615 South Columbus Avenue
$6,400,000
1
13
8,620
8,620
$742
Description
California Court Bungalows, located at 615 S. Columbus Avenue, is a tastefully restored 13-unit California bungalow courtyard style asset located five blocks from the Glendale Americana. Current ownership has spent over $700,000 on capital improvements including new electric, plumbing and exterior work. The property is comprised of (12) 1 BD/1 BA units and (1) studio. All of the spacious units have been thoughtfully renovated to capitalize on the area’s strong tenant base. Current ownership has implemented...California Court Bungalows, located at 615 S. Columbus Avenue, is a tastefully restored 13-unit California bungalow courtyard style asset located five blocks from the Glendale Americana. Current ownership has spent over $700,000 on capital improvements including new electric, plumbing and exterior work. The property is comprised of (12) 1 BD/1 BA units and (1) studio. All of the spacious units have been thoughtfully renovated to capitalize on the area’s strong tenant base. Current ownership has implemented a RUBS program across all units to improve operational efficiencies, allowing new ownership to operate the asset at a sub 30% expense ratio. Eight existing garages and (5) surface spaces provide current income, and also have the potential to be converted into three (3) ADUs for additional rental revenue of approximately $34,605. Based on estimates, a new owner can achieve a return on cost of nearly 270% by raising rents to market and completing additional investment into the ADU construction. 615 S. Columbus Avenue offers a fully assumable loan at 5.18% with 5 years of fixed financing and 2 years of interest only payments remaining.
- Listed by Robert Stepp • DRE #01456379 • Brokerage DRE #01499010 • Keller Williams - Santa Monica • 310-463-2916
Property Details for 615 South Columbus Avenue
Parking Spaces Total
13
Private PoolNo
Total Units13.0
Building TypeAttached
Lot Size SourceAssessor
Living Area8620
Assessor Parcel Number5696-014-040
Property Attached YNtrue
LISTING UPDATED: 08/30/2024 02:40 AM
Property Details for 615 South Columbus Avenue
Status | Active |
---|---|
MLS # | PW23169851 |
Days on Market | 436 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Mixed Use |
MLS Type | Residential Income |
Year Built | 1923 |
Lot Size | 0.43 AC / 18,590 SF |
County | Los Angeles County |
Building Information for 615 South Columbus Avenue
Stories1Residences-Year Built1923Building Size-Lot Size0.43 AC / 18,590 SF
Property Information for 615 South Columbus Avenue
Property History for 615 South Columbus Avenue
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 615 South Columbus Avenue
Taxable ValueLand$1,729,719Additions$1,158,614Total$2,888,333
Tax Record2024$32,894 ($2,741 / month)
Home Facts
Total Finished SqFt8,620 SqFtAbove Grade Finished SqFt8,620 SqFtLot Size18,590 SqFtStyleMulti-Family Res (5+ Units)Year Built1923ZoningGLR4YYCountyLOS ANGELESAPN5696-014-040
Schools near 615 South Columbus Avenue
This home is within Glendale Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 6 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Public - | 7 to 10 |
Rating | School | Distance |
---|---|---|
Cerritos Elementary School PublicK to 6 | ||
Theodore Roosevelt Middle School Public6 to 8 | ||
Herbert Hoover High School Public9 to 12 | ||
Jewel City Community Day School Public7 to 10 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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