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$ 3,400,000
Est. payment | /mo
7,749 Sqft Lot
$ 3,400,000
Est. payment | /mo
7,749 Sqft Lot
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID BB25118417
HOA Y/N No
Year Built 1988
Lot Size 7,749 Sqft
Property Sub-Type Apartment
Property Description
Rare Assumable Loan fixed at 3.20% until 2032! Located in one of Glendale's most desirable neighborhoods, this well-maintained 8-unit property presents an outstanding investment opportunity with both immediate income potential and long-term growth. Built in 1988 to modern construction standards, the asset features a highly desirable unit mix—Two: 3 Bed / 2 Bath, Four: 2 Bed / 2 Bath, and Two: 1 Bed / 1 Bath units—designed to attract a broad tenant base and maintain low vacancy rates.
Currently delivering a strong 5.0% CAP rate, the property's performance is significantly enhanced by an assumable $2,050,000 loan at a low 3.20 % fixed interest rate, locked in through June 2032—a rare and valuable advantage in today's high-rate environment. With this financing structure in place, investors can achieve an impressive 7.8% ROI, combining stable cash flow with long-term security.
There's also immediate rental upside, with allowable rent increases this year of approximately $700/month, creating a clear path to boost NOI and overall cash flow. Four units have been recently remodeled with modern finishes, adding to the property's rentability and tenant appeal. All units are equipped with central heating and air conditioning, enhancing comfort and value.
Strategically located in a thriving Glendale rental market, this turnkey property offers the perfect blend of strong in-place income, financing leverage, and value-add potential—ideal for investors looking to secure a high-performing asset in a high-demand area.
Currently delivering a strong 5.0% CAP rate, the property's performance is significantly enhanced by an assumable $2,050,000 loan at a low 3.20 % fixed interest rate, locked in through June 2032—a rare and valuable advantage in today's high-rate environment. With this financing structure in place, investors can achieve an impressive 7.8% ROI, combining stable cash flow with long-term security.
There's also immediate rental upside, with allowable rent increases this year of approximately $700/month, creating a clear path to boost NOI and overall cash flow. Four units have been recently remodeled with modern finishes, adding to the property's rentability and tenant appeal. All units are equipped with central heating and air conditioning, enhancing comfort and value.
Strategically located in a thriving Glendale rental market, this turnkey property offers the perfect blend of strong in-place income, financing leverage, and value-add potential—ideal for investors looking to secure a high-performing asset in a high-demand area.
Location
State CA
County Los Angeles
Area 626 - Glendale-Northwest
Zoning GLR4YY
Interior
Fireplace No
Laundry Common Area
Exterior
Garage Spaces 14.0
Garage Description 14.0
Pool None
Community Features Curbs
Total Parking Spaces 14
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Story 3
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 5624005026
Energy Description 305.0
Acceptable Financing 1031 Exchange
Listing Terms 1031 Exchange
Special Listing Condition Standard
Listed by David Nalbandyan • LA Premier Realty • info@lapremierrealty.com