1160 Elm Avenue, Glendale, CA 91201

$12,500,000 Approx. USD 54 beds, 50 baths
27,165 sqft

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Brochure

Photo of Jimmy Harmantzis

Marketed By Jimmy Harmantzis REALTOR® - Broker Associate 949-212-2023 m
949-212-2023 o
Lic#: 01234982
NRDS ID: 641526390
JimmyHarmantzis@bhhscal.com Mission Viejo Office
23120 Alicia Parkway, Suite 100
Mission Viejo, CA 92692
Phone: 949-768-1000
Fax: 949-587-0915

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Agent Remarks

We are pleased to present 1160 Elm Avenue, a thirty-four-unit multifamily investment opportunity located in the Grandview neighborhood of Glendale. This value-add opportunity will be delivered with seven vacant units that will allow the next investor to captured significant rental upside through the implementation of an interior and exterior renovation program. Constructed in 1986, the asset comprises sixteen two-bedroom/one-and-half-bathroom units, four two-bedroom/one-bathroom units, and fourteen one-bedroom/one-bathroom units spread across four structures. All units have separate meters for gas and electricity, individual water heaters, and 60 AMPs of power. The property has gated entry, an on-site laundry room with two washers and two dryers, 56 parking spaces, and a vacant recreation room that is used as storage but can potentially be converted into an ADU. The property sits on a 26,325 square foot lot and is zoned R2250, making the existing thirty-four units irreplaceable with the current zoning. Situated just north of Glenoaks Blvd and east of Alameda Ave, 1160 Elm is within 2 miles of Burbank's Media City Center and less than 1 mile from IKEA. Glenoaks Blvd is a major thoroughfare that runs through Glendale, Burbank, Sun Valley, and into northeast San Fernando Valley. Tenants can benefit from a variety of retail and places of business along this corridor. Commuters are within five minutes from the nearest on-ramp to the I-5 Freeway, offering ease of access to the 134 Freeway, Burbank, Los Feliz, Atwater and Downtown Los Angeles.

Listing Details

Property type: (Multi-Family)

Status: Active

MLS# 25533699

Price: $12,500,000

Beds: 54

Baths: 50

Built in 1986

27,165 sqft

2 stories

0.60 acres

Lot size: 0.6045