120 S Belmont St - Apartments FOR SALE


Glendale, CA 91205- Citrus Grove
$2,950,000 USD
310-940-8749
120 S Belmont St, Glendale, CA for Sale
$2,950,000 USD
Apartments - FOR SALE
1/15
null | 5.37% Cap Rate

120 S Belmont St
Glendale, CA 91205
Citrus Grove


HIGHLIGHTS

  • 8-unit complex located just over a mile from The Americana, Glendale Galleria, and the downtown office and retail corridor along Brand Blvd.
  • allows for annual rental increases of up to 8.9% versus 4% for properties subject to LA rent control.
  • Offered at 12.47 GRM and 5.47% CAP on current rents, $376 per foot, and $368,750 per unit.
  • Majority of the units are large 2-bdrm. units averaging approx. 1,000 SF, featuring spacious layouts, oversized windows, and excellent natural light.
  • Property amenities includes gated access, 8 carport parking spaces with storage locks, and minimal landscaping for low operational overhead.

OVERVIEW

120 S. Belmont St. checks all the boxes for investors looking for a well-maintained asset in a highly desirable rental pocket of Glendale. The property is located 1.1 miles from The Americana, Glendale Galleria, Glendale Fashion Center, & an array of dining and entertainment options in downtown Glendale (Brand Blvd). This location offers tenants walkable access to luxury retail, dining, and top-tier employers (ranging from high-powered law firms to media and healthcare companies). Offered at 5.37% CAP and 12.47 GRM on current rents, $376 per foot, and $368 per unit, the property. In addition, Glendale's pro-landlord jurisdiction allows for annual rental increases of up to 5% + CPI (currently 8.9%), versus 4% for properties subject to LA rent control (buyer to verify). Most units are large 2-bdrm. units averaging approx. 1,000 SF, featuring spacious layouts, oversized windows, and excellent natural light. The building has been well cared for and includes gated access, 8 carport parking spaces with storage lockers, and minimal landscaping for low operational overhead. With solid existing income, potential for light cosmetic improvements, and a tenant base supported by nearby law, finance, and entertainment employment hubs, 120 S. Belmont is an ideal asset for investors seeking reliable growth in one of LA’s most resilient submarkets.

FOR SALE DETAILS

PRICE

$2,950,000 USD

PRICE/SF

$376 USD /SF

# OF UNITS

8

PRICE/UNIT

$368,750

CAP RATE

5.37%

% LEASED

88%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

12.47 GRM & 5.37% CAP by The Americana

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1962

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,498 SF

ZONING

R4

APN/PARCEL ID

5674-011-019

ASK ABOUT THIS PROPERTY

Kenny StevensCompassMore Info
310-940-8749

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Kenny StevensCompassMore Info
310-940-8749

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.