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Verdugo Vista Apartments 1636 N Verdugo Rd 60 Unit Apartment Building $21,000,000 ($350,000/Unit) 5% Cap Rate Glendale, CA 91208
Investment Highlights
- EXCELLENT ACCESS TO PUBLIC TRANSIT AND FREEWAYS
- AMPLE SUBTERRANEAN PARKING
- MULTIPLE COMMUNITY ENTERTAINMENT SPACES
- GLENDALE COMMUNITY COLLEGE
Executive Summary
CBRE, Inc. is proud to exclusively preset Verdugo Vista, a distinguished multifamily asset nestled in Glendale, California -”The Jewel City."
Strategically positioned between Verdugo Vista Drive and Kirkby Road, this exceptional property presents investors with a rare opportunity to acquire a premier holding in one of Southern California's most coveted submarkets.
Rising four stories on a ±27,257 SF GLR4-zoned parcel, this 1974-constructed gem encompasses ±59,257 SF of meticulously designed living space. The property's thoughtfully curated unit mix features eighteen one-bedroom/one-bathroom units, thirteen two-bedroom/one-bathroom units, and twenty-seven two-bedroom/two-bathroom units totaling fifty-eight units that cater to diverse tenant profiles.
Northern Glendale's crown jewel offers unparalleled connectivity, with seamless access to the I-134 and I-2 freeways placing the entire region within effortless reach. Residents enjoy an enviable lifestyle surrounded by top-rated public schools, world-class dining destinations, artisan bakeries, specialty coffee houses, and essential services along bustling corridors connecting Burbank and Pasadena. The iconic Americana at Brand, Glendale Galleria, and vibrant downtown Glendale elevate the location's appeal to exceptional heights.
While Glendale remains free from citywide rent control ordinances, the property operates under AB-1482 guidelines. With robust market fundamentals anchoring its performance, 1636 N Verdugo Road represents an outstanding acquisition for investors pursuing appreciation potential, reliable cash flow, and a proven inflation hedge in one of California's most resilient markets.
Strategically positioned between Verdugo Vista Drive and Kirkby Road, this exceptional property presents investors with a rare opportunity to acquire a premier holding in one of Southern California's most coveted submarkets.
Rising four stories on a ±27,257 SF GLR4-zoned parcel, this 1974-constructed gem encompasses ±59,257 SF of meticulously designed living space. The property's thoughtfully curated unit mix features eighteen one-bedroom/one-bathroom units, thirteen two-bedroom/one-bathroom units, and twenty-seven two-bedroom/two-bathroom units totaling fifty-eight units that cater to diverse tenant profiles.
Northern Glendale's crown jewel offers unparalleled connectivity, with seamless access to the I-134 and I-2 freeways placing the entire region within effortless reach. Residents enjoy an enviable lifestyle surrounded by top-rated public schools, world-class dining destinations, artisan bakeries, specialty coffee houses, and essential services along bustling corridors connecting Burbank and Pasadena. The iconic Americana at Brand, Glendale Galleria, and vibrant downtown Glendale elevate the location's appeal to exceptional heights.
While Glendale remains free from citywide rent control ordinances, the property operates under AB-1482 guidelines. With robust market fundamentals anchoring its performance, 1636 N Verdugo Road represents an outstanding acquisition for investors pursuing appreciation potential, reliable cash flow, and a proven inflation hedge in one of California's most resilient markets.
Property Facts
| Price | $21,000,000 | Building Class | B |
| Price Per Unit | $350,000 | Lot Size | 0.63 AC |
| Sale Type | Investment | Building Size | 59,257 SF |
| Cap Rate | 5% | Average Occupancy | 98% |
| No. Units | 60 | No. Stories | 5 |
| Property Type | Multifamily | Year Built | 1974 |
| Property Subtype | Apartment | Parking Ratio | 1.47/1,000 SF |
| Apartment Style | Mid-Rise | ||
| Zoning | GLR4YY - Restricted Density Multiple Dwelling | ||
| Price | $21,000,000 |
| Price Per Unit | $350,000 |
| Sale Type | Investment |
| Cap Rate | 5% |
| No. Units | 60 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.63 AC |
| Building Size | 59,257 SF |
| Average Occupancy | 98% |
| No. Stories | 5 |
| Year Built | 1974 |
| Parking Ratio | 1.47/1,000 SF |
| Zoning | GLR4YY - Restricted Density Multiple Dwelling |
Amenities
Unit Amenities
- Dishwasher
- Disposal
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Carpet
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Security System
- Tenant Controlled HVAC
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 30 | - | 700 |
| 2+2 | 30 | - | 1,000 |
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 5652-011-027 | Improvements Assessment | $4,656,745 |
| Land Assessment | $1,974,686 | Total Assessment | $6,631,431 |
Property Taxes
Parcel Number
5652-011-027
Land Assessment
$1,974,686
Improvements Assessment
$4,656,745
Total Assessment
$6,631,431
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