mix, year built, zoning, market rents, and ADU or additional unit feasibility. Please do not disturb tenants or walk on the property-drive by only
  1. Listed by Eric Dilanian • DRE #01951699 • Brokerage DRE #01164364 • Remax Commercial and Investment Realty

Property Details for 3214 Verdugo Road

Zoning
LARD2
Parcel Number
5456002012
Total Units
8.0
Living Area
6053
Source Living Area
Assessor
Area
Glassell Park (623)
Vacancy Rate
0
Lot Size Area
20002
LISTING UPDATED: 10/24/2024 12:04 PM

Property Details for 3214 Verdugo Road

StatusSold
MLS #24-443531
Days on Market17
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1948
Lot Size0.46 AC / 20,002 SF
CountyLos Angeles County
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Location

Listing Courtesy of Remax Commercial and Investment Realty, Eric Dilanian, DRE #01951699

Sold By Remax Commercial and Investment Realty, Eric Dilanian, DRE #01951699

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Building Information for 3214 Verdugo Road

Stories1Residences-Year Built1948Building Size-Lot Size0.46 AC / 20,002 SF

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$9,541 per month

30 year fixed, 6.46% Interest

Principal and Interest

$7,805

Property Taxes

$1,736

HOA Dues

$0

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Property Information for 3214 Verdugo Road

Community / Development
Community / Development
  • Number Of Units: 8
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Other
  • Number Of Stories: 1
  • Number Of Buildings: 5
  • Type Of Units: Apartments
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $109,368
  • Net Operating Income: $63,798.00
  • Gross Income: $109,368
  • Gross Scheduled Income: $109,368
  • Cap Rate: 4.25%
  • Gross Rent Multiplier: $13.72
  • Total Annual Expense: 45570
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.4593
  • Lot Size Square Feet: 20002
  • Lot Size Dimensions: 80x250
  • Source Lot Size Dimensions: Assessor
Parking Details
Parking Details
  • Parking Garage: Carport, Garage - 2 Car
  • Total Parking: 8
  • Garage Spaces Total: 2
  • Carport Spaces Total: 6
  • Parking Features: Carport, Garage - Two Door
  • Garage Structures Total: 1.0
Interior Features
Interior Features
  • Levels: One
  • Cooling: Wall Unit(s)
  • Cooling Type: Wall Unit(s)
  • Heating: Other
  • Heating Type: Other
  • Equipment: None
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: Other
Lease Terms
Lease Terms
  • Entry Date: 09-23-2024
  • Rent Control: Yes
  • Rent Control: 100
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,129.00
  • Unit Actual Rent: $6,776.00
  • Unit Projected Rent: $11,100.00
  • Like Units: 6
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,225.00
  • Unit Actual Rent: $1,225.00
  • Unit Projected Rent: $2,650.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,113.00
  • Unit Actual Rent: $1,113.00
  • Unit Projected Rent: $2,600.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $147,938.00
  • Assessed Improvement Percent: 28.92
  • Assessed Land Value: $363,668.00
  • Assessed Land Percent: 71.08
  • Assessed Total Value: $511,606.00

Property History for 3214 Verdugo Road

DateEvent & SourcePriceAppreciation
Oct 24, 2024

Sold

SDMLS #24-443531

$1,550,000—
Oct 24, 2024

Sold

CRMLS #24443531

$1,550,000—
Oct 24, 2024

Sold

CLAW #24-443531

$1,550,000—
Oct 21, 2024

Sold (Public Record)

Public Record #1543134902

$1,550,000—
Oct 10, 2024

Pending

CLAW #24-443531

—
Oct 10, 2024

Pending

CRMLS #24443531

—
Oct 10, 2024

Pending

SDMLS #24-443531

—
Sep 23, 2024

Listed (Active)

CRMLS #24443531

$1,500,000—
Sep 23, 2024

Listed (Active)

SDMLS #24-443531

$1,500,000—
Sep 23, 2024

Listed (Active)

CLAW #24-443531

$1,500,000—
DateEvent & SourcePrice
10/24/2024

Sold

SDMLS #24-443531

$1,550,000
10/24/2024

Sold

CRMLS #24443531

$1,550,000
10/24/2024

Sold

CLAW #24-443531

$1,550,000
10/21/2024

Sold (Public Record)

Public Record #1543134902

$1,550,000
10/10/2024

Pending

CLAW #24-443531

—
10/10/2024

Pending

CRMLS #24443531

—
10/10/2024

Pending

SDMLS #24-443531

—
09/23/2024

Listed (Active)

CRMLS #24443531

$1,500,000
09/23/2024

Listed (Active)

SDMLS #24-443531

$1,500,000
09/23/2024

Listed (Active)

CLAW #24-443531

$1,500,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 3214 Verdugo Road

Taxable ValueLand$850,000Additions$700,000Total$1,550,000
Tax Record2025$20,834 ($1,736 / month)
Home Facts
Total Finished SqFt6,053 SqFtAbove Grade Finished SqFt6,053 SqFtLot Size20,002 SqFtStyleMulti-Family Res (5+ Units)Year Built1921ZoningLARD2CountyLOS ANGELESAPN5456-002-012

Schools near 3214 Verdugo Road

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Fletcher Drive Elementary School
Public - K to 5
Glassell Park Elementary School
Public - K to 5
Benjamin Franklin Senior High School
Public - 6 to 12
Eagle Rock High School
Public - 7 to 12
Rating
School
Distance
Fletcher Drive Elementary School
PublicK to 5

Glassell Park Elementary School
PublicK to 5

Benjamin Franklin Senior High School
Public6 to 12

Eagle Rock High School
Public7 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Remax Commercial and Investment Realty, Eric Dilanian, DRE #01951699

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.