935 N Louise Street, Glendale, CA 91207
- $2,925,000
- List Price
- $2,925,000
- Status
- ACTIVE
- MLS#
- P1-28892
- Year Built
- 1955
- Lot Size
- 13,534
- Acres
- 0.31
- Lot Location
- 0-1 Unit/Acre, Sprinklers In Front, Lawn, Sprinklers On Side
- Days on Market
- 3
- Property Type
- Multifamily
- Stories
- Two Levels
- Neighborhood
- Not Applicable
Property Description
Exceptional 10-Unit Multifamily Investment Opportunity in Glendale! Located at 935 N. Louise Street, this well-positioned apartment building features a highly desirable unit mix of ten 2-bedroom/1-bath residences, offering an excellent combination of existing income and significant value-add potential.The property has benefited from substantial capital improvements, including new electrical panels and rewiring, copper plumbing and new main water lines, and new asphalt, helping reduce major infrastructure concerns for the next owner. Additional amenities include 10 carport parking spaces with overhead storage and on-site laundry.A major highlight is that 3 of the 10 units are currently vacant, providing a new owner with the opportunity to renovate and reposition these units immediately. Current estimated market rents for renovated 2-bedroom units are approximately $2,400-$2,500 per month, presenting meaningful upside potential. The remaining seven units provide an existing income base, with current rents ranging from approximately $1,565 to $2,175 per month.Centrally located in Glendale, CA, with convenient access to shopping, dining, employment centers, transportation and the surrounding Los Angeles communities. This is a compelling opportunity for an investor seeking a well-located multifamily asset with immediate renovation potential, existing cash flow and long-term rental upside.Three vacant units + major building system upgrades + 10 parking spaces + an all 2BR unit mix make this a property worth a closer look.
Additional Information
- Appliances
- Free-Standing Range, Water Heater
- Pool Description
- None
- Heat
- Natural Gas, Wall Furnace
- Cooling
- Yes
- Cooling Description
- Wall/Window Unit(s)
- View
- None
- Exterior Construction
- Drywall
- Roof
- Composition
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Detached
- Number Of Units Total
- 10
- Gross Scheduled Income
- $240,792
- Operating Expense
- 23153
Listing courtesy of Listing Agent: Jose Chaparro (cheppe@jpmchomes.com) from Listing Office: Jenkins Properties.
Mortgage Calculator
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.