Thank you
Vahik Beglarian
Coldwell Banker Hallmark
818-476-3000
Excellent opportunity to purchase an eight (8) unit apartment building with a significant upside in rental income. 311 E. Maple Street is an 8-unit multifamily property in the desirable southeast area of Glendale, CA. This property provides a tremendous opportunity for an investor to acquire pride in ownership of an asset that has been professionally managed and cared for. As it’s the first time in the market after 39 years of ownership, this is truly an irreplaceable asset to own. The property is a two-story building that was constructed in 1974 and consists of two large 2bed and 1.3/4bath units and six 1bed and 1bath units. Large roomy units (Buyer to verify the square footage if required). It also includes thirteen (13) parking spaces that include a combination of a private two (2) car garage, which is being used by the owner as storage currently, eleven (11) surface carport parking spaces, which are used by the tenants, a large on-site laundry room, and very minimal landscaping. Most tenants are on a month-to-month basis, and units are separately metered for gas and electricity. The property is within a short distance to multiple bus stops located on Glendale Avenue and Brand Boulevard, in addition to nearby retail shops and businesses. It provides tenants with ease of access to larger retail centers located at the Glendale Galleria, the Americana of Glendale, and Atwater Village. Tenants also have easy access and proximity to the 134 and 5 Freeways. Buyers might explore the opportunity to convert the two-car private garage into an ADU, this could be a great opportunity to boost future rental revenue and income stream, raising the overall value of the investment. Buyer to verify with the city for associated ADU conversion requirements. The roof was replaced/refinished in 2018 with TPO compound material and has a 20-year warranty. Newly painted building.
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Water Source : Public
Sewer : Public Sewer
Radiant
Has Heating
Year Built: 1974
Building Area Total: 7,099
None
Common Area
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.2009
Lot Size Source: Assessor
Lot Size Square Feet: 8752
Original List Price: 2,950,000
Listing Contract Date: 2023-12-18
Listing Agreement: Exclusive Right To Sell
Parcel Number: 5641010019
Garage Description: Attached Carport,Assigned,Carport,Door-Multi,Detached Carport,Driveway,Garage
Lease Term: Negotiable
Tenant Pays: Electricity,Gas
Source Listing Status: Active
Source Neighborhood: 628 - Glendale-South of 134 Fwy
Postal Code Plus 4: 2136
Directions: South of Colorado Street, Between Glendale Ave and Brand Blvd.
Zoning: GLR4*
Source Property Type: Residential Income
Area: 628 - Glendale-South of 134 Fwy
Property SubType: Apartment
Property Age: 50
Common Walls: No Common Walls
Property Condition: Updated/Remodeled
Structure Type: Apartment
Year Built Source: Assessor
Entry Level: 1
Entry Location: street,driveway
Levels or Stories: One
Building Total Stories: 1
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
423 E Harvard Street, Glendale, CA,91205 | $1,850,000 | 3 | -- | 1,732 | 5425 Sqft |
1118 E Palmer Avenue #114, Glendale, CA,91205 | $489,000 | 1 | 1 | 620 | 42145 Sqft |
508 S Chevy Chase Drive, Glendale, CA,91205 | $1,700,000 | 5 | 4 | 2,860 | 7527 Sqft |
118 S Kenwood Street #405, Glendale, CA,91205 | $969,000 | 2 | 2 | 1,203 | 15073 Sqft |
1538 E Broadway, Glendale, CA,91205 | $1,200,000 | 2 | 2 | 1,368 | 7485 Sqft |
1534 E Broadway, Glendale, CA,91205 | $1,100,000 | 3 | 1 | 1,066 | 7490 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 |
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ByOwner last updated this listing 05/08/2024 @ 22:01
MLS: GD23226348
LISTED BY: Vahik Beglarian, Coldwell Banker Hallmark
SOURCE: CRMLS
Buyer Agency Compensation: 2.5%
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.