ACTIVE
1055 Grover Avenue
Glendale CA, 91201
$3,000,000
ACTIVE
6 Beds
Multi-family
Unique and Prime investment opportunity 10 units in desirable Glendale Glenoaks area. Pride of ownership, Owns for about 50 years. Due to this long term ownership relationship with great tenants, the current rents have remained very low, leaving about 80% upside in rents Current rents are significantly below market, for 10 units totaling about $151,380 a year. One 3 bed 2 bath, Two 2 bed 1 bath, Five 1 bed 1 bath, Two single. The rents in the area for a 3 bedroom unit can be over $3,000, for 2 bed $2500 and 1 bed $2000 a month. Some TLC on this property current rents can potentially go up about $252,000 a year. The property is centrally located for commutes, supermarkets, restaurants and schools . Driving distance downtown Los Angeles, Burbank, Montrose, Americana and Glendale Galleria, NOHO district, Old Town Pasadena, and the Rose Parade, JPL. Local LA and Hollywood attractions include the Music Center, Disney Music Hall, and Hollywood Bowl. This 10 units is truly one of a kind and great investment. Per seller, inside 6 units are updated, Has copper plumbing, newer water heater, walk way, all wall heaters and wall A/Cs, about 13 parking, Everything in this area sells quickly, priced right and will not last long in this market.
GD24047499
MLSⓇ ID
March 8, 2024
Listed
May 9, 2024
Updated
Map
1055 Grover Avenue
Glendale CA, 91201
Interior Features
Total Stories
2
Bedrooms
6
Fireplace
No
Cooling
Yes
Cooling Description
Wall/Window Unit(s)
Heating
No
Exterior/Building Features
Lot Size
0.18 Acres
Lot Features
Curbs
Other Property Details
Days on Market
6
Garage
No
View
No
County
Los Angeles
Pool
No
Pool Features
None
Zoning
Assessor
Buyer Agency Compensation
2%
Listing History
Date | Event | Price |
---|---|---|
3/14/2024 | Active | — |
3/13/2024 | Under Contract | — |
Listed by Markarian Realty, Vartan Markarian,
Listing Contact: 818-248-8668
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Data last updated 2:28 AM UTC, 5/9/2024