Description

601 E Acacia Avenue is a charming three-story, 12-unit multifamily property located on a 15,256 SF lot zoned GLR4.Built in 1961, the building spans 21,315 SF and boasts a beautiful courtyard design. The property offers 18 covered parking spaces, as well as street parking, making it an attractive option for residents. The unit mix is highly desirable, comprising of 1 one-bedroom/one-bathroom unit, 9 two-bedroom/one-bathroom units, and 2 three-bedroom/two-bathroom units. Two units have private covered patios, including one with a fenced backyard, providing a tranquil outdoor space for residents to enjoy. The property has undergone recent renovations, including the installation of modern HVAC wall units, new electrical systems, and a convenient communal laundry facility. Additionally, the property has acquired a renovated roof, solar panels have been removed, and recently upgraded to copper plumbing, making way for additional storage in the garage areas for tenants to appreciate. The garage spaces also offer a potential opportunity for savvy investors to construct an Accessory Dwelling Unit (ADU),providing a unique chance to increase revenue and diversify the property's income streams. Located in the heart of Glendale, this property is a short drive from the I-5 and I-2 Freeway. Additionally,601 E Acacia Avenue is ideally located within minutes of an abundance of restaurants, grocery stores, bakeries, coffee and tea shops, including the infamous Americana at Brand in downtown Glendale. Given the property's stable real estate fundamentals and prime location within the submarket of Glendale,601 E Acacia Avenue is a solid investment for an investor seeking growth, stability, and a hedge against inflation.