This 5-unit apartment building located in Glendale, CA is currently listed for $1,999,000. The building generates $96,300 in annual rent across its 6 bedrooms and 5 bathrooms. Upgrades have been made and the seller estimates an additional 20% potential upside in rents is possible. The property features garage parking for 4+ cars and is located between Downtown Glendale, Atwater Village, and Downtown Los Angeles. Buyers are advised to verify listing details independently.

1. NOTICE: Due to COVID-19, DOM was frozen and not recorded in the history from March 15, 2020 to July 5, 2020.Broker/Agent does not guarantee the accuracy of the square footage, lot size or
other information concerning the conditions or features of the property provided by the seller or obtained from Public Records or other sources. Buyer is advised to independently verify the accuracy of
all information through personal inspection and with appropriate professionals. The property may have video/surveillance devices. VESTAPLUS™ Copyright © 2022 by TheMLS™. Information deemed
reliable but not guaranteed. Presented by: Aram Gaboudian CALDRE# 01493911
361 W PALMER AVE 5
# of Units
2,485/TA
Sqft
6,999/VN
Lot Size
Income

Active
GLENDALE, CA 91204 LP $1,999,000
Expected on Market
Area 1256 Glendale-South of
134 Fwy
Subdivision
List Price Per Sqft $804.43
Vacancy 0
Total Bedrooms 6
Total Bathrooms 5.00
MLS# 22-127439
APN 5640-008-012
Type # of Units Bedrooms Baths Furnished Rent Actual Rent Projected Rent
Unit 1 1 1 1.00 No $1,700.00 $1,700.00 $1,819.00
Unit 2 1 1 1.00 No $1,550.00 $1,550.00 $1,658.50
Unit 3 1 1 1.00 No $1,750.00 $1,750.00 $1,872.50
Unit 4 1 1 1.00 No $1,575.00 $1,575.00 $1,685.20
Unit 5 1 2 1.00 No $1,450.00 $1,450.00 $1,551.50
Directions: Off San Fernando Rd
Remarks: Located idealy between Downtown Glendale, Atwater Village, and Downtown Los Angeles is a very rare opportunity for this 5 unit building with up to 20%
potential upside in rents. Current monthly rent total is $8,025/mo ($96,300/year). The unit mix is 1 unit with 2 beds 1 bath and 4 units with 1 bed 1 bath. Tenants pay for their
own electricity and gas. Owner has made many updates and upgrades.
 Income Details
Scheduled or Actual Actual
Rent Control %
GOI $96,300
Total Expense $10,637
NOI $85,663
Gross Income $96,300
Cap Rate
GRM 21.80
Actual AGR
Actual GAI
 Structure Info
Type of Units 5
Year Built/Source 1950/Vendor Enhanced
Stories 2
Buildings 3
Security
Sewer
Style
Prop Condition
View
Water
 Contract Info DOM 11
List Date 02-14-2022
List Price $1,999,000
Orig List Price $1,999,000
Status Date 02-14-2022
Change Date/Type 02-22-2022/Active
Sale Type Standard
 Land/Parking Info
Zoning GLR4P*
Addl Parcel
Rent Control
Land Type
Parking Type Garage - 4+ Car, Garage Is Attached
Total Parking 5
Covered Parking
Uncovered Parking
 Community/Development
Complex/Assoc Name
Tax Mello Roos
 Interior Features
AC/Cooling Wall/Window
Heating Wall, Central
Equip/Appl Garbage Disposal
Flooring
Laundry
Laundry Equip
 Exterior Features
Construction
Exterior Constr
Pool
Roofing
Spa
Fence

2. NOTICE: Due to COVID-19, DOM was frozen and not recorded in the history from March 15, 2020 to July 5, 2020.Broker/Agent does not guarantee the accuracy of the square footage, lot size or
other information concerning the conditions or features of the property provided by the seller or obtained from Public Records or other sources. Buyer is advised to independently verify the accuracy of
all information through personal inspection and with appropriate professionals. The property may have video/surveillance devices. VESTAPLUS™ Copyright © 2022 by TheMLS™. Information deemed
reliable but not guaranteed. Presented by: Aram Gaboudian CALDRE# 01493911
361 W PALMER AVE 5
# of Units
2,485/TA
Sqft
6,999/VN
Lot Size
Income

Active
GLENDALE, CA 91204 LP $1,999,000