427 East Acacia Avenue

Glendale, CA 91205

$2,115,000
Last Sold Price
12
Beds
6
Baths
4,618 Sq. Ft.
$458 / Sq. Ft.
4,618
Sq. Ft.
$458
per Sq. Ft.

Description

Presented alongside the neighboring 421 E Acacia Avenue building, the two properties are available either individually or as a portfolio. The entire building consists of two bedroom apartments with rents ranging from $2,025 to $2,075, 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...Presented alongside the neighboring 421 E Acacia Avenue building, the two properties are available either individually or as a portfolio. The entire building consists of two bedroom apartments with rents ranging from $2,025 to $2,075, 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.
  1. Listed by Roderick 'Rick' Raymundo • DRE #01357019 • Brokerage DRE #01240999 • Marcus & Millichap

Property Details for 427 East Acacia Avenue

Zoning
GLR4YY
Parcel Number
5675027015
Total Units
6.0
Living Area
4618
Source Living Area
Vendor Enhanced
Area
Glendale-South of 134 Fwy (628)
Vacancy Rate
0
Lot Size Area
6855

Location

Listing Courtesy of Marcus & Millichap, Roderick 'Rick' Raymundo, DRE #01357019

Sold By The Agency, George Ouzounian, DRE #01948763; The Agency, Gina Michelle, DRE #01503003

Add your commute
LISTING UPDATED: 04/29/2024 01:46 PM

Property Details for 427 East Acacia Avenue

StatusSold
MLS #24-366387
Days on Market49
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1959
Lot Size0.16 AC / 6,855 SF
CountyLos Angeles County

Location

Listing Courtesy of Marcus & Millichap, Roderick 'Rick' Raymundo, DRE #01357019

Sold By The Agency, George Ouzounian, DRE #01948763; The Agency, Gina Michelle, DRE #01503003

Add your commute

Building Information for 427 East Acacia Avenue

Stories2Residences-Year Built1959Building Size-Lot Size0.16 AC / 6,855 SF

Payment Calculator

$12,044 per month

30 year fixed, 7.25% Interest

Principal and Interest

$11,542

Property Taxes

$502

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 427 East Acacia Avenue

Community / Development
Community / Development
  • Number Of Units: 6
  • 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: $145,887
  • Net Operating Income: $98,573.00
  • Gross Income: $146,700
  • Cap Rate: 4.62%
  • Gross Rent Multiplier: $14.21
  • Total Annual Expense: 47314
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1574
  • Lot Size Square Feet: 6855
Parking Details
Parking Details
  • Parking Garage: Assigned
  • Total Parking: 0
  • Parking Features: Assigned
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Other
  • Heating Type: Other
  • Equipment: None
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 03-11-2024
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,037.00
  • Unit Actual Rent: $12,225.00
  • Unit Projected Rent: $15,570.00
  • Like Units: 6
Unit Details
  • Unit Type Type: 2106
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $247,109.00
  • Assessed Improvement Percent: 52.23
  • Assessed Land Value: $226,014.00
  • Assessed Land Percent: 47.77
  • Assessed Total Value: $473,123.00

Property History for 427 East Acacia Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 427 East Acacia Avenue

Taxable ValueLand$226,014Additions$248,909Total$474,923
Tax Record2023$6,030 ($502 / month)
Home Facts
Total Finished SqFt4,618 SqFtAbove Grade Finished SqFt4,618 SqFtLot Size6,855 SqFtStyleMulti-Family Res (5+ Units)Year Built1959ZoningGLR4YYCountyLOS ANGELESAPN5675-027-015

Schools near 427 East Acacia Avenue

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 - 7 to 10
Rating
School
Distance
Horace Mann Elementary School
PublicK to 5

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

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

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

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.