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$3,374,000

Beds
Unknown
sq ft
Unknown

616 E Lomita Ave, Glendale, CA 91205

616 E Lomita Ave

Glendale, CA 91205

  • 16 days on market
Presenting a fully renovated 8-unit apartment building alongside a separately metered three-bedroom, 1.5-bathroom single-family residence spanning over 1,200 sq. ft. This unique offering provides versatility—ideal for an owner-user seeking rental income or an investor acquiring a 9-unit income property with potential future development opportunities. The property owner has preliminary plans for a proposed three-story, 11-unit apartment development (buyer to verify all feasibility and requirements with the city). Apartment Complex (616-618 E Lomita Ave.) and single-family residence (622 E. Lomita Ave.) are to be sold together. Please do not disturb tenants or access the property without prior authorization. All offers are subject to interior inspection. For further details, contact the listing office.

Details

Property type

Apartment

Est. home value

$2,077,821

Lot size

0.3244 acres

Price per sq ft

Unknown

Year built

1931

HOA

No

Price History

02/06/2025
CRMLS

CRMLS #BB25025342

Listed
$3,374,000

Schools & Community

Neighborhood: 

Mariposa

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Community features: 

Curbs, Street Lights, 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

$2,461,893
Asking price
$3,374,000
Closing costs (~8% of asking)
-$269,920
Est. remaining loan balance
-$642,187
Cash to seller
$2,461,893

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

Seller’s Loan History

Lender

Mortgage Solutions Of Colorado Llc

Loan start date

November 2016

Original loan amount

$782,147

Est. remaining balance

$642,187

Interest rate

3.47%

Loan type

New Conventional, 30 year

Seller

Thomas Khodjasarian

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: 02/23/2025 at 9:50 AM

Listing updated: 02/06/2025 at 2:49 PM

Listed by: Thomas Khodjasarian, Sarian Realty Phone #: (800) 920-1984

MLS: CRMLS #BB25025342

CRMLS logo

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