1530 E Broadway

Glendale , CA 91205

MLS#: 23243867

$5,700,000

Status: Closed
Listing number: 23243867
Listing provided by: Marcus & Millichap
Listing agent phone: None
Last update: 1 year, 10 months ago
On site: 2 years ago
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Property

Beds

32

Full Baths

None

1/2 Baths

None

Year Built

1960

Sq.Footage

16,000

We are pleased to present 1530 E. Broadway, a 16-unit apartment building located in the Citrus Grove neighborhood of Glendale. Built in 1960, this well maintained asset is comprised of balanced unit mix that includes (4) 1bed/1bath, (4) 2bed/1bath, (4) 2bed/2bath, and (4) 3bed/2bath units. Many of the units have received upgrades over the years that include laminate flooring, stone countertops, renovated kitchen cabinetry, bathroom upgrades and new windows. The property has gated access, on-site laundry, and 10 parking spaces. The roof was replaced in 2015 and receives annual maintenance to preserve its integrity. Tenancy at the property has been very stable over the years and current rents are about 32% below market rates. A new investor will have the ability to achieve market rents through annual rental increases (5%+ CPI) and implementing unit renovations when vacancies arise. Located just east of Verdugo Road, 1530 E. Broadway is within walking distance to Glendale High School. Tenants of the property are within a short driving distance to the shops and restaurants at Glendale Galleria, & Americana on Brand. It's proximity to the 2 and 134 freeways allows for ease of access to multiple health care centers in the city along with neighboring cities such as Eagle Rock, Pasadena, Atwater Village, Burbank, Downtown Los Angeles, and many other.

Features & Amenities

Interior

  • Total Bedrooms

    32

  • Bathrooms

    N/A

  • Heating YN

    YES

  • Heating

    Wall Furnace

Exterior

  • Garage

    No

  • Pool

    No

Area & Lot

  • Lot Size(acres)

    0.3284

  • Property Type

    Residential Income

Price

  • Sales Price

    $5,700,000

  • Sq. Footage

    16, 000

  • Price/SqFt

    $356

HOA

  • Association

    NO

School District

  • Elementary School

    N/A

  • Middle School

    N/A

  • High School

    N/A

Property Features

  • Stories

    2

  • Senior Community YN

    NO

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Location

County

Los Angeles

Elementary School

Middle School

High School

Listing Courtesy of Sevak Keshishian , Marcus & Millichap

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We are pleased to present 1530 E. Broadway, a 16-unit apartment building located in the Citrus Grove neighborhood of Glendale. Built in 1960, this well maintained asset is comprised of balanced unit mix that includes (4) 1bed/1bath, (4) 2bed/1bath, (4) 2bed/2bath, and (4) 3bed/2bath units. Many of the units have received upgrades over the years that include laminate flooring, stone countertops, renovated kitchen cabinetry, bathroom upgrades and new windows. The property has gated access, on-site laundry, and 10 parking spaces. The roof was replaced in 2015 and receives annual maintenance to preserve its integrity. Tenancy at the property has been very stable over the years and current rents are about 32% below market rates. A new investor will have the ability to achieve market rents through annual rental increases (5%+ CPI) and implementing unit renovations when vacancies arise. Located just east of Verdugo Road, 1530 E. Broadway is within walking distance to Glendale High School. Tenants of the property are within a short driving distance to the shops and restaurants at Glendale Galleria, & Americana on Brand. It's proximity to the 2 and 134 freeways allows for ease of access to multiple health care centers in the city along with neighboring cities such as Eagle Rock, Pasadena, Atwater Village, Burbank, Downtown Los Angeles, and many other.

1530 E Broadway

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