107 North Columbus Avenue
$7,100,000
3
13
7,796
7,796
$911
Description
Graceland Apartments, located at 107 N. Columbus Avenue, is a 13-unit historic American Four Square asset, located one block from the Glendale Americana. Current ownership has spent over one million dollars on capital improvements, including new electrical system, plumbing, and roofs. Spread across two parcels, Graceland Apartments has a strong unit mix, comprised of (2) 2 BD/1 BA, (6) 1 BD/1 BA, and (5) studios. Boasting spacious floorplans, the majority of the units have been thoughtfully restored...Graceland Apartments, located at 107 N. Columbus Avenue, is a 13-unit historic American Four Square asset, located one block from the Glendale Americana. Current ownership has spent over one million dollars on capital improvements, including new electrical system, plumbing, and roofs. Spread across two parcels, Graceland Apartments has a strong unit mix, comprised of (2) 2 BD/1 BA, (6) 1 BD/1 BA, and (5) studios. Boasting spacious floorplans, the majority of the units have been thoughtfully restored to capitalize on the strong tenant base in the area. Current ownership has implemented a RUBS program across all units to improve operational efficiencies, allowing new ownership to operate the asset at a sub 30% expense ratio. Ten existing garages provide current income and also have the potential to be converted into (3) 2 BD/1 BA ADUs (approx. 700 SF each) for additional rental revenue of approximately $34,605 annually. Based on estimates, a new owner can achieve a return on cost of nearly 333%. by raising rents to market and investing into ADU construction.
- Listed by Robert Stepp • DRE #01456379 • Brokerage DRE #01499010 • Keller Williams - Santa Monica • 310-463-2916
Property Details for 107 North Columbus Avenue
Parking Spaces Total
10
Private PoolNo
Total Units13.0
Building TypeAttached
Lot Size SourceAssessor
Living Area7796
Assessor Parcel Number5637-015-023
Property Attached YNtrue
LISTING UPDATED: 10/29/2024 03:45 AM
Property Details for 107 North Columbus Avenue
Status | Active |
---|---|
MLS # | PW23169667 |
Days on Market | 408 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Mixed Use |
MLS Type | Residential Income |
Year Built | 1925 |
Lot Size | 0.22 AC / 9,449 SF |
County | Los Angeles County |
Building Information for 107 North Columbus Avenue
Stories2Residences-Year Built1925Building Size-Lot Size0.22 AC / 9,449 SF
Property Information for 107 North Columbus Avenue
Property History for 107 North Columbus Avenue
Date | Event & Source | Price | Appreciation |
---|
Date | Event & Source | Price |
---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 107 North Columbus Avenue
Taxable ValueLand$1,137,389Additions$1,724,176Total$2,861,565
Tax Record2024$32,227 ($2,686 / month)
Home Facts
Total Finished SqFt7,796 SqFtAbove Grade Finished SqFt7,796 SqFtLot Size9,449 SqFtStyleMulti-Family Res (5+ Units)Year Built1925ZoningGLC3*CountyLOS ANGELESAPN5637-015-023
Schools near 107 North Columbus Avenue
This home is within Glendale Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Public - | K to 6 |
Rating | School | Distance |
---|---|---|
Columbus Elementary School PublicK to 5 | ||
Eleanor J. Toll Middle School Public6 to 8 | ||
Herbert Hoover High School Public9 to 12 | ||
Thomas Edison 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.
Similar Homes
Sorry, we can't find any similar homes at this time. Please check back later.
Similar Sold Homes
Sorry, we can't find any similar sold homes at this time. Please check back later.