615 S Columbus Ave - Apartments FOR SALE


Glendale, CA 91204- Pacific-Edison
$6,400,000 USD
310-387-3489
615 S Columbus Ave, Glendale, CA for Sale
$6,400,000 USD
Apartments - FOR SALE
1/40
null | 5.16% Cap Rate

615 S Columbus Ave
Glendale, CA 91204
Pacific-Edison


OVERVIEW

California Court, located at 615 S. Columbus Avenue, is a beautifully restored 13-unit California bungalow-style 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 twelve (12) one-bedroom/one-bathroom units and one (1) studio, all meticulously renovated to meet strong tenant demand in the area. A RUBS (Ratio Utility Billing System) program has been implemented across all units, optimizing operational efficiency and maintaining a sub-30% expense ratio for future ownership. Additional income is generated through eight garages and five surface parking spaces, which also offer the potential for conversion into three (3) 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%.

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 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
310-387-3489

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John AldenDover Management CorporationMore Info
310-387-3489

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