Active

311 E Maple Street

Glendale CA, 91205

$2,950,000


$415.55 per sqft

Active

7,099 sqft

Condo

Built in 1974

Listed by Vahik Beglarian with Coldwell Banker Hallmark 818-476-3000

Excellent opportunity to purchase an eight (8) unit apartment building with a significant upside in rental income. 311 E. Maple Street is an 8-unit multifamily property in the desirable southeast area of Glendale, CA. This property provides a tremendous opportunity for an investor to acquire pride in ownership of an asset that has been professionally managed and cared for. As it's the first time in the market after 39 years of ownership, this is truly an irreplaceable asset to own.
The property is a two-story building that was constructed in 1974 and consists of two large 2bed and 1.3/4bath units and six 1bed and 1bath units. Large roomy units (Buyer to verify the square footage if required). It also includes thirteen (13) parking spaces that include a combination of a private two (2) car garage, which is being used by the owner as storage currently, eleven (11) surface carport parking spaces, which are used by the tenants, a large on-site laundry room, and very minimal landscaping. Most tenants are on a month-to-month basis, and units are separately metered for gas and electricity. The property is within a short distance to multiple bus stops located on Glendale Avenue and Brand Boulevard, in addition to nearby retail shops and businesses. It provides tenants with ease of access to larger retail centers located at the Glendale Galleria, the Americana of Glendale, and Atwater Village. Tenants also have easy access and proximity to the 134 and 5 Freeways.
Buyers might explore the opportunity to convert the two-car private garage into an ADU, this could be a great opportunity to boost future rental revenue and income stream, raising the overall value of the investment. Buyer to verify with the city for associated ADU conversion requirements.
The roof was replaced/refinished in 2018 with TPO compound material and has a 20-year warranty. Newly painted building.

GD23226348

MLS ID

December 18, 2023

Listed

February 23, 2024

Updated

Map

311 E Maple Street
Glendale CA, 91205

Interior Features

Total Stories

1


Laundry Description

Common Area


Fireplace

No


Cooling

No


Heating

Yes


Heating Description

Radiant

Exterior/Building Features

Lot Size

0.2 Acres


Lot Features

Sprinklers In Front, Landscaped, Street Level


Sewer

Public Sewer

Other Property Details

Area Name

628 - Glendale-South of 134 Fwy


Days on Market

66


Garage

Yes


Garage Spaces

2


Parking

Attached Carport, Assigned, Carport, Door-Multi, Detached Carport, Driveway, Garage


Parking Total

14


View

No


View Description

None


County

Los Angeles


Water Source

Public


Pool

No


Pool Features

None


Zoning

GLR4*


Buyer Agency Compensation

2.5%

Listing History

Date

Event

Price

2/10/2024

Price Change

$2,950,000

-2%

2/9/2024

Price Change

$2,950,000

-2%

2/7/2024

Price Change

$2,995,000

-5%

2/2/2024

Price Change

$2,995,000

-5%

Listing Contact: 818-476-3000 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 2/23/2024. 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.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 2/23/2024 at 1:38 AM UTC

 

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