CA > Glendale
Glendale, CA 91204,615 S Columbus AVE
Glendale, CA 91204,615 S Columbus AVE
Glendale, CA 91204,615 S Columbus AVE
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$6,400,000
Est. payment /mo
12 Beds
13 Baths
8,620 SqFt
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UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 8,620 sqft

Price per Sqft $742

MLS Listing ID 25483003

Bedrooms 12

HOA Y/N No

Year Built 1923

Lot Size 0.427 Acres

Property Description

Glendale Court Bungalows, located at 615 S. Columbus Avenue, is a beautifully restored 13-unit California bungalow-style courtyard property, just five blocks from the Glendale Americana. The current owner has invested over $700,000 in capital improvements, including upgrades to electrical systems, plumbing, and exterior features. The property consists of 12 one-bedroom/one-bath units and one studio, all of which have been meticulously renovated to meet the strong tenant demand in the area. A Ratio Utility Billing System (RUBS) has been implemented across all units, boosting operational efficiency and ensuring a sub-30% expense ratio for future ownership. The property also offers eight garages and five surface parking spaces, currently generating income. The garages present a potential opportunity for conversion into three ADUs (Accessory Dwelling Units), which could generate an estimated $34,605 in additional annual rental income. With further investment in ADU construction and adjustments to market rents, a new owner could achieve an impressive return on cost of nearly 270%. ***Assumable financing is available at 5.18%, with 5 years of fixed financing, including 2 years of interest-only payments remaining.***

Location

State CA

County Los Angeles

Area 628 - Glendale-South Of 134 Fwy

Zoning GLR4YY

Interior

Heating Electric

Cooling Electric

Fireplace No

Appliance Dryer, Washer

Exterior

Garage Spaces 8.0

Garage Description 8.0

Total Parking Spaces 13

Building

Story 1

Entry Level One

Level or Stories One

New Construction No

Others

Senior Community No

Tax ID 5696014040

Special Listing Condition Standard

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CRMLS – RECore
Listed by Douglas Steinriede Dover Management Corp.

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