Property Details
About this Property
Value Add 5 unit apartment building located in the heart of Glendale in close proximity to the Galleria and Americana. This is a trust sale and the property is being sold in its as-is condition with long term tenants in place and has been priced accordingly. Current rents are approximately 35% of market rents. Drive by only. Do not enter the property or disturb the tenants. Make all offers subject to inspection.The property has significant upside for a buyer with the experience to manage and renovate the property.There are four 2 bedroom 1.5 bath units and one 1 bedroom 1 bath unit. Market rents after renovation are estimated at $2,750/ month each for the 2 bedroom units and $1,750/ month for the one bedroom unit and the stabilized value could be in the range of $2,000,000 which is approximately $400,000/unit and $430/SF using a gross income multiplier of 13. Buyer is advised to conduct their own due diligence with regard to future market rents and value. Buyer should familiarize themselves with State of California AB 1482 and the City of Glendale Rental Rights Program and other laws related to rental increases and relocation assistance. Roll up your sleeves, get to work and create value.
MLS Listing Information
MLS #
CRP1-18302
MLS Source
California Regional MLS
Interior Features
Kitchen
None
Cooling
Window/Wall Unit
Heating
Wall Furnace
Exterior Features
Pool
None
Parking, School, and Other Information
Garage/Parking
Common Parking Area, Parking Area, Garage: 0 Car(s)
HOA Fee
$0
Contact Information
Listing Agent
Donald Hinton
Engel & Voelkers La Canada
License #: 00575959
Phone: (818) 421-9071
Co-Listing Agent
Chuck Lamm
Engel & Voelkers La Canada
License #: 00857151
Phone: (818) 652-2876
Unit Information
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 2 | – | – |
| Unit # | Sq Ft | Beds | Baths | Rent |
|---|---|---|---|---|
| 1 | 600 | – | 0/0 | – |
| 2 | 1,000 | – | 0/0 | – |
Neighborhood: Around This Home
Neighborhood: Local Demographics
350 Vine St is a Residential Income in Glendale, CA 91204. This – square foot property sits on a 6,418 Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at $1,370,000 and was built in 1965. This address can also be written as 350 Vine St, Glendale, CA 91204.
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This listing information is up-to-date as of November 12, 2024. For the most current information, please contact Donald Hinton, (818) 421-9071
