Sold

354 W Elk Avenue

Glendale CA, 91204

$1,919,000


$622.85 per sqft

Sold

3,081 sqft

Condo

Built in 1946

Listed by Levon Alexanian with Keller Williams World Media Center 818-239-3500

$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 **

SR22241201

MLS ID

November 14, 2022

Listed

March 23, 2024

Updated

Map

354 W Elk Avenue
Glendale CA, 91204

Interior Features

Total Stories

2


Laundry Description

Common Area


Fireplace

No


Cooling

No


Heating

No

Exterior/Building Features

Lot Size

0.15 Acres


Lot Features

2-5 Units/Acre


Sewer

Public Sewer

Other Property Details

Area Name

628 - Glendale-South of 134 Fwy


Days on Market

135


Garage

Yes


Garage Spaces

2


Parking Total

2


View

No


County

Los Angeles


Water Source

Public


Pool

No


Pool Features

None


Zoning

GLR4YY


Buyer Agency Compensation

2%

Listing Contact: 818-239-3500 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 3/23/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 3/23/2024 at 1:16 AM UTC

 

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