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1638-1640 LAKE ST & 431 WINCHESTER AVE 3 Multifamily Properties Offered at $4,725,000 in Glendale, CA
INVESTMENT HIGHLIGHTS
- Excellent Below Market Assumable Loan @ 3.64%
- Charming Property in a Residential Pocket of Glendale
- Highly Desirable Rental Market
- Large Corner Lot
- Comprised of 5 Structures on 3 Contiguous Parcels
- Across the Street from Benjamin Franklin Elementary
EXECUTIVE SUMMARY
The Jeff Louks Group is pleased to present this exceptional portfolio offering of 1638 Lake Street, 1640 Lake Street and 431 Winchester Avenue in the highly
desirable Glendale market. This offering is a rare opportunity to acquire three contiguous multifamily properties totaling 19 units in this leading submarket. The portfolio comprises a diverse unit mix of 1) 3bed/1.5bath, 8) 2bed/1bath, 9) 1bed/1bath, and 1) Studio, catering to a wide range of tenant preferences. The properties, built in 1926
(1638 Lake St., 7 units), 1946 (431 Winchester Ave., 5 units), and 1953 (1640 Lake St., 7 units), feature a blend of vintage charm and mid-century appeal, with well-maintained
structures that offer significant value-add potential. Investors can capitalize on Glendale’s strong rental demand, driven by its proximity to major employment hubs in Los Angeles, Burbank, and Pasadena, as well as its vibrant local amenities. The portfolio’s contiguous layout enhances operational efficiencies,
while the diverse unit configurations provide flexibility for rent optimization.
desirable Glendale market. This offering is a rare opportunity to acquire three contiguous multifamily properties totaling 19 units in this leading submarket. The portfolio comprises a diverse unit mix of 1) 3bed/1.5bath, 8) 2bed/1bath, 9) 1bed/1bath, and 1) Studio, catering to a wide range of tenant preferences. The properties, built in 1926
(1638 Lake St., 7 units), 1946 (431 Winchester Ave., 5 units), and 1953 (1640 Lake St., 7 units), feature a blend of vintage charm and mid-century appeal, with well-maintained
structures that offer significant value-add potential. Investors can capitalize on Glendale’s strong rental demand, driven by its proximity to major employment hubs in Los Angeles, Burbank, and Pasadena, as well as its vibrant local amenities. The portfolio’s contiguous layout enhances operational efficiencies,
while the diverse unit configurations provide flexibility for rent optimization.
TAXES & OPERATING EXPENSES (ACTUAL - 2024) |
ANNUAL |
|---|---|
| Gross Rental Income |
$478,235
|
| Other Income |
-
|
| Vacancy Loss |
$14,347
|
| Effective Gross Income |
$463,888
|
| Taxes |
-
|
| Operating Expenses |
-
|
| Total Expenses |
$175,592
|
| Net Operating Income |
$288,296
|
TAXES & OPERATING EXPENSES (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $478,235 |
| Other Income | |
|---|---|
| Annual | - |
| Vacancy Loss | |
|---|---|
| Annual | $14,347 |
| Effective Gross Income | |
|---|---|
| Annual | $463,888 |
| Taxes | |
|---|---|
| Annual | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Total Expenses | |
|---|---|
| Annual | $175,592 |
| Net Operating Income | |
|---|---|
| Annual | $288,296 |
PROPERTY FACTS
| Price | $4,725,000 | Number of Properties | 3 |
| Price / SF | $110.99 / SF | Individually For Sale | 0 |
| Cap Rate | 6.10% | Total Building Size | 42,570 SF |
| Sale Type | Investment | Total Land Area | 0.52 AC |
| Status | Active |
| Price | $4,725,000 |
| Price / SF | $110.99 / SF |
| Cap Rate | 6.10% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 42,570 SF |
| Total Land Area | 0.52 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 431 Winchester Ave, Glendale, CA 91201 | Multifamily | 15,902 SF | 1926 | - |
| 1640 Lake St, Glendale, CA 91201 | Multifamily | 15,902 SF | 1926 | - |
| 1638 Lake St, Glendale, CA 91201 | Multifamily | 10,766 SF | 1926 | - |
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1638-1640 LAKE ST & 431 WINCHESTER AVE
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