1801-1809 Verdugo Loma Dr - Apartments FOR SALE


Glendale, CA 91208- Verdugo Woodlands
$2,000,000 USD
818-212-2696
1801-1809 Verdugo Loma Dr, Glendale, CA for Sale
$2,000,000 USD
Apartments - FOR SALE
1/28
null | 4.81% Cap Rate

1801-1809 Verdugo Loma Dr
Glendale, CA 91208
Verdugo Woodlands


HIGHLIGHTS

  • Well Maintained Asset
  • Excellent Unit Mix – Mostly 2 Bedroom Units
  • Detached Garage
  • Delivered with One Vacant Unit
  • Landlord Friendly City – Glendale is Subject to AB1482 and Allows Higher Rental Increase Amounts than the City of LA or Unincorporated LA County

OVERVIEW

Marcus & Millichap presents 1801 Verdugo Loma Drive, a rare five-unit multifamily investment opportunity located in the Verdugo Woodlands neighborhood of northeast Glendale. Situated just north of Glendale Community College, this generational asset will be delivered with one 2bed/1.5bath unit vacant, allowing for the new investor to renovate the unit before lease-up or the possibility for owner occupancy. Constructed in 1954, the asset comprises two 1bed/1bath units, two 2bed/1.25bath units, and one 2bed/1.5bath unit spread across 4,960 square feet. The asset provides separate gas and electric meters for each unit, hot water serviced by two central water heaters, an on-site laundry room with one washer and one dryer, and a detached parking structure with three 2-car garages. The lot spans 9,146 square foot lot and is zoned R2250, making the existing number of units irreplaceable with the current zoning. Situated just north of fork where Verdugo Rd. and Cañada Blvd. split, 1801 Verdugo Road is a half mile from Glendale Community College and 2.5 miles from Montrose Village Square. The area is one of the most sough after neighborhoods in the city. Commuters are within minutes from the nearest on-ramp to the CA-2, offering ease of access to the to all of the Tri-Cities (Glendale, Burbank, and Pasadena).

FOR SALE DETAILS

PRICE

$2,000,000 USD

PRICE/SF

$403 USD /SF

# OF UNITS

5

PRICE/UNIT

$400,000

CAP RATE

4.81%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1954

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.2 AC

LAND SF

8,712 SF

ZONING

R2250

APN/PARCEL ID

2438-024-022

ASK ABOUT THIS PROPERTY

Sara VitaMarcus & MillichapMore Info
818-212-2696

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

Sara VitaMarcus & MillichapMore Info
818-212-2696

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