$2,400,000
559 Glenwood Road, Glendale 91202
4
Beds
3
Baths
6,642
Square feet
10,508
Lot Size
7
# Of Units
Listing Agent
Neema Ahadian - Marcus & Millichap559 Glenwood Rd is a seven-unit multifamily property stands out as a rare find in a sought-after residential area, promising both stability and growth potential for investors.Located on the strategic corner of Clement Dr & Glenwood Rd, the property benefits from its proximity to key educational institutions and is nestled in an affluent neighborhood that boasts a high average household income. Its accessibility to Downtown Glendale, major shopping centers like the Glendale Galleria, and essential freeways positions it as an ideal residential choice for a wide range of tenants.The building is currently fully occupied, featuring a mix of one single and six two-bedroom units with six parking garages, each with dedicated parking. Recent rent adjustments have been implemented, affirming the property's strong income generation capability. Despite its well-maintained status, highlighted by quality interior finishes such as hardwood flooring and recessed lighting, the property offers significant upside potential. With most units rented below market rates, strategic upgrades and unit turnovers could lead to an increase in rental income by over 45%.Offered at a competitive price per unit and per square foot, this investment presents a rare opportunity to enter or expand in the Glendale market. The combination of its location, full occupancy, and untapped value-add potential, set against a backdrop of limited market inventory, makes it a compelling choice for those looking to invest in a thriving residential rental market.
Facts & Features
MLS® # | 24374047 |
---|---|
Price | $2,400,000 |
Bedrooms | 4 |
Bathrooms | 3.00 |
Square Footage | 6,642 |
Lot Size | 10,508 |
Year Built | 1952 |
Type | Residential Income |
Status | Active |
# Of Units | 7 |
Community Information
Address | 559 Glenwood Road |
---|---|
Area | 626 - Glendale-Northwest |
City | Glendale |
County | Los Angeles |
Zip Code | 91202 |
Amenities
Parking Spaces | 6 |
---|---|
Parking | Garage |
Garages | Garage |
Is Waterfront | No |
Has Pool | No |
Interior
Heating | Wall Furnace |
---|---|
Has Basement | No |
Fireplace | No |
# of Stories | 2 |
Stories | Two |
Additional Information
Date Listed | March 26th, 2024 |
---|---|
Days on Market | 40 |
Zoning | GLR4YY |
Foreclosure | No |
Short Sale | No |
RE / Bank Owned | No |
Listing Details
Agent | Neema Ahadian |
---|---|
Office | Marcus & Millichap |