107 N Columbus Avenue, Glendale, CA 91203
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Listed Price :
$7,100,000
-
Beds :
10
-
Baths :
13
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Property Size :
7,796 sqft
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Year Built :
1925
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***
Interior Features
| Bedroom Information |
| Bedrooms |
10 |
| Bathroom Information |
| Bathrooms |
13 |
| Interior Information |
| Cooling Type |
Electric |
Listing Information
| Address |
107 N Columbus Avenue |
| City |
Glendale |
| State |
CA |
| Zip |
91203 |
| County |
Los Angeles |
| Listing Agent |
Douglas Steinriede DRE #00284936 |
| Courtesy Of |
Dover Management Corp. |
| List Price |
$7,100,000 |
| Status |
Active |
| Type |
Residential Income |
| Structure Size |
7,796 |
| Lot Size |
9,452 |
| Year Built |
1925 |
Listing information courtesy of: Douglas Steinriede, Dover Management Corp.. *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.
