1404 5th St
Glendale, CA 91201 Active for $3,920,000
Beds: 14 Baths: 14 Structure Size: 8,420 sqft Lot Size: 19,172 sqft
|Structure Size||8,420 sqft|
|Lot Size||19,172 sqft|
Amazing opportunity to own a gem in the heart of Glendale “above Glenoaks” right next to newly constructed senior center with a park in the middle. In addition, the building is walking distance to blue ribbon Thomas Jefferson Elementary & bus stops. This building was constructed in 1959 & consists of (14) 1+1 bungalow style spacious units with ample parking, i.e. either carport or surface parking, for all residents. This asset has 12,278SQFT of improvement over a 19,172SQFT lot & there are 14 carport & 3 surface parking on the premises. Majority of the units have been remodeled with hardwood flooring, newer kitchen cabinets & countertops, ceramic wall & floor tiles in bathroom & kitchen, wall type heating & air conditioning. A few units have been improved with washer/dryer hookups inside the units. The property has a historically high occupancy rate due to its proximity to the great public schools, ideal for families seeking affordable 1-bedroom apartments near great schools. The windows have been replaced in the recent past & the plumbing & electrical are in great operational shape. The new owner can take over & achieve an above market return gradually as units turn in due time & as such will “not” be affected by the pending city Rent control discussion.
Listing information courtesy of: George Yessaie, JohnHart Real Estate *Based on information from the Association of REALTORS/Multiple Listing as of 04/22/2019 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.