950 North Louise Street

Glendale, CA 91207

$9,950,000
Price
52
Beds
49
Baths
34,700 Sq. Ft.
$287 / Sq. Ft.
34,700
Sq. Ft.
$287
per Sq. Ft.

Description

A truly unique and rare opportunity to purchase a twenty-five (25) unit apartment building located in prime Glendale, resting in the hills above Glenoaks. Originally constructed in 1967, the property features one building with three floors. The property features large and spacious units with an average size of 1,388 square feet and a unit mix of twenty-one (21) 2 bedroom 2 bathroom units, three (3) 3 bedroom 2 bathroom units, and one (1) 1 bedroom 1 bathroom non-conforming unit. Each unit comes with...A truly unique and rare opportunity to purchase a twenty-five (25) unit apartment building located in prime Glendale, resting in the hills above Glenoaks. Originally constructed in 1967, the property features one building with three floors. The property features large and spacious units with an average size of 1,388 square feet and a unit mix of twenty-one (21) 2 bedroom 2 bathroom units, three (3) 3 bedroom 2 bathroom units, and one (1) 1 bedroom 1 bathroom non-conforming unit. Each unit comes with a storage locker (located in the laundry room), one assigned parking space (select units have 2 spaces, and a private patio/balcony. Landlord pays electrical utility bill for the for the common AC System. Each unit has its own thermostat and coil system. The laundry machines are owned. Seventeen (17) units have been upgraded over the years with hardwood floors and granite countertops. Common area amenities included secured parking and on-site coin operated laundry facilities, common A/C Tower with Chiller and common boiler. Units are separately metered for electricity, and do not feature gas. The only gas portion of the building is for the boiler. Ownership has spent over $1,000,000 on capital improvements.
  1. Listed by Andy Anubhav Kawatra • DRE #01881930 • Brokerage DRE #01881930 • Andy Anubhav Kawatra

Property Details for 950 North Louise Street

Zoning
R1250
Parcel Number
5644015064
Total Units
25.0
Living Area
34700
Source Living Area
Vendor Enhanced
Area
Rossmoyne & Verdugo Woodlands
Vacancy Rate
3
Lot Size Area
17038
LISTING UPDATED: 11/18/2024 08:36 AM

Property Details for 950 North Louise Street

StatusPending
MLS #24-416677
Days on Market129
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1967
Lot Size0.39 AC / 17,038 SF
CountyLos Angeles County

Building Information for 950 North Louise Street

Stories3Residences-Year Built1967Building Size-Lot Size0.39 AC / 17,038 SF

Property Information for 950 North Louise Street

Community / Development
Community / Development
  • Number Of Units: 25
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 3
  • Number Of Buildings: 1
  • Type Of Units: Apartment
  • Security Features: Card/Code Access
  • Water Heaters: Yes
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $773,420
  • Net Operating Income: $483,912.00
  • Gross Income: $797,340
  • Cap Rate: 4.86%
  • Gross Rent Multiplier: $12.48
  • Vacancy Allow Percent: 3.00%
  • Total Annual Expense: 289508
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.3911
  • Lot Size Square Feet: 17038
Parking Details
Parking Details
  • Parking Garage: Assigned, Controlled Entrance
  • Total Parking: 33
  • Parking Features: Assigned, Controlled Entrance
Interior Features
Interior Features
  • Levels: Multi/Split
  • Cooling: Central Air
  • Cooling Type: Central
  • Heating: Central
  • Heating Type: Central
  • Equipment: Dishwasher, Elevator, Microwave, Range/Oven
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 07-17-2024
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,695.00
  • Unit Actual Rent: $1,695.00
  • Unit Projected Rent: $2,250.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,567.00
  • Unit Actual Rent: $53,905.00
  • Unit Projected Rent: $73,500.00
  • Like Units: 21
Unit 3 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,973.00
  • Unit Actual Rent: $8,920.00
  • Unit Projected Rent: $11,700.00
  • Like Units: 3
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $2,799,265.00
  • Assessed Improvement Percent: 90.0
  • Assessed Land Value: $311,027.00
  • Assessed Land Percent: 10
  • Assessed Total Value: $3,110,292.00

Property History for 950 North Louise Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 950 North Louise Street

Taxable ValueLand$317,247Additions$2,858,540Total$3,175,787
Tax Record2024$37,788 ($3,149 / month)
Home Facts
Total Finished SqFt34,700 SqFtAbove Grade Finished SqFt34,700 SqFtLot Size17,033 SqFtStyleMulti-Family Res (5+ Units)Year Built1967ZoningGLR4*CountyLOS ANGELESAPN5644-015-064

Schools near 950 North Louise Street

This home is within Glendale Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
R. D. White Elementary School
PublicK to 5

Woodrow Wilson Middle School
Public6 to 8

Glendale High School
Public9 to 12

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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Listing Courtesy of Andy Anubhav Kawatra, Andy Anubhav Kawatra, DRE #01881930

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.