Glendale - Grandview

1060 Elm Avenue

Glendale, CA 91201
MLS# AR21147178
$7,450,000
6 BEDS ∙ 6 BATHS
Active
DAYS ON MARKET: 104
No photo

Listing provided courtesy of: GIG Real Estate Inc.

Property Description

Income specified is income effective Jan 2022 (with latest rent increases). 1060 Elm Avenue, a value-add 21-unit apartment located in the highly desirable city of Glendale, bordered by the City of Burbank. The property offers superb location with access to many amenities, within walking distance to IKEA Burbank, Burbank Downtown, many shopping centers, close to schools, parks, local and national retailers, dining and upscale shopping, entertainment, and easy access to freeways (5 FWY and 134 FWY). The property has been in the same ownership since 2003 and most of the tenants are long-time tenants that are on month-to-month lease. This provides significant upside potential to add value by increasing rent and return. The property is a two-story garden style apartment community with gated, subterranean parking and secured entrance. It has an excellent curb appeal with nicely maintained center courtyard. It is situated on a residential street surrounded by other a single-family and condominium communities (across the street from a newly built modern, high-end condominiums). Built in 1977, it offers a superb unit mix of (1) 3 bed + 2 bath unit, (4) 2 bed + 2 bath units, (15) 1 bed + 1 bath units, and (1) Studio unit (non-conforming) with a total of 31 gated parking spaces on a lot size of 15,532 SF with a total building size of 15, 110 SF. The property has been well maintained throughout current ownership with recently incorporated cost-efficient features such as, electricity generating solar system (zero electric bill owner gets credit from electric provider), electric eye, 60

  • Features:

    Range/Oven Wall/Window Unit(s)

Listing provided courtesy of: GIG Real Estate Inc.. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS®. This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particularproperty. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2021 San Diego MLS®, Inc. Listing last updated on 10/20/2021 17:35:44

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