107 N Columbus Avenue, Glendale, CA 91203 - Berkshire Hathaway HomeServices California Properties
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107 N Columbus Avenue, Glendale, CA 91203

$7,100,000 Approx. USD 10 beds, 13 baths
7,796 sqft
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Listing Agent


Douglas Steinriede | doug@doverla.com
Lic#: 00284936
Broker: Courtesy of Dover Management Corp.

Agent Remarks

Graceland Apartments, located at 107 N. Columbus Avenue, is a charming 13-unit historic American Four Square building just one block from the Glendale Americana. The current owner has made over $1 million in strategic capital improvements, including upgrades to the electrical system, plumbing, and roofing. Spanning two parcels, the property offers a diverse mix of units: (2) 2-bedroom/1-bathroom, (6) 1-bedroom/1-bathroom, and (5) studios. With spacious floorplans, many units have been meticulously restored to cater to the area's strong tenant demand. A RUBS (Ratio Utility Billing System) program has been implemented across all units, boosting operational efficiency and allowing for a sub-30% expense ratio for future owners. The property also includes ten garages, currently generating rental income with the potential to be converted into three 2-bedroom/1-bathroom ADUs, each around 700 square feet. These ADUs could add approximately $34,605 in annual rental income. By capitalizing on market rent increases and investing in ADU construction, a new owner could see an impressive return on cost of up to 333%. ***Assumable Financing Available***

Listing Details

Property type: (Multi-Family)
Status: Active
MLS# 25482897
Price: $7,100,000
Beds: 10
Baths: 13
Built in 1925
7,796 sqft
0.22 acres
Lot size: 0.2170
County: Los Angeles
Zoning: GLC3*
Appliances: Dryer,Washer
Heating/cooling: Electric
Heating description: Electric
MLS area: 628 - Glendale-South of 134 Fwy

Last Updated: 1/30/2025

 Days On Market (DOM): 111

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This listing belongs to the 628 - Glendale-South of 134 Fwy MLS area

Lat/Long: 34.147277, -118.261609.
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DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or its applicability to your financial situation. Please consult your financial and/or tax advisor. GET PRE-APPROVED The loan's interest rate will depend upon the specific characteristics of the loan transaction and credit profile up to the time of closing.

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