823 Highland Avenue

Glendale, CA 91202

$4,750,000
Last Sold Price
16
Beds
16
Baths
8,494 Sq. Ft.
$559 / Sq. Ft.
8,494
Sq. Ft.
$559
per Sq. Ft.

Description

We are pleased to present the opportunity to purchase a 16-unit two-story multi-family site in the desirable community of Pelanconi in Glendale, CA. The property is non-rent controlled and features one-bedroom units consisting of approximately 8,494 of net rentable squarefeet on 15,893 square feet of land. The charming garden style building is well located within a mostly single-family home residential neighborhood. Because of the lack of smaller rentals these one-bedrooms are higly sought after...We are pleased to present the opportunity to purchase a 16-unit two-story multi-family site in the desirable community of Pelanconi in Glendale, CA. The property is non-rent controlled and features one-bedroom units consisting of approximately 8,494 of net rentable squarefeet on 15,893 square feet of land. The charming garden style building is well located within a mostly single-family home residential neighborhood. Because of the lack of smaller rentals these one-bedrooms are higly sought after and rarely have vacancy. Local public schools are higly rated makingthis community a draw for familes as well. It's central location allows for an easy commute to many strong employment hubs within the film industry,industrial sector as well as Downtown Los Angeles. Originally built in 1948, the property has undergone light renovations over the years supporting it's retro charm. Many units have original hardwood floors,clean art-deco tiled bathrooms and kitchens while units that have been renovated have been replaced with luxury vinyl plank flooring. These thoughtful renovations create a perfect balance of both modern and retro appointments and is positioned quite well for additional improvements to be made as tenants roll-over. The large parking area in the rear of the building supports an opportunity for a major renovation by providing additional units and/or improvements for existing units. Glendale is a well established city in Los Angeles County for its strong demographics, Diversity and close proximity to Burbank and Los Angeles while offering a more niche community feel.
  1. Listed by Christie Abbott • DRE #01985617 • Brokerage DRE #01938098 • Lee & Associates Los Angeles West Inc.

Property Details for 823 Highland Avenue

Zoning
GLR1YY
Parcel Number
5628036016
Total Units
16.0
Living Area
8494
Source Living Area
Vendor Enhanced
Area
Glendale-Northwest (626)
Vacancy Rate
0
Lot Size Area
15869

Location

Listing Courtesy of Lee & Associates Los Angeles West Inc., Christie Abbott, DRE #01985617

Sold By The Bienstock Group, D. Berel Bakaleynik, DRE #01994255

Add your commute
LISTING UPDATED: 05/10/2023 02:07 PM

Property Details for 823 Highland Avenue

StatusSold
MLS #22-214951
Days on Market148
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1948
Lot Size0.36 AC / 15,869 SF
CountyLos Angeles County

Location

Listing Courtesy of Lee & Associates Los Angeles West Inc., Christie Abbott, DRE #01985617

Sold By The Bienstock Group, D. Berel Bakaleynik, DRE #01994255

Add your commute

Building Information for 823 Highland Avenue

Stories2Residences-Year Built1948Building Size-Lot Size0.36 AC / 15,869 SF

Payment Calculator

$25,945 per month

30 year fixed, 7.25% Interest

Principal and Interest

$25,923

Property Taxes

$22

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 823 Highland Avenue

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: 2
  • Type Of Units: 1+1
  • Security Features: Resident Manager
  • Water Heaters: Yes
Contract Info
Contract Info
  • Probate: No
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $331,564
  • Net Operating Income: $224,180.00
  • Gross Income: $339,778
  • Gross Rent Multiplier: $15.45
  • Financial Info as Of: 11/01/2022
  • Vacancy Allow Percent: 3.00%
  • Total Annual Expense: 107384
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.3643
  • Lot Size Square Feet: 15869
  • Lot Location: Corner Lot
Parking Details
Parking Details
  • Parking Garage: Parking Space, Uncovered
  • Total Parking: 16
  • Parking Features: Parking Space, Uncovered
Interior Features
Interior Features
  • Cooling Type: Window Unit(s)
  • Heating: Combination
  • Heating Type: Combination
  • Flooring: Hardwood, Vinyl Plank
  • Equipment: Range/Oven, Refrigerator
  • Laundry: Room, Laundry Area
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: Other
Lease Terms
Lease Terms
  • Entry Date: 11-04-2022
  • Rent Control: No
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1.00
  • Unit Actual Rent: $1.00
  • Unit Projected Rent: $1.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $1,067,730.00
  • Assessed Improvement Percent: 59.97
  • Assessed Land Value: $712,745.00
  • Assessed Land Percent: 40.03
  • Assessed Total Value: $1,780,475.00

Property History for 823 Highland 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 823 Highland Avenue

Taxable ValueLand$20,400Additions-Total$20,400
Tax Record2023$262 ($22 / month)
Home Facts
Beds0Lot Size589 SqFtStyleResidentialZoningGLRICountyLOS ANGELESAPN5628-036-015

Schools near 823 Highland Avenue

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 - K to 5
Rating
School
Distance
Balboa Elementary School
PublicK to 6

Eleanor J. Toll Middle School
Public6 to 8

Herbert Hoover High School
Public9 to 12

Mark Keppel Elementary School
PublicK to 5

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 Lee & Associates Los Angeles West Inc., Christie Abbott, DRE #01985617

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.