107 N Columbus Avenue

Glendale, CA 91203

$7,100,000

List Price

10

bed Beds

13

shower Baths

7,796 sqft

straighten / sqft

1925

calendar_month Built

Property Description

Graceland Apartments, located at 107 N. Columbus Avenue, is a charming 13-unit historic American Four Square building just one block from the Glendale Americana. The current owner has made over $1 million in strategic capital improvements, including upgrades to the electrical system, plumbing, and roofing. Spanning two parcels, the property offers a diverse mix of units: (2) 2-bedroom/1-bathroom, (6) 1-bedroom/1-bathroom, and (5) studios. With spacious floorplans, many units have been meticulously restored to cater to the area's strong tenant demand. A RUBS (Ratio Utility Billing System) program has been implemented across all units, boosting operational efficiency and allowing for a sub-30% expense ratio for future owners. The property also includes ten garages, currently generating rental income with the potential to be converted into three 2-bedroom/1-bathroom ADUs, each around 700 square feet. These ADUs could add approximately $34,605 in annual rental income. By capitalizing on market rent increases and investing in ADU construction, a new owner could see an impressive return on cost of up to 333%. ***Assumable Financing Available***

Listing Information

List Price $7,100,000
Status Active
MLS 25482897
Type Residential Income
Year Built 1925
Lot Size 9,452
Structure Size 7,796
Courtesy Of Dover Management Corp.
Listing Agent Douglas Steinriede DRE#00284936

Interior Features

Total Bedroom
Bedrooms 10
Total Bathroom
Bathrooms 13
Cooling Type
Cooling Type Electric

Exterior Information

Maps

Listing information courtesy of: Douglas Steinriede, Dover Management Corp. 818-843-5200. *Based on information from the Association of REALTORS/Multiple Listing as of Jan 23rd, 2025 at 7:54 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.