Active

1160 Elm Avenue

Glendale CA, 91201

$12,900,000


$474.88 per sqft

Active

27,165 sqft

Condo

Built in 1986

Listed by Levon Alexanian with Keller Williams World Media Center 818-239-3500

$900,000 price reduction! Only $368K per door. 13.9 GRM 5.1% cap going in. We are pleased to be retained for this exclusive marketing assignment of the Elm Terraces in Glendale. This 34+1 n.c. unit apartment community is located in the most-sought rental pocket in all of the city, north of Glenoaks Blvd known as "El Miradero" / Grandview. The demand for rental housing in this pocket provides for historically low levels of vacancy and in turn premium in rental levels. The asset has been within the same family ownership for over 3 decades and presents an opportunity to unlock lock value by either loss to lease capture or a mild modernization update. Comprising mostly of 2+1.5 townhouse units, the Elm Terraces built in 1986, offers several key tenant amenities including individual hot water heaters, controlled intercom, and gated parking, ample parking, and storage. The walkability to a plethora of local shops, services, and cafes is a major benefit of living at the Elm Terraces.

SR24017647

MLS ID

January 29, 2024

Listed

May 25, 2024

Updated

Map

1160 Elm Avenue
Glendale CA, 91201

Interior Features

Total Stories

2


Laundry Description

Common Area


Fireplace

No


Cooling

No


Heating

No

Exterior/Building Features

Lot Size

0.6 Acres


Lot Features

31-35 Units/Acre


Sewer

Public Sewer

Other Property Details

Area Name

626 - Glendale-Northwest


Days on Market

70


Garage

No


Parking Total

0


View

No


County

Los Angeles


Water Source

Private


Pool

No


Pool Features

None


Zoning

GLR4*


Buyer Agency Compensation

1%

Listing History

Date

Event

Price

4/8/2024

Price Change

$12,900,000

-7%

Listing Contact: 818-239-3500 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 5/25/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 5/25/2024 at 1:52 AM UTC

 

Powered byLuxury Presence