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GLENDALE approved, 43-unit DEVELOPMENT 3 Multifamily Properties Offered at $4,999,000 in Glendale, CA
Investment Highlights
- DRB-approved, modern 43-unit development in the highly sought-after city of Glendale, Southern California.
- LOT SIZE 21,750 SF
- 5637-020-011, 5637-020-012, 5637-020-013
Executive Summary
PRICE REDUCTION APPROVED BY OWNER.....Sam S. Manoukian, CCIM from DPI-Diversified Property Investments, is proud to present an exceptional opportunity: DRB-approved, modern 43-unit development in the highly sought-after city of Glendale, Southern California.
This premier development, located at 424, 430, and 434 Milford St., spans three lots totaling 21,750 square feet (APNs: 5637-020-011, 5637-020-012, 5637-020-013). The existing property includes:
• Two 2-bedroom units at 424 W. Milford
• Two 2-bedroom units at 430 W. Milford
• One 3-bedroom unit at 434 W. Milford
These units currently generate cash flow until you decide to break ground on the new project.
The City of Glendale’s Design Review Board has approved plans for a 43-unit apartment complex, which includes 8 inclusionary (affordable) units and 35 market-rate units. Designed by Alen Malekian, principal of Malekian + Associates, this project showcases the firm’s award-winning modern architectural style.
For additional information, including project plans and further details, please contact the exclusive listing broker.
This premier development, located at 424, 430, and 434 Milford St., spans three lots totaling 21,750 square feet (APNs: 5637-020-011, 5637-020-012, 5637-020-013). The existing property includes:
• Two 2-bedroom units at 424 W. Milford
• Two 2-bedroom units at 430 W. Milford
• One 3-bedroom unit at 434 W. Milford
These units currently generate cash flow until you decide to break ground on the new project.
The City of Glendale’s Design Review Board has approved plans for a 43-unit apartment complex, which includes 8 inclusionary (affordable) units and 35 market-rate units. Designed by Alen Malekian, principal of Malekian + Associates, this project showcases the firm’s award-winning modern architectural style.
For additional information, including project plans and further details, please contact the exclusive listing broker.
Taxes & Operating Expenses (Actual - 2023) |
Annual |
|---|---|
| Gross Rental Income |
$141,250
|
| Other Income |
-
|
| Vacancy Loss |
-
|
| Effective Gross Income |
$141,250
|
| Net Operating Income |
-
|
Taxes & Operating Expenses (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $141,250 |
| Other Income | |
|---|---|
| Annual | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Effective Gross Income | |
|---|---|
| Annual | $141,250 |
| Net Operating Income | |
|---|---|
| Annual | - |
Property Facts
| Price | $4,999,000 | Number of Properties | 3 |
| Price / SF | $932.30 / SF | Individually For Sale | 0 |
| Sale Conditions | Total Building Size | 5,362 SF | |
| Sale Type | Investment | Total Land Area | 0.50 AC |
| Status | Active |
| Price | $4,999,000 |
| Price / SF | $932.30 / SF |
| Sale Conditions | |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 5,362 SF |
| Total Land Area | 0.50 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 424 Milford St, Glendale, CA 91203 | Multifamily | 2,000 SF | 1920 | - |
| 430 Milford St, Glendale, CA 91203 | Multifamily | 2,000 SF | 1920 | - |
| 434 Milford St, Glendale, CA 91203 | Multifamily | 1,362 SF | 1920 | - |
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GLENDALE approved, 43-unit DEVELOPMENT
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