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$1,249,000
Est. payment /mo
7,548 Sqft Lot
UPDATED:
12/06/2024 08:42 PM
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID BB24244859
HOA Y/N No
Year Built 1912
Lot Size 7,548 Sqft
Property Description
GLENDALE - 5 UNITS - FIXER - CASH OR HARD MONEY ONLY. INCREDIBLE OPPORTUNITY, AMAZING PRICE FOR A REAL FIVE UNIT BUILDING. FIX AND SAVE. PRIME GLENDALE ADAMS HILL/ADAMS SQUARE MULTI UNIT FIXER. HUGE UPSIDE POTENTIAL!! FIRST TIME ON THE MARKET IN 25+ YEARS. UNDER MARKET RENTS – TREMENDOUS POSSIBILITIES. ZONED GLR4YY. Five units total PLUS a converted garage studio. Breakdown is as follows: One - 3 bedroom/2 bath front house (VACANT). One - 1 bedroom/1 bath unit (LEASED). THREE separate studio units (TWO ON MONTH TO MONTH and one gutted/vacant), plus a converted garage studio (WILL BE DELIVERED VACANT after COE). One of the studio units is vacant and gutted, and ready to be renovated. NEWLY UPDATED 1 BED/1 BATH UNIT - JUST REDONE (SEE NEW PICS). Lots of room for improvement. THREE total structures on the lot. Please do not disturb tenants or go on property. Front house built in 1912 - middle units built in the 1950's with a BRAND NEW ROOF INSTALLED ON BUILDING 2 - with the stand alone unit built in 1960's. DO NOT MISS YOUR CHANCE!! Active rents at this time are approximately $3787 TOTAL per month BUT this does not include newly vacant front house (which will easily double incoming rents), plus detached studio. CASH/HARD MONEY OR VERY STRONG DOWNPAYMENT ONLY AS THIS IS WILL REQUIRE A COMMERCIAL LOAN BECAUSE IT IS 5 UNITS.
Location
State CA
County Los Angeles
Area 628 - Glendale-South Of 134 Fwy
Zoning GLR4YY
Interior
Fireplace No
Laundry Common Area
Exterior
Pool None
Community Features Sidewalks
Private Pool No
Building
Lot Description Street Level
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 5676029011
Acceptable Financing Cash to New Loan
Listing Terms Cash to New Loan
Special Listing Condition Standard, Trust
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Listed by Arto Poladian • Redfin Corporation
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Adrian Castillo
Principal/Realtor | CA DRE#01308935
Principal/Realtor CA DRE#01308935