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Glendale, CA 91201 1160 Elm Avenue

$12,900,000

1160 Elm Avenue Glendale, Ca - Image 11160 Elm Avenue Glendale, Ca - Image 21160 Elm Avenue Glendale, Ca - Image 3
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Presented By: Levon Alexanian with Keller Williams World Media Center; info@alexanianadvisors.com
  • MLS# SR24017647
  • 01/29/2024
  • Request Tour
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  • BedBeds • 54
  • BathFull/Half Baths • 3 / 1
  • FootageSQFT • 27,165

Home Details

$900,000 price reduction! Only $368K per door. 13.9 GRM 5.1% cap going in. We are pleased to be retained for this exclusive marketing assignment of the Elm Terraces in Glendale. This 34+1 n.c. unit apartment community is located in the most-sought rental pocket in all of the city, north of Glenoaks Blvd known as "El Miradero" / Grandview. The demand for rental housing in this pocket provides for historically low levels of vacancy and in turn premium in rental levels. The asset has been within the same family ownership for over 3 decades and presents an opportunity to unlock lock value by either loss to lease capture or a mild modernization update. Comprising mostly of 2+1.5 townhouse units, the Elm Terraces built in 1986, offers several key tenant amenities including individual hot water heaters, controlled intercom, and gated parking, ample parking, and storage. The walkability to a plethora of local shops, services, and cafes is a major benefit of living at the Elm Terraces.
Presented By: Levon Alexanian with Keller Williams World Media Center; info@alexanianadvisors.com

Interior Features for 1160 Elm Avenue

Other Interior Features

Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsItem1CommonWall
Electric On Property Y/NNo
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesCommonArea
Street SuffixAvenue
Total Stories2

Other Rooms

Entry Level2

General for 1160 Elm Avenue

Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate5.1
Carport Y/NNo
CityGlendale
Community FeaturesBiking, Curbs, Hiking
CountyLos Angeles
Days on Market70
DirectionsNorth of Glenoaks, 2 blocks east of Alameda
Electric Expense0.0
Entry Location.
Fuel Expense0.0
Garage Spaces0.0
Garage Y/NNo
Gross Income77005.0
HOA / Comm AssnNo
Home Warranty Y/NNo
Insurance Expense0.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsCash, CashtoNewLoan, Conventional
Lot Size Square Feet26333.0
MLS Area626 - Glendale-Northwest
MobileHomeRemainsYNNo
Net Operating Income650767.0
New ConstructionNo
Operating Expense254812.0
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 StatusActive
StatusActive
Stories2
Street NameElm
Tax Lot25
Total Units34
Trash Expense0.0
View Y/NNo
Water Sewer Expense0.0
Waterfront Y/NNo
Year Built1986
Year Built SourceAssessor
ZoningGLR4*

Exterior for 1160 Elm Avenue

Building Area Total27165.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesItem3135UnitsAcre
Lot Size Acres0.6045
Lot Size Area26333.0
Lot Size SourceAssessor
Lot Size UnitsSquareFeet
Number of Buildings4
Number of Separate Electric Meters35
Number of Separate Gas Meters35
Number of Separate Water Meters35
Open Parking Y/NNo
SpaNo
Total Parking0.0
Water SourcePrivate

Additional Details

Price History

1527188455

First Team Client Services

Price $12,900,000
MLS#SR24017647
List Date 01/29/2024
Property Type Multi-Family
Phone 714.964.3311
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CRMLS Compliance Statements & Disclaimers

*According to the National Association of Realtors