UPDATED:
11/08/2024 07:38 AM
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR24229186
HOA Y/N No
Year Built 1897
Lot Size 6,952 Sqft
Property Description
Keller William is pleased to present 366-368 W Palmer Ave, Glendale, CA 91204 – a multifamily investment rich in both financial upside and Historical significance. This 6-unit property, located in the highly desirable Tropico neighborhood of Glendale, offers an excellent opportunity for investors seeking both stable cash flow and long-term appreciation.
Key Investment Highlights:
• Historic Significance: Constructed in 1897, this property was evaluated during the 2017 South Glendale Historic Resources Survey and recognized as a rare example of early residential development in Tropico. It’s eligible for listing in the Glendale Register under local Criterion 1, representing the earliest period of South Glendale’s
residential history, and under local Criterion 3, for its outstanding residential vernacular architecture.
”The property is not currently registered as a historic property. The new owner has the opportunity to pursue historic designation for added
recognition and potential benefits.”
• Architectural Integrity: The property retains many of its original, character-defining
features, including its two-story height, rectangular plan, hipped roof with flared and bracketed eaves, central attic dormer, and wood lap siding. These architectural elements add value and appeal, making it a unique asset in Glendale's multifamily
market.
• Value-Add Potential: In addition to its historical appeal, there is the opportunity to convert the existing garage into an (ADU's), further boosting rental income with minimal capital investment.
With its blend of historical charm, architectural integrity, and income-generating potential, 366-368 W Palmer Ave presents a unique opportunity for investors looking to capitalize on both cultural heritage and future growth.
Location
State CA
County Los Angeles
Area 628 - Glendale-South Of 134 Fwy
Zoning GLR4P*
Interior
Heating None
Cooling None
Fireplaces Type None
Fireplace No
Laundry Washer Hookup, Electric Dryer Hookup, Gas Dryer Hookup
Exterior
Garage Spaces 4.0
Garage Description 4.0
Pool None
Community Features Suburban
Utilities Available None, See Remarks
View Y/N No
View None
Total Parking Spaces 4
Private Pool No
Building
Lot Description 6-10 Units/Acre
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 5640007005
Acceptable Financing 1031 Exchange
Listing Terms 1031 Exchange
Special Listing Condition Standard
