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OFFICE PROPERTY SOLD FOR $4,750,000!

January 05, 2023
9116 Sunland Boulevard
Sun Valley, CA 91352
Patrick Long represented the seller and buyer in the sale of this high image professional office building built in 2003! The property is two levels and 14,631 SF of building on 36,527 SF of land. The property features beautiful interior and exterior finishes, 46 striped parking spaces (over 3 spaces/1,000 SF), an elevator, multi-tenant metering, balcony walkways, and approximately 170 feet of frontage on Sunland Boulevard. Conveniently located between Burbank and Shadow Hills near the 5 Freeway with easy access to the 210 Freeway. For more information, contact Patrick Long at (818) 956-7001 x134. Patrick Long DRE #: 01831830. Stevenson Real Estate Services DRE #: 00983560.

U.S. Labor Market Strong at End of 2022

January 05, 2023

Labor market resilience was underscored by other data on Thursday showing private employers hired far more workers than expected last month. The reports suggested the economy ended 2022 on solid footing, despite a raft of layoffs in the technology industry as well as in interest rate-sensitive sectors like finance and housing. Full Story

INDUSTRIAL PROPERTY SOLD FOR $1,750,000!

January 05, 2023
7438 Varna Avenue
North Hollywood, CA 91605
Patrick Long represented the seller in the sale of this rare, M2-zoned property in North Hollywood with approximately 4,495 square feet of building located on approximately 10,250 square feet of land! The site features additional bonus covered areas (approximately 4,000+ square feet) and is great for heavy uses such as marble, iron works, woodworking, automotive and more. The property has convenient access to the 170 Freeway. For more information, contact Patrick at (818) 956-7001 x134. Patrick Long DRE #: 01831830. Stevenson Real Estate Services DRE #: 00983560.

MULTIFAMILY PROPERTY SOLD FOR $3,400,000!

December 30, 2022
1044 Linden Avenue
Glendale, CA 91201
Randy Stevenson and Kris Hons represented the seller in the sale of this very well maintained, eight unit multifamily property in the Grandview neighborhood of Glendale; the property is comprised of eight 2+2 units of approximately 1,000 square feet each (8,000 square feet per Assessor on 7,926 square feet of land); the building was constructed in 1985; the units are separately metered for gas and electricity; new central hot water heater in 2018; new laundry machines (Speed Queen) in 2020; generous upside in rents; semi-subterranean parking garage striped for fourteen parking spaces, but there are two additional, parallel spaces that have been demarcated and are used by the tenants; all eight central HVAC units were replaced in the last twelve months; roof replaced in 2020; new elastomeric deck system installed in 2020; sewer connection in the public right-of-way has been replaced; four units upgraded in terms of flooring, countertops and cabinetry; located just south of Glenoaks Boulevard and east of Alameda Avenue near Downtown Burbank; less than 1/3 of a mile to Trader Joe’s and Walgreens; for more information, contact Randy Stevenson x155 or Kris Hons x127 at (818) 956-7001. Randy Stevenson DRE #: 01228475. Kris Hons DRE #: 01807261. Stevenson Real Estate Services DRE #: 00983560.

MULTIFAMILY PROPERTY FOR SALE $1,325,000

December 14, 2022

Five (5) units; small multifamily property available just north of Adams Hill; the property consists of one (1) 3 bedroom/1 bathroom house, one (1) 1 bedroom/1 bathroom, three (3) studios (one of which is in a detached structure) and an unpermitted unit in a converted garage; significant amount of upside in rental income; the interior of the detached studio has been completely demolished and is ready to be rebuilt; great opportunity to improve and reposition the entire property; 2,958 square feet of building on 7,550 square feet of land; built in 1912/1923; 1 tandem parking space; please do not go on the property or disturb the tenants; submit offer subject to inspection. For more information, contact Randy Stevenson x155 or Kris Hons x127 at (818) 956-7001. Randy Stevenson DRE #: 01228475. Kris Hons DRE #: 01807261. Stevenson Real Estate Services DRE #: 00983560. Download Brochure.

COMMERCIAL PROPERTY SOLD FOR $1,150,000!

December 14, 2022

1748 Victory Boulevard
Glendale, CA 91201
Patrick Long represented the buyer in the sale of this rare, freestanding 1,800 square foot commercial building on 2,460 square feet of land. Previously used as a recording and photo studio, the property was purchased by an owner/user with plans to convert the space to office. The property is located in the Riverside Rancho district adjacent to Burbank and minutes away from the 5 & 134 freeways. For more information, contact Patrick Long at (818) 956-7001 x134. Patrick Long DRE #: 01831830. Stevenson Real Estate Services DRE #: 00983560.

Fed raises interest rates half a point to highest level in 15 years

December 14, 2022

The Federal Open Market Committee voted to boost the overnight borrowing rate half a percentage point, taking it to a targeted range between 4.25% and 4.5%. Full Story

CONSUMER PRICES ROSE LESS THAN EXPECTED IN NOVEMBER, UP 7.1% FROM A YEAR AGO

December 13, 2022

The consumer price index rose just 0.1% from the previous month, and increased 7.1% from a year ago, compared with respective estimates of 0.3% and 7.3%. Full Story. 

Fed Chair Powell says smaller interest rate hikes could start in December

November 30, 2022

But he cautioned that monetary policy is likely to stay restrictive for some time until real signs of progress emerge on inflation. Full Story

Attention Property Owners: Los Angeles and Santa Monica Approve ‘Mansion Tax’ Ballot Measures, Increasing Transfer Taxes on Sales Valued at $5 Million or More

November 29, 2022

Measure ULA takes effect on April 1, 2023. Under Measure ULA, there will be an additional “Homelessness and Housing Solutions Tax,” when the consideration or value of the interest or property conveyed (irrespective of any lien encumbrances) in the City of Los Angeles exceeds $5 million. Full story