1638 Lake St - Apartments FOR SALE


Glendale, CA 91201- Riverside Rancho
$5,200,000 USD
310-941-5899
1638 Lake St, Glendale, CA for Sale
$5,200,000 USD
Apartments - FOR SALE
1/7
null | 5.53% Cap Rate

1638 Lake St
Glendale, CA 91201
Riverside Rancho


HIGHLIGHTS

  • Excellent Below Market Assumable Loan @ 3.64%
  • Charming Property in a Residential Pocket of Glendale
  • Comprised of 5 Structures on 3 Contiguous Parcels, on a Large Corner Lot
  • Highly Desirable Rental Market

OVERVIEW

The Jeff Louks Group is pleased to present this exceptional portfolio offering of 1638 Lake Street, 1640 Lake Street and 431 Winchester Avenue in the highly desirable Glendale market. This offering is a rare opportunity to acquire three contiguous multifamily properties totaling 19 units in this leading submarket. The portfolio comprises a diverse unit mix of 1) 3bed/1.5bath, 8) 2bed/1bath, 9) 1bed/1bath, and 1) Studio, catering to a wide range of tenant preferences. The properties, built in 1926 (1638 Lake St., 7 units), 1946 (431 Winchester Ave., 5 units), and 1953 (1640 Lake St., 7 units), feature a blend of vintage charm and mid-century appeal, with well-maintained structures that offer significant value-add potential. Investors can capitalize on Glendale’s strong rental demand, driven by its proximity to major employment hubs in Los Angeles, Burbank, and Pasadena, as well as its vibrant local amenities. The portfolio’s contiguous layout enhances operational efficiencies, while the diverse unit configurations provide flexibility for rent optimization.

FOR SALE DETAILS

PRICE

$5,200,000 USD

PRICE/SF

$490 USD /SF

# OF UNITS

19

PRICE/UNIT

$273,684

CAP RATE

5.53%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

1638-1640 Lake St & 431 Winchester Ave

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1926

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,575 SF

ZONING

GLR3*

APN/PARCEL ID

5626-014-021

ASK ABOUT THIS PROPERTY

Jeff LouksMarcus & MillichapMore Info
310-941-5899

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Jeff LouksMarcus & MillichapMore Info
310-941-5899

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