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629-631 E Elk Ave
Glendale, CA 91205
$205K Reduction | Built in 1986 & 5.3% CAP · Multifamily Property For Sale
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14 Units
Investment Highlights
- Built in 1986 and extremely well-maintained, the building consists of (8) 2-bdrm. and (6) 1-bdrm. units averaging approx. 750 SF.
- Glendale's pro-landlord jurisdiction allows for annual rental increases of up to 5% + CPI (approx. 8.8%, buyer to verify).
- Approx. 1 mile from The Americana at Brand, Glendale Galleria, and the Fashion Center, blocks from cafes, restaurants, and office hubs on Brand Blvd.
- 10 of the 14 units have been renovated w/ wood-laminate flooring, quartz countertops, updated tilework, stainless-steel appliances, and more.
- Value-add potential lies in adding (2) 2-bdrm ADUs, by converting (3) 30'x10' storage lockers, that are currently in progress.
Property Facts
| No. Units | 14 | Building Size | 10,700 SF |
| Property Type | Multifamily | Average Occupancy | 93% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built | 1986 |
| Building Class | C | Parking Ratio | 1.96/1,000 SF |
| Lot Size | 0.31 AC | ||
| Zoning | R4, Glendale - Residential | ||
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.31 AC |
| Building Size | 10,700 SF |
| Average Occupancy | 93% |
| No. Stories | 3 |
| Year Built | 1986 |
| Parking Ratio | 1.96/1,000 SF |
| Zoning | R4, Glendale - Residential |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Refrigerator
- Sprinkler System
- Stainless Steel Appliances
- Range
- Tub/Shower
- Smoke Free
- Vinyl Flooring
Site Amenities
- Controlled Access
- Laundry Facilities
- Tenant Controlled HVAC
- Smoke Free
- Storage Space
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 8 | $2,273 | - |
| 1+1 | 6 | $2,120 | - |
Property Taxes
| Parcel Number | 5674-025-037 | Improvements Assessment | $2,622,921 |
| Land Assessment | $1,740,876 | Total Assessment | $4,363,797 |
Property Taxes
Parcel Number
5674-025-037
Land Assessment
$1,740,876
Improvements Assessment
$2,622,921
Total Assessment
$4,363,797
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