$2,175,000
$2,275,000
4.4%For more information regarding the value of a property, please contact us for a free consultation.
9,966 Sqft Lot
SOLD DATE : 12/07/2023
Key Details
Sold Price $2,175,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID GD23178970
Sold Date 12/07/23
HOA Y/N No
Year Built 1945
Lot Size 9,966 Sqft
Property Description
Trust sale. Reduced for immediate sale.
6.18 CAP Rate and 11.087 Gross multiplier.
This incredible property comprises 8 units, featuring 8 two-bedroom units with 16 parking spaces.
All units are currently leased, with rents ranging from $1,750.00 to $2,000.00.
Tujunga has recently experienced a lots of migration from Glendale and La Crescenta. This has led to a appreciation in property prices, a trend that has persisted and grown annually.
While numerous new apartment constructions, primarily condominiums, have emerged, the high demand for rentals, coupled with a limited
supply of available units, has driven a notable increase in rental rates, reaching up to 40%.
The property is being sold as trust sale and is not subject to court approval.
Opportunity to build ADU in the back of the lot
Location
State CA
County Los Angeles
Area 659 - Sunland/Tujunga
Zoning LARD2
Interior
Fireplace No
Laundry Common Area
Exterior
Pool None
Community Features Sidewalks
Total Parking Spaces 16
Private Pool No
Building
Lot Description 6-10 Units/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 2565009081
Acceptable Financing Trust Conveyance
Listing Terms Trust Conveyance
Financing Cash to Loan
Special Listing Condition Standard
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Bought with Arthur Mangassarian • Re/Max Tri-City Realty
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "