1060 Elm Ave | Glendale, CA 91201
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1060 Elm Ave
Glendale, CA 91201
21-unit Value add in Glendale, near Burbank · Multifamily Property For Sale
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21 Units
INVESTMENT HIGHLIGHTS
- Outstanding location in the city of Glendale bordering City of Burbank; Minutes to IKEA Burbank and Downtown Burbank!
- NO LOCAL RENT CONTROL! Highest allowable rent increases under CA AB1482 (5% + CPI)
- ZERO ELECTRIC BILLS! Solar panels installed – owner receives credit from electric company!
- High CAP rate and historically low vacancy; First time for sale since 2003; Value add opportunity with many MTM tenancy
- Gated-community apartment living constructed in 1977; Side-by-side gated, underground parking with a total of 31 parking spaces
- Large units with excellent layout and value-add potentials; Most tenants are mtm tenants
PROPERTY FACTS
| No. Units | 21 | Building Size | 15,110 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1977 |
| Building Class | C | Parking Ratio | 2.05/1,000 SF |
| Lot Size | 0.36 AC | ||
| Zoning | R4, Glendale - Medium Density Multiple Residence | ||
| No. Units | 21 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.36 AC |
| Building Size | 15,110 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1977 |
| Parking Ratio | 2.05/1,000 SF |
| Zoning | R4, Glendale - Medium Density Multiple Residence |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Range
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 15 | - | - |
| 2+2 | 4 | - | - |
| 3+2 | 1 | - | - |
| Studios | 1 | - | - |
PROPERTY TAXES
| Parcel Number | 5624-006-024 | Improvements Assessment | $4,616,254 |
| Land Assessment | $3,077,503 | Total Assessment | $7,693,757 |
PROPERTY TAXES
Parcel Number
5624-006-024
Land Assessment
$3,077,503
Improvements Assessment
$4,616,254
Total Assessment
$7,693,757
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