5081 Glen Iris Ave - Apartments FOR SALE


Los Angeles, CA 90041- Eagle Rock
$1,615,000 USD
626-429-0685
5081 Glen Iris Ave, Los Angeles, CA for Sale
$1,615,000 USD
Apartments - FOR SALE
1/42
null | 4.37% Cap Rate

5081 Glen Iris Ave
Los Angeles, CA 90041
Eagle Rock


OVERVIEW

Glen Iris Gardens is a beautifully maintained, pride-of-ownership 4-unit property located in the desirable Los Angeles neighborhood of Eagle Rock. Built in 1950, this charming 3,410 sqft, single-story asset sits on a 9,871 sqft lot. The property consists of 2 separate buildings featuring a raised foundation and pitched composition shingle roofs. The unit mix includes one 1-bedroom/1-bath unit, two 2-bedroom/1-bath units, and one 3-bedroom/1.75-bath unit. Each unit enjoys its own designated parking space (7 total) with Unit 5087 additionally renting a one-car storage space for $150/month. All units are individually metered for gas, electricity and hot water, while the owner covers water, sewer and trash services. Interiors boast of original hardwood floors or updated vinyl plank flooring, vinyl flooring in kitchens and bathrooms and charming tile or stone countertops alongside gas stoves/ovens. Each unit is equipped with wall A/C units and gravity heating for comfort. Threeunits (5081, 5083 and 5085) offer in-unit washer/dryer hookups, there is no common laundry facility. The property has original galvanized plumbing (repaired as needed) and older electrical sub-panels. Glen Iris Gardens is subject to Los Angeles rent control regulations, and buyers are advised to independently verify all property details. This is a rare opportunity to own a well-cared-for, low-maintenance income property in a strong rental market.

FOR SALE DETAILS

PRICE

$1,615,000 USD

PRICE/SF

$474 USD /SF

# OF UNITS

4

PRICE/UNIT

$403,750

CAP RATE

4.37%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Glen Iris Gardens

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1950

PARKING SPACES

7

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

9,871 SF

ZONING

LARD1.5

APN/PARCEL ID

5686-006-002

ASK ABOUT THIS PROPERTY

Kevin LutzKW CommercialMore Info
626-429-0685

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Kevin LutzKW CommercialMore Info
626-429-0685

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