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Description
HIGHLIGHTS: Competitive offering actual In-place CAP Rate of 3.65% / ProForma CAP Rate of 4.49% will be achieved with all units paying market rent. / Gross monthly property wide rents are approximately 16% under market ($1,770/monthly). / Excellent unit mix of (4) large 2 bedroom 2 bathroom units (80%) & (1) oversized 3 bedroom 2 bathroom unit (20%). / The market rent for a 2 bedroom unit in Glendale is app. $2,250-$2,400 / The market rent for a 3 bedroom unit in Glendale is app $3,050-$3,200 / The property has a current GRM of 18.85 With a ProForma GRM of 16.24 / 100% occupied in 100% occupancy area. / The property is located just blocks for the Glendale Galleria. The Glendale Galleria is an expansive three-story regional shopping center. The 5-unit property is composed of Four (4) two-bedroom / two-bathroom units and One (1) three-bedroom / two-bathroom unit. The property was built in 1970 and features tuck-under onsite parking. The property is located just minutes from The Glendale Galleria (0.7 miles) & The Americana At Brand (0.8 miles).
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"All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information is deemed reliable but not guaranteed.
The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed."
Updated: 31st March, 2023 12:55 PM (UTC)
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information is deemed reliable but not guaranteed.
The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed."
Updated: 31st March, 2023 12:55 PM (UTC)
Listing Agent: ALBERT LE
Listing Office: LE INVESTMENT GROUP
