Glendale, CA 91204 · APN 5695-018-044
UNITS
90
BUILDING SF
89,030
SF / UNIT
989
YEAR BUILT
2019
BEDROOMS
99
BATHROOMS
99
USE · CODE 0550
5+ UNITS
PROP 13 ASSESSED VALUES — USUALLY WELL BELOW MARKET ON LONG-HELD BUILDINGS.
PRICE ESTIMATED FROM ASSESSOR REASSESSMENT AT SALE — NOT A VERIFIED CLOSING PRICE.
Built 2019 — buildings under 15 years old are exempt from AB 1482; the state cap applies once the building turns 15.
PRICES ESTIMATED FROM ASSESSOR REASSESSMENT AT SALE (ASSESSED VALUE DEFLATED 2%/YR) — NOT VERIFIED CLOSING PRICES.
Built 2019 — buildings under 15 years old are exempt from AB 1482; the state cap applies once the building turns 15. This is an inference from public assessor records, not a determination — confirm the certificate of occupancy date with the LA Housing Department or ZIMAS before you rely on it for pricing or notices.
County records list 90 units at 521 W Colorado St, classified as 5+ units across 89,030 square feet of building area, averaging about 989 square feet per unit. Unit counts on the roll can lag permitted conversions and unpermitted additions in both directions.
The assessor roll gives a build year of 2019, which is after the October 1978 RSO cutoff. Age drives more than character here: it sets rent-cap exposure, seismic retrofit obligations, and what a lender will underwrite.
The last recorded transfer was August 2021, at an estimated $34,500,000 — about $383,333 per unit. That price is estimated from the Proposition 13 reassessment recorded at sale, not a verified closing price, so treat it as a close approximation rather than a confirmed figure.
The current assessed value is $36,611,676 ($12,734,496 land, $23,877,180 improvements). Assessed value is not market value. Under Proposition 13 it resets only on a change of ownership and then climbs about 2% a year, so a long-held building is often assessed far below what it would trade for.
Public records give you the frame — units, size, age, assessed value, when it last traded — but pricing needs in-place rents, expenses, and the condition of the units, none of which appear in county data. A broker valuation puts closed comps and a rent survey against the actual rent roll. Shaya Lowenstein does that free for LA multifamily owners, typically within 48 hours, with no obligation to list.
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