$5,875,000
$5,895,000
0.3%For more information regarding the value of a property, please contact us for a free consultation.
1217 E Harvard ST Glendale, CA 91205
11,537 SqFt
Key Details
Sold Price $5,875,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
Square Footage 11,537 sqft
Price per Sqft $509
MLS Listing ID P1-4858
Sold Date 02/03/22
Construction Status Updated/Remodeled,Turnkey
HOA Y/N No
Year Built 1925
Lot Size 0.542 Acres
Acres 0.5425
Property Description
22 unit Spanish Colonial Revival Bungalow Court apartment on Harvard Street in Glendale, California. 22 1-bed/1-bath units, a central laundry room, 19 carports, 1 one-car garage, a large 300 sf storage room, and a smaller storage room. 20 of 22 units have been remodeled by its retired general contractor owner over the past 20 years. Rarely ever a vacancy or a late payer. 100% occupied. Tenants pay lower-than-market rents and have had no increases in a few years. Totaling 11,537 sf and situated on a 23,630 sqft flat lot. Separately metered electric and gas, copper plumbing, AC wall units, newer roofs. Easy to maintain....this property has been self managed for decades. Offering historic value as well as investment opportunity in one of LA's most attractive rental markets. Upsides include continued rent growth projections, eligible for significant Mills Act tax savings, raising rents, adding a yearly escalation clauses, interest on security deposits, charging for parking (half the tenants don't own a car), renting out 3 storage units, and converting carports into ADU's. Glendale is an entertainment and shopping destination in Los Angeles, synonymous with high-end retail and comfortable living. Americana at Brand is less than 1 mile away. Located in the southern portion of Glendale, closest to commerce, and in close proximity to schools and transportation (a few blocks from the 134 and 2 fwy's). Zoning R2250 - Medium Density Residential.
Location
State CA
County Los Angeles
Zoning R2250
Rooms
Other Rooms Storage
Ensuite Laundry Common Area
Interior
Interior Features Open Floorplan
Laundry Location Common Area
Heating Forced Air
Cooling Wall/Window Unit(s)
Fireplaces Type None
Fireplace No
Laundry Common Area
Exterior
Garage Attached Carport, Assigned, Carport, Garage
Garage Spaces 1.0
Carport Spaces 19
Garage Description 1.0
Fence Wrought Iron
Pool None
Community Features Biking, Curbs, Gutter(s), Park, Storm Drain(s), Street Lights, Suburban, Sidewalks
Utilities Available Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Underground Utilities, Water Connected
View Y/N No
View None
Roof Type Tile
Parking Type Attached Carport, Assigned, Carport, Garage
Total Parking Spaces 20
Private Pool No
Building
Lot Description Front Yard, Garden, Lawn, Landscaped, Level, Rectangular Lot, Street Level
Faces South
Story 2
Entry Level One,Two
Sewer Public Sewer
Water Public
Architectural Style Bungalow, Colonial, Spanish
Level or Stories One, Two
Additional Building Storage
New Construction No
Construction Status Updated/Remodeled,Turnkey
Others
Senior Community No
Tax ID 5680004012
Security Features Carbon Monoxide Detector(s),Smoke Detector(s)
Energy Description 5589.0
Acceptable Financing Cash, Cash to New Loan, Conventional, Submit
Listing Terms Cash, Cash to New Loan, Conventional, Submit
Financing Cash to New Loan,Other
Special Listing Condition Standard
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Bought with George Yessaie • JohnHart Real Estate