1055 Grover Avenue
Glendale, CA 91201
$1,000,000.00 (+55.56%)
Active for $2,799,999
Beds: N/A Baths: N/A Structure Size: N/A sqft Lot Size: 7,741 sqft
| MLS | GD24186109 |
| Year Built | 1962 |
| Property Type | Apartment |
| County | Los Angeles |
| Status | Active |
| Active | $2,799,999 |
| Structure Size | N/A sqft |
| Lot Size | 7,741 sqft |
| Beds | N/A |
| Baths | N/A |
Description
Unique and Prime investment opportunity 10 units in desirable Glendale Glenoaks area. Pride of ownership, Owns for about 50 years. Due to this long term ownership relationship with great tenants, the current rents have remained very low, leaving about 80% upside in rents Current rents are significantly below market, for 10 units totaling about $165,000 a year. One 3 bed 2 bath, Two 2 bed 1 bath, Five 1 bed 1 bath, Two single. The rents in the area for a 3 bedroom unit can be over $3,500, for 2 bed $2800 and 1 bed $2100 a month. Some TLC on this property current rents can potentially go up about $267,000 a year. The property is centrally located for commutes, supermarkets, restaurants and schools . Driving distance downtown Los Angeles, Burbank, Montrose, Americana and Glendale Galleria, NOHO district, Old Town Pasadena, and the Rose Parade, JPL. Local LA and Hollywood attractions include the Music Center, Disney Music Hall, and Hollywood Bowl. This 10 units is truly one of a kind and great investment. Per seller, inside 6 units are updated, Has copper plumbing, newer water heater, walk way, all wall heaters and wall A/C’s, about 13 parking, Everything in this area sells quickly, priced right and will not last long in this market.
Listing information courtesy of: Vartan Markarian, Markarian Realty . *Based on information from the Association of REALTORS/Multiple Listing as of 11/22/2024 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Location
Contact a Local Realtor®
Lena Salameh
REALTOR®
Direct: 818.219.8287
Email: Email Me
DRE: 01855761
DRE #01873088
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