Silva Babaian  Realtor, Real Estate Agent, Granada Hills, CA

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    107 Columbus Avenue, Glendale, CA 91203
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    • MLS#: 25482897 ( )
    • Street Address: 107 Columbus Avenue
    • Viewed: 3
    • Price: $7,100,000
    • Price sqft: $0
    • Waterfront: No
    • Year Built: 1925
    • Bldg sqft: 0
    • Days On Market: 72
    • Additional Information
    • County: LOS ANGELES
    • City: Glendale
    • Zipcode: 91203
    • Provided by: Dover Management Corp.
    • Contact: Douglas Douglas
    • California Regional MLS IDX
    • DMCA Notice
    • 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***
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    Features
    Building Area Total
    1. 7796.00
    Cooling
    1. Electric
    Country
    1. US
    Garage Spaces
    1. 10.00
    Heating
    1. Electric
    Laundry Features
    1. Washer Included
    2. Dryer Included
    Levels
    1. Multi/Split
    Netoperatingincome
    1. 360365.00
    Parcel Number
    1. 5637015023
    Postalcodeplus4
    1. 2504
    Sourcesystemkey
    1. 25-482897:CLAW
    Totalexpenses
    1. 360365.00
    Year Built
    1. 1925
    Zoning
    1. GLC3*
    Headshot for Associate Silva Babaian
    1. Silva Babaian / Realtor
    2. Coldwell Banker Exclusive
    3. CalBRE Lic # 01365805
    4. Mobile: 818.414.6744
    5. Fax: 818.338.5836