1700 Del Valle Ave
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1700 Del Valle Ave
8 Unit Apartment Building $2,700,000 ($337,500/Unit) 4.89% Cap Rate Glendale, CA 91208
Investment Highlights
- Prime North Glendale Neighborhood
- Desirable Unit Mix: Five 1Bed/1Bath, Two 2Bed/1Bath, & One 3Bed/2Bath
- Landlord Friendly City: Glendale is Subject to AB1482
- Immediate Value Add Potential with Two Vacant Units
- Large Units: Average Unit Size 1,000 SF+
- Short Distance to Glendale Community College & Montrose Village Square
Executive Summary
The SK Group of Marcus & Millichap is pleased to present the opportunity to acquire 1700 Del Valle Ave, an 8-unit multifamily property located in the desirable Verdugo Woodlands neighborhood of Glendale.
Built in 1948, 1700 Del Valle is situated on a generous 12,676 square feet of land and zoned R1650. The property boasts 8,252 square feet of living space consisting of five 1 bed/1 bath, two 2 bed/1 bath, & one 3 bed/2 bath units. With the two 2-bedroom units currently vacant, an investor can immediately add value through renovations and achieve market rents while also benefiting from an additional 16% upside across the remaining units. With on-site laundry and an implemented utility bill-back program, the property is perfectly situated to maximize income for a potential investor. There are eight parking spaces that include three private garage spaces and a five-vehicle carport, providing the potential for an investor to add ADUs.
With its impeccable location just south of the vibrant Montrose Village Square & minutes away from Glendale Community College, the property continues to attract a strong renter pool due to its quiet residential feel and convenient location. Its proximity to the 2, 134, and 210 freeways provides residents with convenient access to surrounding neighborhoods of Burbank, Pasadena, Eagle Rock and Downtown Los Angeles.
Built in 1948, 1700 Del Valle is situated on a generous 12,676 square feet of land and zoned R1650. The property boasts 8,252 square feet of living space consisting of five 1 bed/1 bath, two 2 bed/1 bath, & one 3 bed/2 bath units. With the two 2-bedroom units currently vacant, an investor can immediately add value through renovations and achieve market rents while also benefiting from an additional 16% upside across the remaining units. With on-site laundry and an implemented utility bill-back program, the property is perfectly situated to maximize income for a potential investor. There are eight parking spaces that include three private garage spaces and a five-vehicle carport, providing the potential for an investor to add ADUs.
With its impeccable location just south of the vibrant Montrose Village Square & minutes away from Glendale Community College, the property continues to attract a strong renter pool due to its quiet residential feel and convenient location. Its proximity to the 2, 134, and 210 freeways provides residents with convenient access to surrounding neighborhoods of Burbank, Pasadena, Eagle Rock and Downtown Los Angeles.
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,700,000 | Apartment Style | Low Rise |
| Price Per Unit | $337,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.29 AC |
| Cap Rate | 4.89% | Building Size | 8,252 SF |
| Gross Rent Multiplier | 13.32 | Average Occupancy | 75% |
| No. Units | 8 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1948 |
| Property Subtype | Apartment | Parking Ratio | 0.97/1,000 SF |
| Price | $2,700,000 |
| Price Per Unit | $337,500 |
| Sale Type | Investment |
| Cap Rate | 4.89% |
| Gross Rent Multiplier | 13.32 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.29 AC |
| Building Size | 8,252 SF |
| Average Occupancy | 75% |
| No. Stories | 3 |
| Year Built | 1948 |
| Parking Ratio | 0.97/1,000 SF |
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 1 | $2,700 | - |
| 2+1 | 1 | $2,700 | - |
| 1+1 | 1 | $1,654 | - |
| 1+1 | 1 | $1,545 | - |
| 1+1 | 1 | $2,090 | - |
| 1+1 | 1 | $1,499 | - |
| 1+1 | 1 | $1,824 | - |
| 3+2 | 1 | $2,874 | - |
PROPERTY TAXES
| Parcel Number | 5653-013-009 | Total Assessment | $1,462,521 |
| Land Assessment | $1,160,084 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $302,437 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
5653-013-009
Land Assessment
$1,160,084
Improvements Assessment
$302,437
Total Assessment
$1,462,521
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
zoning
| Zoning Code | R1650 |
| R1650 |
-
Sevak Keshishian -
Emin Khachatoorian -
Shara Parseghian -
The SK Group of Marcus & Millichap
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1700 Del Valle Ave
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