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4419 Pennsylvania Avenue

Glendale, CA 91214
  • $4,680,000
  • STATUS: Active
  • ON SITE: 26 Days
  • ID#: PW22159796
UPDATED: 39 min ago
$4,680,000
  • 0
    BEDS
  • 0.34
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS

School Ratings & Info

Listing Agent(s): Chris Keramati of Triqor Group (949-756-3232)


Description

We are pleased to present the Penn Plaza Apartments, a 13-unit apartment building in North Glendale. The property is comprised of thirteen two-bedroom units equipped with wall A/C units, gas wall heaters, ceiling fans, and carport parking. Most units have been upgraded with granite countertops and laminate wood flooring. Additionally, the property features a combination of tuck-under and carport parking. This is a well-kept building in a unique location of Glendale. With nearly 50% upside in rental income, this deal offers the opportunity for an investor to achieve nearly a 6% Cap Rate on market rents.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-16T18:40:19.19. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Massa & Associates Real Estate Group | eXp California Realty Inc. Licensed in the State of California, USA.
www.itsyourmovesandiego.com/homes/131097756
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4419 Pennsylvania Avenue Glendale, CA 91214

  • Price: $4,680,000
  • Status: Active
  • On Site: 26 Days
  • Updated: 39 min ago
  • ID#: PW22159796
0
Beds
0
Baths
0
½ Baths
0.34
Acres
1962
Built
Neighborhood:
635 - La Crescenta/Glendale Montrose & Annex
County:
Los Angeles
Area:
635 - La Crescenta/Glendale Montrose & Annex
Property Description
We are pleased to present the Penn Plaza Apartments, a 13-unit apartment building in North Glendale. The property is comprised of thirteen two-bedroom units equipped with wall A/C units, gas wall heaters, ceiling fans, and carport parking. Most units have been upgraded with granite countertops and laminate wood flooring. Additionally, the property features a combination of tuck-under and carport parking. This is a well-kept building in a unique location of Glendale. With nearly 50% upside in rental income, this deal offers the opportunity for an investor to achieve nearly a 6% Cap Rate on market rents.
Exterior Features

Lot Features Rectangular Lot Number Of Separate Electric Meters 13 Parking Total 0 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Common Walls 2+ Common Walls

Property Features

Additional Parcels YN No Common Interest None Community Features Sidewalks Electric Expense 0 Fuel Expense 0 Garage YN No Gross Income 249288 Gross Scheduled Income 249288 Insurance Expense 0 Land Lease YN No Laundry Features Common Area Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms Conventional Net Operating Income 155919 New Construction YN No Number Of Separate Gas Meters 13 Number Of Separate Water Meters 0 Operating Expense 85890 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 0 Vacancy Allowance Rate 3 Water Sewer Expense 0 Water Source Public Zoning Glr3yy



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-16T18:40:19.19. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Massa & Associates Real Estate Group | eXp California Realty Inc. Licensed in the State of California, USA.
 
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Massa & Associates Real Estate Group | eXp California Realty Inc
848 Prospect St
La Jolla CA, 92037
Listing Agent(s): Chris Keramati of Triqor Group (949-756-3232)