Arto Poladian
Redfin Corporation
877-973-3346
PRICE REDUCED 6-14-2024 - INCREDIBLE PRICE FOR A REAL FIVE UNIT BUILDING. FIX AND SAVE. PRIME GLENDALE ADAMS HILL/ADAMS SQUARE MULTI UNIT FIXER OPPORTUNITY. HUGE UPSIDE POTENTIAL!! FIRST TIME ON THE MARKET IN 20+ YEARS. UNDER MARKET RENTS – TREMENDOUS POSSIBILITIES. ZONED GLR4YY. Five units total PLUS a converted garage studio. Breakdown is as follows: One - 3 bedroom/2 bath front house (NOW VACANT). One - 1 bedroom/1 bath unit (LEASED). THREE separate studio units (TWO ON MONTH TO MONTH and one gutted/vacant), plus a converted garage studio (WILL BE DELIVERED VACANT after COE). One of the studio units is vacant and gutted, and ready to be renovated. NEWLY UPDATED 1 BED/1 BATH UNIT - JUST REDONE (SEE NEW PICS). Lots of room for improvement. THREE total structures on the lot. Please do not disturb tenants or go on property. Front house built in 1912 - middle units built in the 1950's - stand alone unit built in 1960's. DO NOT MISS YOUR CHANCE!! Active rents at this time are approximately $3787 TOTAL per month BUT this does not include newly vacant front house (which will easily double incoming rents), plus detached studio. CASH/HARD MONEY OR STRONG DOWNPAYMENT ONLY AS THIS IS WILL REQUIRE A COMMERCIAL LOAN BECAUSE IT IS 5 UNITS.
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Water Source : Public
Sewer : Public Sewer
Year Built: 1912
Building Area Total: 2,958
None
Common Area
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.1733
Lot Size Source: Assessor
Lot Size Square Feet: 7550
Original List Price: 1,325,000
Listing Contract Date: 2024-05-16
Listing Agreement: Exclusive Right To Sell
Parcel Number: 5676029011
Lease Term: Negotiable
Tenant Pays: Water
Source Listing Status: Active
Source Neighborhood: 628 - Glendale-South of 134 Fwy
Postal Code Plus 4: 5600
Directions: Mariposa between Palmer and Cypress
Zoning: GLR4YY
Source Property Type: Residential Income
Area: 628 - Glendale-South of 134 Fwy
Property SubType: Apartment
Property Age: 112
Common Walls: 2+ Common Walls
Structure Type: Apartment
Year Built Source: Assessor
Entry Level: 1
Entry Location: 1
Property Attached: Yes
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
311 E Maple Street, Glendale, CA,91205 | $2,950,000 | -- | -- | 7,099 | 8752 Sqft |
1118 E Palmer Avenue #109, Glendale, CA,91205 | $499,000 | 1 | 1 | 610 | 42145 Sqft |
508 S Chevy Chase Drive, Glendale, CA,91205 | $1,600,000 | 5 | 4 | 2,860 | 7527 Sqft |
118 S Kenwood Street #405, Glendale, CA,91205 | $969,000 | 2 | 2 | 1,203 | 15073 Sqft |
524 E Acacia Avenue, Glendale, CA,91205 | $3,500,000 | -- | -- | 8,080 | 7970 Sqft |
421 E Acacia Avenue, Glendale, CA,91205 | $2,870,000 | 16 | -- | 6,206 | 10211 Sqft |
404 Lincoln Avenue, Glendale, CA,91205 | $5,995,000 | -- | -- | 13,176 | 11905 Sqft |
327 S Madison Way, Glendale, CA,91205 | $3,650,000 | 16 | -- | 11,305 | 10304 Sqft |
812 Mariposa Street, Glendale, CA,91205 | $1,199,990 | 3 | 2 | 956 | 5283 Sqft |
339 Mission Road, Glendale, CA,91205 | $1,195,000 | 4 | 3 | 1,550 | 5654.09 Sqft |
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ByOwner last updated this listing 06/16/2024 @ 20:36
MLS: BB24099096
LISTED BY: Arto Poladian, Redfin Corporation
SOURCE: CRMLS
Buyer Agency Description: listing agent 1.5%