107 N Columbus Ave Active Save Request In-Person Tour Request Virtual Tour
Glendale,CA 91203
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 7,796 sqft
Price per Sqft $910
MLS Listing ID 25-482897
Bedrooms 10
Year Built 1925
Lot Size 9,452 Sqft
Property Sub-Type Multi-Family
Property Description
Graceland Apartments, located at 107 N. Columbus Avenue, is a charming 13-unit historic American Four Square building just one block from the Glendale Americana. The current owner has made over $1 million in strategic capital improvements, including upgrades to the electrical system, plumbing, and roofing. Spanning two parcels, the property offers a diverse mix of units: (2) 2-bedroom/1-bathroom, (6) 1-bedroom/1-bathroom, and (5) studios. With spacious floorplans, many units have been meticulously restored to cater to the area's strong tenant demand. A RUBS (Ratio Utility Billing System) program has been implemented across all units, boosting operational efficiency and allowing for a sub-30% expense ratio for future owners. The property also includes ten garages, currently generating rental income with the potential to be converted into three 2-bedroom/1-bathroom ADUs, each around 700 square feet. These ADUs could add approximately $34,605 in annual rental income. By capitalizing on market rent increases and investing in ADU construction, a new owner could see an impressive return on cost of up to 333%. ***Assumable Financing Available***
Location
State CA
County Los Angeles
Area Glendale-South Of 134 Fwy
Zoning GLC3*
Rooms
Other Rooms None
Interior
Heating Electric
Cooling Electric
Equipment Washer, Dryer
Exterior
Parking Features Attached, Garage Is Attached
Garage Spaces 10.0
Building
Story 2
Others
Special Listing Condition Standard