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609 Corwin Ave 2 Unit Apartment Building Offered at $1,495,000 at a 5.38% Cap Rate Glendale, CA 91206
Investment Highlights
- 2 Attached units PLUS Newer Construction ADU
- Each Unit is separately metered for gas and electric
- Home Provider pays for water, trash, gardening services and insurance
- Total SF appox 2,230 of living space (per the accessor and ADU plan)
- Each Tenant pays for its gas and electric
Executive Summary
Introducing a rare opportunity to acquire a generously updated and meticulously maintained 2-unit PLUS 2022-2023 constructed ADU, perfect for seasoned investors looking to expand their portfolio or new investors eager to enter the real estate market. This property boasts significant curb appeal, with recent updates that enhance both its
aesthetic and functional appeal, ensuring minimal future maintenance and attracting quality tenants. Each unit has well-appointed layouts, featuring modern finishes and
upgrades, making this property a turnkey investment. The stabilized rents provide steady cash flow from day one, offering financial security and predictability for any buyer. Located in a desirable area with strong rental demand, this property is positioned for long-term appreciation making an excellent asset for long term in a family portfolio.
Whether you’re a seasoned investor seeking a reliable addition to your portfolio or a first-time buyer looking for a manageable investment with strong fundamentals, this opportunity checks all the boxes. Don’t miss the chance to secure this income-producing asset!
aesthetic and functional appeal, ensuring minimal future maintenance and attracting quality tenants. Each unit has well-appointed layouts, featuring modern finishes and
upgrades, making this property a turnkey investment. The stabilized rents provide steady cash flow from day one, offering financial security and predictability for any buyer. Located in a desirable area with strong rental demand, this property is positioned for long-term appreciation making an excellent asset for long term in a family portfolio.
Whether you’re a seasoned investor seeking a reliable addition to your portfolio or a first-time buyer looking for a manageable investment with strong fundamentals, this opportunity checks all the boxes. Don’t miss the chance to secure this income-producing asset!
Property Facts
| Price | $1,495,000 | Lot Size | 0.14 AC |
| Price Per Unit | $747,500 | Building Size | 2,230 SF |
| Sale Type | Investment | Average Occupancy | 100% |
| Cap Rate | 5.38% | No. Stories | 1 |
| No. Units | 2 | Year Built | 1925 |
| Property Type | Multifamily | ||
| Zoning | GLR1 - residential | ||
| Price | $1,495,000 |
| Price Per Unit | $747,500 |
| Sale Type | Investment |
| Cap Rate | 5.38% |
| No. Units | 2 |
| Property Type | Multifamily |
| Lot Size | 0.14 AC |
| Building Size | 2,230 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1925 |
| Zoning | GLR1 - residential |
Amenities
Unit Amenities
- Kitchen
Site Amenities
- Courtyard
1 1
Moderately walkable
70/100
Exceptionally drivable
90/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 5665-018-013 | Improvements Assessment | $351,789 |
| Land Assessment | $432,972 | Total Assessment | $784,761 |
Property Taxes
Parcel Number
5665-018-013
Land Assessment
$432,972
Improvements Assessment
$351,789
Total Assessment
$784,761
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609 Corwin Ave
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