Property listed by Marcus & Millichap, Michael Sterman 818-212-2700
$6,150,000
We are pleased to present 1623 Victory Blvd, a 20 + 1unit apartment building located in Glendale, a neighborhood in the San Fernando Valley. Built in 1963,the property consists of (18) one-bedroom + one bathroom units, (1) one-bedroom + one-and-a-half bathroom units and (2) two-bedroom + two-bathroom units. The building… Read More is 13,786 gross square feet and sits on a 11,765 square foot lot. 1623 Victory Blvd is located on a charming, tree-lined street in Glendale. There is no shortage of activities to explore in the area. From shopping at the Burbank Town Center or Glendale Galleria to exploring Griffith Park and Stough Canyon, just a few miles away. Glendale lies at the eastern end of the San Fernando Valley, the location provides convenient access to the 134 and 5 freeways, further extending the area's connectivity to the rest of Los Angeles.1623 Victory Blvd represents a unique value-add opportunity for investors due to the property's location and rental upside. The property offers a initial CAP rate of 4.86% with the ability to improve to a 5.31%CAP rate once units turnover. Read Less
Listing Snapshot
Days Online
13
Last Updated
Property Type
Other
Beds
22
Square Ft.
13,786
Lot Size
0.27 Acres
Year Built
1963
MLS Number
25496797
30 Days Snapshot Of 91201
$1,477k
+16%
(avg) sold price
4
-33%
homes sold
56
-9%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1963, Building area total: 13,786, Levels: Two, Living area: 13786, 2 stories, 1 building
Income
Gross income: $502,512, Net operating income: $298,931
Lot
0.2701 acres, 11,765 square feet, Size: 11,765
Parking
18 totals parking, Covered
Property
Zoning: GLC3YY
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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