221227 W Dryden,  Glendale CA, 91202 (Residential Income)

10,672 sqft
Status: Active
MLS#: 316010830
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Last Updated: 12/11/2016 1:59 AM
Description for 221227 W Dryden Glendale, CA 91202
12 apartment units on 2 of 3 adjacent R-1250* zoned lots, the 3rd lot being vacant valued $1,000,000, with alley access, totaling 24,722* SF in prime North Central (above Glenoaks Blvd.) none rent control city. With 150* ft. frontage current city ordinance allows 1 dwelling unit per 1,000* SF of land providing the possibility of developing 24* Condos/Apartments units on the 3 lots. Opportunities are; (i) hold the 12 x 2 bdrms 1 bath units (8 x TH style & 4 x one level with individual Water Heaters & W/D Hookups) and sell or develop 6 uts on the vacant lot, or (ii) enjoy the existing income to later develop 24* units on all 3 lots. The 5 buildings existing 12 units being 10,672* SF (built in 1927*) are on 16,496* SF double lots are at 221-223 W. Dryden St. and the 3rd vacant parcels of 8,266* SF at 227 W. Dryden St. The current monthly rents range from $1,100 to $1,445 per unit, all on month-to-month bases, are significantly low. The location is affluent rental part of the city, market monthly rent for similar units in the area range between $1,650 to $1,750. See I/E details on the attached OM. MUST NOT ENTER PROPERTY OR CONTACT TENANTS, DRIVE BY ONLY PLEASE. *obtained from Los Angeles County Recorder records, city of Glendale.
Price
$3,895,000
Los Angeles
10,672 (approx)
316010830
Active
Description
12 apartment units on 2 of 3 adjacent R-1250* zoned lots, the 3rd lot being vacant valued $1,000,000, with alley access, totaling 24,722* SF in prime North Central (above Glenoaks Blvd.) none rent control city. With 150* ft. frontage current city ordinance allows 1 dwelling unit per 1,000* SF of land providing the possibility of developing 24* Condos/Apartments units on the 3 lots. Opportunities are; (i) hold the 12 x 2 bdrms 1 bath units (8 x TH style & 4 x one level with individual Water Heaters & W/D Hookups) and sell or develop 6 uts on the vacant lot, or (ii) enjoy the existing income to later develop 24* units on all 3 lots. The 5 buildings existing 12 units being 10,672* SF (built in 1927*) are on 16,496* SF double lots are at 221-223 W. Dryden St. and the 3rd vacant parcels of 8,266* SF at 227 W. Dryden St. The current monthly rents range from $1,100 to $1,445 per unit, all on month-to-month bases, are significantly low. The location is affluent rental part of the city, market monthly rent for similar units in the area range between $1,650 to $1,750. See I/E details on the attached OM. MUST NOT ENTER PROPERTY OR CONTACT TENANTS, DRIVE BY ONLY PLEASE. *obtained from Los Angeles County Recorder records, city of Glendale.
Listing Information
Property Type: Cluster, 2 Story
0.37 Acres 1,649,700 sq.ft. 10,672 (approx)
$364.97 1927
$0 2
Stucco, Frame
12 Total
Neighborhood
Room Information
Interior Features
Range
Hardwood, Carpet Wall to Wall, Laminate, Linoleum
Window/Wall Unit
Wall Unit
Exterior / Lot Features
Stucco, Frame
Asphalt
Glendale-R1250
Driving Directions
Turn North on FRWY-134 Central Ave. ramp, pass Glenoaks Blvd., turn left on West Dryden St.
Financial Considerations
5636011045
Listing Price History

Glendale Real Estate

Glendale is located in California. Glendale, California 91202 has a population of 192,537.

The median household income in Glendale, California 91202 is $54,369. The median household income for the surrounding county is $56,241 compared to the national median of $53,046. The median age of people living in Glendale 91202 is 41.1 years.

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Courtesy: Keller Williams R. E. Services Norick Toomanian
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