Property listed by Marcus & Millichap, 818-212-2700
$2,100,000
Marcus & Millichap is pleased to present the opportunity to acquire 1542 E. Broadway, an 8-unit multifamily property located in the desirable Citrus Grove neighborhood of Glendale, California. Constructed in 1937, this beautifully maintained Spanish-style apartment building is comprised of eight one-bedroom/one-bathroom units with an average unit size of nearly… Read More 700 square feet. With one unit currently vacant, a new investor has the opportunity to immediately renovate and achieve market rent, while also capturing an additional 16% rental upside across the remaining units. The property features an on-site laundry room, separate meters for gas and electricity, and individual hot water heaters for each unit. Additionally, the property includes a detached carport and adjacent three-car private garage with side-street access, presenting a compelling opportunity for an investor to explore Accessory Dwelling Unit (ADU) development to significantly increase rental income and long-term property value (Buyer to verify). Situated south of E. Broadway, north of Colorado Boulevard, and west of S. Verdugo Road, the property offers convenient access to the 134 and 2 Freeways, providing commuters with direct connectivity to North Glendale, the San Gabriel Valley, and Downtown Los Angeles. The property is also located just minutes from the vibrant retail and dining corridors along Colorado Boulevard, as well as premier shopping destinations including the Americana at Brand and the Glendale Galleria. For students and faculty, the property is within proximity to Glendale Community College and Occidental College in nearby Eagle Rock, further supporting strong and consistent rental demand. Read Less
Listing Snapshot
Days Online
3
Last Updated
Beds
8
Square Ft.
5,484
Lot Size
0.19 Acres
Year Built
1937
MLS Number
26661137
Additional Details
Appliances & Equipment
Refrigerator
Building
Built in 1937, Living area: 5484.0, 2 buildings, Levels: Two
Garage
3 spaces
Income
Gross Income: $176,940, Net Operating Income: $117,326
Lot
0.1858 acres, Dimensions: 54x150
Parking
3 carport spaces, 6 total parking spaces, DoorMulti, DetachedCarport, Garage
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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