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Zach Cummins

[email protected] +1(360) 393-0217

$ 2,799,999

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1055 Grover AVE Glendale, CA 91201

7,740 Sqft Lot

UPDATED:

01/31/2025 02:19 AM

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID GD24186109

HOA Y/N No

Year Built 1962

Lot Size 7,740 Sqft

Property Description

Unique and Prime investment opportunity 10 units in desirable Glendale Glenoaks area. Pride of ownership, Owns for about 50 years. Due to this long term ownership relationship with great tenants, the current rents have remained very low, leaving about 80% upside in rents Current rents are significantly below market, for 10 units totaling about $165,000 a year. One 3 bed 2 bath, Two 2 bed 1 bath, Five 1 bed 1 bath, Two single. The rents in the area for a 3 bedroom unit can be over $3,500, for 2 bed $2800 and 1 bed $2100 a month. Some TLC on this property current rents can potentially go up about $267,000 a year. The property is centrally located for commutes, supermarkets, restaurants and schools . Driving distance downtown Los Angeles, Burbank, Montrose, Americana and Glendale Galleria, NOHO district, Old Town Pasadena, and the Rose Parade, JPL. Local LA and Hollywood attractions include the Music Center, Disney Music Hall, and Hollywood Bowl.
This 10 units is truly one of a kind and great investment. Per seller, inside 6 units are updated, Has copper plumbing, newer water heater, walk way, all wall heaters and wall A/C's, about 13 parking, Everything in this area sells quickly, priced right and will not last long in this market.

Location

State CA

County Los Angeles

Area 626 - Glendale-Northwest

Zoning GLR4YY

Interior

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Fireplaces Type See Remarks

Fireplace Yes

Laundry Common Area

Exterior

Garage Spaces 13.0

Garage Description 13.0

Pool None

Community Features Curbs

Roof Type Flat

Total Parking Spaces 13

Private Pool No

Building

Lot Description Yard

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 5623031015

Energy Description 3120.0

Acceptable Financing Cash, Cash to New Loan

Listing Terms Cash, Cash to New Loan

Special Listing Condition Standard

Listed by Vartan Markarian • Markarian Realty • [email protected]

Zach Cummins

Real Estate Advisor | License ID: DRE 02083898

+1(360) 393-0217

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Zach Cummins

1055 Grover AVE Glendale, CA 91201

Key Details

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1055 Grover AVE