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$2,750,000
Est. payment /mo
7 Beds
9,486 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR25249639
Bedrooms 7
Lot Size 9,486 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
Welcome to Santa Barbara Apartments, an exceptional 9-unit multifamily asset located in the heart of Glendale, CA. Offered for the first time on the market, this well-maintained and recently upgraded property presents a rare opportunity for investors seeking strong in-place income with additional upside potential. The building features (4) two-bedroom units and (5) one-bedroom units, with 8 currently occupied and 1 vacantideal for an owner-user or immediate rent growth. Recent improvements include new electric subpanels in every unit, a new main service panel, updated asphalt, fresh exterior paint, upgraded railings, and a new irrigation system, enhancing both performance and curb appeal. Additional amenities include, wall-mounted A/C units, on-site coin-operated laundry, and dedicated parking for 8 of the 9 units. Three apartments have been recently remodeled. Two rent increases are scheduled for December, providing further income growth. Centrally located near major freeways, public transportation, shopping, and dining, this property provides convenience and enduring tenant demandmaking it an excellent addition to any investors portfolio. Current cap rate is 5.06%, with a projected 5.85% cap rate once the vacant unit is leasedan outstanding return for the Glendale market.
Location
State CA
County Los Angeles
Zoning Public Rec
Direction Brand Blvd at W Glenoaks Blvd
Interior
Cooling Wall/Window
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 5636004024
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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Listed by Thomas Freedman Sunset Lending and Realty
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