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