tomo logo

$5,375,000

Beds
22
sq ft
10,700

629 E Elk Ave, Glendale, CA 91205

629 E Elk Ave

Glendale, CA 91205

  • 119 days on market
*** Returning to the market at a $400,000 price reduction *** Located 0.75 miles from the heart of Downtown Glendale, 629 Elk is a well-maintained 14-unit property situated near The Americana @ Brand, Glendale Galleria, and a wide array of popular retailers, cafes, and restaurants along Brand Blvd. Please note the City of Glendale currently allows for an 8.8% annual rent increase. Built in 1987, this well-maintained complex features (8) 2-bdrm. units, (6) 1-bdrm. units, and the potential to add (2) 2-bdrm. ADUs (buyer to verify). These spacious units average approx. 750 SF. There are (3) 30' X 1' storage units with roll-up doors that currently provide additional income and can be converted to ADUs (buyer to verify). Renovated units include new windows, wood-laminate flooring, stainless steel appliances, quartz countertops, new tilework, and a mini-split A/C. Property amenities include a laundry room with coinless machines and 21 side-by-side parking spaces.

Details

Property type

Est. home value

$5,248,626

Lot size

0.3106 acres

Price per sq ft

$503

Year built

1987

HOA

No

Price History

07/09/2024
CLAW

CLAW #24412949

Listed
$5,375,000
+42.95%
10/20/2017
CRMLS

CRMLS #OC17154516

Sold
$3,760,000

Schools & Community

Neighborhood: 

Mariposa

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Community features: 

Gated

Seller’s Loan History

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

Lender

Paul Elis Roth Ira 3203393

Loan start date

April 2023

Original loan amount

$395,000

Est. remaining balance

Not provided

Interest rate

6.73%

Loan type

Commercial

Seller

1201 S Muirfield Llc

Lender

First Foundation Bank

Loan start date

November 2019

Original loan amount

$3,325,000

Est. remaining balance

Not provided

Interest rate

3.56%

Loan type

Building or Construction Loan, 30 year

Seller

1201 S Muirfield Llc

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: 11/05/2024 at 6:35 AM

Listing updated: 10/19/2024 at 4:30 AM

Listed by: Max Berger, Compass Phone #: (310) 230-5478

MLS: CLAW #24412949

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