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616 622 E Lomita Avenue

Glendale, CA 91205
  • $3,499,000
  • STATUS: Active
  • ON SITE: 232 Days
  • ID#: GD22214115
UPDATED: 32 min ago
$3,499,000
  • 0
    BEDS
  • 0.32
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
Built:
1931
County:

School Ratings & Info

Listing Agent(s): Sam Manoukian of Diversifiedpropertyinvestments (818-334-3451)


Description

An opportunity to purchase a completely renovated 8-unit Apartment Building next to a 3 Bedroom/1.5 Bath 1200+ house in the Highly Desirable City of Glendale. You can owner occupy the house and collect the income from the 8 units, or acquire it as a 9-unit investment with the possibility of future development. The current owner has preliminary plans for a 3-STORY 11-UNIT APARTMENT building development project. Please do not go on the property as the property is fully occupied by tenants. Offer subject to inspection. Contact the listing office with any questions.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2023-06-01T11:30:36.03. 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 deemed reliable but is not guaranteed accurate by the MLS or Team Forss Realty Group. Licensed in the State of California, USA.
www.teamforss.com/homes/133830163
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616 622 E Lomita Avenue Glendale, CA 91205

  • Price: $3,499,000
  • Status: Active
  • On Site: 232 Days
  • Updated: 32 min ago
  • ID#: GD22214115
0
Beds
0
Baths
0
½ Baths
0.32
Acres
1931
Built
Neighborhood:
628 - Glendale-South of 134 Fwy
County:
Los Angeles
Area:
628 - Glendale-South of 134 Fwy
Property Description
An opportunity to purchase a completely renovated 8-unit Apartment Building next to a 3 Bedroom/1.5 Bath 1200+ house in the Highly Desirable City of Glendale. You can owner occupy the house and collect the income from the 8 units, or acquire it as a 9-unit investment with the possibility of future development. The current owner has preliminary plans for a 3-STORY 11-UNIT APARTMENT building development project. Please do not go on the property as the property is fully occupied by tenants. Offer subject to inspection. Contact the listing office with any questions.
Exterior Features

Number Of Separate Electric Meters 9 Parking Features Electric Gate Parking Total 2 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Common Walls 2+ Common Walls

Property Features

Additional Parcels YN Yes Association Fee 0 Association YN No Cap Rate 5 Common Interest None Community Features SuburbanUrban Electric Expense 1584 Fuel Expense 1236 Garage YN Yes Gross Income 209376 Gross Scheduled Income 209376 Insurance Expense 2782 Land Lease YN No Laundry Features Common Area Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms Cash To New Loan Net Operating Income 175543 New Construction YN No Number Of Separate Gas Meters 9 Number Of Separate Water Meters 1 Number Of Units Leased 9 Operating Expense 33832 Possession Close Of Escrow Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays Cable TvElectricityGasTelephone Trash Expense 4800 Water Sewer Expense 7308 Water Source Public Zoning Glr4yy



Based on information from California Regional Multiple Listing Service, Inc. as of 2023-06-01T11:30:36.03. 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 deemed reliable but is not guaranteed accurate by the MLS or Team Forss Realty Group. Licensed in the State of California, USA.
 
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Team Forss Realty Group
31213 Temecula Parkway
Temecula CA, 92592
Listing Agent(s): Sam Manoukian of Diversifiedpropertyinvestments (818-334-3451)