2243 MERTON AVE Los Angeles CA 90041-1914

oversized, 37,833 square foot lot. Built in 1950 & 1957, the unit mix consists of one studio unit, approximately 605 SF, 23 (one-bedroom/one-bathroom) units, approximately 769 SF, three (two-bedroom/one-bathroom) units, approximately 975 SF and one (three-bedroom/two-bathroom) unit, approximately 1,100 SF, with hardwood flooring in all units. Glenrock Gardens has been owned and meticulously managed by the same family for 30 years. The property features copper piping in approximately 90% of the building, a repaved parking lot and driveway, and many additional significant upgrades. Especially notable is the property’s steady occupancy and 100% collections since COVID-19 – a true testament to the desirable location, quality of the asset and stable tenant profile. In addition to the property photos in this marketing package, please visit the property’s website: glenrockgardens.com

• A RARE OFFERING Only 3.3% of Multifamily Buildings are 20 Units or More in the 90041 Zip Code
• LARGE ONE BEDROOMS WITHIN THE COMPETITIVE SET 797 SF Average Unit Size, Offering Unmatched Layouts and Size
• GENERATIONAL OPPORTUNITY Long Term Ownership – Family Owned and Operated, on the Market for the First Time in Over 30 Years
• RECENT CAPITAL IMPROVEMENTS Updated Plumbing, New Landscaping, Recent Parking Lot Improvements and a Comprehensive Renovation to the Entire Property in 2010
• METICULOUSLY MANAGED AND WELL-MAINTAINED WHILE STILL OFFERING RENTAL UPSIDE Current Ownership has Attentively Owned and Operated the Property Leaving an Excellent Physical Plant for a New Buyer to Continue Operations and Make Further Interior & Exterior Improvements
• LOW DENSITY COMMUNITY Situated on a 37,833 SF Lot, Glenrock Gardens is Aligned with the Evolving Needs of Today’s Renters – a Low Density Suburban Area with Large Common Area Outdoor Space
• POTENTIAL ADU OPPORTUNITY Based on an ADU Feasibility Study Provided by Design MNichols, the Subject Property has a High Potential for ADU Development, that Allows for Seven Potential Attached ADUs (25% of Existing Units) - Buyer to Verify