107 N Columbus Avenue

Glendale , CA 91203

MLS#: 25482897

$7,100,000

Status: Active
Listing number: 25482897
Listing provided by: Dover Management Corp.
Listing agent phone: None
Last update: a month ago
On site: 6 months ago
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Property

Beds

10

Full Baths

None

1/2 Baths

None

Year Built

1925

Sq.Footage

7,796

Graceland Apartments, located at 107 N. Columbus Avenue, is a charming 13-unit historic American Four Square building just one block from the Glendale Americana. The current owner has made over $1 million in strategic capital improvements, including upgrades to the electrical system, plumbing, and roofing. Spanning two parcels, the property offers a diverse mix of units: (2) 2-bedroom/1-bathroom, (6) 1-bedroom/1-bathroom, and (5) studios. With spacious floorplans, many units have been meticulously restored to cater to the area's strong tenant demand. A RUBS (Ratio Utility Billing System) program has been implemented across all units, boosting operational efficiency and allowing for a sub-30% expense ratio for future owners. The property also includes ten garages, currently generating rental income with the potential to be converted into three 2-bedroom/1-bathroom ADUs, each around 700 square feet. These ADUs could add approximately $34,605 in annual rental income. By capitalizing on market rent increases and investing in ADU construction, a new owner could see an impressive return on cost of up to 333%. ***Assumable Financing Available***

Features & Amenities

Interior

  • Total Bedrooms

    10

  • Bathrooms

    N/A

  • Cooling YN

    YES

  • Cooling

    N/A

  • Heating YN

    YES

  • Heating

    Electric

Exterior

  • Garage

    Yes

  • Garage spaces

    1

  • Parking

    Attached

  • Pool

    No

Area & Lot

  • Lot Size(acres)

    0.217

  • Property Type

    Residential Income

Price

  • Sales Price

    $7,100,000

  • Sq. Footage

    7, 796

  • Price/SqFt

    $910

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

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Listing Courtesy of Douglas Steinriede , Dover Management Corp.

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Graceland Apartments, located at 107 N. Columbus Avenue, is a charming 13-unit historic American Four Square building just one block from the Glendale Americana. The current owner has made over $1 million in strategic capital improvements, including upgrades to the electrical system, plumbing, and roofing. Spanning two parcels, the property offers a diverse mix of units: (2) 2-bedroom/1-bathroom, (6) 1-bedroom/1-bathroom, and (5) studios. With spacious floorplans, many units have been meticulously restored to cater to the area's strong tenant demand. A RUBS (Ratio Utility Billing System) program has been implemented across all units, boosting operational efficiency and allowing for a sub-30% expense ratio for future owners. The property also includes ten garages, currently generating rental income with the potential to be converted into three 2-bedroom/1-bathroom ADUs, each around 700 square feet. These ADUs could add approximately $34,605 in annual rental income. By capitalizing on market rent increases and investing in ADU construction, a new owner could see an impressive return on cost of up to 333%. ***Assumable Financing Available***

107 N Columbus Avenue

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