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$4,275,000
Est. payment /mo
8,498 Sqft Lot
UPDATED:
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR25094328
HOA Y/N No
Year Built 1986
Lot Size 8,498 Sqft
Property Sub-Type Apartment
Property Description
The Alexanian Apartment Advisors are pleased to announce that we have been selected as exclusive advisor to the seller for this remarkable multifamily investment acquisition opportunity in Glendale.
The building was built in 1986 with great floorplan of 10,295 sq ft over subterranean parking. The asset incorporates Central AC, gated access control and parking, and private balconies. A remarkable unit mix of (1) 3+2.5 approx 1,600 sq ft townhouse style unit with washer dryer inside the unit, and the remaining (8) units are all 2+2 with spacious floor plans. There is a significant rental upside due to the location, size and quality of the offering. Rarely is there turnover, the area feels like a historical vacancy-proof pocket. The current ownership has done a great job of managing the asset, recently replacing the roof, replacing all 9 AC units, replacing the garage gate along with motor and sensors and currently upgrading the intercom system to a Akuvox X912 with a C313W-2 in apartment touch screen audio and video display.
Situated in the most sought-after part of Glendale, the 91207 zip code median home price is $1,800,000 per Redfin.com. Tenants enjoy the ability to walk to Trader Joe's Coffee Bean, Walgreens in addition to a plethora local shops, cafes, eateries and services. 1 block away is the posh Mya rooftop restaurant and lounge which over looks the city's skyline. There are also several school options within walking distance as well.
Brand Boulevard, the cross street named after the city's founder, is a host to major cooperate headquarters like New York Life & Service Titan along with others who employee several thousands. 1 mile from the subject property, tenants are at one of Los Angeles's premier dining & shopping destinations, the Americana at Brand. Brand Boulevard has seen a major transformation since the inception of the Americana with a plethora of nightlife and entertainment.
Well maintained, this ease of management asset will be a trophy in any investment portfolio.
** Contact listing agent Greg Alexanian for offering memorandum and additional requests **
The building was built in 1986 with great floorplan of 10,295 sq ft over subterranean parking. The asset incorporates Central AC, gated access control and parking, and private balconies. A remarkable unit mix of (1) 3+2.5 approx 1,600 sq ft townhouse style unit with washer dryer inside the unit, and the remaining (8) units are all 2+2 with spacious floor plans. There is a significant rental upside due to the location, size and quality of the offering. Rarely is there turnover, the area feels like a historical vacancy-proof pocket. The current ownership has done a great job of managing the asset, recently replacing the roof, replacing all 9 AC units, replacing the garage gate along with motor and sensors and currently upgrading the intercom system to a Akuvox X912 with a C313W-2 in apartment touch screen audio and video display.
Situated in the most sought-after part of Glendale, the 91207 zip code median home price is $1,800,000 per Redfin.com. Tenants enjoy the ability to walk to Trader Joe's Coffee Bean, Walgreens in addition to a plethora local shops, cafes, eateries and services. 1 block away is the posh Mya rooftop restaurant and lounge which over looks the city's skyline. There are also several school options within walking distance as well.
Brand Boulevard, the cross street named after the city's founder, is a host to major cooperate headquarters like New York Life & Service Titan along with others who employee several thousands. 1 mile from the subject property, tenants are at one of Los Angeles's premier dining & shopping destinations, the Americana at Brand. Brand Boulevard has seen a major transformation since the inception of the Americana with a plethora of nightlife and entertainment.
Well maintained, this ease of management asset will be a trophy in any investment portfolio.
** Contact listing agent Greg Alexanian for offering memorandum and additional requests **
Location
State CA
County Los Angeles
Area 627 - Rossmoyne & Verdu Woodlands
Zoning GLR4YY
Interior
Fireplace No
Laundry Common Area
Exterior
Pool None
Community Features Biking
Private Pool No
Building
Lot Description 6-10 Units/Acre
Story 1
Entry Level One
Sewer Private Sewer
Water Private
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 5644011008
Acceptable Financing Cash, Cash to New Loan, Conventional
Listing Terms Cash, Cash to New Loan, Conventional
Special Listing Condition Standard
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Listed by Levon Alexanian • Keller Williams World Media Center • info@alexanianadvisors.com