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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
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© 2024 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Bought with ArthurMangassarian
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Parisa Samimi
Founder & Real Estate Broker | License ID: 01858122
Founder & Real Estate Broker License ID: 01858122