Investment Overview

Marcus & Millichap, retained as the exclusive listing agent, is pleased to present a truly unique and rare opportunity to purchase a twenty-five (25) unit apartment building located in prime Glendale, resting in the hills above Glenoaks. Originally constructed in 1969, the property features one building with three floors. The property features large and spacious units with an average size of 1,388 square feet and a unit mix of twenty-one (21) 2 bedroom 2 bathroom units, three (3) 3 bedroom 2 bathroom units, and one (1) 1 bedroom 1 bathroom non-conforming unit. Each unit comes with a storage locker (located in the laundry room), one assigned parking space (select units have 2 spaces, and a private patio/balcony. Landlord pays electrical utility bill for the for the common AC System. Each unit has its own thermostat and coil system. The laundry machines are owned. Seventeen (17) units have been upgraded over the years with laminate/WPC flooring and granite countertops. Common area amenities included secured parking and on-site coin operated laundry facilities, common A/C Tower with Chiller and common boiler. Units are separately metered for electricity, and do not feature gas. The only gas portion of the building is for the boiler. Ownership has spent over $1,000,000 on capital improvements. Property is approved for a 24 unit condominium project (buyer to independently verify). This phenomenal location offers a walk score of 80 out of 100 demonstrating the high walkability of the area. Tenants also have convenient access to the 134, 2, 210 Freeways, and downtown Glendale; home to the Galleria, Americana, and Brand Blvd. Brand has it all for people who live here, work here, and who want to explore here, seven days a week 18-hours a day. Meet Me on Brand is the official marketing effort of the Glendale Economic Development Corporation to promote an 18-Hour Day on Brand Boulevard.