1055 Grover Avenue
Glendale, CA, 91201 $ 3,000,000
Bedrooms12 Baths11.0 Sq 7,211 Monthly Estimate*
$ 20,956
Listed by Markarian Realty
for $3,000,000 with 12 bedrooms and 11 full baths. This 7,211 square foot home was built in 1962 on a lot size of 0.1777.
Unique and Prime investment opportunity 10 units in desirable Glendale Glenoaks area. Pride of ownership, Owns for about 50 years. Due to this long term ownership relationship with great tenants, the current rents have remained very low, leaving about 80% upside in rents Current rents are significantly below market, for 10 units totaling about $151,380 a year. One 3 bed 2 bath, Two 2 bed 1 bath, Five 1 bed 1 bath, Two single. The rents in the area for a 3 bedroom unit can be over $3,000, for 2 bed $2500 and 1 bed $2000 a month. Some TLC on this property current rents can potentially go up about $252,000 a year. The property is centrally located for commutes, supermarkets, restaurants and schools . Driving distance downtown Los Angeles, Burbank, Montrose, Americana and Glendale Galleria, NOHO district, Old Town Pasadena, and the Rose Parade, JPL. Local LA and Hollywood attractions include the Music Center, Disney Music Hall, and Hollywood Bowl. This 10 units is truly one of a kind and great investment. Per seller, inside 6 units are updated, Has copper plumbing, newer water heater, walk way, all wall heaters and wall A/C’s, about 13 parking, Everything in this area sells quickly, priced right and will not last long in this market.
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FeaturesGeneralSewer PublicSewer
Heating WallFurnace
Cooling WallWindowUnits
Roof Flat
Zoning GLR4YY
HOA 0.0
Garage Spaces 13.0
Pool Features None
Year Built 1962
Electric Standard
Tenant Pays Electricity Gas
Property SubType Apartment
Gross Income 151380.0
Community Features Curbs
County Los Angeles
Net Operating Income 120000.0
Operating Expense 10320.0
Insurance Expense 3000.0
New Construction N
Property Type ResidentialIncome
HOA / Comm Assn N
Attached Garage N
Garage Y/N Y
Special Listing Conditions Standard
Status Active
Directions Glenoaks
City Glendale
Entry Location Ground level
View Y/N N
Senior Community Y/N N
Total Units 10
MLS Area 626 - Glendale-Northwest
Lot Size Square Feet 7741.0
Private Pool N
Waterfront Y/N N
Carport Y/N N
Number of Units Leased 10
Street Name Grover
Listing Terms Cash CashtoNewLoan
Property Attached Y/N Y
Land Lease Y/N N
Electric Expense 0.0
Home Warranty Y/N N
Fuel Expense 3120.0
Trash Expense 3960.0
Water Sewer Expense 1800.0
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N Y
Days on Market 5
Building Area Units SquareFeet
Standard Status Active
Year Built Source Assessor
Tax Lot 20
Total Actual Rent 151370.0
Property Sub Type Additional Apartment
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ExteriorLot Features Yard
Water Source Public
Total Parking 13.0
Lot Size Area 7741.0
Number of Buildings 1
Spa N
Building Area Total 7211.0
Lot Size Acres 0.1777
Lot Size Units SquareFeet
Lot Size Source Assessor
Number of Separate Water Meters 1
Number of Separate Gas Meters 11
Number of Separate Electric Meters 11
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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InteriorFireplace Features SeeRemarks
Total Stories 2
Common Walls Item1CommonWall
Basement (Y/N) N
Air Conditioning Y/N Y
Heating Y/N Y
Fireplace Y/N Y
Street Suffix Avenue
Laundry Features CommonArea
Entry Level 1
Electric On Property Y/N N
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* Excluded FeaturesAffordability Calculator
- Monthly Principal & Interest
- $20,956
- Monthly Property Taxes
- --
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyMulti-family listings in Glendale, CA
Average List Price $3,732,482
Percent of Sale Price 24%
About Glendale, CA 199,017 Population
2% Since 2002
$ 61,015 Median Income
42.24 Median Age
26% Households with Children
Trends Information provided by ATTOM Data Solutions.
273443 Elementary School
272636 Middle School
Unknown High School High School
Pricing HistoryDate | Price | Price Change | Description |
---|
3/8/2024 | $3,000,000 | | Listed Price |