615 S Columbus Avenue, Glendale, CA 91204 (MLS # PW23169851)

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PRICE $6,400,000 dsIDX morgage calculator
BEDS n/a
BATHS 0
HOME SIZE 8,620 sqft
LOT SIZE 18,592 sqft

California Court Bungalows, located at 615 S. Columbus Avenue, is a tastefully restored 13-unit California bungalow courtyard style asset located five blocks from the Glendale Americana. Current ownership has spent over $700,000 on capital improvements including new electric, plumbing and exterior work. The property is comprised of (12) 1 BD/1 BA units and (1) studio. All of the spacious units have been thoughtfully renovated to capitalize on the area’s strong tenant base. 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. Eight existing garages and (5) surface spaces provide current income, and also have the potential to be converted into three (3) ADUs for additional rental revenue of approximately $34,605. Based on estimates, a new owner can achieve a return on cost of nearly 270% by raising rents to market and completing additional investment into the ADU construction. 615 S. Columbus Avenue offers a fully assumable loan at 5.18% with 5 years of fixed financing and 2 years of interest only payments remaining.

DAYS ON MARKET 416 LAST UPDATED 8/12/2024
YEAR BUILT 1923 COMMUNITY Glendale-South of 134 Fwy
GARAGE SPACES 8.0 COUNTY Los Angeles
STATUS Active PROPERTY TYPE(S) Residential Income


ADDITIONAL DETAILS
AREA Glendale-South of 134 Fwy
GARAGE Yes
LOT 0.43 acre(s)
LOT DESCRIPTION 11-15 Units/Acre
POOL DESCRIPTION None
SEWER Public Sewer
STORIES 1
WATER Public
ZONING GLR4YY
MORTGAGE CALCULATOR
   

TOTAL MONTHLY PAYMENT

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Listed with Keller Williams - Santa Monica

The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. as of 10/31/24 2:26 AM PDT and /or other sources. 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

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