Description
7 Renovated Units in Prime Glendale cash flowing at an amazing 4.7% Cap Rate and 14.8 GRM from Day 1. Attractive Assumable Financing at only a 4.4% interest rate, $1,670,000 fixed for 5 years. Priced at only 399k/door for fully renovated units with top-of-the-line finishes and features such as in-unit washer and dryer, stainless steel appliances, recessed lighting, fully remodeled kitchens with modern cabinets, and renovated bathrooms with floating vanities! All units are individually metered for electricity and gas. Preliminary plans to add 2 Detached ADUs in the back for future upside. Large 8,294 SF lot with carport parking in the back. Rare opportunity to purchase a cash-flowing building with an upside to a 5.4% Cap Rate and 13.3 GRM on proforma with assumable financing at only a 4.4% interest rate. This bundle of benefits is hard to find in today's market. The property is in a quiet Glendale neighborhood South of the 5 freeway and bordering the city of Burbank. It is in close proximity to the Disney Studios, Downtown Burbank, Downtown Glendale, 5 & 134 freeways!
Location
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Listing Agent: Julio Ruiz
Listing Office: Global Platinum Properties, Inc.
