Investment Overview

Marcus & Millichap presents 517 Fischer Street, a nine-unit multifamily investment opportunity located in the Somerset neighborhood of East Glendale. This well-maintained asset will provide the next investor with the opportunity to capture approximately 26% in rental upside through an interior renovation program. The property also includes an occupied non-conforming studio unit that can be converted to an ADU as bonus income. Constructed in 1989, the asset comprises eight two-bedroom/two-bathroom units and one three-bedroom/two-bathroom unit spread across 8,756 square feet. All units have separate meters for gas and electricity, individual water heaters, mini-split HVAC units. The property has gated entry, an on-site laundry room, and subterranean parking with 19 parking spaces. The property sits on a 7,497 square foot lot and is zoned R3050, making the existing number of units irreplaceable with the current zoning. Situated just south of Colorado Boulevard and east of Verdugo Road, 427 Lincoln Avenue is less than 2 miles from The Americana on Brand and less than 1 mile from Eagle Rock Plaza. Both Colorado Boulevard and Verdugo Road are major thoroughfares in Glendale where tenants can find a variety of retail, restaurants, and places of business within these corridors. Commuters are within minutes from the nearest on-ramp to the CA-2 and CA-134 Freeways, offering ease of access to the Eagle Rock, Highland Park, Burbank, Los Feliz, Atwater, Downtown Los Angeles, and all of San Gabriel Valley.