Graceland Apartments, located at 107 N. Columbus Avenue, is a 13-unit historic American Four Square property situated just one block from the Glendale Americana. The current owner has invested over $1 million in extensive capital improvements, including upgrades to the electrical system, plumbing, and roofing. This property spans two parcels and features a diverse unit mix: (2) 2-bedroom/1-bathroom units, (6) 1-bedroom/1-bathroom units, and (5) studios. With spacious floorplans, most units have been carefully restored to appeal to the area’s robust tenant demand. A RUBS (Ratio Utility Billing System) program has been implemented across all units, enhancing operational efficiency and enabling a sub-30% expense ratio for future ownership. The property includes ten garages that currently generate income and offer the potential to be converted into (3) 2-bedroom/1-bathroom ADUs, each approximately 700 square feet. These ADUs could provide an estimated additional rental income of $34,605 annually. With market rent increases and investment in ADU construction, a new owner could achieve an impressive return on cost of approximately 333%.