$1,199,000
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350 Vine Street Glendale, CA 91204
Apartment
Residence
Beds
Baths
...
Bed/Bath
4,645
Sq. Ft.
Property Activity
Time on Site
days
Days on Market
Views
Saves
Value Add 5 unit apartment building located in the heart of Glendale in close proximity to the Galleria and Americana. This is a trust sale and the property is being sold in its as-is condition with long term tenants in place and has been priced accordingly. Current rents are approximately 35% of ma...rket rents. Drive by only. Do not enter the property or disturb the tenants. Make all offers subject to inspection.The property has significant upside for a buyer with the experience to manage and renovate the property.There are four 2 bedroom 1.5 bath units and one 1 bedroom 1 bath unit. Market rents after renovation are estimated at $2,750/ month each for the 2 bedroom units and $1,750/ month for the one bedroom unit and the stabilized value could be in the range of $2,000,000 which is approximately $400,000/unit and $430/SF using a gross income multiplier of 13. Buyer is advised to conduct their own due diligence with regard to future market rents and value. Buyer should familiarize themselves with State of California AB 1482 and the City of Glendale Rental Rights Program and other laws related to rental increases and relocation assistance. Roll up your sleeves, get to work and create value.
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MLS#
P1-18302
Property Type
Apartment
Year Built
1965
Square Feet
4,645
sq. ft
Lot Size
0.15
Stories
2.0
Sewer
Public Sewer
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