$900,000 price reduction! Only $368K per door. 13.9 GRM 5.1% cap going in. We are pleased to be retained for this exclusive marketing assignment of the Elm Terraces in Glendale. This 34+1 n.c. unit apartment community is located in the most-sought rental pocket in all of the city, north of Glenoaks Blvd known as "El Miradero" / Grandview. The demand for rental housing in this pocket provides for historically low levels of vacancy and in turn premium in rental levels. The asset has been within the same family ownership for over 3 decades and presents an opportunity to unlock lock value by either loss to lease capture or a mild modernization update. Comprising mostly of 2+1.5 townhouse units, the Elm Terraces built in 1986, offers several key tenant amenities including individual hot water heaters, controlled intercom, and gated parking, ample parking, and storage. The walkability to a plethora of local shops, services, and cafes is a major benefit of living at the Elm Terraces.
MLS #
CRSR24017647
MLS Source
California Regional MLS
Days on Site
100
Buyer's Brokerage Compensation*
1.00
Garage/Parking
Garage: 0 Car(s)
Water
Private
# Buildings | # Leased Units | # Total Units |
---|---|---|
4 | – | – |
1160 Elm Ave is a Residential Income in Glendale, CA 91201. This – square foot property sits on a – Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at $12,900,000 and was built in 1986.
This address can also be written as 1160 Elm Ave, Glendale, CA 91201.©2024 California Regional MLS. All rights reserved. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Information provided is for personal, non-commercial use by the viewer and may not be redistributed without explicit authorization from California Regional MLS.
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This listing information is up-to-date as of April 08, 2024. For the most current information, please contact Levon Alexanian, (818) 239-1206