$5,550,000
Located at 447 W Elk Ave in Glendale, CA, this well-maintained 16-unit apartment community offers investors a stabilized multifamily asset in one of Los Angeles County's most desirable rental submarkets. COnstructed in 1964, the +/-12,704 square foot building features a diverse unit mix comprised of (8) one-bedroom/one-bathroom units, (4) two-bedroom/one-and-a-half bath units, and (4) two-bedroom/two-bath units, catering to a broad tenant demographic. Ownesrhip has managed the property effectively, and current operations reflect performance near market rents, providing immediate income with potential for incremental upside. Situated in a convenient Glendale location, the property benefits from proximity to major employment hubs, retail corridors, and entertainment destinations throughout Glendale and neighboring Burbank. Residents enjoy easy access to The Americana at Brand, Glendale Galleria, and a wide variety of dining options, while commuters benefit from close connectivity to the 5 and 134 freeways. The surrounding neighborhood offers a strong blend of urban convenience and residential appeal, making this property an attractive option for long-term renters seeking quality housing in a high-demand market.
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Listed by Daniel Withers with Matthews Real Estate Investment Services (866) 889-0550
Property Type
Residential Income
Status
Active
MLS Number
26657803
Year Built
1964
Lot Size
0.29 acres