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$2,799,999
Est. payment /mo
7,740 Sqft Lot
UPDATED:
12/13/2024 07:14 PM
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID GD24186109
HOA Y/N No
Year Built 1962
Lot Size 7,740 Sqft
Property Description
Unique and Prime investment opportunity 10 units in desirable Glendale Glenoaks area. Pride of ownership, Owns for about 50 years. Due to this long term ownership relationship with great tenants, the current rents have remained very low, leaving about 80% upside in rents Current rents are significantly below market, for 10 units totaling about $165,000 a year. One 3 bed 2 bath, Two 2 bed 1 bath, Five 1 bed 1 bath, Two single. The rents in the area for a 3 bedroom unit can be over $3,500, for 2 bed $2800 and 1 bed $2100 a month. Some TLC on this property current rents can potentially go up about $267,000 a year. The property is centrally located for commutes, supermarkets, restaurants and schools . Driving distance downtown Los Angeles, Burbank, Montrose, Americana and Glendale Galleria, NOHO district, Old Town Pasadena, and the Rose Parade, JPL. Local LA and Hollywood attractions include the Music Center, Disney Music Hall, and Hollywood Bowl.
This 10 units is truly one of a kind and great investment. Per seller, inside 6 units are updated, Has copper plumbing, newer water heater, walk way, all wall heaters and wall A/C’s, about 13 parking, Everything in this area sells quickly, priced right and will not last long in this market.
This 10 units is truly one of a kind and great investment. Per seller, inside 6 units are updated, Has copper plumbing, newer water heater, walk way, all wall heaters and wall A/C’s, about 13 parking, Everything in this area sells quickly, priced right and will not last long in this market.
Location
State CA
County Los Angeles
Area 626 - Glendale-Northwest
Zoning GLR4YY
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplaces Type See Remarks
Fireplace Yes
Laundry Common Area
Exterior
Garage Spaces 13.0
Garage Description 13.0
Pool None
Community Features Curbs
Roof Type Flat
Total Parking Spaces 13
Private Pool No
Building
Lot Description Yard
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 5623031015
Energy Description 3120.0
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
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Listed by Vartan Markarian • Markarian Realty • MarkarianRealty@gmail.com