421 Riverdale Drive

    Glendale, CA 91204
    • $5,100,000
    • STATUS: Active
    • ON SITE: 75 days
    • ID#: SR18212380
    UPDATED: 136 min ago
    $5,100,000
    • 0
      BEDS
    • 0.57
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 7,570
      SQFT
    • $674
      $/SQFT
    Type:
    Multi-Family
    Built:
    1926
    County:

    School Ratings & Info

    Description

    We are proud to represent this 16-unit apartment building in Glendale. The building was constructed in 1926, and it consists of (16) one-bedroom, one-bathroom units. Its lot size is 24,996 square feet, with a total of 7,570 rentable square feet. The units are completely furnished (with the exception of the manager's unit) and are rented to a combination of executive housing, and long term housing. 13 of the 16 utilities are paid for by the seller, but the property is separately metered for gas and electricity in case the new owner wants to transition back to traditional rentals. There is additional income from garage rentals and it can be increased as the owner is using multiple garages. The property has a historically high occupancy rate and a new owner can take over and achieve an above market return for the city of Glendale. The building can be financed with Chase Bank with 50% down or First Republic with 40% down. The property is centrally located in Glendale, which is a highly desirable rental market. As a major production center for the entertainment and animation industry, the city offers many amenities and attractions. Its residents enjoy excellent shopping and dining at the Americana at Brand, which features 75 shops and restaurants, as well an 18-plex theater. The city+GGs numerous high-rated restaurants and attractions earned its title as Los Angeles neighborhood of the year in Curbed magazine.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-11-19T00:30:30.353. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.fredsedgroup.com/homes/87172304

    421 Riverdale Drive Glendale, CA 91204

    • Price: $5,100,000
    • Status: Active
    • Updated: 136 min ago
    • ID#: SR18212380
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.57
    Acres
    7,570
    SQFT
    $674
    $/SQFT
    1926
    Built
    Neighborhood:
    628 - Glendale-South of 134 Fwy
    County:
    Los Angeles
    Area:
    628 - Glendale-South of 134 Fwy
    Property Description
    We are proud to represent this 16-unit apartment building in Glendale. The building was constructed in 1926, and it consists of (16) one-bedroom, one-bathroom units. Its lot size is 24,996 square feet, with a total of 7,570 rentable square feet. The units are completely furnished (with the exception of the manager's unit) and are rented to a combination of executive housing, and long term housing. 13 of the 16 utilities are paid for by the seller, but the property is separately metered for gas and electricity in case the new owner wants to transition back to traditional rentals. There is additional income from garage rentals and it can be increased as the owner is using multiple garages. The property has a historically high occupancy rate and a new owner can take over and achieve an above market return for the city of Glendale. The building can be financed with Chase Bank with 50% down or First Republic with 40% down. The property is centrally located in Glendale, which is a highly desirable rental market. As a major production center for the entertainment and animation industry, the city offers many amenities and attractions. Its residents enjoy excellent shopping and dining at the Americana at Brand, which features 75 shops and restaurants, as well an 18-plex theater. The city+GGs numerous high-rated restaurants and attractions earned its title as Los Angeles neighborhood of the year in Curbed magazine.
    Exterior Features

    Garage Spaces 9.00 Lot Features 16-20 Units/AcreFront YardGardenLot 20000-39999 Sqft Lot Size Source Assessor Lot Size Units Square Feet Parking Total 21.00 Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Laundry Features AreaCommunity Levels One

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Community Features SidewalksSuburban Country Us Electric Expense 13662.00 Elevation Units Feet Fuel Expense 0.00 Gross Income 475648.00 Gross Scheduled Income 475648.00 Insurance Expense 3624.00 Land Lease YN No Laundry YN Yes Net Operating Income 336166.00 New Construction YN No New Taxes Expense 62500.00 Number Of Separate Electric Meters 16 Number Of Separate Gas Meters 16 Number Of Separate Water Meters 1 Operating Expense 139483.00 Professional Management Expense 13175.00 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Expenses 139483.00 Trash Expense 1584.00 Water Sewer Expense 0.00 Water Source Public Year Built Source Assessor Zoning Glr4yy

    Listing provided courtesy of Cindy Hill of Keller Williams Realty-Studio.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-11-19T00:30:30.353. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
    Fred Sed Realty - Keller Williams
    4010 Barranca Pkwy Suite 100
    Irvine CA, 92604