$12,500,000

Estimated payment $81,668/month

Total Views 4,149
54 Beds
50 Baths
27,165 Sq Ft
$460 Price per Sq Ft

Highlights

  • 0.6 Acre Lot
  • Herbert Hoover High School Rated A-
  • Laundry Room

About This Home

We are pleased to present 1160 Elm Avenue, a thirty-four-unit multifamily investment opportunity located in the Grandview neighborhood of Glendale. This value-add opportunity will be delivered with seven vacant units that will allow the next investor to captured significant rental upside through the implementation of an interior and exterior renovation program. Constructed in 1986, the asset comprises sixteen two-bedroom/one-and-half-bathroom units, four two-bedroom/one-bathroom units, and fourteen one-bedroom/one-bathroom units spread across four structures. All units have separate meters for gas and electricity, individual water heaters, and 60 AMPs of power. The property has gated entry, an on-site laundry room with two washers and two dryers, 56 parking spaces, and a vacant recreation room that is used as storage but can potentially be converted into an ADU. The property sits on a 26,325 square foot lot and is zoned R2250, making the existing thirty-four units irreplaceable with the current zoning. Situated just north of Glenoaks Blvd and east of Alameda Ave, 1160 Elm is within 2 miles of Burbank's Media City Center and less than 1 mile from IKEA. Glenoaks Blvd is a major thoroughfare that runs through Glendale, Burbank, Sun Valley, and into northeast San Fernando Valley. Tenants can benefit from a variety of retail and places of business along this corridor. Commuters are within five minutes from the nearest on-ramp to the I-5 Freeway, offering ease of access to the 134 Freeway, Burbank, Los Feliz, Atwater and Downtown Los Angeles.

Listing Agent

Sevak Keshishian

Marcus & Millichap License #01887505 Listed on: 05/02/2025

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1986

Lot Details

  • 0.6 Acre Lot

Parking

  • Covered Parking

Interior Spaces

  • 27,165 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Kitchen

  • Oven or Range
  • Disposal

Bedrooms and Bathrooms

  • 54 Bedrooms
  • 50 Bathrooms

Utilities

  • Cooling System Mounted In Outer Wall Opening
  • Heating System Mounted To A Wall or Window
  • Gas Water Heater

Listing and Financial Details

  • Assessor Parcel Number 5621-034-029

Community Details

Overview

  • 4 Buildings
  • 34 Units

Building Details

  • Vacancy Allowance $28,654

Property Details

Home Type

Multi-Family

Year Built

Built in 1986

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Levels: Two
  • Street Number Display: Yes
  • Living Area: 27165
  • Lot Acreage: 0.6045
  • Stories: 2
  • Year Built: 1986
  • Number Of Photos: 10
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 54
  • Laundry: Room
  • Total Bathrooms: 50.00
  • Equipment: Garbage Disposal, Range/Oven
  • Price Per S Q F T: 460.15

Exterior Features

  • Other Structures: None

Garage/Parking

  • Parking Garage: Covered Parking

Utilities

  • Water Heater: Gas
  • Cooling: Wall Unit(s)
  • Heating: Wall
  • Water Heaters: Yes

Lot Info

  • Assessed Improvement Percent: 58.77
  • Assessed Improvement Value: 3982784
  • Assessed Land Percent: 41.23
  • Assessed Land Value: 2794320
  • Total Assessed Value: 6777104
  • Assessor Parcel Number: 5621-034-029
  • Lot Size Area: 26333

Multi Family

  • Unit Type: 2106, 2107, 2108
  • Gross Rent Multiplier: 13.06
  • Number Of Units: 34
  • Total Annual Expense: 281218
  • Type Of Units: Standard
  • Vacancy Allow: 28654
  • Vacancy Allow Percent: 3.00
  • Vacancy Rate: 8

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/02/2025 05/02/25 For Sale $12,500,000 -- $460 / Sq Ft
Source: The MLS

Source: The MLS

MLS Number: 25533699

The MLS