447 W Elk Ave
16-Unit Glendale Multifamily – Stabilized Asset Below Market Comps
Marketing description
16-unit apartment building in Glendale, CA, totaling ±12,704 SF on a 0.27-acre lot. Offered at $5,550,000 with a 4.50% cap rate and $251,019 NOI. Diverse unit mix, prime location near major retail and freeways. Stabilized asset with immediate income and upside potential.
Investment highlights
16-Unit Apartment Building: Property features 16 units totaling ±12,704 square feet, constructed in 1964.
Below Comparable Averages: Offered below recent comparable sales averages, providing value upside.
Diverse Unit Mix: Includes (8) one-bedroom/one-bath, (4) two-bedroom/one-and-a-half-bath, and (4) two-bedroom/two-bath units, appealing to a broad tenant base.
Prime Glendale Location: Situated near major retail destinations including Glendale Galleria and The Americana at Brand.
Excellent Freeway Access: Convenient access to the 5 and 134 Freeways supports strong commuter demand.
Vibrant Neighborhood: Surrounded by a lively mix of dining, shopping, and employment centers in Glendale and neighboring Burbank.
Stabilized Asset: Well-maintained property with current operations reflecting performance near market rents.
Immediate Income Potential: Provides immediate income with potential for incremental upside.
Strong Rental Demand: Located in one of Los Angeles County’s most desirable rental submarkets.
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