1227-1229 S Central Ave - Apartments FOR SALE
Glendale, CA 91204 |
$10,400,000 USD
818-502-6744
1227-1229 S Central Ave
Glendale, CA 91204
HIGHLIGHTS
- The Property is also conveniently located 1.7 miles from Downtown Glendale – a short 3 minutes by car and 5 minutes by bike.
- Adjacent to Burbank to the north and Pasadena to the east, Glendale is located 10 miles north of DTLA. It is the 4th largest city in California
- Located in Glendale’s Tropico neighborhood, Walk Score® named the Property a walker’s paradise. It scored near perfect Walk Score® of 91 out of 100
- The Property is a few blocks away from the Americana & Glendale Galleria Malls & public transit. It's steps away from Von’s grocery store.
OVERVIEW
Owner Motivated to Sell
THE SUBJECT PROPERTY IS A CHARMING 45-UNIT GARDEN APARTMENT BUILDING BUILT IN 1927 THAT COMBINES OLD WORLD CHARM IN A SOPHISTICATED SUBURBAN/URBAN SETTING.
Reflecting pride of ownership, the two-story brick building consists of three (3) studios and forty-two (42) 1 bd/1 ba apartments homes and offers onsite laundry, secure controlled access, a spacious courtyard and pool, laminate flooring, and microwave ovens.
The Property has been family-owned and managed for over fifty (50) years. The plumbing system has been upgraded over the years.
FOR SALE DETAILS
PRICE
$10,400,000 USD
PRICE/SF
$337 USD /SF
# OF UNITS
45
PRICE/UNIT
$231,111
CAP RATE
Request Cap Rate
% LEASED
97%
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
6% Cap Rate on SoCal Multi-Family Property
PROPERTY TYPE
Multi-Family
APARTMENT STYLE
Low-Rise
PROPERTY SUBTYPE
Apartments
TOTAL BUILDING SIZE
-
STORIES
2
YEAR BUILT
1927
PARKING SPACES
16
LAND DETAILS
LAND ACRES
0.65 AC
LAND SF
28,157 SF
ZONING
C3
APN/PARCEL ID
5640-006-006
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818-502-6744
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818-502-6744
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