The MayBro Apartment Portfolio Multi-Family FOR SALE


Glendale, CA - Citrus Grove
$7,500,000 USD
818-212-2696
, Glendale, CA for Sale
$7,500,000 USD
Multi-Family - FOR SALE
1/23
null | 5.77% Cap Rate

The MayBro Apartment Portfolio
Glendale, CA
Citrus Grove


HIGHLIGHTS

  • All One-Bedroom Units
  • Most Units Have Been Remodeled
  • On-Site Laundry Rooms
  • 32 Combined Parking Spaces
  • Short Distance from Glendale College and Occidental College
  • Landlord Friendly City – Glendale is Subject to AB1482 and Allows Higher Rental Increase Amounts than the City of LA or Unincorporated LA

OVERVIEW

The MayBro Apartment Portfolio, a thirty-two-unit multifamily investment opportunity located in the Citrus Grove neighborhood of Glendale. Offered for sale for the first time in nearly 20 years, 121 Maynard St. and 1502 E. Broadway provide an investor with the opportunity to acquire two sixteen-unit apartment buildings on separate parcels with over 15% in rental upside. Constructed in 1954, both properties are comprised of sixteen one-bedroom/one-bathroom units. The average unit sizes at both properties are almost 500 square feet, and most units have been renovated during ownership. Each property has its own on-site laundry room, and all units are separately metered for gas and electricity and have individual hot water heaters. 1502 E. Broadway provides tenants with 20 parking spaces and 121 Maynard St. provides tenants with 12 parking spaces and 12 storage units. There is also an additional owner’s storage shed at the rear of 121 Maynard St. Both properties are zoned for R2250. Situated south of E. Broadway, north of Colorado Blvd., and west of S. Verdugo Rd., The MayBro Apartment Portfolio are conveniently located the on-ramp to the 134 and 2 freeways, offering commuters ease of access to North Glendale, San Gabriel Valley, and Downtown Los Angeles. Moreover, the property is within a short distance of Eagle Rock and the variety of local businesses along Colorado Blvd. as well as the Americana and Glendale Galleria. For students, the property is also within a short distance of Glendale Community College and Occidental College in Eagle Rock. The property’s proximity to these areas ensures a high demand for rental units.

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.