6% Cap Rate on SoCal Multi-Family Property | 1227-1229 S Central Ave
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6% Cap Rate on SoCal Multi-Family Property 1227-1229 S Central Ave
45 Unit Apartment Building $15,043,599 CAD ($334,302 CAD/Unit) Glendale, CA 91204
INVESTMENT HIGHLIGHTS
- The Property is also conveniently located 1.7 miles from Downtown Glendale – a short 3 minutes by car and 5 minutes by bike.
- Located in Glendale’s Tropico neighborhood, Walk Score® named the Property a walker’s paradise. It scored near perfect Walk Score® of 91 out of 100
- Adjacent to Burbank to the north and Pasadena to the east, Glendale is located 10 miles north of DTLA. It is the 4th largest city in California
- The Property is a few blocks away from the Americana & Glendale Galleria Malls & public transit. It's steps away from Von’s grocery store.
EXECUTIVE SUMMARY
Owner Motivated to Sell
THE SUBJECT PROPERTY IS A CHARMING 45-UNIT GARDEN APARTMENT BUILDING BUILT IN 1927 THAT COMBINES OLD WORLD CHARM IN A SOPHISTICATED SUBURBAN/URBAN SETTING.
Reflecting pride of ownership, the two-story brick building consists of three (3) studios and forty-two (42) 1 bd/1 ba apartments homes and offers onsite laundry, secure controlled access, a spacious courtyard and pool, laminate flooring, and microwave ovens.
The Property has been family-owned and managed for over fifty (50) years. The plumbing system has been upgraded over the years.
THE SUBJECT PROPERTY IS A CHARMING 45-UNIT GARDEN APARTMENT BUILDING BUILT IN 1927 THAT COMBINES OLD WORLD CHARM IN A SOPHISTICATED SUBURBAN/URBAN SETTING.
Reflecting pride of ownership, the two-story brick building consists of three (3) studios and forty-two (42) 1 bd/1 ba apartments homes and offers onsite laundry, secure controlled access, a spacious courtyard and pool, laminate flooring, and microwave ovens.
The Property has been family-owned and managed for over fifty (50) years. The plumbing system has been upgraded over the years.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
| Price | $15,043,599 CAD | Building Class | C |
| Price Per Unit | $334,302 CAD | Lot Size | 0.65 AC |
| Sale Type | Investment | Building Size | 30,890 SF |
| No. Units | 45 | Average Occupancy | 97% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1927 |
| Apartment Style | Low Rise | Parking Ratio | 0.39/1,000 SF |
| Price | $15,043,599 CAD |
| Price Per Unit | $334,302 CAD |
| Sale Type | Investment |
| No. Units | 45 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.65 AC |
| Building Size | 30,890 SF |
| Average Occupancy | 97% |
| No. Stories | 2 |
| Year Built | 1927 |
| Parking Ratio | 0.39/1,000 SF |
UNIT AMENITIES
- Kitchen
- Oven
- Range
SITE AMENITIES
- Controlled Access
- Courtyard
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 3 | - | - |
| 1+1 | 42 | - | 650 |
Walk Score®
Walker's Paradise (92)
PROPERTY TAXES
| Parcel Number | 5640-006-006 | Improvements Assessment | $3,255,882 CAD |
| Land Assessment | $2,162,804 CAD | Total Assessment | $5,418,686 CAD |
PROPERTY TAXES
Parcel Number
5640-006-006
Land Assessment
$2,162,804 CAD
Improvements Assessment
$3,255,882 CAD
Total Assessment
$5,418,686 CAD
ZONING
| Zoning Code | C3 |
| C3 |
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6% Cap Rate on SoCal Multi-Family Property | 1227-1229 S Central Ave
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