Active
$3,145,000
7 Units
15 Beds
13 Baths
6,492 Area(sq.ft.)
7,452 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 3 | 2 | No | $ 1,200 | $ 1,200 | $ 3,000 |
| Unit 2 | 5 | 2 | 2 | No | $ 1,740 | $ 8,700 | $ 13,375 |
| Unit 3 | 1 | 2 | 1 | No | $ 1,800 | $ 1,800 | $ 2,500 |
| 3 | 7 | 15 | 13 | $ 11,700 | $ 46,500 | $ 72,375 |
| MLS #: | 24-362049 |
| Days On Market: | 8 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 484 |
| Price per unit: | $ 449,286 |
| Year Built: | 1986 |
Property Details
We are thrilled to present an exclusive opportunity - a remarkable 7-unit building now available for sale after 36 years. Built in 1986, this building features spacious 2 & 3-bedroom units, situated in the highly sought-after Glendale area, with minimal to no vacancy rates. Comprising the 7 units are: (ONE) 3 Bed + 2 Bath townhome-style unit; (FIVE) 2 Bed + 2 Bath units; and (ONE) 2 Bed + 1 Bath unit. This presents a promising value-add opportunity, with separate metering for gas and electricity along with Central Air Conditioning. Tenants benefit from the convenience of washer and dryer hook-ups in each unit, supplemented by an additional laundry room in the common area equipped with leased laundry equipment. The property features an updated roof, secured parking, and entry offering 13 covered spaces, complemented by private storage rooms for all units. Furthermore, the current CHASE Loan offers an assumable 3.28% interest rate, fixed until May 1, 2026 (interested parties are encouraged to contact the listing agent for further details).Conveniently located near the retail corridor of E. Colorado Blvd., Glendale High School, Shopping Centers, and Windsor Park, this property presents an ideal opportunity with promising rental upside potential while adhering to Glendale's Rent Ordinance.Interested in this Listing?
Miami Residence will connect you with an agent in a short time.
Income Details
| Gross Operating Income: | $ 136,886 |
| Total Annual Expense: | $ 65,758 |
| Net Operating Income: | $ 71,129 |
| Gross Annual Income: | $ 141,120 |
| Gross Rent Multiplier: | 22.29 |
Structure
| Type of Units: | Apartment |
| Buildings: | 1 |
| Levels: | Two |
Land & Parking
| Zoning: | GLR4YY |
| Parking Garage: | Covered Parking |
| Covered Parking: | 13 |
| Total Parking: | 13 |
Interior
| AC/Cooling: | Central |
| Equipment: | Intercom, Gas Dryer Hookup, Other |
| Heating: | Other |
| Laundry: | Laundry Area, In Unit |
| Laundry Equipment: | Lease |
Exterior
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