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Listed by Levon Alexanian, DRE #00911091 • Keller Williams World Media Center
$2,150,000
Est. payment /mo
6,344 Sqft Lot
Pending
354 W Elk AVE Glendale, CA 91204
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Key Details
Property Type Commercial
Listing Status Pending
Purchase Type For Sale
MLS Listing ID CNSR22241201
Year Built 1946
Lot Size 6,344 Sqft
Source CRISNet
Property Description
$100,000 price reduction... We are pleased to introduce a rare opportunity to acquire a TRUE walk to Americana & Galleria investment opportunity. Elk Americana is comprised of 6 units which are all renovated. Situated just 1 block from both, this 6 unit offering awards tenants the utmost walkability with a Walk Score of 91! The current ownership has done an astute job of renovating units to modern amenity finishes which complements the craftsman styled feel of the property. Due to the property's unique aesthetic and proximity to downtown Glendale, vacancy is either non-existent or quickly absorbed. New ownership can continue to run this ease of management asset while capturing loss to lease with minimal effort. Rear building was repipied in 2019. Offered at a very attractive in-place CAP rate of 4.35% and 15.7 GRM, that asset at market rents will provide 5.02% CAP and 14.1 GRM, hard to find metrics in the Gem City. ** Contact listing agent for offering memorandum **
Location
State CA
County Los Angeles
Area 628 - Glendale-South Of 134 Fwy
Interior
Laundry Laundry Area
Exterior
Garage Spaces 2.0
Pool None
Building
Water District - Public
Others
Tax ID 5696005015
Special Listing Condition Not Applicable
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