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1055 Grover Ave
For Sale $2,799,999
$2,799,999
- Unknown Bedrooms
- Unknown Bathrooms
- Unknown Sq Ft
- 7,741 Sq Ft
Description
Unique and Prime investment opportunity 10 units in desirable Glendale Glenoaks area. Pride of ownership, Owns for about 50 years. Due to this long term ownership relationship with great tenants, the current rents have remained very low, leaving about 80% upside in rents Current rents are significantly below market, for 10 units totaling about $165,000 a year. One 3 bed 2 bath, Two 2 bed 1 bath, Five 1 bed 1 bath, Two single. The rents in the area for a 3 bedroom unit can be over $3,500, for 2 bed $2800 and 1 bed $2100 a month. Some TLC on this property current rents can potentially go up about $267,000 a year. The property is centrally located for commutes, supermarkets, restaurants and schools . Driving distance downtown Los Angeles, Burbank, Montrose, Americana and Glendale Galleria, NOHO district, Old Town Pasadena, and the Rose Parade, JPL. Local LA and Hollywood attractions include the Music Center, Disney Music Hall, and Hollywood Bowl.
This 10 units is truly one of a kind and great investment. Per seller, inside 6 units are updated, Has copper plumbing, newer water heater, walk way, all wall heaters and wall A/C’s, about 13 parking, Everything in this area sells quickly, priced right and will not last long in this market.
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Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $2,799,999 |
| Property Type | Condo/Co-Op |
| Usable Sqft | Unknown |
| Number of Stories | 2 stories |
| Parking Spots | 13 spots |
| Year Built | 1962 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| HOA Fees: | $0 |
| Association Name: | Unknown |
| Association Amenities: | Unknown |
| APN # | 5623031015 |
| MLS # | GD24186109 |
| Property ID | 320833491 |
| Lot Sqft | 7,741 |
| Zoning | GLR4YY |
| Total Units | 10 |
| Days on Market | 96 |
| Original List Price | $1,799,999 |
| Date Updated | December 13, 2024 |
| Date Created | September 08, 2024 |
| Unit # | Beds | Baths | Current Rent | Proforma Rent |
| Unit #1 | $151,370 | $0 |
| Net Income (Yr) | $ 123,750 |
Listing Provided By
Vartan Markarian an agent of . Lic #01059771
© 2024 CRMLS. All rights reserved. Some listings on this website are from CRMLS as of December 13, 2024 The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Robert Crawford
REAL ESTATE AGENT