Thank you
Nick Astrupgaard
KW Commercial Studio City
818-432-1500
We are pleased to present 1134 Elm Avenue, a sixteen-unit apartment community in Glendale, California, built in 1987. The offering provides investors with a unique opportunity to purchase a premium asset with strong income metrics in one of the strongest rental markets in Los Angeles along with an attractive assumable loan. Glendale is attractive to prospective owners and renters alike. As it's located in the City of Glendale, 1134 Elm Avenue is impacted by AB 1482, meaning Statewide rent control. Additionally, there is no ULA "Mansion Tax". 1134 Elm Avenue was built in 1987 and boasts sixteen spacious apartment homes. It features an attractive unit composition of two (2) Four-Bedroom | Three-Bathroom units, two (2) Two-Bedroom | Two and a Half-Bathroom Townhome units, ten (10) Two-Bedroom | Two-Bathroom units, and two (2) One-Bedroom | One-Bathroom units. What makes the building and units so attractive are the amenities, precisely: fourteen of the sixteen units feature in-unit washer dryers, central A/C, and at least one balcony. There is a whopping total of 22 balconies or sundecks. In all, 1134 Elm Avenue features 16,738 square feet of improvements on a collective 13,313 square feet of land, zoned GLR4. The property is separately metered for gas and electrical utilities. While all the units stand out in size and design, 1134 Elm Avenue boasts two Four-Bedroom Townhome Units and two 2 Bedroom Townhomes, ideal for families or those working for home. The Four Bedroom units showcase four separate balconies, high ceilings, ensuite bathrooms, and in-unit washer/dryers. The Two Bedroom Townhomes feature private sundecks, perfect for gatherings or taking in mountain and city views, high ceilings, ensuite bathrooms, and in-unit washer/dryers. The property has seen significant updates over the years, and an updated roof in 2019. Six units have received updated kitchens, along with new/modern lighting, flooring, and bathroom updates throughout the property. The property offers enhanced security and convenience for tenants. It's fully gated with automated, subterranean parking. Fourteen of the sixteen units have two parking spaces, and the 1-Bedroom units have one space -- 30 parking spaces in all. As you approach the property from the street, there's a secure, gated entry with an intercom, and an inviting courtyard welcomes you. Tenants benefit from enhanced security with security cameras throughout the property. The location is in the heavily sought-after Glendale sub-market. 1134 Elm Avenue borders the City of Burbank and is immediately adjacent to IKEA and Downtown Burbank. Residents are also located in the highly desirable Glendale Unified School District. The location is near many favorable shopping and dining destinations and boasts a Walk Score of 85, deemed "Very Walkable" by Walkscore.com. Elm Avenue is in close proximity to major studios and just a short drive from neighboring primary employers in Hollywood and Downtown Los Angeles.
Sell a home like this and save $494,501 Find Out How
Total Bedrooms : 34
Total Baths: 34
Full Baths: 0
Half Baths: 0
Central Air
Air Conditioning
Central
Has Heating
Year Built: 1987
Building Area Total: 16,738
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.3056
Lot Size Source: Vendor Enhanced
Lot Size Square Feet: 13313
Original List Price: 8,250,000
Listing Contract Date: 2023-10-10
Listing Agreement: Seller Reserved
Parcel Number: 5621035030
Garage Description: Underground
Lease Term: Negotiable
Source Listing Status: Active
Source Neighborhood: 626 - Glendale-Northwest
Directions: Ideally located in Glendale on Elm Avenue
Zoning: GLR4*
Source Property Type: Residential Income
Area: 626 - Glendale-Northwest
Property Age: 37
Year Built Source: Vendor Enhanced
Total Square Feet Living: 16738
Levels or Stories: Three Or More
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 |
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 |
1160 Elm Avenue, Glendale, CA,91201 | $12,900,000 | -- | -- | 27,165 | 26333 Sqft |
1055 Grover Avenue, Glendale, CA,91201 | $3,000,000 | -- | -- | 7,211 | 7741 Sqft |
1328 Randall Street, Glendale, CA,91201 | $1,449,000 | 3 | 1 | 2,010 | 5913 Sqft |
1421 5th Street #3, Glendale, CA,91201 | $649,000 | 2 | 2 | 924 | 12526 Sqft |
427 Thompson Avenue #2, Glendale, CA,91201 | $849,888 | 3 | 3 | 1,433 | 16933 Sqft |
1164 Justin Avenue #1, Glendale, CA,91201 | $799,000 | 3 | 2 | 1,972 | 8791 Sqft |
Copyright © 2024 by the Multiple Listing Service of the California Regional MLS®. This information is believed to be accurate but is not guaranteed. Subject to verification by all parties. This data is copyrighted and may not be transmitted, retransmitted, copied, framed, repurposed, or altered in any way for any other site, individual and/or purpose without the express written permission of the Multiple Listing Service of the California Regional MLS®. Information Deemed Reliable But Not Guaranteed. Any use of search facilities of data on this site, other than by a consumer looking to purchase real estate, is prohibited.
ByOwner last updated this listing 05/12/2024 @ 13:16
MLS: 23319781
LISTED BY: Nick Astrupgaard, KW Commercial Studio City
SOURCE: CRMLS
Buyer Agency Compensation: 1.5%
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.