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Diego Magdaleno

1Vision Real Estate

diego@1visionproperties.com +1(714) 376-8652

$3,850,000

Est. payment - /mo

10,140 Sqft Lot

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UPDATED:

02/04/2025 01:30 PM

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID SR24080276

HOA Y/N No

Year Built 1927

Lot Size 10,140 Sqft

Property Sub-Type Apartment

Property Description

The offering represents the highest in-place-yielding apartments for sale currently in the city of Glendale*

Owned and operated by the same family for over 2 decades, they have exerted extensive capital improvements throughout their tenure. The property consists of 2 story 1+1+Dens that are all functioning as as 2+1. All units have individual washer & dryer hookups and water heaters. Electrical is updated and the property is individually metered for gas & electricity.

With an average in-place rent of $2,285, there is a significant loss to lease (11%+) Additionally, the incorporating of potential (2) 1+1 ADUs in th parking lot, can take a new buyer's pro forma yield to 7.5%*

Casa De Mariposa with a WalkScore of 91! is situated less than 1 mile to Americana at Brand and all of the robust shopping dining &
entertainment along downtown Glendale. (*) buyer to verify.

For the offering memorandum or any questions, call Greg Alexanian.

Location

State CA

County Los Angeles

Area 628 - Glendale-South Of 134 Fwy

Zoning GLR4YY

Interior

Fireplace No

Laundry Washer Hookup, Gas Dryer Hookup

Exterior

Pool None

Community Features Biking

Private Pool No

Building

Lot Description 6-10 Units/Acre

Story 2

Entry Level Two

Sewer Private Sewer

Water Private

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5675026012

Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange

Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange

Special Listing Condition Standard

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Listed by Levon Alexanian • Keller Williams World Media Center • info@alexanianadvisors.com

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827 Mariposa ST Glendale, CA 91205