Tujunga (los Angeles), CA 91042,10427 Commerce Avenue
$2,175,000
Est. payment /mo
$2,275,000
4.4%
Est.Price: ?

For more information regarding the value of a property, please contact us for a free consultation.

5,800 SqFt
SOLD DATE : 12/07/2023

Key Details

Sold Price $2,175,000

Property Type Commercial

Sub Type Other

Listing Status Sold

Purchase Type For Sale

Square Footage 5,800 sqft

Price per Sqft $375

MLS Listing ID CRGD23178970

Sold Date 12/07/23

HOA Y/N No

Year Built 1945

Lot Size 9,967 Sqft

Acres 0.23

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 Listing

Zoning LARD

Interior

Fireplace No

Laundry Other

Building

Sewer Public Sewer

Water Public

New Construction No

Others

Tax ID 2565009081

Read Less Info

Want to know what your home might be worth? Contact us for a FREE valuation!

Submit

Our team is ready to help you sell your home for the highest possible price ASAP


Bridge MLS
Listed by Arthur Mangassarian • Re/Max Tri-City Realty
Bought with ArthurMangassarian

GET MORE INFORMATION

Parisa Samimi

+1(510) 410-4050

Founder & Real Estate Broker | License ID: 01858122

Founder & Real Estate Broker License ID: 01858122

Name

Phone*

Message

By registering you agree to our Terms of Service & Privacy Policy. Consent is not a condition of buying a property, goods, or services.