Address
1217 E Harvard Street Glendale, CA
Price
$ 5,895,000
Property Attributes
  • MLS#P14858
  • TypeContingent
  • CountyLOS ANGELES
  • CityGlendale
  • NeighborhoodNot Applicable
  • Zip91205
  • StyleBungalow,Colonial,Spanish
  • Price$ 5,895,000
  • Bedrooms1
  • Full Bathrooms1
  • Half Bathrooms0
  • Sqr Footage11537
  • Lot Size0.54 Acres
Listing Provided Courtesy Of:
Michael Bell with Sotheby's International Realty, Inc. - (626) 796-4100
Data Source:
I-Tech MLS - 227 - CA
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.

Price History
5/21/2021 Listed $6,050,000
8/9/2021 2% - $5,975,000
10/1/2021 2% - $5,895,000

General Features

Architectural Style Bungalow, Colonial, Spanish
Carport Spaces 19
Carport Y/N Yes
Community Features Biking, Curbs, Gutter(s), Park, Storm Drain(s), Street Lights, Suburban, Sidewalks
Construction Materials Stucco, Copper Plumbing
Cooling Wall/Window Unit(s)
Facing Direction South
Garage Spaces 1
Garage Y/N Yes
Heating Forced Air
Interior Features Open Floorplan
Levels One, Two
Listing Agent Michael Bell - BRE#01164731
Listing Agent State License 01164731
Lot Size Square Feet 23630
Other Structures Storage
Pool Features None
Property Attached Y/N Yes
Property Sub Type Additional Apartment
Property SubType Apartment
Property Type Residential Income
PropertyCondition Updated/Remodeled, Turnkey
Roof Tile
Security Features Carbon Monoxide Detector(s), Smoke Detector(s)
Senior Community Y/N No
Sewer Public Sewer
Spa Features None
Special Listing Conditions Standard
Status Active Under Contract
Stories 1
Subdivision Name Not Applicable
Terms Cash, Cash to New Loan, Conventional, Submit
Total Actual Rent 32300
Total Units 22
Utilities Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Underground Utilities, Water Connected
View None
Zoning R2250

Interior Features

Air Conditioning Y/N Yes
Common Walls 2+ Common Walls
Fireplace Features None
Heating Y/N Yes
Laundry Features Common Area

Exterior Features

Fencing Wrought Iron
Lot Features Front Yard, Garden, Lawn, Landscaped, Level, Rectangular Lot, Street Level
Lot Size Acres 0.54
Lot Size Area 23630
Lot Size Source Assessor
Lot Size Units Square Feet
Number of Buildings 1
Number of Separate Electric Meters 22
Number of Separate Gas Meters 22
Parking Features Attached Carport, Assigned, Carport, Garage
Road Frontage Type City Street
Road Surface Type Maintained, Paved
Total Parking 20
Water Source Public

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Contingent Average in 91205

Price
AVG $1.58M
$5.9M
Visits
AVG 63
310
Year Built
AVG 1945
1925
Walkscore
AVG 86
93
Data Provided by Walkscore ® not using MLS data