311 E Maple ST Glendale, CA 91205
Active
$2,950,000
6%
8 Units
10 Beds
10 Baths
7,099 Area(sq.ft.)
8,752 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 2 | 2 | No | $ 2,389 | $ 2,389 | $ 2,700 |
| Unit 2 | 1 | 1 | 1 | No | $ 1,911 | $ 1,911 | $ 2,200 |
| Unit 3 | 1 | 1 | 1 | No | $ 1,868 | $ 1,868 | $ 2,200 |
| Unit 4 | 1 | 2 | 2 | No | $ 2,355 | $ 2,355 | $ 2,700 |
| Unit 5 | 1 | 1 | 1 | No | $ 1,911 | $ 1,911 | $ 2,200 |
| Unit 6 | 1 | 1 | 1 | No | $ 1,985 | $ 1,985 | $ 2,200 |
| Unit 7 | 1 | 1 | 1 | No | $ 1,950 | $ 1,950 | $ 2,200 |
| Unit 8 | 1 | 1 | 1 | No | $ 2,175 | $ 2,175 | $ 2,200 |
| 8 | 8 | 10 | 10 | $ 16,544 | $ 16,544 | $ 18,600 |
| MLS #: | GD23226348IT |
| Days On Market: | 78 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 416 |
| Price per unit: | $ 368,750 |
| Year Built: | 1974 |
Property Details
Excellent opportunity to purchase an eight (8) unit apartment building with a significant upside in rental income. 311 E. Maple Street is an 8-unit multifamily property in the desirable southeast area of Glendale, CA. This property provides a tremendous opportunity for an investor to acquire pride in ownership of an asset that has been professionally managed and cared for. As it s the first time in the market after 39 years of ownership, this is truly an irreplaceable asset to own. The property is a two-story building that was constructed in 1974 and consists of two large 2bed and 1.3/4bath units and six 1bed and 1bath units. Large roomy units (Buyer to verify the square footage if required). It also includes thirteen (13) parking spaces that include a combination of a private two (2) car garage, which is being used by the owner as storage currently, eleven (11) surface carport parking spaces, which are used by the tenants, a large on-site laundry room, and very minimal landscaping. Most tenants are on a month-to-month basis, and units are separately metered for gas and electricity. The property is within a short distance to multiple bus stops located on Glendale Avenue and Brand Boulevard, in addition to nearby retail shops and businesses. It provides tenants with ease of access to larger retail centers located at the Glendale Galleria, the Americana of Glendale, and Atwater Village. Tenants also have easy access and proximity to the 134 and 5 Freeways. Buyers might explore the opportunity to convert the two-car private garage into an ADU, this could be a great opportunity to boost future rental revenue and income stream, raising the overall value of the investment. Buyer to verify with the city for associated ADU conversion requirements. The roof was replaced/refinished in 2018 with TPO compound material and has a 20-year warranty. Newly painted building.Interested in this Listing?
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Income Details
| Rent Control: | Yes |
| Gross Operating Income: | $ 199,548 |
| Total Annual Expense: | $ 55,957 |
| Net Operating Income: | $ 143,591 |
| Cap Rate: | 4.86% |
| Gross Rent Multiplier: | 14.79 |
| Actual Gross Rent: | $ 198,528 |
Structure
| Community Features: | Street Lights |
| Sewer: | Public Sewer |
| View Description: | None |
| Water: | Public |
Land & Parking
| Zoning: | GLR4* |
| Land Lease Type: | Fee |
| Parking Garage: | Assigned, Carport, Driveway, Garage - 2 Car |
| Total Parking: | 14 |
Interior
| Heating: | Radiant |
| Laundry: | Laundry Area |
| Laundry Equipment: | Own |
Exterior
| Pool: | No |
| Spa: | No |
Detailed Map
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