615 S Columbus Ave - Apartments FOR SALE


Glendale, CA 91204- Pacific-Edison
$6,400,000 USD
747-307-7767
615 S Columbus Ave, Glendale, CA for Sale
$6,400,000 USD
Apartments - FOR SALE
1/39
null | 5.16% Cap Rate

615 S Columbus Ave
Glendale, CA 91204
Pacific-Edison


HIGHLIGHTS

  • Embark on a California bungalow-style community with 13 units, recent renovations, RUBS program benefits, and additional income.
  • Including parking garages and surface parking spaces, generating income, and the potential to convert into ADUs.
  • Rare unit mix of 12 one-bed, one-bathroom units and one studio unit, all fully leased to single tenants or small families.
  • Family-friendly Pacific-Edison neighborhood, adjacent to Griffith Park, a vast array of nearby amenities, and direct access to Interstate 5.

OVERVIEW

California Court, located at 615 S Columbus Avenue, is a beautifully restored 13-unit California bungalow-style apartment complex. The courtyard property sits just five blocks from the Glendale Americana. The current owner has invested over $900,000 in capital improvements, including upgrades to electrical systems, plumbing, and exterior enhancements. The property comprises 12 one-bedroom, one-bathroom units and one studio, all of which have been meticulously renovated to meet the strong demand for tenants in the area. A RUBS (Ratio Utility Billing System) program has been implemented across all units, optimizing operational efficiency and maintaining an expense ratio of under 30% for future ownership. Additional income is generated through eight garages and five surface parking spaces, which also offer the potential for conversion into three ADUs, projected to bring in approximately $34,605 in additional annual rental revenue. With strategic investment in ADU construction and market rent adjustments, a new owner could achieve an exceptional return on cost of nearly 270%. California Court is ideally situated on a quiet palm-lined street in the Pacific-Edison neighborhood near Griffith Park. The property is within walking distance to Glendale Galleria, The Americana, and the Downtown Glendale Business District. This apartment community offers easy access to Interstate 5, making travel to other Los Angeles hotspots convenient. Additionally, residents are just blocks away from Atwater Village and Los Feliz neighborhoods, and only 10 minutes from DTLA, Burbank, Pasadena, and Hollywood.

FOR SALE DETAILS

PRICE

$6,400,000 USD

PRICE/SF

$742 USD /SF

# OF UNITS

13

PRICE/UNIT

$492,308

CAP RATE

5.16%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

California Court

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1923

PARKING SPACES

13

LAND DETAILS

LAND ACRES

0.43 AC

LAND SF

18,861 SF

ZONING

GLR4YY

APN/PARCEL ID

5696-014-040

ASK ABOUT THIS PROPERTY

John AldenDover Management CorporationMore Info
747-307-7767

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John AldenDover Management CorporationMore Info
747-307-7767

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