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About the Listing X75151 - C126070
This stabilized asset features in-place rents approximately 10% below market, with Glendale's Rental Ordinance (aligned with statewide AB 1482 provisions) allowing annual increases of 5% + CPI. This positions an investor to capture the remaining upside relatively quickly through standard adjustments. Additional income streams include monthly laundry income and storage income from three larger on-site storage units. Built in 1986, the asset totals 10,700 square feet and includes six 1-bed/1-bath units, six 2-bed/1-bath units, and two larger 2-bed/1-bath units. Ten of the fourteen units have been upgraded with laminate flooring, modern appliances, quartz countertops, and in several cases split-system A/C. For investors looking to maximize cash flow, the property will be delivered with approved plans to convert the three storage units into two brand new 2-bedroom/1-bathroom ADUs, enabling the new owner to add nearly $60,000 in annual rental revenue. Additional features include gated and controlled access, separate gas and electric meters per unit, on-site laundry room, and gated parking. The 13,531-square-foot lot is zoned R2250, rendering the current 14-unit configuration irreplaceable under existing zoning this truly represents the highest and best use. Positioned just east of S. Glendale Avenue and one block south of E. Colorado Street, the property is less than a mile from both The Americana at Brand and the Glendale Galleria. It offers excellent proximity to major thoroughfares and sits in one of Glendale's most sought-after neighborhoods, prized for its walkability, local retail, and access to business and amenities.
Listing Highlights
Status
Active
Days on Site
27
Property Type
Multi-Family
MLS ®
26655543
Year Built
1986
Total Square Footage
10,700
Lot/Acreage
0.31
County
Los Angeles
Interior Details
- Bedrooms: 22
- Bathrooms: 14 Full
- Appliances:
- Air Cond:
- Heating:
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
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Exterior Details
- Garage Capacity: N/A
- Parking Spaces: 21
- Zoning: GLR4*
- Roof:
- Others:
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- Parking Features: Assigned
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: N/A
Payment Calculator
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Questions About..
629 E Elk Ave Glendale, CA 91205
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