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7064 Greeley ST Tujunga, CA 91042
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Key Details
Sold Price $4,050,000
Property Type Multi-Family
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
MLS Listing ID PW24039012
Year Built 2021
Lot Size 0.267 Acres
Property Description
Original listed price has been reduced by $900,000! The subject is a nine-unit woodframe and stucco luxury apartment building, constructed in 2021, with a convenient location in Tujunga, a suburban community within the City of Los Angeles. The subject is located just north of Foothill Boulevard and the Foothill (Interstate 210) Freeway, approximately one mile west of Glendale, two miles north of Burbank and less than eight miles from Pasadena. This stylish contemporary three-story building includes a central garage on the first story and an excellent mix of oversized two and three-bedroom units ranging up to 1,598 square feet in size in the second and third stories. The property has a center atrium, an elevator located in the lobby and a central garage with 21 vehicle spaces. Eight of the apartment units are one-level and one unit is two-story, townhouse-style. All units have contemporary kitchens with quartz countertops, dishwashers, gas range/ovens and microwave ovens. Bathrooms have luxury oversized state-of-the-art showers with full glass enclosures. Many rooms feature floor-to-ceiling windows. All units have recessed lighting, tankless water heaters, washer/dryers and central heating/air conditioning. Electricity and gas are separately metered to each unit. Zoning is LARD1.5. Eight of the units have no rental rate restriction. One two-bedroom unit is subject to restricted rate occupancy. Most units are rented on a month-to-month tenancy. Average rent per square foot is below comparable properties. As a nearly-new property with minimal rent control, there is potential to increase the capitalization rate and cash flow by increasing rental rates and decreasing operating expenses, perhaps by instituting a ratio utility billing system.
Tujunga is located in the Crescenta Valley between the Verdugo and San Gabriel Mountains. It shares many municipal services with the community of Sunland which is adjacent to the west. Many residents are employed in the nearby cities of Glendale, Burbank and Pasadena. The area is served by the nearby Hollywood-Burbank Airport, a regional hub, as well as Los Angeles International Airport which is located approximately sixteen miles to the south.
Location
State CA
County Los Angeles
Area 659 - Sunland/Tujunga
Zoning LARD1.5
Interior
Heating Central, Forced Air
Cooling Central Air
Flooring Vinyl
Fireplaces Type None
Exterior
Parking Features Assigned, Controlled Entrance, Concrete, Driveway Level, Garage Faces Front, Garage, Gated, Private, Community Structure
Garage Spaces 21.0
Garage Description 21.0
Fence Excellent Condition, Wrought Iron
Pool None
Community Features Curbs, Foothills, Hiking, Near National Forest, Preserve/Public Land, Street Lights, Suburban, Sidewalks, Valley, Gated
Utilities Available Cable Available, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
View Y/N Yes
View Hills, Neighborhood
Roof Type Composition,Elastomeric,Flat,Mansard
Building
Lot Description 31-35 Units/Acre, Back Yard, Lawn, Level, Near Public Transit, Rectangular Lot, Sprinkler System, Yard
Story 3
Foundation Slab
Sewer Public Sewer
Water Public
New Construction No
Others
Acceptable Financing Cash, Cash to New Loan, Conventional
Listing Terms Cash, Cash to New Loan, Conventional
Special Listing Condition Standard
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Bought with Vahe Parsekhian • Americana Real Estate Services