About 1241 Boynton Street
This offering provides investors with a rare opportunity to secure a rather substantial footprint within Glendale, as only six properties of this size have sold within the city over the past three years. Due to the fact that the property subject to AB 1482, a new owner may be able to recapture the rent upside and keep pace with improving rent growth via higher allowable rent increases, when compared with other assets subject to Los Angeles rent control. The property benefits from its proximity to the high-end shopping and dining destinations nearby -- notably the Americana at Brand and the Glendale Galleria -- while providing tenants with a more peaceful and serene atmosphere near the Adams Hill neighborhood, removed from the densely urban neighborhood in Downtown Glendale. Residents also enjoy access to the nearby boutiques, coffee shops, and restaurants in historic Adams Square, just blocks from the property.
