Description

We are pleased to present a 20-unit apartment building located near the border of the Eagle Rock and Glassell Park neighborhoods in Los Angeles, California. This property is conveniently located directly adjacent to a large stand-alone Target Store on Eagle Rock Boulevard just south of York Boulevard. Adjacent to the east is The Perch Apartments, a newly built 59-unit modern apartment building with ground-floor retail. The York Boulevard exit ramp is a major on and off-ramp from the Glendale 2-Freeway and helps provide quick access to all major local freeway systems including the 110 Downtown/LA Freeway, the Pasadena 134 Freeway, and the Interstate 5- Freeway. The property consists of 20 units plus an office space. The unit mix is as follows: 4 two-bedroom one-bath, 14 one-bedroom one-bath, 1 two-bedroom two-bath, a guest quarters unit, and an office suite. Both the guest quarters and office suite are not allowed to be rented as conforming residential units, and as such no rental income has been applied to the gross income figures. As a value-added measure, an investor may choose to convert these units into ADUs for additional income if the city permits. At a list price of $200,000 per unit, this property is one of the lowest-priced per-unit properties in the Eagle Rock/Glassell Park submarkets.