Active
615 S Columbus AVE
GLENDALE CA, 91204
$6,400,000
$742.46 per sqft
Active
1 Bed
2 Baths
8,620 sqft
Multi-family
Built in 1923
California Court Bungalows, located at 615 S. Columbus Avenue, is a tastefully restored 13-unit California bungalow courtyard style asset located five blocks from the Glendale Americana. Current ownership has spent over $700,000 on capital improvements including new electric, plumbing and exterior work. The property is comprised of (12) 1 BD/1 BA units and (1) studio. All of the spacious units have been thoughtfully renovated to capitalize on the area s strong tenant base. Current ownership has implemented a RUBS program across all units to improve operational efficiencies, allowing new ownership to operate the asset at a sub 30% expense ratio. Eight existing garages and (5) surface spaces provide current income, and also have the potential to be converted into three (3) ADUs for additional rental revenue of approximately $34,605. Based on estimates, a new owner can achieve a return on cost of nearly 270% by raising rents to market and completing additional investment into the ADU construction. 615 S. Columbus Avenue offers a fully assumable loan at 5.18% with 5 years of fixed financing and 2 years of interest only payments remaining.
PW23169851MR
MLSⓇ ID
September 11, 2023
Listed
September 13, 2024
Updated
Map
615 S Columbus AVE
GLENDALE CA, 91204
Interior Features
Total Stories
1
Bedrooms
1
Total Bathrooms
2
Laundry Description
Inside
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.43 Acres
Sewer
Public Sewer
Other Property Details
Area Name
Glendale-South of 134 Fwy
Days on Market
354
Garage
Yes
Garage Spaces
8
Parking Total
13
View
No
County
Los Angeles
Water Source
Public
Pool
No
Pool Features
None
Zoning
GLR4YY
Listed by Robert Stepp with Keller Williams - Santa Monica
Listing Contact: 310-774-3740
Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Trevino Properties Inc. | CA DRE# 01324975 shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
©2024 Combined L.A./Westside MLS. All rights reserved.
Data last updated 9/13/2024