1245 South Orange Street

Glendale, CA 91204

$2,450,000
Last Sold Price
16
Beds
8
Baths
7,680 Sq. Ft.
$319 / Sq. Ft.
7,680
Sq. Ft.
$319
per Sq. Ft.

Description

Containing exclusively two-bedroom units, the property provides a new owner the chance to dramatically improve cash flow as current rents are approximately 62% below market level. In-place rents average only $1.66 per square foot, while similar apartments in the area are achieving $2.60-$2.79 per square foot. The property sits approximately one mile from both the upscale Americana at Brand shopping center and the recently remodeled Glendale Galleria. Situated near the intersection of Central Avenue...Containing exclusively two-bedroom units, the property provides a new owner the chance to dramatically improve cash flow as current rents are approximately 62% below market level. In-place rents average only $1.66 per square foot, while similar apartments in the area are achieving $2.60-$2.79 per square foot. The property sits approximately one mile from both the upscale Americana at Brand shopping center and the recently remodeled Glendale Galleria. Situated near the intersection of Central Avenue and San Fernando Road, tenants enjoy convenient access to Griffith Park, Los Feliz, the Greek Theatre, and the Los Angeles Zoo. The soon-to-be-completed multi-million dollar North Atwater East Bank Riverway Project, which would provide a 2.2-mile pathway and connect to the Los Angeles River bike path, is only one mile from the building.
  1. Listed by Roderick 'Rick' Raymundo • DRE #01357019 • Brokerage DRE #01240999 • Marcus & Millichap
  2. Listed by Oscar Diaz • DRE #02022902 • Brokerage DRE #01240999 • Marcus & Millichap

Property Details for 1245 South Orange Street

Zoning
GLR4YY
Parcel Number
5640012017
Total Units
8.0
Living Area
7680
Source Living Area
Vendor Enhanced
Area
Glendale-South of 134 Fwy (628)
Vacancy Rate
1
Lot Size Area
8482

Location

Listing Courtesy of Marcus & Millichap, Roderick 'Rick' Raymundo, DRE #01357019; Marcus & Millichap, Oscar Diaz, DRE #02022902

Sold By Marcus & Millichap, Roderick 'Rick' Raymundo, DRE #01357019; Marcus & Millichap, Oscar Diaz, DRE #02022902

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LISTING UPDATED: 05/05/2023 09:28 AM

Property Details for 1245 South Orange Street

StatusSold
MLS #22-135585
Days on Market174
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1927
Lot Size0.19 AC / 8,482 SF
CountyLos Angeles County

Location

Listing Courtesy of Marcus & Millichap, Roderick 'Rick' Raymundo, DRE #01357019; Marcus & Millichap, Oscar Diaz, DRE #02022902

Sold By Marcus & Millichap, Roderick 'Rick' Raymundo, DRE #01357019; Marcus & Millichap, Oscar Diaz, DRE #02022902

Add your commute

Building Information for 1245 South Orange Street

Stories2Residences-Year Built1927Building Size-Lot Size0.19 AC / 8,482 SF

Payment Calculator

$15,673 per month

30 year fixed, 7.25% Interest

Principal and Interest

$13,371

Property Taxes

$2,302

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1245 South Orange Street

Community / Development
Community / Development
  • Number Of Units: 8
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Residential
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $148,701
  • Net Operating Income: $91,309.00
  • Gross Income: $153,300
  • Gross Rent Multiplier: $17.81
  • Total Annual Expense: 57392
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1951
  • Lot Size Square Feet: 8482
  • Lot Size Dimensions: 50x170
  • Source Lot Size Dimensions: Vendor Enhanced
Parking Details
Parking Details
  • Parking Garage: Assigned
  • Total Parking: 8
  • Parking Features: Assigned
Interior Features
Interior Features
  • Cooling Type: Other
  • Heating Type: Other
  • Equipment: Other
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: Other
Lease Terms
Lease Terms
  • Entry Date: 03-11-2022
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,596.00
  • Unit Actual Rent: $12,775.00
  • Unit Projected Rent: $20,800.00
  • Like Units: 8
Unit Details
  • Unit Type Type: 2106
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $377,932.00
  • Assessed Improvement Percent: 40.0
  • Assessed Land Value: $566,907.00
  • Assessed Land Percent: 60
  • Assessed Total Value: $944,839.00

Property History for 1245 South Orange Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 1245 South Orange Street

Taxable ValueLand$980,000Additions$1,470,000Total$2,450,000
Tax Record2023$27,627 ($2,302 / month)
Home Facts
Total Finished SqFt7,680 SqFtAbove Grade Finished SqFt7,680 SqFtLot Size8,499 SqFtStyleMulti-Family Res (5+ Units)Year Built1927ZoningGLR4YYCountyLOS ANGELESAPN5640-012-017

Schools near 1245 South Orange Street

This home is within Glendale Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Public - 6 to 8
Public - 9 to 12
Public - 7 to 10
Rating
School
Distance
Cerritos Elementary School
PublicK to 6

Theodore Roosevelt Middle School
Public6 to 8

Glendale High School
Public9 to 12

Jewel City Community Day School
Public7 to 10

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.

Similar Homes

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Similar Sold Homes

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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 expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Marcus & Millichap, Roderick 'Rick' Raymundo, DRE #01357019; Marcus & Millichap, Oscar Diaz, DRE #02022902

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.