724 E Magnolia Boulevard

    Burbank, CA 91501
    • $1,650,000
    • STATUS: Active
    • ON SITE: 26 days
    • ID#: BB18251307
    UPDATED: 117 min ago
    $1,650,000
    • 0
      BEDS
    • 0.17
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,305
      SQFT
    • $499
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1930
    County:

    School Ratings & Info

    Description

    Excellent opportunity for the investor who has been searching for in-demand units in a prime Burbank hillside location, close to the Downtown area. Mom and Pop property that has been owned by the same family for more than 70 years. Detached single family home with all of its original character in the front and four units in the rear, all on month to month agreements. House has been owner-occupied and will be delivered vacant at close of escrow. Copper plumbing, upgraded electrical, and central heating and air conditioning have been added to the house. Detached two car garage with adjoining laundry room (appliances included in sale) and small enclosed yard. Four units with garages that were added at the rear of the property are identified as Units A, B, C & D with a street address of 726 E Magnolia. Each unit has a single car garage. Separate laundry room for tenants with coin operated machines that are owned, not leased.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-11-14T00:30:49.157. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.fredsedgroup.com/homes/88669296

    724 E Magnolia Boulevard Burbank, CA 91501

    • Price: $1,650,000
    • Status: Active
    • Updated: 117 min ago
    • ID#: BB18251307
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.17
    Acres
    3,305
    SQFT
    $499
    $/SQFT
    1930
    Built
    Neighborhood:
    610 - Burbank
    County:
    Los Angeles
    Area:
    610 - Burbank
    Property Description
    Excellent opportunity for the investor who has been searching for in-demand units in a prime Burbank hillside location, close to the Downtown area. Mom and Pop property that has been owned by the same family for more than 70 years. Detached single family home with all of its original character in the front and four units in the rear, all on month to month agreements. House has been owner-occupied and will be delivered vacant at close of escrow. Copper plumbing, upgraded electrical, and central heating and air conditioning have been added to the house. Detached two car garage with adjoining laundry room (appliances included in sale) and small enclosed yard. Four units with garages that were added at the rear of the property are identified as Units A, B, C & D with a street address of 726 E Magnolia. Each unit has a single car garage. Separate laundry room for tenants with coin operated machines that are owned, not leased.
    Exterior Features

    Architectural Style Traditional Construction Materials Stucco Exterior Features Rain Gutters Fence YN Yes Fencing Block Foundation Details Raised Garage Spaces 6.00 Lot Features Back YardFront YardLawnLot 6500-9999Lot Shape-RectangularLot-Level/FlatPavedSprinkler System Lot Size Source Assessor Lot Size Units Square Feet Parking Features Street Parking Total 6.00 Parking YN No Pool Features None Pool Private YN No Property Attached YN Yes Road Frontage Type City Street Road Surface Type Paved Roof CompositionShingle Spa Features None Spa YN No View Mountain View YN Yes

    Interior Features

    Appliances DishwasherGas StoveGas Water HeaterMicrowaveRefrigerator Appliances YN Yes Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 1 Common Wall Cooling Central Cooling YN Yes Fireplace Features Living RoomWood Fireplace YN Yes Flooring CarpetVinyl Heating Central Furnace Heating YN Yes Interior Features Ceiling FanCeramic Counters Laundry Features CommunityIndividual RoomOutside Levels Two Room Type EntryKitchenLaundryLiving RoomSun Window Features Double Pane WindowsWood Frame Windows

    Property Features

    Accessibility Features None Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Cap Rate 4.81 Community Features CurbsGuttersSidewalksStorm DrainsStreet Lighting Country Us Electric Expense 2692.00 Elevation Units Feet Fuel Expense 329.00 Furniture Replacement Expense 630.00 Gardener Expense 2370.00 Gross Income 91740.00 Gross Multiplier 17.99 Gross Operating Income 88988.00 Gross Scheduled Income 91740.00 Improvements Percent 62.77 Insurance Expense 1995.00 Land Lease YN No Land Value Percent 37.23 Laundry Equipment Own Lease Own Laundry Income 480.00 Laundry YN Yes Maintenance Expense 1217.00 Maintenance Percent 1.33 Net Operating Income 79285.00 New Construction YN No New Taxes Expense 20625.00 Number Of Separate Electric Meters 5 Number Of Separate Gas Meters 5 Number Of Separate Water Meters 5 Number Of Units Leased 4 Number Wall AC 4 Number With Carpet 5 Number With Dishwasher 4 Number With Drapes 5 Number With Range 5 Number With Refrigerator 5 Operating Expense 12455.00 Operating Expense Percent 13.58 Pest Control Expense 790.00 Professional Management Expense 612.00 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays All Utilities Total Expenses 30648.00 Trash Expense 0.00 Utilities Cable AvailableElectricity AvailableNatural Gas AvailableSewer ConnectedWater Connected Vacancy Allowance Rate 3.00 Water Sewer Expense 0.00 Water Source Public Year Built Source Assessor Zoning Bur3*

    Listing provided courtesy of Thomas Masterani of Dilbeck Real Estate and Victoria Claussen of Dilbeck Real Estate.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-11-14T00:30:49.157. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
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