CBC Advisors is proud to present the Columbus Apartments, a 30-Unit multifamily property located at 1219 N. Columbus Avenue in Glendale, CA 91202. Situated on a 22,900-sqare-foot lot, the offering is a 33,027 total square foot building that boasts a unit mix of spacious six (6) 1-bedroom/1-bathroom units and twenty-four (24) 2-bedroom/1.75-bathroom units. This property contains numerous features, including but not limited to, private patios/balconies; secured entry; subterranean parking garage for 51 cars; central A/C & heat; common area laundry & washer/dryer hooks-ups in each unit.
This non rent controlled asset built in 1989 is located in the Verdugo Viejo neighborhood of Glendale, one of Glendale' s best neighborhoods and rental markets. The same ownership group has owned the subject property since its development in 1989. Since their ownership, the property has been very well-maintained and stable. The property however, has rents that are well below the market rents that many recently development or improved buildings in the area are achieving. As a result, a new investor has the opportunity to substantially push market rents and long-term property value by implementing a capital improvement program with modern upgrades and features to both common areas and unit interiors.
