États-UnisCalifornieGlendaleVineyard107 North Columbus Avenue

107 North Columbus Avenue
107 North Columbus Avenue Glendale, Californie 91203 États-Unis

$7,100,000
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Graceland Apartments, located at 107 N. Columbus Avenue, is a 13-unit historic American Four Square asset, located one block from the Glendale Americana. Current ownership has spent over one million dollars on capital improvements, including new...
$7,100,000
AUTRE DEVISE
.2169 HECTARES
Extérieur
Revenu Résidentiel
Type de propriété
1925
Année de construction
PW23169667
ID Web
PW23169667
ID MLS
Glendale Unified
Arrondissement scolaire
235
jours

About 107 North Columbus Avenue

Graceland Apartments, located at 107 N. Columbus Avenue, is a 13-unit historic American Four Square asset, located one block from the Glendale Americana. Current ownership has spent over one million dollars on capital improvements, including new electrical system, plumbing, and roofs. Spread across two parcels, Graceland Apartments has a strong unit mix, comprised of (2) 2 BD/1 BA, (6) 1 BD/1 BA, and (5) studios. Boasting spacious floorplans, the majority of the units have been thoughtfully restored to capitalize on the strong tenant base in the area. Current ownership has implemented a RUBS program across all units to improve operational efficiencies, allowing new ownership to operate the asset at a sub 30% expense ratio. Ten existing garages provide current income and also have the potential to be converted into (3) 2 BD/1 BA ADUs (approx. 700 SF each) for additional rental revenue of approximately $34,605 annually. Based on estimates, a new owner can achieve a return on cost of nearly 333%. by raising rents to market and investing into ADU construction.

Listing Courtesy of Keller Williams - Santa Monica, Email/Phone : 310-463-2916

The listing brokers offer of compensation is made only to participants of the MLS where the listing is filed.

aménagements

Parking
Garage
Agglomération
Trottoirs

PROPERTY INFORMATION

Community Info
Sidewalks
Garage Info
10
Sewer
PublicSewer
Water
Public

EXTERIOR

Lot Description
Item1115UnitsAcre

ADDITIONAL INFORMATION

Number of Units
13
Listing Courtesy of Keller Williams - Santa Monica, Email/Phone : 310-463-2916
Listing Courtesy of Keller Williams - Santa Monica, Email/Phone : 310-463-2916
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