354 Elk Avenue, Glendale, CA 91204
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Sold Price :
$1,919,000
-
Beds :
N/A
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Baths :
N/A
-
Property Size :
N/A sqft
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Year Built :
1946
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 |
| Close Price |
$1,919,000 |
| Status |
Closed |
| Type |
Residential Income |
| Subtype |
Apartment |
| Structure Size |
N/A |
| Lot Size |
6,344 |
| Year Built |
1946 |
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.
