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The Warburton Team Brokered By EXp

andreww@gowpnow.com +1(626) 630-2141

$3,750,000

Est. payment - /mo

7,971 Sqft Lot

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Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID AR26144903

HOA Y/N No

Year Built 1963

Lot Size 7,971 Sqft

Property Sub-Type Apartment

Property Description

We are is proud to offer ELM APARTMENTS – 1052 Elm Ave, a very well maintained 10-unit apartment investment located in the highly desirable City of Glendale, CA. This prime Value-Add opportunity is perfect for an experienced investor looking to acquire a superbly located apartment property and maximize its income potential. This property has been under the same ownership since 2004. The units are currently leased to mostly long-time tenants on a month-to-month agreement with below market rents. The property is two-story apartment community that was built in 1963. It is situated on a quiet, residential street surrounded by other condominium and townhome communities. It offers a superb unit mix of ALL (10) 2 bed + 1 bath units with a total of 12 parking spaces. Parking is provided by 9 marked parking spaces (8-tuck under and 1 open space) and 3 unmarked spaces in the front and the back. Each spacious unit is separately metered for gas/ electricity and the property has a common laundry area for tenants. The property has been well maintained throughout current ownership and some units have been updated with laminate wood flooring, granite or quartz kitchen countertops, refreshed kitchen cabinets, recessed lighting, smooth ceilings, windows A/C in living room, ceiling fans in bedrooms and tiled bathroom. This asset will be a great addition to any size real estate portfolio! The property is strategically situated near luxurious amenities, dining, and upscale shopping at the Glendale Galleria and Americana at Brand, and just a few miles northeast of Hollywood, known as the “Media Capital of the World” and Burbank, home to Walt Disney and Warner Bros. Studios. It is minutes to the largest Ikea in the world, Burbank Bob Hope Airport, Home Depot, Kaiser Permanente Medical Center, Department of Motor Vehicles, Costco Wholesale, and two major shopping centers. The landmark Burbank Town Center, offers more than 170 retail stores, restaurants, and entertainment venues, including Macy's, Sears, Bed Bath & Beyond, Barnes & Noble, and AMC Theatres where surface lots and garage parking is free. The Burbank Empire Center is one Los Angeles' largest grossing shopping centers, featuring Walmart, Target, Nordstrom Rack, Best Buy, Lowe's, Outback Steakhouse, Olive Garden, and many more.

Location

State CA

County Los Angeles

Area 626 - Glendale-Northwest

Interior

Fireplace No

Laundry Common Area

Exterior

Parking Features Carport, Driveway

Pool None

Community Features Curbs, Suburban, Sidewalks

Private Pool No

Building

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 5624006018

Energy Description 3000.0

Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange

Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange

Special Listing Condition Standard

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Listed by Justin McCardle Growth Investment Group Pasade 310-606-0192, DRE #01895720

NEARBY SCHOOL & BUSINESS

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1052 Elm AVE Glendale, CA 91201