Glendale CA Real Estate & Commercial for Sale

Glendale Multi-unit for sale, 16 single story bungalow style units. All fully leased, under market value. Huge upside for the right investor.

Glendale Multi-unit for sale, 16 single story bungalow style units. All fully leased, under market value. Huge upside for the right investor.

Graceland Apartments, located at 107 N. Columbus Avenue, is a 13-unit historic American Four Square asset, located one block from the Glendale Americana. Current ownership has spent over one million dollars on capital improvements, including new electrical system, plumbing, and roofs. Spread across two parcels, Graceland Apartments has a strong unit mix, comprised of (2) 2 BD/1 BA, (6) 1 BD/1 BA, and (5) studios. Boasting spacious floorplans, the majority of the units have been thoughtfully restored to capitalize on the strong tenant base in the area. Current ownership has implemented a RUBS program across all units to improve operational efficiencies, allowing new ownership to operate the asset at a sub 30% expense ratio. Ten existing garages provide current income and also have the potential to be converted into (3) 2 BD/1 BA ADUs (approx. 700 SF each) for additional rental revenue of approximately $34,605 annually. Based on estimates, a new owner can achieve a return on cost of nearly 333%. by raising rents to market and investing into ADU construction.

5,768 square foot, 2 story, office building with on-site parking. Hard to find 2 tenant buildingSeparately metered. Occupy all or 1/2 of building, with income potential. Owner/User of 51% or more may qualify for SBA loan with only 10% down. Refurbished, attractive, free standing building. Good mix of private offices & bullpen area. 2 story walk-up with restrooms & lunchrooms on each floor. Adjacent to restaurants, public transportation, & freeways

5,768 square foot, 2 story, office building with on-site parking.Hard to find 2 tenant buildingSeparately metered.Occupy all or 1/2 of building, with income potential.Owner/User of 51% or more may qualify for SBA loan with only 10% down.Refurbished, attractive, free standing building.Good mix of private offices & bullpen area.2 story walk-up with restrooms & lunchrooms on each floor.Adjacent to restaurants, public transportation, & freeways