Active
$13,800,000
34 Units
5 Beds
4 Baths
27,165 Area(sq.ft.)
Lot: 26,333 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 16 | 2 | 2 | No | $ 2,360 | $ 2,360 | $ 2,850 |
| Unit 2 | 4 | 2 | 1 | No | $ 2,348 | $ 2,348 | $ 2,775 |
| Unit 3 | 14 | 1 | 1 | No | $ 1,979 | $ 1,979 | $ 2,300 |
| 34 | 54 | 50 | $ 74,858 | $ 74,858 | $ 88,900 |
| MLS #: | SR24017647MR |
| Days On Market: | 685 |
| Listing Date: | January 29, 2024 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 508 |
| Price per unit: | $ 405,882 |
| Year Built: | 1986 |
Property Details
We are pleased to be retained for this exclusive marketing assignment of the Elm Terraces in Glendale. This 34+1 n.c. unit apartment community is located in the most-sought rental pocket in all of the city, north of Glenoaks Blvd known as "El Miradero" / Grandview. The demand for rental housing in this pocket provides for historically low levels of vacancy and in turn premium in rental levels. The asset has been within the same family ownership for over 3 decades and presents an opportunity to unlock lock value by either loss to lease capture or a mild modernization update. Comprising mostly of 2+1.5 townhouse units, the Elm Terraces built in 1986, offers several key tenant amenities including individual hot water heaters, controlled intercom, and gated parking, ample parking, and storage. The walkability to a plethora of local shops, services, and cafes is a major benefit of living at the Elm Terraces.Interested in this Listing?
Miami Residence will connect you with an agent in a short time.
Income Details
| Rent Control: | False |
| Total Annual Expense: | $ 264,820 |
| Net Operating Income: | $ 921,060 |
Structure
| Community Features: | Biking, Curbs, Hiking |
| Sewer: | Public Sewer |
| Water: | Private |
Land & Parking
| Zoning: | GLR4* |
| Land Lease Type: | Fee |
Interior
| Laundry: | Laundry Area |
Exterior
| Pool: | No |
Detailed Map
Schools
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Income
