421 E Acacia Avenue, Glendale, CA 91205
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Sold Price :
$2,625,000
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Beds :
16
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Baths :
8
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Property Size :
6,206 sqft
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Year Built :
1953
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.
Interior Features
| Bedroom Information |
| Bedrooms |
16 |
| Bathroom Information |
| Bathrooms |
8 |
Listing Information
| Address |
421 E Acacia Avenue |
| City |
Glendale |
| State |
CA |
| Zip |
91205 |
| County |
Los Angeles |
| Listing Agent |
Roderick 'Rick' Raymundo DRE #01357019 |
| Courtesy Of |
Marcus & Millichap |
| Close Price |
$2,625,000 |
| Status |
Closed |
| Type |
Residential Income |
| Structure Size |
6,206 |
| Lot Size |
10,211 |
| Year Built |
1953 |
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.
