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$4,350,000

Est. payment - /mo

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14,120 SqFt

Active Under Contract

7064 Greeley ST Tujunga, CA 91042

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Nathan King Real Estate Group

info@kingrealestate.group +1(559) 396-0000

UPDATED:

09/30/2024 05:36 PM

Key Details

Property Type Multi-Family

Sub Type Mixed Use

Listing Status Active Under Contract

Purchase Type For Sale

Square Footage 14,120 sqft

Price per Sqft $308

MLS Listing ID PW24039012

Construction Status Turnkey

HOA Y/N No

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

Interior Features Built-in Features, Elevator, Multiple Staircases, Open Floorplan, Quartz Counters, Recessed Lighting, Storage, Unfurnished, Atrium, Bedroom on Main Level, Main Level Primary

Heating Central, Forced Air

Cooling Central Air

Flooring Vinyl

Fireplaces Type None

Fireplace No

Appliance Built-In Range, Dishwasher, Gas Cooktop, Disposal, Gas Oven, Gas Range, Microwave, Tankless Water Heater, Dryer, Washer

Exterior

Garage 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

Accessibility Accessible Elevator Installed, Grab Bars, Parking, Accessible Doors, Accessible Entrance, Accessible Hallway(s)

Parking Type Assigned, Controlled Entrance, Concrete, Driveway Level, Garage Faces Front, Garage, Gated, Private, Community Structure

Total Parking Spaces 21

Private Pool No

Building

Lot Description 31-35 Units/Acre, Back Yard, Lawn, Level, Near Public Transit, Rectangular Lot, Sprinkler System, Yard

Faces North

Story 3

Entry Level Three Or More

Foundation Slab

Sewer Public Sewer

Water Public

Architectural Style Modern

Level or Stories Three Or More

New Construction No

Construction Status Turnkey

Others

Senior Community No

Tax ID 2568016061

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

Acceptable Financing Cash, Cash to New Loan, Conventional

Listing Terms Cash, Cash to New Loan, Conventional

Special Listing Condition Standard

Listed by Carl Reinhart • Carl Reinhart, Broker • 714-404-8020

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Nathan King Real Estate Group

Broker | License ID: 01878277

+1(559) 396-0000

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