Active

1134 Elm Avenue

Glendale CA, 91201

$8,250,000


$492.89 per sqft

Active

34 Beds

34 Baths

16,738 sqft

Residential

Built in 1987

Listed by Nick Astrupgaard with KW Commercial Studio City 818-432-1500

We are pleased to present 1134 Elm Avenue, a sixteen-unit apartment community in Glendale, California, built in 1987. The offering provides investors with a unique opportunity to purchase a premium asset with strong income metrics in one of the strongest rental markets in Los Angeles along with an attractive assumable loan. Glendale is attractive to prospective owners and renters alike. As it's located in the City of Glendale, 1134 Elm Avenue is impacted by AB 1482, meaning Statewide rent control. Additionally, there is no ULA "Mansion Tax". 1134 Elm Avenue was built in 1987 and boasts sixteen spacious apartment homes. It features an attractive unit composition of two (2) Four-Bedroom | Three-Bathroom units, two (2) Two-Bedroom | Two and a Half-Bathroom Townhome units, ten (10) Two-Bedroom | Two-Bathroom units, and two (2) One-Bedroom | One-Bathroom units. What makes the building and units so attractive are the amenities, precisely: fourteen of the sixteen units feature in-unit washer dryers, central A/C, and at least one balcony. There is a whopping total of 22 balconies or sundecks. In all, 1134 Elm Avenue features 16,738 square feet of improvements on a collective 13,313 square feet of land, zoned GLR4. The property is separately metered for gas and electrical utilities. While all the units stand out in size and design, 1134 Elm Avenue boasts two Four-Bedroom Townhome Units and two 2 Bedroom Townhomes, ideal for families or those working for home. The Four Bedroom units showcase four separate balconies, high ceilings, ensuite bathrooms, and in-unit washer/dryers. The Two Bedroom Townhomes feature private sundecks, perfect for gatherings or taking in mountain and city views, high ceilings, ensuite bathrooms, and in-unit washer/dryers. The property has seen significant updates over the years, and an updated roof in 2019. Six units have received updated kitchens, along with new/modern lighting, flooring, and bathroom updates throughout the property. The property offers enhanced security and convenience for tenants. It's fully gated with automated, subterranean parking. Fourteen of the sixteen units have two parking spaces, and the 1-Bedroom units have one space -- 30 parking spaces in all. As you approach the property from the street, there's a secure, gated entry with an intercom, and an inviting courtyard welcomes you. Tenants benefit from enhanced security with security cameras throughout the property. The location is in the heavily sought-after Glendale sub-market. 1134 Elm Avenue borders the City of Burbank and is immediately adjacent to IKEA and Downtown Burbank. Residents are also located in the highly desirable Glendale Unified School District. The location is near many favorable shopping and dining destinations and boasts a Walk Score of 85, deemed "Very Walkable" by Walkscore.com. Elm Avenue is in close proximity to major studios and just a short drive from neighboring primary employers in Hollywood and Downtown Los Angeles.

23319781

MLS ID

October 10, 2023

Listed

March 28, 2024

Updated

Map

1134 Elm Avenue
Glendale CA, 91201

Interior Features

Total Stories

3


Bedrooms

34 Beds


Bathrooms

34 Baths


Fireplace

No


Cooling

Yes


Cooling Description

Central Air


Heating

Yes


Heating Description

Central

Exterior/Building Features

Lot Size

0.31 Acres

Other Property Details

Area Name

626 - Glendale-Northwest


Days on Market

136


Garage

No


Parking

Underground


Parking Total

30


View

No


County

Los Angeles


Pool

No


Zoning

GLR4*


Buyer Agency Compensation

1.5%

Listing Contact: 818-432-1500 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 3/28/2024. 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, the 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. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 3/28/2024 at 3:15 PM UTC

 

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