366 W Palmer Ave - Apartments FOR SALE


Glendale, CA 91204- Tropico
$1,650,000 USD
818-642-0242
366 W Palmer Ave, Glendale, CA for Sale
$1,650,000 USD
Apartments - FOR SALE
1/13
null | 5.01% Cap Rate

366 W Palmer Ave
Glendale, CA 91204
Tropico


HIGHLIGHTS

  • New Electrical & Copper Plumbing
  • Rear Structure Built in 1924
  • New asphalt and Concrete
  • New Roof Rear Building
  • 3 Units Renovated (w/Washer and Dryer Hookups)
  • ADU Potential w/ existing Garages

OVERVIEW

TOURS: Wednesday, April 9th, 11:30am - 2:00pm!!!! We are pleased to present 366 W. Palmer Ave., Glendale—a well-maintained 6-unit property with 20% upside potential, making it a prime value-add opportunity in one of San Fernando Valley’s strongest rental submarkets of Glendale . This property features a desirable unit mix with significant income growth potential, supported by recent capital improvements, including a brand-new roof on the rear building, updated electrical main panel and subpanels, new copper plumbing, and new asphalt and concrete—reducing future maintenance costs. Strategically located in a high-demand rental market, the property benefits from proximity to employment hubs, shopping centers, and major transportation corridors. With Glendale experiencing strong rent growth, this is an excellent investment for those seeking long-term appreciation and income stability. Additionally, three units offer room for interior upgrades, providing investors with the opportunity to increase rental income and capitalize on the continued demand for quality housing in the San Fernando Valley. Further enhancing its value-add potential, buyers can also explore converting the existing garages into two additional 1-bedroom units, creating even greater income potential. Don’t miss this exceptional investment opportunity!

FOR SALE DETAILS

PRICE

$1,650,000 USD

PRICE/SF

$405 USD /SF

# OF UNITS

6

PRICE/UNIT

$275,000

CAP RATE

5.01%

% 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

1897

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.22 AC

LAND SF

9,583 SF

ZONING

GLR4P

APN/PARCEL ID

5640-007-005

ASK ABOUT THIS PROPERTY

Akash SainiKW CommercialMore Info
818-642-0242

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Akash SainiKW CommercialMore Info
818-642-0242

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