7064 Greeley Street, Tujunga, California, 91042

$4,350,000

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Pending Sale

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Details

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.

PROPERTY FEATURES

Rooms Features

Rooms information : Atrium,Kitchen,Laundry,Living Room,Main Floor Bedroom,Main Floor Primary Bedroom,Multi-Level Bedroom

Utility Features

Electric: 220 Volts in Kitchen,Electricity - On Property Sewer: Public Sewer Water Source: Public

Parking Features

Uncovered Spaces: 0.00 Carport Spaces: 0.00 # of Garage Spaces: 21.00 # of Parking Spaces: 21.00

Security Features

Security Features: Automatic Gate,Carbon Monoxide Detector(s),Closed Circuit Camera(s),Fire and Smoke Detection System,Fire Sprinkler System,Gated Community,Security System,Smoke Detector(s)

Accessibility Features

Accessibility Features: 36 Inch Or More Wide Halls,Accessible Elevator Installed,Doors - Swing In,Entry Slope Less Than 1 Foot,Grab Bars In Bathroom(s),Parking

Exterior Features

Lot Features: 31-35 Units/Acre,Back Yard,Lawn,Lot 10000-19999 Sqft,Rectangular Lot,Level,Near Public Transit,Sprinkler System,Yard Fencing: Excellent Condition,Wrought Iron

General Features

Property Condition : Turnkey Road Frontage: City Street Road Surface: Paved Parcel Identification Number: 2568016061

Heating Cooling Features

Cooling: Has Cooling Heating: Has Heating Heating Type: Central,Forced Air Cooling Type: Central Air

Construction Features

Architectural Style : Modern Flooring: Vinyl Roof Type: Composition,Elastomeric,Flat,Mansard Construction: Drywall Walls,Frame,Stucco Year Built Source: Public Records

Interior Features

Fireplace Features : None Common Walls: 2+ Common Walls Appliances: Built-In Range,Dishwasher,Disposal,Gas Oven,Gas Range,Gas Cooktop,Microwave,Tankless Water Heater Laundry Features: Dryer Included,Washer Included Laundry: Has Laundry