Original listed price has been reduced by $900,000! The subject is a nine-unit woodframe and stucco luxury apartment building, constructed in 2021, with a convenient location in Tujunga, a suburban community within the City of Los Angeles. The subject is located just north of Foothill Boulevard and the Foothill (Interstate 210) Freeway, approximately one mile west of Glendale, two miles north of Burbank and less than eight miles from Pasadena. This stylish contemporary three-story building includes a central garage on the first story and an excellent mix of oversized two and three-bedroom units ranging up to 1,598 square feet in size in the second and third stories. The property has a center atrium, an elevator located in the lobby and a central garage with 21 vehicle spaces. Eight of the apartment units are one-level and one unit is two-story, townhouse-style. All units have contemporary kitchens with quartz countertops, dishwashers, gas range/ovens and microwave ovens. Bathrooms have luxury oversized state-of-the-art showers with full glass enclosures. Many rooms feature floor-to-ceiling windows. All units have recessed lighting, tankless water heaters, washer/dryers and central heating/air conditioning. Electricity and gas are separately metered to each unit. Zoning is LARD1.5. Eight of the units have no rental rate restriction. One two-bedroom unit is subject to restricted rate occupancy. Most units are rented on a month-to-month tenancy. Average rent per square foot is below comparable properties. As a nearly-new property with minimal rent control, there is potential to increase the capitalization rate and cash flow by increasing rental rates and decreasing operating expenses, perhaps by instituting a ratio utility billing system.Tujunga is located in the Crescenta Valley between the Verdugo and San Gabriel Mountains. It shares many municipal services with the community of Sunland which is adjacent to the west. Many residents are employed in the nearby cities of Glendale, Burbank and Pasadena. The area is served by the nearby Hollywood-Burbank Airport, a regional hub, as well as Los Angeles International Airport which is located approximately sixteen miles to the south.
|
DAYS ON MARKET
|
248
|
LAST UPDATED
|
9/28/2024
|
|
YEAR BUILT
|
2021
|
COMMUNITY
|
Sunland/Tujunga
|
|
GARAGE SPACES
|
21.0
|
COUNTY
|
Los Angeles
|
|
STATUS
|
Conditional
|
PROPERTY TYPE(S)
|
Residential Income
|
|
Prior to Apr 21, '24
|
$5,250,000
|
|
Apr 21, '24 - Jun 19, '24 |
$4,750,000
|
|
Jun 19, '24 - Jul 28, '24 |
$4,500,000
|
|
Jul 28, '24 - Sep 4, '24 |
$4,400,000
|
| Sep 4, '24 - Today |
$4,350,000 |
| AIR |
Central Air |
| AIR CONDITIONING |
Yes |
| APPLIANCES |
Built-In Range, Dishwasher, Disposal, Dryer, Gas Cooktop, Gas Oven, Gas Range, Microwave, Tankless Water Heater, Washer |
| AREA |
Sunland/Tujunga |
| CONSTRUCTION |
Drywall, Frame, Stucco |
| GARAGE |
Assigned, Community Structure, Concrete, Controlled Entrance, Driveway Level, Garage, Garage Faces Front, Gated, Private, Yes |
| HEAT |
Central, Forced Air |
| HOA DUES |
0 |
| INTERIOR |
Atrium, Bedroom on Main Level, Built-in Features, Elevator, Main Level Primary, Multiple Staircases, Open Floorplan, Quartz Counters, Recessed Lighting, Storage, Unfurnished |
| LOT |
0.27 acre(s) |
| LOT DESCRIPTION |
31-35 Units/Acre, Back Yard, Lawn, Level, Near Public Transit, Rectangular Lot, Sprinkler System, Yard |
| PARKING |
Assigned,Controlled Entrance,Concrete,Driveway Level,Garage Faces Front,Garage,Gated,Private,Community Structure |
| POOL DESCRIPTION |
None |
| SEWER |
Public Sewer |
| STORIES |
3 |
| STYLE |
Modern |
| UTILITIES |
Cable Available,Electricity Connected,Natural Gas Connected,Phone Connected,Sewer Connected,Water Connected, Electric: Electricity - On Property,220 Volts in Kitchen |
| VIEW |
Yes |
| VIEW DESCRIPTION |
Hills,Neighborhood |
| WATER |
Public |
| ZONING |
LARD1.5 |
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Listed with Carl Reinhart, Broker
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 10/30/24 8:22 PM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
This IDX solution is (c) Diverse Solutions 2024.
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