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Listed by Thomas Freedman • Sunset Lending and Realty
$2,750,000
Est. payment /mo
6,580 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 6,580 sqft
Price per Sqft $417
MLS Listing ID CRSR25249639
HOA Y/N No
Year Built 1962
Lot Size 9,486 Sqft
Property Sub-Type Other
Source Datashare California Regional
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 vacant-ideal 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 demand-making it an excellent addition to any investor's portfolio. Current cap rate is 5.06%, with a projected 5.85% cap rate once the vacant unit is leased-an outstanding return for the Glendale market.
Location
State CA
County Los Angeles
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Flooring Laminate, Carpet
Fireplace No
Laundry Common Area
Exterior
View Hills, Mountain(s), Valley, Trees/Woods, Other
Building
Lot Description Other
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