640 Ivy St
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640 Ivy St
6 Unit Apartment Building $2,690,000 ($448,333/Unit) 5.30% Cap Rate Glendale, CA 91204
INVESTMENT HIGHLIGHTS
- Built 1988
- 100% 2 bedrooms (2) are townhouse style
- 13.7 GRM on current rents
- 2 blocks to Americana & Galleria
EXECUTIVE SUMMARY
The Alexanian Apartment Advisors are pleased to be retained as the exclusive agents for this 6-unit multifamily investment offering in Glendale Ca.
Comprised of a remarkable unit mix, 2 blocks to Americana at Brand, and individual hot water heaters.
(5) of the 6 units are remodeled, 2 units are townhouse style and several HVAC units have been replaced.
At 13.7 GRM this is a great turnkey offering with additional rental upside potential. Multiple storage closets can p[potentially generate additional revenue streams and there might be potential to incorporate an ADU, buyer to confirm.
Comprised of a remarkable unit mix, 2 blocks to Americana at Brand, and individual hot water heaters.
(5) of the 6 units are remodeled, 2 units are townhouse style and several HVAC units have been replaced.
At 13.7 GRM this is a great turnkey offering with additional rental upside potential. Multiple storage closets can p[potentially generate additional revenue streams and there might be potential to incorporate an ADU, buyer to confirm.
PROPERTY FACTS
| Price | $2,690,000 | Apartment Style | Low-Rise |
| Price Per Unit | $448,333 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 5.30% | Building Size | 5,616 SF |
| Gross Rent Multiplier | 13.7 | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1988 |
| Property Subtype | Apartment | Parking Ratio | 1.96/1,000 SF |
| Price | $2,690,000 |
| Price Per Unit | $448,333 |
| Sale Type | Investment |
| Cap Rate | 5.30% |
| Gross Rent Multiplier | 13.7 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.16 AC |
| Building Size | 5,616 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1988 |
| Parking Ratio | 1.96/1,000 SF |
UNIT AMENITIES
- Air Conditioning
- Balcony
- Heating
- Kitchen
- Refrigerator
- Tub/Shower
SITE AMENITIES
- Controlled Access
- Laundry Facilities
- Gated
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2 | 4 | - | - |
| 2+2.5 | 2 | - | - |
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Walk Score®
Very Walkable (79)
Bike Score®
Very Bikeable (70)
PROPERTY TAXES
| Parcel Number | 5695-009-016 | Improvements Assessment | $353,412 |
| Land Assessment | $314,330 | Total Assessment | $667,742 |
PROPERTY TAXES
Parcel Number
5695-009-016
Land Assessment
$314,330
Improvements Assessment
$353,412
Total Assessment
$667,742
ZONING
| Zoning Code | R4, Glendale |
| R4, Glendale |
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640 Ivy St
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