Active
1055 Grover Avenue
Glendale CA, 91201
$2,799,999
$388.30 per sqft
Active
7,211 sqft
Condo
Built in 1962
Listed by Vartan Markarian with Markarian Realty [email protected]
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 $165,000 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 $3,500, for 2 bed $2800 and 1 bed $2100 a month. Some TLC on this property current rents can potentially go up about $267,000 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/C's, about 13 parking, Everything in this area sells quickly, priced right and will not last long in this market.
GD24186109
MLSⓇ ID
September 8, 2024
Listed
October 1, 2024
Updated
Map
1055 Grover Avenue
Glendale CA, 91201
Interior Features
Total Stories
2
Laundry Description
Common Area
Fireplace
Yes
Fireplace Description
See Remarks
Cooling
Yes
Cooling Description
Wall/Window Unit(s)
Heating
Yes
Heating Description
Wall Furnace
Exterior/Building Features
Lot Size
0.18 Acres
Lot Features
Yard
Roof
Flat
Sewer
Public Sewer
Other Property Details
Area Name
626 - Glendale-Northwest
Garage
Yes
Garage Spaces
13
Parking Total
13
View
No
County
Los Angeles
Water Source
Public
Pool
No
Pool Features
None
Zoning
GLR4YY
Listing History
Date | Event | Price |
---|---|---|
9/9/2024 | Price change | $2,799,999 55% |
Listing Contact: 818-248-8668
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 10/1/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 10/1/2024 at 10:27 PM UTC