Active

107 N Columbus AVE

GLENDALE CA, 91203

$7,100,000


$910.72 per sqft

Active

3 Beds

7,796 sqft

Residential

Built in 1925

Graceland Apartments, located at 107 N. Columbus Avenue, is a 13-unit historic American Four Square asset, located one block from the Glendale Americana. Current ownership has spent over one million dollars on capital improvements, including new electrical system, plumbing, and roofs. Spread across two parcels, Graceland Apartments has a strong unit mix, comprised of (2) 2 BD/1 BA, (6) 1 BD/1 BA, and (5) studios. Boasting spacious floorplans, the majority of the units have been thoughtfully restored to capitalize on the strong tenant base in the area. Current ownership has implemented a RUBS program across all units to improve operational efficiencies, allowing new ownership to operate the asset at a sub 30% expense ratio. Ten existing garages provide current income and also have the potential to be converted into (3) 2 BD/1 BA ADUs (approx. 700 SF each) for additional rental revenue of approximately $34,605 annually. Based on estimates, a new owner can achieve a return on cost of nearly 333%. by raising rents to market and investing into ADU construction.

PW23169667MR

MLS ID

September 11, 2023

Listed

March 18, 2024

Updated

Map

107 N Columbus AVE
GLENDALE CA, 91203

Interior Features

Total Stories

2


Bedrooms

3 Beds


Laundry Description

Inside


Fireplace

No


Cooling

No


Heating

No

Exterior/Building Features

Lot Size

0.22 Acres


Sewer

Public Sewer

Other Property Details

Area Name

Glendale-South of 134 Fwy


Days on Market

98


Garage

Yes


Garage Spaces

10


Parking Total

10


View

No


County

Los Angeles


Water Source

Public


Pool

No


Pool Features

None


Zoning

GLC3*

Listed by Robert Stepp with Keller Williams - Santa Monica
Listing Contact: 310-774-3740 

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor SILVA HAMELINE | CA DRE# 00964974 shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2024 Combined L.A./Westside MLS. All rights reserved.

Data last updated 3/18/2024

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