$2,175,000
$2,275,000
4.4%For more information regarding the value of a property, please contact us for a free consultation.
2 Beds
1 Bath
SOLD DATE : 12/07/2023
Key Details
Sold Price $2,175,000
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID GD23178970
Sold Date 12/07/23
Bedrooms 2
Property Sub-Type Res Income 2-4 Units
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
Zoning Assessor
Direction Lowell North to Foothill left turn right on Commerce
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
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Bought with Arthur Mangassarian Re/Max Tri-City Realty
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