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2320 Glendale Blvd
Los Angeles, CA 90039
Multifamily Property For Sale
·
16 Units
PROPERTY FACTS
| No. Units | 16 | Building Size | 12,584 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1957 |
| Building Class | C | Parking Ratio | 1.27/1,000 SF |
| Lot Size | 0.34 AC | ||
| Zoning | R3-1, Los Angeles | ||
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 12,584 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1957 |
| Parking Ratio | 1.27/1,000 SF |
| Zoning | R3-1, Los Angeles |
AMENITIES
UNIT AMENITIES
- Heating
- Kitchen
- Range
SITE AMENITIES
- Courtyard
- Laundry Facilities
ABOUT 2320 GLENDALE BLVD , LOS ANGELES, CA 90039
Marcus & Millichap is pleased to present an 16 unit apartment building on Glendale Blvd in prime Silver Lake, California. Located in the center of Silver Lake, 2320 Glendale Blvd is a perfect location for a tenant to embrace the Silver Lake lifestyle. Built in 1957 and subject to rent control, the property consists of Eight (8) One Bedroom/One Bathroom units, Seven (7) Two Bedroom/One Bathroom Units, and One (1) Three Bedroom/Two Bathroom unit. Tenants are attracted to the property given the various amenities offered which include spacious units, secured access, on-site parking, on-site laundry, and an open courtyard. While the current owners have been successful in achieving reasonable rents, there is still significant upside in rental income. There is still opportunity to create significantly higher income by completing the rehabs on some of the interiors and moving rents to market as the units turnover. 2320 Glendale Blvd is an excellent opportunity for an investor looking to purchase a pride of ownership apartment complex in the heart of Silver Lake with significant upside in the rents. ****Seismic Retrofitting (Approx $41,000) has been completed and the owners are currently working on getting the tenant Cost Recovery approved by the city. *****Brand new roof put on in 2018 (Approx $30,000)
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | - | - |
| 2+1 | 7 | - | - |
| 3+2 | 1 | - | - |
PROPERTY TAXES
| Parcel Number | 5440-005-005 | Improvements Assessment | $1,200,000 |
| Land Assessment | $2,800,000 | Total Assessment | $4,000,000 |
PROPERTY TAXES
