$2,950,000   ♡   Glendale, CA 91205 10 bed 10 bath 7,099 SqFt ($415/SqFt) 8,752SqFt lot. Built 1974 Listed 2023-12-18, Taxes $9,108 | Ⓧ USDA Ineligible due to price & location near Glendale |
Excellent opportunity to purchase an eight (8)
Unit apartment building with a significant upside in rental income. 311 E. Maple Street is an 8-unit multifamily property in the desirable southeast area of Glendale, CA. This property provides a tremendous opportunity for an investor to acquire pride in ownership of an asset that has been professionally managed and cared for. As its the first time in the market after 39 years of ownership, this is truly an irreplaceable asset to own. The property is a two-story building that was constructed in 1974 and consists of two large 2bed and 1.3/4bath units and six 1bed and 1bath units. Large roomy units (Buyer to verify the square footage if required). It also includes thirteen (13) parking spaces that include a combination of a private two (2) car garage, which is being used by the owner as storage currently, eleven (11) surface carport parking spaces, which are used by the tenants, a large on-site laundry room and minimal landscaping.
Most tenants are on a month-to-month basis and units are separately metered for gas and electricity. The property is within a short distance to multiple bus stops located on Glendale Avenue and Brand Boulevard, in addition to nearby retail shops and businesses. It provides tenants with ase of access to larger retail centers located at the Glendale Galleria, the Americana of Glendale and Atwater Village. Tenants also have easy access and proximity to the 134 and 5 Freeways. Buyers might explore the opportunity to convert the two-car private garage into an ADU, this could be a tremendous opportunity to boost future rental revenue and income stream, raising the overall value of the investment. Buyer to verify with the city for associated ADU conversion requirements. The roof was replaced/refinished in 2018 with TPO compound material and has a 20-year warranty. Newly painted building.
Presented by Vahik Beglarian at
Coldwell Banker Hallmark.
Property MLS #GD23226348 from CRMLS
Heating: Yes
Garage Spaces: 12
Parking Features: Parking YN: Yes, Parking Features: Assigned, Carport, Attached Carport, Detached Carport, Driveway, Garage - Two Door
Parking Total: 14
Lot Size Acres: 0.2009183
Lot Size Source: Assessor
Lot Size Square Feet: 8752
Bedrooms in Unit-1: 2
Bedrooms in Unit-2: 1
Bedrooms in Unit-3: 1
Bedrooms in Unit-4: 2
Bedrooms in Unit-5: 1
Bedrooms in Unit-6: 1
Bedrooms in Unit-7: 1
Bedrooms in Unit-8: 1
Total Bathrooms in Unit-1: 2
Total Bathrooms in Unit-2: 1
Total Bathrooms in Unit-3: 1
Total Bathrooms in Unit-4: 2
Total Bathrooms in Unit-5: 1
Total Bathrooms in Unit-6: 1
Total Bathrooms in Unit-7: 1
Total Bathrooms in Unit-8: 1
Unit-1 Garage Spaces: 2
Unit-2 Garage Spaces: 1
Unit-3 Garage Spaces: 1
Unit-4 Garage Spaces: 2
Unit-5 Garage Spaces: 1
Unit-6 Garage Spaces: 2
Unit-7 Garage Spaces: 1
Unit-8 Garage Spaces: 2
Gardener Expense: 1035.00
Maintenance Expense: 2000.00
Tenant Pays: Electricity, Gas
Rent Control: Yes
County: Los Angeles
Cap Rate: 4.86
Other Expense: 465.00
Source Property Type: Residential Income
Insurance Expense: 3935.00
Area: 628 - Glendale-South of 134 Fwy
Source Neighborhood: 628 - Glendale-South of 134 Fwy
New Taxes Expense: 36875.00
Number of Separate Electric Meters: 8
Number of Separate Gas Meters: 8
Number of Separate Water Meters: 8
Parcel Number: 5641010019
Pest Control Expense: 480.00
Postal Code Plus 4: 2136
Trash Expense: 4955.00
Zoning: GLR4
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $623,782 + $108,921 $732,703 | $9,108 |
| 2021 | $611,551 + $106,786 $718,337 | $8,926 |
| 2020 | $605,281 + $105,692 $710,973 | $8,805 |
| 2019 | $593,413 + $103,620 $697,033 | $8,612 |
| 2018 | $581,778 + $101,589 $683,367 | $8,356 |
| 2017 | $570,371 + $99,598 $669,969 | $8,193 |
| 2016 | $559,188 + $97,646 $656,834 | $7,880 |
| 2015 | $550,789 + $96,180 $646,969 | $7,732 |
| 2014 | $540,000 + $94,296 $634,296 | $7,720 |
| 2013 | $537,560 + $93,870 $631,430 | $7,556 |
| 2012 | $527,020 + $92,030 $619,050 | $7,462 |
| 2010 | $516,687 + $90,226 $606,913 | $7,111 |
| 2009 | $514,045 + $89,765 $603,810 | $7,176 |
| 2009 | $512,826 + $89,552 $602,378 | $7,176 |
| 2008 | $503,966 + $88,005 $591,971 | $7,032 |
| 2007 | $494,085 + $86,280 $580,365 | $6,883 |
$2,950,000
CRMLS
Price Changed 2024-02-02
$2,995,000
CRMLS
Listed 2023-12-18
$3,150,000
CRMLS
Sold 1983-08-31
$279,500
Public Record
Year Built: 1974
Building Features: 1
Common Walls: No Common Walls
Direction Faces: North
Entry Level: 1
Entry Location: street, driveway
Property Age: 50
Property Condition: Updated/Remodeled
Levels or Stories: One
Building Total Stories: 2
Structure Type: Apartment
Year Built Source: Assessor
Electric Expense: 1562.00
Sewer: Sewer: Public Sewer, Water Sewer Expense: 2000.00
Cable Connected
Electricity Available
Natural Gas Connected
Phone Connected
Sewer Connected
Water Connected
Water Source: Public
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.