1055 Grover Avenue, Glendale, CA 91201
  • MLS#: GD24186109 ( Apartment )
  • Street Address: 1055 Grover Avenue
  • Viewed: 1
  • Price: $2,799,999
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1962
  • Bldg sqft: 0
  • Days On Market: 68
  • Additional Information
  • County: LOS ANGELES
  • City: Glendale
  • Zipcode: 91201
  • Provided by: Markarian Realty
  • Contact: Vartan Vartan
  • California Regional MLS IDX
  • DMCA Notice
  • 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/Cs, about 13 parking, Everything in this area sells quickly, priced right and will not last long in this market.
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Features
Association Fee
  1. 0.00
Building Area Total
  1. 7211.00
Commoninterest
  1. Community Apartment
Common Walls
  1. 1 Common Wall
Cooling
  1. Wall/Window Unit(s)
Country
  1. US
Days On Market
  1. 28
Electric
  1. Standard
Electric Expense
  1. 0.00
Entry Location
  1. Ground level
Fireplace Features
  1. See Remarks
Fuel Expense
  1. 3120.00
Garage Spaces
  1. 13.00
Heating
  1. Wall Furnace
Insurance Expense
  1. 3000.00
Laundry Features
  1. Community
Laundry Income
  1. 720.00
Lockboxtype
  1. None
Lot Features
  1. Yard
Netoperatingincome
  1. 123750.00
Number Of Separate Electric Meters
  1. 11
Number Of Separate Gas Meters
  1. 11
Parcel Number
  1. 5623031015
Pool Features
  1. None
Postalcodeplus4
  1. 2447
Professionalmanagementexpense
  1. 0.00
Property Type
  1. Apartment
Roof
  1. Flat
Sewer
  1. Public Sewer
Sourcesystemid
  1. CRM
Sourcesystemkey
  1. 422680889:CRM
Tenant Pays
  1. Electricity
  2. Gas
Totalactualrent
  1. 151370.00
Totalexpenses
  1. 11880.00
Trash Expense
  1. 3960.00
Water Sewer Expense
  1. 1800.00
Water Source
  1. Public
Year Built
  1. 1962
Year Built Source
  1. Assessor
Zoning
  1. GLR4YY