$4,125,000
$9,000,000
54.2%For more information regarding the value of a property, please contact us for a free consultation.
0.84 Acres Lot
SOLD DATE : 12/06/2019
Key Details
Sold Price $4,125,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Not Applicable-105
MLS Listing ID 319000344
Sold Date 12/06/19
Construction Status Updated/Remodeled
HOA Y/N No
Year Built 1949
Lot Size 0.841 Acres
Property Description
Amazing opportunity to own a gem in North Glendale above Glendale Community College. This building was constructed in 1958 and consists of two buildings, i.e. a 17 unit and a 12 unit, on the same lot. There are (12) 2+1, (16) 1+1 and (1) 2+1.5 Townhouse on a 36,600 SQFT lot in a 25,000 Sqft improvement. Each building consists of various fourplexes connected to one another on the roof line, and there are 29 detached garages, no'' soft story. Majority of the units have been remodeled with hardwood flooring, ceramic wall and floor tiles in bathroom and kitchen, wall type heating and air conditioning. Recently, the Electrical service to the building was upgraded with a 1200 amp service facilitating the improving units with central A/C and charges for Electric cars. The building is located right across from blue ribbon Verdugo Woodlands Elementary school highly sought by Glendale parents. It is also walking distance to GCC facilitating possibility of student housing arrangements. The property has a historically high occupancy rate and a new owner can take over and achieve an above market return for the city of Glendale by enhancing use intensity, i.e. student housing; or, improving amenities, i.e. Central A/C, Electric car charges.
Location
State CA
County Los Angeles
Area 627 - Rossmoyne & Verdu Woodlands
Zoning GLR4*
Interior
Interior Features Balcony, Ceiling Fan(s)
Heating Natural Gas, Wall Furnace
Cooling Wall/Window Unit(s)
Flooring Carpet, Laminate, Tile, Wood
Fireplace No
Laundry Common Area
Exterior
Garage Assigned, Covered, Detached Carport, One Space
View Y/N No
Total Parking Spaces 29
Private Pool No
Building
Entry Level Two
Sewer Sewer Tap Paid
Water Public
Level or Stories Two
New Construction No
Construction Status Updated/Remodeled
Others
Tax ID 5652018046
Acceptable Financing Cash, Cash to New Loan, Conventional
Listing Terms Cash, Cash to New Loan, Conventional
Financing Assumed
Special Listing Condition Standard
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Bought with George Yessaie • JohnHart Real Estate
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880 Roosevelt Suite 250, Irvine, California, 92620, United States