530 Palm Drive,  Glendale CA, 91202 (Residential Income)

Status: NEW LISTING
MLS#: SR17234588
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Last Updated: 10/17/2017 8:39 AM
Description for 530 Palm Drive Glendale, CA 91202
We are pleased to introduce to you this rare opportunity to own 16 units in non- rent controlled Glendale, California. The Palm Glen apartments are a very well maintained asset boasting an extensive list of capital improvements over the years including upgrades to interior units. Detailed upgrades list in offering memorandum. Built in 1985, the assets incorporates central AC, subterranean parking and intercom/gated access. Offered already at in place CAP rate of 3.41% the asset also has 15% + loss to lease to further improve the NOI. Glendale has historically low vacancy factor and his in a supply constrained state of mid-sized assets. Situated North of Glenoaks Blvd, Palm Glen is in prime location of town. Walking distance to Elementary, Middle and High Schools. Tenants are within a couple minutes to Downtown Glendale shops and services. With the excellent location, condition and superb fundamentals, The Palm Glen Apartments offer stabilized asset and appealing long term investment opportunity. Contact us for complete Offering Memorandum.
Price
$6,700,000
Los Angeles
SR17234588
NEW LISTING
Description
We are pleased to introduce to you this rare opportunity to own 16 units in non- rent controlled Glendale, California. The Palm Glen apartments are a very well maintained asset boasting an extensive list of capital improvements over the years including upgrades to interior units. Detailed upgrades list in offering memorandum. Built in 1985, the assets incorporates central AC, subterranean parking and intercom/gated access. Offered already at in place CAP rate of 3.41% the asset also has 15% + loss to lease to further improve the NOI. Glendale has historically low vacancy factor and his in a supply constrained state of mid-sized assets. Situated North of Glenoaks Blvd, Palm Glen is in prime location of town. Walking distance to Elementary, Middle and High Schools. Tenants are within a couple minutes to Downtown Glendale shops and services. With the excellent location, condition and superb fundamentals, The Palm Glen Apartments offer stabilized asset and appealing long term investment opportunity. Contact us for complete Offering Memorandum.
Listing Information
Property Type: Cluster, 2 Story
0.28 Acres 11,990 sq.ft. $493.15
1985 2
16 Total
Neighborhood
Room Information
Common
Exterior / Lot Features
24 Parking Spaces, Assigned Parking Space
None
No Pool
GLR4*
Sidewalks, Street Lights
Driving Directions
North of Glenoaks Blvd, West of Pacific Ave, South of Kenneth Rd
Financial Considerations
5636002072
$361,860 Income ,$126,072Expense
Listing Price History

Glendale Real Estate

Glendale is located in California. Glendale, California 91202 has a population of 201,020.

The median household income in Glendale, California 91202 is $52,451. The median household income for the surrounding county is $55,870 compared to the national median of $53,482. The median age of people living in Glendale 91202 is 41 years.

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Courtesy: Levon Alexanian - Keller Williams World Media Ce Levon Alexanian
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