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Glendale, CA 91203 456 Myrtle Street

$8,480,000

Pending
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Presented By: Olga Wright with Lyon Stahl Investment Real Estate, Inc.; 3108017373
  • MLS# SB24064234
  • 04/03/2024
  • Request Tour
  • Request Info
  • BedBeds • 36
  • BathBaths • 4
  • FootageSQFT • 20,392
  • GarageGarage • 20

Home Details

Nestled in a prime location, this pride of ownership property is offering an exceptional unit mix of 18 spacious two-bedroom / two-bathroom units, with five units featuring an additional den. All units have individual water heater and in-unit washer/dryer. Built in 1989, this property is subject to State Rent Control AB 1482 which allows for 8.8% annual rent increases. Opportunity to legalize three existing ADU 0+1 units offering additional streams of income and maximizing the property's investment potential making it a 21-unit building. Property is equipped with Intercom access and gated secure parking, providing residents with peace of mind and ease of access. **There is an assumable $4M Chase loan at an attractive interest rate of 3.15%, maturing on April 20, 2026.** This meticulously maintained property, coupled with its prime location, attractive unit mix, potential for additional income, and favorable financing options, presents an outstanding investment opportunity in Glendale’s vibrant real estate market.
Presented By: Olga Wright with Lyon Stahl Investment Real Estate, Inc.; 3108017373

Interior Features for 456 Myrtle Street

Other Interior Features

Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsItem2CommonWalls
Electric On Property Y/NNo
Fireplace Y/NNo
Heating Y/NYes
Laundry FeaturesWasherHookup, GasDryerHookup
Street SuffixStreet
Total Stories3

Other Rooms

Entry Level1

General for 456 Myrtle Street

Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate4.32
Carport Y/NNo
CityGlendale
Community FeaturesCurbs, Sidewalks, Urban
CountyLos Angeles
Days on Market7
DirectionsSouth of FWY134, east of Pacific Ave
Electric Expense0.0
Entry Location1
Expected Active Date 2024-04-05
Fuel Expense0.0
Garage Spaces20.0
Garage Y/NYes
Gross Income570012.0
HOA0.0
HOA / Comm AssnNo
HeatingWallFurnace
Home Warranty Y/NNo
Insurance Expense17300.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsThreeOrMore
Listing TermsCashtoNewLoan
Lot Size Square Feet13555.0
MLS Area628 - Glendale-South of 134 Fwy
MaintenanceExpense9900.0
MobileHomeRemainsYNNo
Net Operating Income366052.0
New ConstructionNo
Number of Units Leased17
Operating Expense188060.0
Pool FeaturesNone
Private PoolNo
Property Attached Y/NYes
Property Sub Type AdditionalApartment
Property SubTypeApartment
Property TypeResidentialIncome
Rent Control Y/NNo
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusPending
StatusPending
Street NameMyrtle
Tax Lot94
Taxes$91,584
Tenant PaysElectricity, Gas
Total Units18
Trash Expense9648.0
View Y/NNo
Water Sewer Expense15600.0
Waterfront Y/NNo
Year Built1989
Year Built SourceAssessor
ZoningGLR4YY

Exterior for 456 Myrtle Street

Building Area Total20392.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesRectangularLot
Lot Size Acres0.3112
Lot Size Area13555.0
Lot Size SourceAssessor
Lot Size UnitsSquareFeet
Number of Buildings1
Number of Separate Electric Meters19
Number of Separate Gas Meters19
Number of Separate Water Meters1
Open Parking Y/NNo
Parking FeaturesCovered, Garage, OnSite
SpaNo
Total Parking20.0
Water SourcePublic

Additional Details

Price History

1527188455

First Team Client Services

Price $8,480,000
MLS#SB24064234
List Date 04/03/2024
Property Type Pending
Phone 714.964.3311
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CRMLS Compliance Statements & Disclaimers

*According to the National Association of Realtors