Investment Overview

Marcus & Millichap is pleased to present 1623 Victory Blvd, a 20 + 1 unit apartment building located in Glendale, a neighborhood in the San Fernando Valley. Built in 1963, the property consists of (18) one-bedroom + one-bathroom units, (1) one-bedroom + one-and-a-half bathroom units and (2) two-bedroom + two-bathroom units. The building is 13,786 gross square feet and sits on a 11,765 square foot lot. 1623 Victory Blvd is located on a charming, tree-lined street in Glendale. There is no shortage of activities to explore in the area. From shopping at the Burbank Town Center or Glendale Galleria to exploring Griffith Park and Stough Canyon, just a few miles away. Glendale lies at the eastern end of the San Fernando Valley, the location provides convenient access to the 134 and 5 freeways, further extending the area’s connectivity to the rest of Los Angeles. 1623 Victory Blvd represents a unique value-add opportunity for investors due to the property’s location and rental upside. The property offers a initial CAP rate of 4.86% with the ability to improve to a 5.31% CAP rate once units turnover.