421 E Acacia Avenue

Glendale, CA 91205

$2,625,000

Sold Price
16

bed Beds

8

shower Baths

6,206 sqft

straighten / sqft

1953

calendar_month Built

Property Description

Presented alongside the neighboring 427 E Acacia Avenue building, the two properties are available either individually or as a portfolio. The entire building consists of two bedroom apartments with rents ranging from $2,025 to $2,100, while similar properties are achieving rents above $2,700. A new investor may be able to capture the approximately 27% rent upside more rapidly as the property is granted higher allowable rent increases via AB 1482, when compared to other assets subject to Los Angeles rent control. The buildings are surrounded by attractive shopping and dining options. Mere blocks east, tenants can enjoy boutiques, coffeeshops, and restaurants in historic Adams Square. Several retailers and restaurants line both Glendale Avenue and Brand Boulevard, both major streets being within two blocks of the property. Less than one mile north are both the upscale Americana at Brand shopping center and the recently remodeled Glendale Galleria shopping mall.

Listing Information

Close Price $2,625,000
Close Date Friday, August 9th, 2024
Status Closed
MLS 24366386
Type Residential Income
Year Built 1953
Lot Size 10,211
Structure Size 6,206
DOM 151
Courtesy Of Marcus & Millichap
Listing Agent Roderick 'Rick' Raymundo DRE#01357019

Interior Features

Total Bedroom
Bedrooms 16
Total Bathroom
Bathrooms 8

Exterior Information

Maps

Listing information courtesy of: Roderick 'Rick' Raymundo, Marcus & Millichap . *Based on information from the Association of REALTORS/Multiple Listing as of Aug 15th, 2024 at 5:22 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.