1134 ELM AVENUE
Property Description
KW Commercial, as the exclusive listing agents, are pleased to present 1134 Elm Avenue, a sixteen-unit apartment community in Glendale, California, built in 1987. The offering provides investors a unique opportunity to purchase a premium asset with strong income metrics in one of the strongest rental markets in LosAngeles.Glendale is attractive to prospective owners and renters a like. As it’s located in the City of Glendale, 1134 Elm Avenue is impacted by AB 1482, meaning Statewide rent control. Additionally, there is no ULA “MansionTax”. 1134 Elm Avenue was built in 1987 and boasts sixteen spacious apartment homes. It features an attractive unit composition of two (2) Four-Bedroom|Three-Bathroom units, two(2) Two-Bedroom|Two and a Half-Bathroom Townhome units, ten (10) Two-Bedroom|Two-Bathroom units, and two (2) One-Bedroom|One-Bathroom units. What makes the building and units so attractive are the amenities, precisely: fourteen of the sixteen units feature in-unit washer dryers, centralA/C, and at least one balcony. In fact, there is a whopping total of 22 balconies or sun decks. In all, 1134 Elm Avenue features 16,738 square feet of improvements on a collective 13,313 square feet of land, zoned GLR4. The property is separately metered for gas and electrical utilities.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Highest & best offer |
| Multifamily type: | Apartments |
| Price: | $8,250,000 |
| No. of Units: | 16 |
| Cap Rate: | 4.1% |
| GRM /GIM: | 16.5 |
| Year Built: | 1987 |
| Building Size: | 16,738 Sq ft |
| Lot Size: | 13,313.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $515,625 |
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