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Available for only $155,000 per unit, the property allows a new investor to capitalize on approximately 66% rent upside. Energy costs are reduced by the tankless water heaters that have been installed at the building. The current owner has also already completed all seismic retrofit repairs, benefitting a new investor by bringing the property into compliance and saving them from an otherwise costly capital expense. Situated across from Forest Lawn, near the intersection of Fletcher Drive and San Fernando Road, the building allows tenants convenient access to trendy and emerging areas such as Los Feliz, Glendale, Atwater Village, Mount Washington, and Highland Park. The high-end Americana at Brand shopping center and the recently revitalized Glendale Galleria are both within two miles, as are Griffith Park and Occidental College. The multimillion dollar North Atwater East Bank Riverway Project, which would provide a 2.2-mile pathway and connect to the Los Angeles River bike path, is just west of the property.
Property Type(s):
Residential Income
| Last Updated | 3/12/2025 | Year Built | 1963 |
|---|---|---|---|
| Community | Glassel Park | County | Los Angeles |
Price History
| Prior to Mar 12, '25 | $1,995,000 |
|---|---|
| Mar 12, '25 - Today | $1,860,000 |
Additional Details
| AREA | Glassel Park |
|---|---|
| GARAGE | Assigned |
| LOT | 9612 sq ft |
| LOT DIMENSIONS | 50x192 |
| PARKING | Assigned |
| STORIES | 2 |
| ZONING | LARD2 |
Location
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Listed with Marcus & Millichap
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
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