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1055 Grover Avenue

Glendale, CA 91201

PRICE INCREASE

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+$1,000,000 (+55.56%)

$2,799,999

List Price

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1962

calendar_month Built

Property Description

Unique and Prime investment opportunity 10 units in desirable Glendale Glenoaks area. Pride of ownership, Owns for about 50 years. Due to this long term ownership relationship with great tenants, the current rents have remained very low, leaving about 80% upside in rents Current rents are significantly below market, for 10 units totaling about $165,000 a year. One 3 bed 2 bath, Two 2 bed 1 bath, Five 1 bed 1 bath, Two single. The rents in the area for a 3 bedroom unit can be over $3,500, for 2 bed $2800 and 1 bed $2100 a month. Some TLC on this property current rents can potentially go up about $267,000 a year. The property is centrally located for commutes, supermarkets, restaurants and schools . Driving distance downtown Los Angeles, Burbank, Montrose, Americana and Glendale Galleria, NOHO district, Old Town Pasadena, and the Rose Parade, JPL. Local LA and Hollywood attractions include the Music Center, Disney Music Hall, and Hollywood Bowl. This 10 units is truly one of a kind and great investment. Per seller, inside 6 units are updated, Has copper plumbing, newer water heater, walk way, all wall heaters and wall A/C’s, about 13 parking, Everything in this area sells quickly, priced right and will not last long in this market.

Listing Information

List Price $2,799,999
Status Active
MLS GD24186109
HOA $0
Type Residential Income
Subtype Apartment
Year Built 1962
Lot Size 7,741
Structure Size N/A
Courtesy Of Markarian Realty
Listing Agent Vartan Markarian DRE#01059771

Interior Features

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Features See Remarks
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Cooling Type Wall/Window Unit(s)

Exterior Information

Maps

home_work Nearby Properties

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$3,000/month

king_bed 2
shower 1
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1054 Grover Avenue,

Glendale, CA 91201
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$165,000

king_bed N/A
shower N/A
straighten N/A
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1427 W Glenoaks Boulevard,

Glendale, CA 91201
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$2,675/month

king_bed 1
shower 1
straighten 623
straighten 7,653
1017 Sonora Avenue, #A,

Glendale, CA 91201
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$1,465,000

king_bed 3
shower 2
straighten 1,429
straighten 7,645
1041 Ruberta Ave,

Glendale, CA 91201
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$680,000

king_bed 2
shower 2
straighten 1,291
straighten 47,108
1344 5Th Street, #17,

Glendale, CA 91201

Listing information courtesy of: Vartan Markarian, Markarian Realty . *Based on information from the Association of REALTORS/Multiple Listing as of Sep 30th, 2024 at 6:23 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.