Thank you
Levon Alexanian
Keller Williams World Media Center
818-239-3500
$900,000 price reduction! Only $368K per door. 13.9 GRM 5.1% cap going in. We are pleased to be retained for this exclusive marketing assignment of the Elm Terraces in Glendale. This 34+1 n.c. unit apartment community is located in the most-sought rental pocket in all of the city, north of Glenoaks Blvd known as "El Miradero" / Grandview. The demand for rental housing in this pocket provides for historically low levels of vacancy and in turn premium in rental levels. The asset has been within the same family ownership for over 3 decades and presents an opportunity to unlock lock value by either loss to lease capture or a mild modernization update. Comprising mostly of 2+1.5 townhouse units, the Elm Terraces built in 1986, offers several key tenant amenities including individual hot water heaters, controlled intercom, and gated parking, ample parking, and storage. The walkability to a plethora of local shops, services, and cafes is a major benefit of living at the Elm Terraces.
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Water Source : Private
Sewer : Public Sewer
Year Built: 1986
Building Area Total: 27,165
None
Common Area
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.6045
Lot Size Source: Assessor
Lot Size Square Feet: 26333
Original List Price: 12,900,000
Listing Contract Date: 2024-01-29
Listing Agreement: Exclusive Right To Sell
Parcel Number: 5621034029
Lease Term: Negotiable
Source Listing Status: Active
Source Neighborhood: 626 - Glendale-Northwest
Postal Code Plus 4: 1385
Directions: North of Glenoaks, 2 blocks east of Alameda
Zoning: GLR4*
Source Property Type: Residential Income
Area: 626 - Glendale-Northwest
Property SubType: Apartment
Property Age: 38
Common Walls: 1 Common Wall
Structure Type: Apartment
Year Built Source: Assessor
Entry Level: 2
Entry Location: .
Property Attached: Yes
Levels or Stories: Two
Building Total Stories: 2
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
Thompson Avenue, Glendale, CA,91201 | $96,000 | -- | -- | -- | 44707 Sqft |
329 Thompson Avenue, Glendale, CA,91201 | $3,500,000 | 7 | -- | 5,789 | 8313 Sqft |
1134 Elm Avenue, Glendale, CA,91201 | $8,250,000 | 34 | -- | 16,738 | 13313 Sqft |
1119 Winchester Avenue, Glendale, CA,91201 | $3,999,500 | -- | -- | 6,952 | 7208 Sqft |
1344 5th Street #8, Glendale, CA,91201 | $700,000 | 2 | 2 | 1,291 | 47108 Sqft |
1055 Grover Avenue, Glendale, CA,91201 | $3,000,000 | -- | -- | 7,211 | 7741 Sqft |
1421 5th Street #3, Glendale, CA,91201 | $649,000 | 2 | 2 | 924 | 12526 Sqft |
427 Thompson Avenue #2, Glendale, CA,91201 | $899,000 | 3 | 3 | 1,433 | 16933 Sqft |
1164 Justin Avenue #1, Glendale, CA,91201 | $799,000 | 3 | 2 | 1,972 | 8791 Sqft |
1063 Justin Avenue, Glendale, CA,91201 | $5,720,000 | -- | -- | -- | 7327 Sqft |
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ByOwner last updated this listing 05/19/2024 @ 00:28
MLS: SR24017647
LISTED BY: Levon Alexanian, Keller Williams World Media Center
SOURCE: CRMLS
Buyer Agency Compensation: 1%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.