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411 Lincoln Ave
Glendale, CA 91205
Lincoln Gardens Townhouse Apartments · Multifamily Property For Sale
·
36 Units
EXECUTIVE SUMMARY
George Issaians of KW Americana has been retained as the exclusive listing agent to market a rare opportunity to acquire a 36 townhome-style unit apartment building built in 1987, located in a prime Glendale location. The subject property is within walking distance to local schools, shopping, and the 2 Freeway. The property is being offered for the first time in 38 years by its owner. The property features 36 spacious two-bedroom / two-bath townhome units. There are 63 parking spaces in the
subterranean parking with electrically operated gates. There are 14 storage spaces in the parking area, as well as a laundry room with four washers and four dryers owned by the seller. Also, there is a conveniently located barbecue area for the tenants’ use. All units are separately metered for gas and electric. Cold water is paid for by the landlord. The majority of the units have been renovated with vinyl flooring and new appliances. The current rents are below market and can easily be increased based on the current Glendale rent ordinance.
subterranean parking with electrically operated gates. There are 14 storage spaces in the parking area, as well as a laundry room with four washers and four dryers owned by the seller. Also, there is a conveniently located barbecue area for the tenants’ use. All units are separately metered for gas and electric. Cold water is paid for by the landlord. The majority of the units have been renovated with vinyl flooring and new appliances. The current rents are below market and can easily be increased based on the current Glendale rent ordinance.
PROPERTY FACTS
| Price Per Unit | $409,722 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.21 AC |
| Cap Rate | 5.20% | Building Size | 32,820 SF |
| Gross Rent Multiplier | 13.21 | Average Occupancy | 94% |
| No. Units | 36 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1987 |
| Property Subtype | Apartment | Parking Ratio | 1.09/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R4, Glendale | ||
| Price Per Unit | $409,722 |
| Sale Type | Investment |
| Cap Rate | 5.20% |
| Gross Rent Multiplier | 13.21 |
| No. Units | 36 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.21 AC |
| Building Size | 32,820 SF |
| Average Occupancy | 94% |
| No. Stories | 2 |
| Year Built | 1987 |
| Parking Ratio | 1.09/1,000 SF |
| Zoning | R4, Glendale |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Disposal
- Heating
- Tile Floors
- Range
- Carpet
SITE AMENITIES
- Laundry Facilities
- Gated
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2 | 36 | - | 900 |
PROPERTY TAXES
| Parcel Number | 5680-020-082 | Improvements Assessment | $9,842,814 |
| Land Assessment | $6,561,876 | Total Assessment | $16,404,690 |
PROPERTY TAXES
Parcel Number
5680-020-082
Land Assessment
$6,561,876
Improvements Assessment
$9,842,814
Total Assessment
$16,404,690
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