1404 1408 5th Street

Glendale, CA 91201

| 25032.00 SQ/FT

Offered at $3,920,000

Amazing opportunity to own a gem in the heart of Glendale above Glenoaks'' right next to newly constructed senior center with a park in the middle. In addition, the building is walking distance to blue ribbon Thomas Jefferson Elementary & bus stops. This building was constructed in 1941 & consists of (14) 1+1 bungalow style spacious units with ample parking, i.e. either carport or surface parking, for all residents. This asset has 8,420 SQFT of improvement over a 25,032 SQFT lot & there are 14 carport & 3 surface parking on the premises. Majority of the units have been remodeled with hardwood flooring, newer kitchen cabinets & countertops, ceramic wall & floor tiles in bathroom & kitchen, wall type heating & air conditioning. A few units have been improved with washer/dryer hookups inside the units. The property has a historically high occupancy rate due to its proximity to the great public schools, ideal for families seeking affordable 1-bedroom apartments near great schools. The windows have been replaced in the recent past & the plumbing & electrical are in great operational shape. The new owner can take over & achieve an above market return gradually as units turn in due time & as such will not'' be affected by the pending city Rent control discussion

Additional Information

Property Type: Residential Income, | Status: Active Under Contract | Year Built: 1941 | MLS#: 319000446 | Acres: 0.574700 | Lot Size: 25032.00 | Building Size: 8420 | Interior Features: Granite Counters | Heating Type: Natural Gas | Pool: No

Based on information from California Regional Multiple Listing Service, Inc. as of May 03, 2019 . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

Listing Courtesy of Yessaie George, JohnHart Real Estate