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$1,899,950

Beds
Unknown
sq ft
Unknown

10408 Fairgrove Ave, Tujunga, CA 91042

10408 Fairgrove Ave

Tujunga, CA 91042

  • 67 days on market
    • Price drop $96,000↓
SELLER FINANCING MAY BE POSSIBLE WTH 20% DOWN PAYMENT BALANCE CARRIED AT 6% ANNUAL Amazing 6 unit income property in a nice street of Tujunga built on almost 26,000 sq ft of land. Potential great add value opportunity not to be missed. The 2 story detached property consists of 2 X 1 Bed 1 Bath Unit Rented for $1,092 and $1,196 (total $2,288) on the second floor and a 2 X 2 car garage and a Studio Unit on the first floor Rented for $1,092. The second structure has a 1 Bedroom 1 Bathroom Rented for $1,768 , the third structure has another 1 Bedroom 1 Bathroom Rented for $2,100 and the front house has a 2 Bedroom 2 Rented for $3,500. There is a detached garage at the end of the property that is rented for $500 a month and might be converted to another residential unit for more rental income. Almost all units have washer dryer hookups for convenience. Property has storage area on the property that can be leased for more income. Long, wide solar lighted driveway with plenty of parking at the end. Plenty of carports for additional cars and even an RV or a boat. Property has a huge space at the front and the back with more room to add more possible rental units, house, ADU or a storage as a source of additional income. Overall property currently generated about $11,250 a month in rental income. Rents are below market and there is room for increase.

Details

Property type

Mixed Use

Est. home value

$1,483,160

Lot size

0.581 acres

Price per sq ft

Unknown

Year built

1938

HOA

No

Price History

02/17/2025
CRMLS

CRMLS #GD24248778

Price change
$1,899,950
-4.81%
12/17/2024
CRMLS

CRMLS #GD24248778

Listed
$1,995,950
+24.75%
03/03/2022
CRMLS

CRMLS #BB21058265

Sold
$1,600,000

Schools & Community

Neighborhood: 

Tujunga

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Community features: 

Suburban, Sidewalks

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$1,401,502
Asking price
$1,899,950
Closing costs (~8% of asking)
-$151,996
Est. remaining loan balance
-$346,452
Cash to seller
$1,401,502

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

Arcstone Financial Inc

Loan start date

January 2024

Original loan amount

$350,000

Est. remaining balance

$346,452

Interest rate

7.44%

Loan type

New Conventional, 30 year

Seller

Ararat Tahmazyan and The Ararat Tahmazyan Living Trust

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 02/22/2025 at 11:25 AM

Listing updated: 02/18/2025 at 12:39 PM

Listed by: Eduard Khachatryan, Eduard Khachatryan, Luxury Homes InternationalLuxury Homes International Phone #: (818) 484-8008

MLS: CRMLS #GD24248778

CRMLS logo

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