650 W Dryden St - Apartments FOR SALE


Glendale, CA 91202- Glenwood
$2,200,000 USD
818-441-1871
650 W Dryden St, Glendale, CA for Sale
$2,200,000 USD
Apartments - FOR SALE
1/8
null | 3.73% Cap Rate

650 W Dryden St
Glendale, CA 91202
Glenwood


HIGHLIGHTS

  • Walkable to Toll Middle School and Hoover High School
  • Value Add by converting 350 SF Laundry room to ADU
  • PRIME LOCATION!

OVERVIEW

Welcome to 650 W. Dryden Street in Glendale—an exceptional investment opportunity! This five-unit multifamily property offers a perfect blend of comfort and convenience, generating an annual gross income of $118,200, with minimal expenses. Located above Glenoaks Boulevard in one of Glendale’s most sought-after neighborhoods, it’s just minutes from Toll Middle School, Hoover High School, and Pelanconi Park. This property features spacious units with an ideal unit mix, designed to appeal to a variety of tenants, making it a highly desirable rental option. The unit mix includes (1) 3 bed 2 baths that's 1,540 SF, (2) 2 beds & 2 baths, and (2) 1 bed & 1 bath. Both 1 bed / 1 bath units are under Section 8 with their last rent increase as of Oct. 1, 2024. The other 3 units are on a month to month agreement. The extra large 350 SF laundry room can potentially be converted to an ADU, as there’s another small storage room on-site to move the laundry into with some easy changes. The property has been well-maintained with a roof replaced 8 years ago, copper plumbing, and separate gas and electricity meters, keeping costs low for the owner. It also offers five parking spaces, a large common area laundry, and a spacious storage room for added income potential. With three tenants on month-to-month leases, the future owner has the opportunity to increase rents by up to 7% in Glendale by transitioning them into new 12-month agreements. Located in a prime area with nearby schools, parks, and walkable amenities, 650 W. Dryden Street is a prime investment opportunity for those looking to maximize returns and ensure long-term growth. Tenants love the proximity to popular local spots like Moto Sushi, Starbucks, Paris Baguette, Mission Wine and Spirits, and Big Square Market, ensuring high demand year-round. Don’t miss out on this rare opportunity! Do not walk on property. Subject to interior inspection.

FOR SALE DETAILS

PRICE

$2,200,000 USD

PRICE/SF

$253 USD /SF

# OF UNITS

5

PRICE/UNIT

$440,000

CAP RATE

3.73%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1964

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,499 SF

ZONING

GLR4YY

APN/PARCEL ID

5635-008-022

ASK ABOUT THIS PROPERTY

Sean BaroniNextHome Luxe GroupMore Info
818-441-1871

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Sean BaroniNextHome Luxe GroupMore Info
818-441-1871

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