354 Elk Avenue

Glendale, CA 91204

$1,919,000

Sold Price
N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten $622 / sqft

1946

calendar_month Built

Property Description

$100,000 price reduction... We are pleased to introduce a rare opportunity to acquire a TRUE walk to Americana & Galleria investment opportunity. Elk Americana is comprised of 6 units which are all renovated. Situated just 1 block from both, this 6 unit offering awards tenants the utmost walkability with a Walk Score of 91! The current ownership has done an astute job of renovating units to modern amenity finishes which complements the craftsman styled feel of the property. Due to the property’s unique aesthetic and proximity to downtown Glendale, vacancy is either non-existent or quickly absorbed. New ownership can continue to run this ease of management asset while capturing loss to lease with minimal effort. Rear building was repipied in 2019. Offered at a very attractive in-place CAP rate of 4.35% and 15.7 GRM, that asset at market rents will provide 5.02% CAP and 14.1 GRM, hard to find metrics in the Gem City. ** Contact listing agent for offering memorandum **

Interior Features

Bedroom Information
Bedrooms N/A
Bathroom Information
Bathrooms N/A

Listing Information

Address 354 Elk Avenue
City Glendale
State CA
Zip 91204
County Los Angeles
Listing Agent Levon Alexanian DRE#00911091
Courtesy Of Keller Williams World Media Center
MLS SR22241201
Close Price $1,919,000
Close Date Monday, June 5th, 2023
Status Closed
Type Residential Income
Subtype Apartment
Structure Size N/A
Lot Size 6,344
Year Built 1946
DOM 135

Exterior Information

Maps

Listing information courtesy of: Levon Alexanian, Keller Williams World Media Center . *Based on information from the Association of REALTORS/Multiple Listing as of Jun 7th, 2023 at 11:18 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.