$2,100,000
We are pleased to present the opportunity to acquire 1542 E. Broadway, an 8-unit multifamily property located in the desirable Citrus Grove neighborhood of Glendale, California. Constructed in 1937, this beautifully maintained Spanish-style apartment building is comprised of eight one-bedroom/one-bathroom units with an average unit size of nearly 700 square feet. With one unit currently vacant, a new investor has the opportunity to immediately renovate and achieve market rent, while also capturing an additional 16% rental upside across the remaining units. The property features an on-site laundry room, separate meters for gas and electricity, and individual hot water heaters for each unit. Additionally, the property includes a detached carport and adjacent three-car private garage with side-street access, presenting a compelling opportunity for an investor to explore Accessory Dwelling Unit (ADU) development to significantly increase rental income and long-term property value (Buyer to verify). Situated south of E. Broadway, north of Colorado Boulevard, and west of S. Verdugo Road, the property offers convenient access to the 134 and 2 Freeways, providing commuters with direct connectivity to North Glendale, the San Gabriel Valley, and Downtown Los Angeles. The property is also located just minutes from the vibrant retail and dining corridors along Colorado Boulevard, as well as premier shopping destinations including the Americana at Brand and the Glendale Galleria. For students and faculty, the property is within proximity to Glendale Community College and Occidental College in nearby Eagle Rock, further supporting strong and consistent rental demand.
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with Marcus & Millichap (818) 212-2700
Property Type
Residential Income
Status
Active
MLS Number
26661137
Year Built
1937
Lot Size
8,093 sq ft