A charming 5-unit property with major value-add potential in Glendale for an unheard-of price per door of $250,000! Located in an outstanding location that is a short walk to the Glendale Galleria & the Americana at Brand. Plus, there is tons of upside to capture with a possible ADU conversion of the existing 2-car garage. The current cap rate is 4.49% and we project a very conservative pro forma cap rate of 5.70%. 1 unit vacant: immediate opportunity to maximize rent!
5.70% (pro forma)
12.63 (pro forma)
VALUE ADD + ADU OPPORTUNITY!!
Best price per door in Glendale!
All 1b/1b units!
Ultra-easy to rent
High cap rate
1 unit vacant
No LA City rent control
Character wood beamed ceilings
Super low maintenance
High demand rental market
Quiet, paying tenants
Hardwood floors in several units
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< 10-Minute Walk
Palmer Park, Kafn Coffee, Starbucks, Elena's Greek Armenian Restaurant, Sarkis Pastry, The Greyhound Bar & Grill, Toasted Bun Restaurant, For The Win, Why Not Kabob, Bliss Restaurant, Shakey's Pizza Parlor, Hamlet's Kitchen, Front Yard Burger
< 5-Minute Drive
The Americana at Brand, The Glendale Galleria, Nordstrom, The Cheesecake Factory, Trattoria Amici, Target, Costco, Whole Foods, Trader Joes, The Coffee Bean, Salt & Straw, Pressed Juicery, Nespresso Boutique, lululemon, Ombra Wine Bar & Restaurant
< $15 Uber Ride
The Glendale Galleria, Frida Mexican Cuisine, Bar Verde, Griffith Park, Capri Club, Atwater Village, Downtown Burbank, Silver Lake, AMC Americana at Brand, The Morrison Glendale Tap, Tavern on Brand, Club Tee Gee, Blu Jam Cafe
Submit your offers now!
Impossibly rare opportunity to purchase a five unit for only $1,250,000 in Glendale
BEST PRICE PER DOOR IN THE AREA AT ONLY $250,000
Current cap rate of 4.49% and significant upside: pro forma cap rate of 5.70%
One unit vacant: immediate opportunity to maximize rent
VALUE ADD OPPORTUNITY with two units still needing upgrades and possible ADU conversion of the 2-car garage
One mile from the iconic Americana at Brand & Glendale Galleria
Significantly better price per unit, GRM and cap rate than the sales comps in Glendale
Boasts quiet tenants that all pay rent!
A 5-unit that is priced the same (or much lower) than duplexes, triplexes and fourplexes in Glendale
Excellent location nearby all of Glendale’s most convenient destinations
Moments from countless conveniences such as Whole Foods, Target, Trader Joes, Costco and much more
Made up of ALL 1b/1b units which are ALWAYS in high demand and are HIGHLY rentable
Ownership in Glendale comes with many perks, including access to the city’s own excellent public school system, police force and fire department
Units boast character wood-beamed ceilings
Situated on a corner lot