1530 East Broadway

Glendale, CA 91205

$5,350,000
Last Sold Price
32
Beds
24
Baths
16,000 Sq. Ft.
$334 / Sq. Ft.
16,000
Sq. Ft.
$334
per Sq. Ft.

Description

We are pleased to present 1530 E. Broadway, a 16-unit apartment building located in the Citrus Grove neighborhood of Glendale. Built in 1960, this well maintained asset is comprised of balanced unit mix that includes (4) 1bed/1bath, (4) 2bed/1bath, (4) 2bed/2bath, and (4) 3bed/2bath units. Many of the units have received upgrades over the years that include laminate flooring, stone countertops, renovated kitchen cabinetry, bathroom upgrades and new windows. The property has gated access, on-site...We are pleased to present 1530 E. Broadway, a 16-unit apartment building located in the Citrus Grove neighborhood of Glendale. Built in 1960, this well maintained asset is comprised of balanced unit mix that includes (4) 1bed/1bath, (4) 2bed/1bath, (4) 2bed/2bath, and (4) 3bed/2bath units. Many of the units have received upgrades over the years that include laminate flooring, stone countertops, renovated kitchen cabinetry, bathroom upgrades and new windows. The property has gated access, on-site laundry, and 10 parking spaces. The roof was replaced in 2015 and receives annual maintenance to preserve its integrity. Tenancy at the property has been very stable over the years and current rents are about 32% below market rates. A new investor will have the ability to achieve market rents through annual rental increases (5%+ CPI) and implementing unit renovations when vacancies arise. Located just east of Verdugo Road, 1530 E. Broadway is within walking distance to Glendale High School. Tenants of the property are within a short driving distance to the shops and restaurants at Glendale Galleria, & Americana on Brand. It's proximity to the 2 and 134 freeways allows for ease of access to multiple health care centers in the city along with neighboring cities such as Eagle Rock, Pasadena, Atwater Village, Burbank, Downtown Los Angeles, and many other.
  1. Listed by Sevak Keshishian • DRE #01887505 • Brokerage DRE #01240999 • Marcus & Millichap

Property Details for 1530 East Broadway

Zoning
R2250
Parcel Number
5680025032
Total Units
16.0
Living Area
16000
Source Living Area
Vendor Enhanced
Area
Glendale-South of 134 Fwy (628)
Vacancy Rate
0
Lot Size Area
14306

Location

Listing Courtesy of Marcus & Millichap, Sevak Keshishian, DRE #01887505

Sold By Magic Realty, Sean Madadian, DRE #01066622

Add your commute
LISTING UPDATED: 10/02/2023 04:59 PM

Property Details for 1530 East Broadway

StatusSold
MLS #23-243867
Days on Market197
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1960
Lot Size0.33 AC / 14,306 SF
CountyLos Angeles County

Location

Listing Courtesy of Marcus & Millichap, Sevak Keshishian, DRE #01887505

Sold By Magic Realty, Sean Madadian, DRE #01066622

Add your commute

Building Information for 1530 East Broadway

Stories2Residences-Year Built1960Building Size-Lot Size0.33 AC / 14,306 SF

Payment Calculator

$32,545 per month

30 year fixed, 7.25% Interest

Principal and Interest

$29,197

Property Taxes

$3,348

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1530 East Broadway

Community / Development
Community / Development
  • Number Of Units: 16
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Standard
  • Water: District
  • Water Heater Features: Central Water Heater
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $375,948
  • Net Operating Income: $243,473.00
  • Gross Income: $385,596
  • Cap Rate: 4.27%
  • Gross Rent Multiplier: $14.78
  • Actual Annual Gross Rent: $385,596.00
  • Total Annual Expense: 132476
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.3267
  • Lot Size Square Feet: 14306
Parking Details
Parking Details
  • Parking Garage: Parking Space
  • Total Parking: 10
  • Parking Features: Parking Space
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Wall Unit(s)
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Range/Oven, Microwave, Refrigerator
  • Laundry: Community
  • Laundry Equipment: Own
Exterior Features
Exterior Features
  • Windows: Double Pane Windows
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 02-21-2023
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,781.00
  • Unit Actual Rent: $7,123.00
  • Unit Projected Rent: $8,000.00
  • Like Units: 4
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,111.00
  • Unit Actual Rent: $8,443.00
  • Unit Projected Rent: $10,000.00
  • Like Units: 4
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $1,987.00
  • Unit Actual Rent: $7,948.00
  • Unit Projected Rent: $10,400.00
  • Like Units: 4
Unit 4 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,155.00
  • Unit Actual Rent: $8,619.00
  • Unit Projected Rent: $12,800.00
  • Like Units: 4
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $1,386,185.00
  • Assessed Improvement Percent: 40.0
  • Assessed Land Value: $2,079,283.00
  • Assessed Land Percent: 60
  • Assessed Total Value: $3,465,468.00

Property History for 1530 East Broadway

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 1530 East Broadway

Taxable ValueLand$2,120,868Additions$1,413,908Total$3,534,776
Tax Record2023$40,179 ($3,348 / month)
Home Facts
Total Finished SqFt16,000 SqFtAbove Grade Finished SqFt16,000 SqFtLot Size14,306 SqFtStyleMulti-Family Res (5+ Units)Year Built1960ZoningGLR4YYCountyLOS ANGELESAPN5680-025-032

Schools near 1530 East Broadway

This home is within Glendale Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
John Marshall Elementary School
PublicK to 5

Woodrow Wilson Middle School
Public6 to 8

Glendale High School
Public9 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.

Similar 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, Sevak Keshishian, DRE #01887505

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.