128 Carr Dr
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128 Carr Dr
8 Unit Apartment Building $2,580,000 ($322,500/Unit) 5.25% Cap Rate Glendale, CA 91205
INVESTMENT HIGHLIGHTS
- The building has a special character and charm with large units.
EXECUTIVE SUMMARY
This 8 unit character building with larger units is located in a desirable area of Glendale. Most units have been renovated; however, the character of each unit is preserved. It is located at a walking distance to a park, shops and many amenities. The 8 unit next to this building is also for sale at 132 Carr Drive. It is owned by the same owner and they prefer to sell both buildings together. However, it can be sold separately.
FINANCIAL SUMMARY (ACTUAL - 2023) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$192,480
|
$25.13
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$192,480
|
$25.13
|
| Taxes |
$28,125
|
$3.67
|
| Operating Expenses |
$29,016
|
$3.79
|
| Total Expenses |
$57,141
|
$7.46
|
| Net Operating Income |
$135,339
|
$17.67
|
FINANCIAL SUMMARY (ACTUAL - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $192,480 |
| Annual Per SF | $25.13 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $192,480 |
| Annual Per SF | $25.13 |
| Taxes | |
|---|---|
| Annual | $28,125 |
| Annual Per SF | $3.67 |
| Operating Expenses | |
|---|---|
| Annual | $29,016 |
| Annual Per SF | $3.79 |
| Total Expenses | |
|---|---|
| Annual | $57,141 |
| Annual Per SF | $7.46 |
| Net Operating Income | |
|---|---|
| Annual | $135,339 |
| Annual Per SF | $17.67 |
PROPERTY FACTS Under Contract
SITE AMENITIES
- Vintage Building
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 6 | $1,988 | 900 - 950 |
| 2+1 | 2 | $2,188 | 950 |
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Walk Score®
Very Walkable (84)
PROPERTY TAXES
| Parcel Number | 5680-027-014 | Total Assessment | $626,829 (2024) |
| Land Assessment | $476,154 (2024) | Annual Taxes | $28,125 ($3.67/SF) |
| Improvements Assessment | $150,675 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
5680-027-014
Land Assessment
$476,154 (2024)
Improvements Assessment
$150,675 (2024)
Total Assessment
$626,829 (2024)
Annual Taxes
$28,125 ($3.67/SF)
Tax Year
2023
ZONING
| Zoning Code | GLR4YY |
| GLR4YY |
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Boardwalk Properties & Investments
128 Carr Dr
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