1055 Grover AVE Glendale, CA 91201
Active
$3,100,000
10 Units
12 Beds
11 Baths
7,211 Area(sq.ft.)
7,741 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 2 | 1 | No | $ 1,220 | $ 1,220 | $ 2,500 |
| Unit 10 | 1 | 1 | 1 | No | $ 1,250 | $ 1,250 | $ 2,000 |
| Unit 2 | 1 | 1 | 1 | No | $ 1,250 | $ 1,250 | $ 2,000 |
| Unit 3 | 1 | 3 | 2 | No | $ 1,400 | $ 1,400 | $ 3,000 |
| Unit 4 | 1 | studio | 1 | No | $ 1,000 | $ 1,000 | $ 1,500 |
| Unit 5 | 1 | 1 | 1 | No | $ 1,300 | $ 1,300 | $ 2,000 |
| Unit 6 | 1 | 1 | 1 | No | $ 1,750 | $ 1,750 | $ 2,000 |
| Unit 7 | 1 | studio | 1 | No | $ 950 | $ 950 | $ 1,500 |
| Unit 8 | 1 | 2 | 1 | No | $ 1,215 | $ 1,215 | $ 2,500 |
| Unit 9 | 1 | 1 | 1 | No | $ 1,220 | $ 1,220 | $ 2,000 |
| 10 | 10 | 12 | 11 | $ 12,555 | $ 12,555 | $ 21,000 |
| MLS #: | GD24013603IT |
| Days On Market: | 42 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 430 |
| Price per unit: | $ 310,000 |
| Year Built: | 1962 |
Property Details
Unique and Prime investment opportunity to purchase 10 units in desirable Glendale Glenoaks area. Pride of ownership, Owns for about 50 years. Due to this long term ownership relationship with great tenants, the current rents have remained very low, leaving about 80% upside in rents Current rents are significantly below market, for 10 units totaling about $151,380 a year. One 3 bed 2 bath, Two 2 bed 1 bath, Five 1 bed 1 bath, Two single. The rents in the area for a 3 bedroom unit can be over $3,000, for 2 bed $2500 and 1 bed $2000 a month. Some TLC on this property current rents can potentially go up about $252,000 a year. The property is centrally located for commutes, supermarkets, restaurants and schools . Driving distance downtown Los Angeles, Burbank, Montrose, Americana and Glendale Galleria, NOHO district, Old Town Pasadena, and the Rose Parade, JPL. Local LA and Hollywood attractions include the Music Center, Disney Music Hall, and Hollywood Bowl. This 10 units is truly one of a kind and great investment. Has copper plumbing, newer water heater, walk way, all wall heaters and wall A/C s, about 13 parking, Everything in this area sells quickly, priced right and will not last long in this market.Interested in this Listing?
Miami Residence will connect you with an agent in a short time.
Income Details
| Rent Control: | Yes |
| Gross Operating Income: | $ 10,320 |
| Total Annual Expense: | $ 11,880 |
| Net Operating Income: | $ 120,000 |
| Actual Gross Rent: | $ 151,370 |
Structure
| Community Features: | Curbs |
| Sewer: | Public Sewer |
| Water: | Public |
Land & Parking
| Zoning: | GLR4YY |
| Land Lease Type: | Fee |
| Total Parking: | 13 |
Interior
| AC/Cooling: | Wall/Window Unit(s) |
| Heating: | Wall |
| Fireplace Rooms: | Other |
| Laundry: | Community |
Exterior
| Pool: | No |
| Roof: | Flat |
Detailed Map
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