Active

1055 Grover Avenue

Glendale CA, 91201

$3,100,000


$429.90 per sqft

Active

7,211 sqft

Condo

Built in 1962

Listed by Vartan Markarian with Markarian Realty 818-248-8668

Unique and Prime investment opportunity to purchase 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. 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.

GD24013603

MLS ID

January 23, 2024

Listed

February 16, 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


Buyer Agency Compensation

1.5%

Listing Contact: 818-248-8668 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 2/16/2024. 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 2/16/2024 at 4:14 AM UTC

 

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