BRC Advisors, as the exclusive listing agency, is pleased to present for sale The Saint George Apartments, a 16 unit apartment complex located in the non-rent controlled City of Glendale, California. The offering provides an investor a tremendous opportunity to acquire a very well- maintained asset with approximately 25% in immediate rental upside, achievable through building/individual unit upgrades and structured rental increases. The property is being offered free and clear of any debt encumbrances.
The building consists of all 2BR/2BA units, each with their own washer-dryer hook-ups and water heaters. 4 units come with balcony decks and 8 come with large private patios. Some of the units have been recently upgraded with new appliances, carpeting, laminated wood flooring and kitchen/bathroom cabinet re-facing. There are 28 gated subterranean parking spaces. Landlord is responsible for cold water, sewage and trash. Tenant is responsible for hot water, gas and electricity.
The property is located at the SWC of Palm Dr. & N Kenilworth Ave, along a quiet tree-lined street. Centrally located in The Verdugos region of Los Angeles County, Glendale is bordered by many well-established and up-and-coming cities/neighborhoods such as Pasadena, Burbank, La Canada Flintridge, Atwater Village, Glassell Park and Eagle Rock. As the third largest city in Los Angeles County, some of the top recognized employers that Glendale houses are DreamWorks Animation, Walt Disney Imagineering, Nestle USA, IHOP, Applebees, LegalZoom, and Public Storage. The subject property provides tenants with excellent accessibility to the 134 and 5 Freeways, neighborhood amenities and public transportation. The largest IKEA in the US, The Los Angeles Zoo, Glendale Galleria and Rick Caruso’s renown The Americana at Brand can all be found within 3 miles of the site.
