Courtesy: Pinnacle Estate Properties, Inc.
This 4-unit residential property provides an excellent opportunity for income-producing investments. Its location is unbeatable as it is situated conveniently near the 134 freeway, Burbank, Downtown Glendale, and the Glendale Galleria. Each unit has been impeccably maintained and offers spacious living areas with numerous upgrades throughout. This property is perfect for those who are looking for a prime location. Don't miss out on this exceptional investment opportunity!
California Court Bungalows, located at 615 S. Columbus Avenue, is a tastefully restored 13-unit California bungalow courtyard style asset located five blocks from the Glendale Americana. Current ownership has spent over $700,000 on capital improvements including new electric, plumbing and exterior work. The property is comprised of (12) 1 BD/1 BA units and (1) studio. All of the spacious units have been thoughtfully renovated to capitalize on the area’s strong tenant base. Current ownership has implemented a RUBS program across all units to improve operational efficiencies, allowing new ownership to operate the asset at a sub 30% expense ratio. Eight existing garages and (5) surface spaces provide current income, and also have the potential to be converted into three (3) ADUs for additional rental revenue of approximately $34,605. Based on estimates, a new owner can achieve a return on cost of nearly 270% by raising rents to market and completing additional investment into the ADU construction. 615 S. Columbus Avenue offers a fully assumable loan at 5.18% with 5 years of fixed financing and 2 years of interest only payments remaining.
Graceland Apartments, located at 107 N. Columbus Avenue, is a 13-unit historic American Four Square asset, located one block from the Glendale Americana. Current ownership has spent over one million dollars on capital improvements, including new electrical system, plumbing, and roofs. Spread across two parcels, Graceland Apartments has a strong unit mix, comprised of (2) 2 BD/1 BA, (6) 1 BD/1 BA, and (5) studios. Boasting spacious floorplans, the majority of the units have been thoughtfully restored to capitalize on the strong tenant base in the area. Current ownership has implemented a RUBS program across all units to improve operational efficiencies, allowing new ownership to operate the asset at a sub 30% expense ratio. Ten existing garages provide current income and also have the potential to be converted into (3) 2 BD/1 BA ADUs (approx. 700 SF each) for additional rental revenue of approximately $34,605 annually. Based on estimates, a new owner can achieve a return on cost of nearly 333%. by raising rents to market and investing into ADU construction.
One-of-a-kind property in the highly desirable Glendale Riverside Rancho! Exceptionally well-maintained fourplex with front house for the owner to privately enjoy! Beautifully and tastefully upgraded two-story front unit features four Bedrooms, two Bathrooms, new flooring, luxury Viking appliances, and a three-car garage. Three of the four units are one bedroom, one bathroom, and four parking spaces. The seller spent over $600,000 and remodeled the entire property, including the rental units. New carports, copper plumbing, new paint throughout, 20 solar panels(paid off), and washer/dryer hook-up for all units. This property is located with easy access to public transit and minutes away from Griffith Park, Ikea, Studios, Disney Imagineering, LA Equestrian Center, Downtown Burbank, coffee shops, and much more. Whether you are looking for a perfect investment or to live in one while the tenants pay for your expenses, this property is the one!
Glendale is located in California. Glendale, California has a population of 199,750. Glendale is less family-centric than the surrounding county with 29.99% of the households containing married families with children. The county average for households married with children is 32.35%.
The median household income in Glendale, California is $58,657. The median household income for the surrounding county is $61,015 compared to the national median of $57,652. The median age of people living in Glendale is 41.2 years.
The average high temperature in July is 87.2 degrees, with an average low temperature in January of 44.5 degrees. The average rainfall is approximately 20.8 inches per year, with 0 inches of snow per year.
