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Diego Magdaleno

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

$7,100,000

Est. payment - /mo

10 Beds

13 Baths

7,796 SqFt

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UPDATED:

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 7,796 sqft

Price per Sqft $910

MLS Listing ID 25482897

Bedrooms 10

HOA Y/N No

Year Built 1925

Lot Size 9,452 Sqft

Property Description

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***

Location

State CA

County Los Angeles

Area 628 - Glendale-South Of 134 Fwy

Zoning GLC3*

Interior

Heating Electric

Cooling Electric

Fireplace No

Appliance Dryer, Washer

Exterior

Garage Spaces 10.0

Garage Description 10.0

Attached Garage Yes

Total Parking Spaces 10

Building

Story 2

Entry Level Multi/Split

Level or Stories Multi/Split

New Construction No

Others

Senior Community No

Tax ID 5637015023

Special Listing Condition Standard

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Listed by Douglas Steinriede • Dover Management Corp.

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107 N Columbus AVE Glendale, CA 91203