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1160 Elm Avenue

Glendale, CA 91201
  • $13,800,000
  • STATUS: Active
  • ON SITE: 22 Days
  • ID#: SR24017647
UPDATED: 6 min ago
$13,800,000
  • 0
    BEDS
  • 0.6
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1986
County:

School Ratings & Info

Listing Agent(s): Levon Alexanian of Keller Williams World Media Center (818-239-3500)


Description

We are pleased to be retained for this exclusive marketing assignment of the Elm Terraces in Glendale. This 34+1 n.c. unit apartment community is located in the most-sought rental pocket in all of the city, north of Glenoaks Blvd known as "El Miradero" / Grandview. The demand for rental housing in this pocket provides for historically low levels of vacancy and in turn premium in rental levels. The asset has been within the same family ownership for over 3 decades and presents an opportunity to unlock lock value by either loss to lease capture or a mild modernization update. Comprising mostly of 2+1.5 townhouse units, the Elm Terraces built in 1986, offers several key tenant amenities including individual hot water heaters, controlled intercom, and gated parking, ample parking, and storage. The walkability to a plethora of local shops, services, and cafes is a major benefit of living at the Elm Terraces.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-02-21T16:38:24.927. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Lori Thompson | Coldwell Banker Realty. Licensed in the State of California, USA.
www.housesforsalesocal.com/homes/147039904
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1160 Elm Avenue Glendale, CA 91201

  • Price: $13,800,000
  • Status: Active
  • On Site: 22 Days
  • Updated: 6 min ago
  • ID#: SR24017647
0
Beds
0
Baths
0
½ Baths
0.6
Acres
1986
Built
Neighborhood:
626 - Glendale-Northwest
County:
Los Angeles
Area:
626 - Glendale-Northwest
Property Description
We are pleased to be retained for this exclusive marketing assignment of the Elm Terraces in Glendale. This 34+1 n.c. unit apartment community is located in the most-sought rental pocket in all of the city, north of Glenoaks Blvd known as "El Miradero" / Grandview. The demand for rental housing in this pocket provides for historically low levels of vacancy and in turn premium in rental levels. The asset has been within the same family ownership for over 3 decades and presents an opportunity to unlock lock value by either loss to lease capture or a mild modernization update. Comprising mostly of 2+1.5 townhouse units, the Elm Terraces built in 1986, offers several key tenant amenities including individual hot water heaters, controlled intercom, and gated parking, ample parking, and storage. The walkability to a plethora of local shops, services, and cafes is a major benefit of living at the Elm Terraces.
Exterior Features

Entry Level 2 Entry Location . Lot Features 31-35 Units/Acre Number Of Separate Electric Meters 35 Parking Total 0 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Common Walls 1 Common Wall

Property Features

Additional Parcels YN No Common Interest Community Apartment Community Features BikingCurbsHiking Electric Expense 0 Fuel Expense 0 Garage YN No Gross Income 76755 Gross Scheduled Income 921060 Insurance Expense 0 Land Lease YN No Laundry Features Common Area Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash to New LoanConventional Net Operating Income 921060 New Construction YN No Number Of Separate Gas Meters 35 Number Of Separate Water Meters 35 Operating Expense 264820 Property Sub Type Apartment Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 0 Water Sewer Expense 0 Water Source Private Zoning GLR4*



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-02-21T16:38:24.927. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Lori Thompson | Coldwell Banker Realty. Licensed in the State of California, USA.
 
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Lori Thompson | Coldwell Banker Realty
19440 Goldenwest Street
Huntington Beach CA, 92648
Listing Agent(s): Levon Alexanian of Keller Williams World Media Center (818-239-3500)