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$7,000,000

Est. payment - /mo

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20 Beds

21 Baths

11,058 SqFt

New

1042 Western AVE Glendale, CA 91201

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Nathan King Real Estate Group

info@kingrealestate.group +1(559) 396-0000

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Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 11,058 sqft

Price per Sqft $633

MLS Listing ID 26873639

Bedrooms 20

Construction Status Updated/Remodeled

HOA Y/N No

Year Built 1963

Lot Size 10,362 Sqft

Property Description

1042 Western Avenue, a well-maintained, 17-unit multifamily community located in a highly walkable Glendale neighborhood. Built in 1963, the property contains approximately 11,058 square feet of building area and features a favorable unit mix consisting of two studio apartments, ten one-bedroom/one-bathroom units, one two-bedroom/one-bathroom unit and four two-bedroom/two-bathroom units. The unit count includes one permitted accessory dwelling unit. Ownership has recently remodeled 15 of the property's 17 units, providing an investor with the opportunity to acquire a substantially renovated apartment community with limited near-term interior capital requirements. The remodeled units feature new flooring and appliances, quartz countertops and updated HVAC systems. The units also offer large closets and generous interior storage, providing residents with comfortable and functional living spaces. On-site amenities include a swimming pool and laundry facilities. The property also contains seven large storage units, which may be rented separately to generate additional income. Subject to an investor's independent investigation and applicable governmental approvals, the storage area may also present the potential for conversion into an additional accessory dwelling unit. The property is located just a short drive from Downtown Burbank, providing residents with convenient access to its extensive collection of restaurants, shopping, entertainment venues, major employers and media-industry employment centers. The property's strategic location between Glendale and Burbank, along with its proximity to neighborhood amenities and everyday services, contributes to its continued rental appeal. 1042 Western Avenue presents investors with the opportunity to acquire a substantially renovated Glendale apartment community with approximately 15% upside in rents, that also offers a diversified unit mix, attractive resident amenities and multiple potential avenues for additional income and long-term value creation.

Location

State CA

County Los Angeles

Area 626 - Glendale-Northwest

Zoning GLR4YY

Interior

Heating Wall Furnace

Flooring Laminate

Fireplace No

Appliance Dishwasher, Gas Cooktop, Gas Oven, Refrigerator, Vented Exhaust Fan

Laundry Laundry Room

Exterior

Parking Features Covered

Pool In Ground

Total Parking Spaces 16

Building

Faces West

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Construction Status Updated/Remodeled

Others

Senior Community No

Tax ID 5623025001

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)

Listed by David Leibowitz Investment Real Estate Associates #01912487

Nearby School & Business

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Nathan King Real Estate Group

Broker | License ID: 01878277

+1(559) 396-0000

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