1055 Grover Ave - Apartments FOR SALE


Glendale, CA 91201- Grandview
$2,550,000 USD
818-242-8668
1055 Grover Ave, Glendale, CA for Sale
$2,550,000 USD
Apartments - FOR SALE
1/31
null | 5.3% Cap Rate

1055 Grover Ave
Glendale, CA 91201
Grandview


OVERVIEW

Unique and Prime investment opportunity 10 units in desirable Glendale Glenoaks area. Pride of ownership, Lowest price per unit in Glendale $255 k/unit. 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.

FOR SALE DETAILS

PRICE

$2,550,000 USD

PRICE/SF

$228 USD /SF

# OF UNITS

10

PRICE/UNIT

$255,000

CAP RATE

5.3%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1962

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,841 SF

ZONING

GLR4YY

APN/PARCEL ID

5623-031-015

ASK ABOUT THIS PROPERTY

'Vic' Vartan MarkarianMarkarian RealtyMore Info
818-242-8668

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'Vic' Vartan MarkarianMarkarian RealtyMore Info
818-242-8668

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.