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447 W Elk Ave 16 Unit Apartment Building $5,550,000 ($346,875/Unit) 4.52% Cap Rate Glendale, CA 91204
Investment Highlights
- 16-unit apartment building with ±12,704 SF, built in 1964, in prime Glendale location.
- Diverse unit mix: (8) 1-bed/1-bath, (4) 2-bed/1.5-bath, (4) 2-bed/2-bath units.
- Walking distance to Glendale Galleria and The Americana at Brand retail centers.
- Offered below recent comparable averages, providing immediate value upside for investors.
- Convenient access to 5 and 134 Freeways, supporting strong commuter demand.
- Stabilized asset with current rents near market, offering immediate income and upside.
Executive Summary
David Harrington
Matthews Real Estate Investment Services, Inc
License # 02168060, 01320460 (CA)
2321 Rosecrans Ave., Suite 1225, El Segundo, CA 90245
(866) 889-0550
Matthews Real Estate Investment Services, Inc
License # 02168060, 01320460 (CA)
2321 Rosecrans Ave., Suite 1225, El Segundo, CA 90245
(866) 889-0550
Property Facts
| Price | $5,550,000 | Building Class | C |
| Price Per Unit | $346,875 | Lot Size | 0.27 AC |
| Sale Type | Investment | Building Size | 12,704 SF |
| Cap Rate | 4.52% | Average Occupancy | 90% |
| No. Units | 16 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1964 |
| Property Subtype | Apartment | Parking Ratio | 1.34/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R4 | ||
| Price | $5,550,000 |
| Price Per Unit | $346,875 |
| Sale Type | Investment |
| Cap Rate | 4.52% |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.27 AC |
| Building Size | 12,704 SF |
| Average Occupancy | 90% |
| No. Stories | 2 |
| Year Built | 1964 |
| Parking Ratio | 1.34/1,000 SF |
| Zoning | R4 |
Amenities
Site Amenities
- Laundry Facilities
1 1
Very walkable
80/100
Very drivable
80/100
Good public transit
60/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 5696-003-026 | Improvements Assessment | $1,716,204 |
| Land Assessment | $2,574,308 | Total Assessment | $4,290,512 |
Property Taxes
Parcel Number
5696-003-026
Land Assessment
$2,574,308
Improvements Assessment
$1,716,204
Total Assessment
$4,290,512
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447 W Elk Ave
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