1055 Grover Avenue
$2,799,999
12
11
7,211
7,211
$388
Description
Unique and Prime investment opportunity 10 units in desirable Glendale Glenoaks area. Pride of ownership, Owns for about 50 years. Due to this long term ownership relationship with great tenants, the current rents have remained very low, leaving about 80% upside in rents Current rents are significantly below market, for 10 units totaling about $165,000 a year. One 3 bed 2 bath, Two 2 bed 1 bath, Five 1 bed 1 bath, Two single. The rents in the area for a 3 bedroom unit can be over $3,500, for 2 bed...Unique and Prime investment opportunity 10 units in desirable Glendale Glenoaks area. Pride of ownership, Owns for about 50 years. Due to this long term ownership relationship with great tenants, the current rents have remained very low, leaving about 80% upside in rents Current rents are significantly below market, for 10 units totaling about $165,000 a year. One 3 bed 2 bath, Two 2 bed 1 bath, Five 1 bed 1 bath, Two single. The rents in the area for a 3 bedroom unit can be over $3,500, for 2 bed $2800 and 1 bed $2100 a month. Some TLC on this property current rents can potentially go up about $267,000 a year. The property is centrally located for commutes, supermarkets, restaurants and schools . Driving distance downtown Los Angeles, Burbank, Montrose, Americana and Glendale Galleria, NOHO district, Old Town Pasadena, and the Rose Parade, JPL. Local LA and Hollywood attractions include the Music Center, Disney Music Hall, and Hollywood Bowl. This 10 units is truly one of a kind and great investment. Per seller, inside 6 units are updated, Has copper plumbing, newer water heater, walk way, all wall heaters and wall A/C’s, about 13 parking, Everything in this area sells quickly, priced right and will not last long in this market.
- Listed by Vartan Markarian • DRE #01059771 • Brokerage DRE #01059771 • Markarian Realty • MarkarianRealty@gmail.com
Property Details for 1055 Grover Avenue
Parking Spaces Total
13
Private PoolNo
Cooling TypeWall/Window
Total Units10.0
Lot Size SourceAssessor
Property Attached YNtrue
Common Walls1 Common Wall
New ConstructionNo
LISTING UPDATED: 09/08/2024 11:36 AM
Property Details for 1055 Grover Avenue
Status | Active |
---|---|
MLS # | GD24186109 |
Days on Market | 53 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1962 |
Lot Size | 0.18 AC / 7,741 SF |
County | Los Angeles County |
Building Information for 1055 Grover Avenue
Stories2Residences-Year Built1962Building Size-Lot Size0.18 AC / 7,741 SF
Property Information for 1055 Grover Avenue
Property History for 1055 Grover Avenue
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1055 Grover Avenue
Taxable ValueLand$50,397Additions$268,907Total$319,304
Tax Record2024$4,576 ($381 / month)
Home Facts
Total Finished SqFt7,211 SqFtAbove Grade Finished SqFt7,211 SqFtLot Size7,738 SqFtStyleMulti-Family Res (5+ Units)Year Built1962ZoningGLR4YYCountyLOS ANGELESAPN5623-031-015
Schools near 1055 Grover Avenue
This home is within Glendale Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 6 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Public - | K to 6 |
Rating | School | Distance |
---|---|---|
Thomas Jefferson Elementary School PublicK to 6 | ||
Eleanor J. Toll Middle School Public6 to 8 | ||
Herbert Hoover High School Public9 to 12 | ||
Benjamin Franklin Elementary School PublicK to 6 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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