1160 Elm 1160 Elm Ave 34 Unit Apartment Building $11,500,000 ($338,235/Unit) 5.66% Cap Rate Glendale, CA 91201

Marcus & Millichap presents 1160 Elm Avenue, a thirty-four-unit multifamily investment opportunity located in the Grandview neighborhood of Glendale.
Constructed in 1986, the asset comprises sixteen two-bedroom/one-and-half-bathroom units, four two-bedroom/one-bathroom units, and fourteen one-bedroom/one-bathroom units spread across four structures. All units have separate meters for gas and electricity, individual water heaters, and 60 AMPs of power. The property has gated entry, an on-site laundry room with two washers and two dryers, 56 parking spaces, and a vacant recreation room that is used as storage but can potentially be converted into an ADU. The property sits on a 26,325 square foot lot and is zoned R2250, making the existing thirty-four units irreplaceable with the current zoning.
Situated just north of Glenoaks Blvd and east of Alameda Ave, 1160 Elm is within 2 miles of Burbank’s Media City Center and less than 1 mile from IKEA. Glenoaks Blvd is a major thoroughfare that runs through Glendale, Burbank, Sun Valley, and into northeast San Fernando Valley. Tenants can benefit from a variety of retail and places of business along this corridor. Commuters are within five minutes from the nearest on-ramp to the I-5 Freeway, offering ease of access to the 134 Freeway, Burbank, Los Feliz, Atwater and Downtown Los Angeles.