Courtesy of Michael Bell, Sotheby''s International Realty, Inc.,

1217 E Harvard Street

Glendale, CA, 91205

$5,895,000

$510 per ft²
$5,895,000
$510 per ft²
Pending
Pending
 - For Sale
carpenters-square
11,537 ft²
property_type
Multi-family
calendar
Built 1925
22 unit Spanish Colonial Revival Bungalow Court apartment on Harvard Street in Glendale, California. 22 1-bed/1-bath units, a central laundry room, 19 carports, 1 one-car garage, a large 300 sf storage room, and a smaller storage room. 20 of 22 units have been remodeled by its retired general contractor owner over the past 20 years. Rarely ever a vacancy or a late payer. 100% occupied. Tenants pay lower-than-market rents and have had no increases in a few years. Totaling 11,537 sf and situated on a 23,630 sqft flat lot. Separately metered electric and gas, copper plumbing, AC wall units, newer roofs. Easy to maintain....this property has been self managed for decades. Offering historic value as well as investment opportunity in one of LA's most attractive rental markets. Upsides include continued rent growth projections, eligible for significant Mills Act tax savings, raising rents, adding a yearly escalation clauses, interest on security deposits, charging for parking (half the tenants don't own a car), renting out 3 storage units, and converting carports into ADU's. Glendale is an entertainment and shopping destination in Los Angeles, synonymous with high-end retail and comfortable living. Americana at Brand is less than 1 mile away. Located in the southern portion of Glendale, closest to commerce, and in close proximity to schools and transportation (a few blocks from the 134 and 2 fwy's). Zoning R2250 - Medium Density Residential.
MLS ID:
P1-4858
Listed:
5/20/21
Updated:
1/29/22

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Interior Features
Open Floorplan
Laundry Description
Common Area
Fireplace
None
Cooling
Wall/Window Unit(s)
Heating
Forced Air

Exterior/Building Features

Lot Size
0.54 acres lot
Architectural Style
Bungalow, Colonial, Spanish
Lot Details
Front Yard, Garden, Lawn, Landscaped, Level, Rectangular Lot, Street Level
Roof
Tile
Sewer
Public Sewer

Other Property Details

HOA Amenities
Biking, Curbs, Gutter(s), Park, Storm Drain(s), Street Lights, Suburban, Sidewalks
Attached Garage
Yes
Garage Spaces
1
Parking
Attached Carport, Assigned, Carport, Garage
Parking Total
20.0
View
Y
County
Los Angeles
Utilities
Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Underground Utilities, Water Connected
Water Source
Public
Pool
No
Pool Description
None
Total Stories
2
Zoning
R2250

Property History

Date
Event
Price
Value
1/27/22
Pending
-
-
12/1/21
Active Under Contract
-
-
10/1/21
Price Change
$5,895,000
-1%
8/9/21
Price Change
$5,975,000
-1%

 

Courtesy of Michael Bell, Sotheby''s International Realty, Inc.,

Based on information from California Regional Multiple Listing Service, Inc. as of 1/29/22. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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Data last updated 3:40 AM UTC, 1/29/22

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