2520 Montrose Avenue, Montrose, CA 91020
- $2,595,000
- List Price
- $2,595,000
- Status
- ACTIVE
- MLS#
- GD26136915
- Year Built
- 1947
- Lot Size
- 10,303
- Acres
- 0.24
- Days on Market
- 36
- Property Type
- Multifamily
- Property Sub Type
- Mixed Use
- Stories
- One Level
- Neighborhood
- Not Applicable-105
Property Description
2520 Montrose Ave, Montrose, CA 91020 – Rare Value-Add Multifamily with Assumable Low-Rate Financing 3.64% Exceptional investment opportunity in tightly held Montrose. Charming 1947 3-structure property on a large 10,303 sq ft lot (LCR3 zoning, APN 5807-016-046) offers timeless architecture, strong income, and major upside. Blocks from Honolulu Ave shops/dining. Appx 5,502 sq ft (buyer verify), 11 units (mostly 1BD/1BA + 2BD owner’s w/ patio/garage). 8 parking, master metered. Proven Income + Huge Upside: Current 2026 rent roll: $17,177/mo ($206,124 annually). Vacant Unit gutted basement projected at $2,000/mo Stabilized Gross: Appx. $230,124/year. GRM at $2,595,000 list: 11.28 (excellent for value-add). Game-Changing Financing: Huge opportunity to assume existing loan at 3.64% (through November 2028). Creates significant positive cash flow from day one while executing value-add and ADU conversions—locking in low-cost capital in today’s rate environment. Massive Growth Potential: ADUs: Up to 3 additional units via conversions of existing space (basement + subdivided areas) per CA/LA County rules. Large lot supports future condo development/density. Upgrade units for market rents + legalize non-conforming for transformative returns. Units lease fast here. Premier Location & Schools: Top-rated Glendale Unified (Crescenta Valley HS A+, excellent elementaries). Perfect for families/long-term tenants. Amazing Opportunity at $2,595,000: Immediate cash flow via assumable low-rate loan, rapid leasing, beautiful architecture, and layered upside rarely found in Montrose. Buyer verify all. Contact for tour, rent roll, pro forma, loan assumption details & ADU plan. Move fast—this won’t last!
Additional Information
- Pool Description
- None
- Heat
- Natural Gas, Wall Furnace
- Cooling
- Yes
- Cooling Description
- Dual, Wall/Window Unit(s)
- Garage Spaces Total
- 1
- Sewer
- Public Sewer
- Water
- Public
- Interior Features
- Ceiling Fan(s)
- Attached Structure
- Attached
- Number Of Units Total
- 11
- Gross Scheduled Income
- $206,124
- Operating Expense
- 65450
Listing courtesy of Listing Agent: Arthur Chalekian (arthur@ikonpropertiesla.com) from Listing Office: Equity Union.
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Based on information from California Regional Multiple Listing Service, Inc. as of . 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.