615 S Columbus Avenue

Glendale , CA 91204

MLS#: 25483003

$6,400,000

Status: Active
Listing number: 25483003
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

12

Full Baths

None

1/2 Baths

None

Year Built

1923

Sq.Footage

8,620

Glendale Court Bungalows, located at 615 S. Columbus Avenue, is a beautifully restored 13-unit California bungalow-style courtyard property, just five blocks from the Glendale Americana. The current owner has invested over $700,000 in capital improvements, including upgrades to electrical systems, plumbing, and exterior features. The property consists of 12 one-bedroom/one-bath units and one studio, all of which have been meticulously renovated to meet the strong tenant demand in the area. A Ratio Utility Billing System (RUBS) has been implemented across all units, boosting operational efficiency and ensuring a sub-30% expense ratio for future ownership. The property also offers eight garages and five surface parking spaces, currently generating income. The garages present a potential opportunity for conversion into three ADUs (Accessory Dwelling Units), which could generate an estimated $34,605 in additional annual rental income. With further investment in ADU construction and adjustments to market rents, a new owner could achieve an impressive return on cost of nearly 270%. ***Assumable financing is available at 5.18%, with 5 years of fixed financing, including 2 years of interest-only payments remaining.***

Features & Amenities

Interior

  • Total Bedrooms

    12

  • Bathrooms

    N/A

  • Cooling YN

    YES

  • Cooling

    Electric

  • Heating YN

    YES

  • Heating

    Electric

Exterior

  • Garage

    Yes

  • Garage spaces

    8

  • Pool

    No

Area & Lot

  • Lot Size(acres)

    0.4269

  • Property Type

    Residential Income

Price

  • Sales Price

    $6,400,000

  • Sq. Footage

    8, 620

  • Price/SqFt

    $742

HOA

  • Association

    NO

School District

  • Elementary School

    N/A

  • Middle School

    N/A

  • High School

    N/A

Property Features

  • Stories

    1

  • Senior Community YN

    NO

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Location

County

Los Angeles

Elementary School

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Listing Courtesy of Douglas Steinriede , Dover Management Corp.

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Glendale Court Bungalows, located at 615 S. Columbus Avenue, is a beautifully restored 13-unit California bungalow-style courtyard property, just five blocks from the Glendale Americana. The current owner has invested over $700,000 in capital improvements, including upgrades to electrical systems, plumbing, and exterior features. The property consists of 12 one-bedroom/one-bath units and one studio, all of which have been meticulously renovated to meet the strong tenant demand in the area. A Ratio Utility Billing System (RUBS) has been implemented across all units, boosting operational efficiency and ensuring a sub-30% expense ratio for future ownership. The property also offers eight garages and five surface parking spaces, currently generating income. The garages present a potential opportunity for conversion into three ADUs (Accessory Dwelling Units), which could generate an estimated $34,605 in additional annual rental income. With further investment in ADU construction and adjustments to market rents, a new owner could achieve an impressive return on cost of nearly 270%. ***Assumable financing is available at 5.18%, with 5 years of fixed financing, including 2 years of interest-only payments remaining.***

615 S Columbus Avenue

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