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$ 12,500,000
Est. payment | /mo
54 Beds
50 Baths
27,165 SqFt
$ 12,500,000
Est. payment | /mo
54 Beds
50 Baths
27,165 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 27,165 sqft
Price per Sqft $460
MLS Listing ID 25533699
Bedrooms 54
HOA Y/N No
Year Built 1986
Lot Size 0.604 Acres
Property Description
We are pleased to present 1160 Elm Avenue, a thirty-four-unit multifamily investment opportunity located in the Grandview neighborhood of Glendale. This value-add opportunity will be delivered with seven vacant units that will allow the next investor to captured significant rental upside through the implementation of an interior and exterior renovation program. Constructed in 1986, the asset comprises sixteen two-bedroom/one-and-half-bathroom units, four two-bedroom/one-bathroom units, and fourteen one-bedroom/one-bathroom units spread across four structures. All units have separate meters for gas and electricity, individual water heaters, and 60 AMPs of power. The property has gated entry, an on-site laundry room with two washers and two dryers, 56 parking spaces, and a vacant recreation room that is used as storage but can potentially be converted into an ADU. The property sits on a 26,325 square foot lot and is zoned R2250, making the existing thirty-four units irreplaceable with the current zoning. Situated just north of Glenoaks Blvd and east of Alameda Ave, 1160 Elm is within 2 miles of Burbank's Media City Center and less than 1 mile from IKEA. Glenoaks Blvd is a major thoroughfare that runs through Glendale, Burbank, Sun Valley, and into northeast San Fernando Valley. Tenants can benefit from a variety of retail and places of business along this corridor. Commuters are within five minutes from the nearest on-ramp to the I-5 Freeway, offering ease of access to the 134 Freeway, Burbank, Los Feliz, Atwater and Downtown Los Angeles.
Location
State CA
County Los Angeles
Area 626 - Glendale-Northwest
Zoning GLR4*
Interior
Heating Wall Furnace
Fireplace No
Appliance Disposal
Laundry Laundry Room
Exterior
Parking Features Covered
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5621034029
Special Listing Condition Standard
Listed by Sevak Keshishian • Marcus & Millichap
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