Property listed by Andy Anubhav Kawatra, Andy Anubhav Kawatra 818-456-7846
$2,800,000
Located in the heart of Glendale, California, 1004 E Garfield Avenue presents a rare opportunity to acquire an 8-unit multifamily asset in one of the region's most desirable and supply-constrained rental markets. Built in 1987, the property consists entirely of spacious two-bedroom units and encompasses approximately 7,578 square feet of… Read More improvements situated on an 8,276-square-foot lot. Its attractive unit mix, strong residential appeal, and convenient location provide investors with a stable income-producing asset positioned for long-term growth. The property is currently offered at $2,800,000, representing approximately $350,000 per unit and $369 per square foot. With an in-place cap rate of approximately 5.50%and a current gross rent multiplier (GRM) of 11.90, the asset delivers immediate cash flow while maintaining meaningful upside through continued rent growth. The building's larger unit configurations and favorable vintage compare well against recent multifamily sales in the surrounding Glendale submarket, supporting the offering's competitive positioning . Glendale continues to benefit from a diverse employment base, excellent school systems, and strong connectivity to major employment centers throughout Los Angeles. Residents enjoy close proximity to Downtown Glendale, The Americana at Brand, Glendale Galleria, major transportation corridors, and a wide array of dining, retail, and entertainment amenities. These factors have contributed to sustained renter demand, low vacancy levels, and consistent rental appreciation, making the market attractive to both private and institutional investors. 1004 E Garfield Avenue represents an ideal acquisition for investors seeking a combination of stable in-place income, durable fundamentals, and future appreciation potential. The property's desirable all two-bedroom unit mix, strong Glendale location, and opportunity to capture additional revenue through market rent growth position it as a compelling investment opportunity in one of Southern California's most resilient multifamily markets. Read Less
Listing Snapshot
Days Online
0
Last Updated
Beds
16
Square Ft.
7,578
Lot Size
0.2 Acres
Year Built
1987
MLS Number
26853505
Additional Details
Appliances & Equipment
Dishwasher
Building
Built in 1987, Living area: 7578.0, 1 building, Levels: MultiSplit
Cooling
CentralAir
Heating
Central
Income
Gross Income: $235,260, Net Operating Income: $153,952
Lot
0.1966 acres, Dimensions: 47x177
Parking
Assigned, DetachedCarport
Taxes
Parcel Number: 5675030031, Zoning: GLR4YY
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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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