10427 Commerce Avenue, Tujunga, CA 91042
Property
Sold December 2023
Listing Agent: Arthur Mangassarian (DRE #00751703) · Listing Office: Re/Max Tri-City Realty · Contact: 818-409-0040 · Bought with: Arthur Mangassarian · Re/Max Tri-City Realty · MLS #GD23178970 · Source: CRMLS
About this property
Trust sale. Reduced for immediate sale. 6.18 CAP Rate and 11.087 Gross multiplier. This incredible property comprises 8 units, featuring 8 two-bedroom units with 16 parking spaces. All units are currently leased, with rents ranging from $1,750.00 to $2,000.00. Tujunga has recently experienced a lots of migration from Glendale and La Crescenta. This has led to a appreciation in property prices, a trend that has persisted and grown annually. While numerous new apartment constructions, primarily condominiums, have emerged, the high demand for rentals, coupled with a limited supply of available units, has driven a notable increase in rental rates, reaching up to 40%. The property is being sold as trust sale and is not subject to court approval. Opportunity to build ADU in the back of the lot
Listing description from the December 2023 sale, as reported to CRMLS.
Sale history