Major Price Reduction/Owner Motivated to Sell | 1227-1229 S Central Ave
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Major Price Reduction/Owner Motivated to Sell 1227-1229 S Central Ave
45 Unit Apartment Building $11,400,000 ($253,333/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
Major Price Reduction/Owner Motivated for Year End Closing
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 3 studios and 42 1 bd/1 ba apartments homes and offers onsite laundry, secure controlled access, a spacious courtyard, laminate flooring, microwave ovens, and air conditioning. The ±30,896 square foot building also features a beautiful and meticulously maintained pool, which is a bonus feature in sunny Southern California!
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 3 studios and 42 1 bd/1 ba apartments homes and offers onsite laundry, secure controlled access, a spacious courtyard, laminate flooring, microwave ovens, and air conditioning. The ±30,896 square foot building also features a beautiful and meticulously maintained pool, which is a bonus feature in sunny Southern California!
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $11,400,000 | Building Class | C |
| Price Per Unit | $253,333 | 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 | $11,400,000 |
| Price Per Unit | $253,333 |
| 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 | $2,295,639 |
| Land Assessment | $1,524,938 | Total Assessment | $3,820,577 |
PROPERTY TAXES
Parcel Number
5640-006-006
Land Assessment
$1,524,938
Improvements Assessment
$2,295,639
Total Assessment
$3,820,577
zoning
| Zoning Code | C3 |
| C3 |
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Edward Matevosian -
Geoffrey Martin -
CBRE, Inc.
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Major Price Reduction/Owner Motivated to Sell | 1227-1229 S Central Ave
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