559 Glenwood Road

Glendale, CA 91202

$2,400,000

Listed Price
N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten $361 / sqft

1952

calendar_month Built

Property Description

559 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.

Interior Features

Bedroom Information
Bedrooms N/A
Bathroom Information
Bathrooms N/A

Listing Information

Address 559 Glenwood Road
City Glendale
State CA
Zip 91202
County Los Angeles
Listing Agent Neema Ahadian DRE#01346750
Courtesy Of Marcus & Millichap
MLS 24374047
List Price $2,400,000
Status Active
Type Residential Income
Structure Size N/A
Lot Size 10,508
Year Built 1952
DOM 3

Exterior Information

Maps

Listing information courtesy of: Neema Ahadian, Marcus & Millichap . *Based on information from the Association of REALTORS/Multiple Listing as of Mar 29th, 2024 at 11:44 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.