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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