Sold
3459 Montrose Ave
Glendale CA, 91214
$2,900,000
$396.72 per sqft
Sold
15 Beds
9 Baths
7,310 sqft
Multi-family
Built in 1963
Pleased to present 3549 Montrose Avenue, a six-unit multifamily property located in the Crescenta Highlands neighborhood of Glendale, adjacent to both La Crescenta and Montrose. Offered for sale for the first time in 57 years, this property represents a rare, stabilized investment opportunity in north Glendale where multifamily properties rarely transact. Constructed in 1964, this property is comprised of one 4-bedroom/2-bathroom unit, one 3-bedroom/2-bathroom unit, and four 2-bedroom/1 -bathroom townhouse units. The average unit size is 1,200 square feet, offering spacious floorplans suitable for family living, and all units have been renovated at different dates over the last six years. Each unit is also equipped with in-unit washers and dryers, central or split-system HVAC, individual water heaters, and separate meters for gas and electricity. Multiple units have private patios, and all units can enjoy the common area outdoor seating. Most of the units have had their electrical panels upgraded. 3549 Montrose Avenue is an ideal choice for investors seeking a well-maintained, stabilized property with the opportunity to capture over 20% rental upside through interior and exterior renovations. The property's value is further solidified by its R3050 zoning, which only allows for a future development of 4 units on this 12,479 square foot lot. The property includes a third structure which provides tenants with four covered car ports, a single private garage, and storage cabinets. The 4-bedroom unit has its own two-car private garage and there is ample street parking for multiple vehicles. There are also four 240-volt outlets and two 120-volt outlets provided for tenants to install their own EV charging units. The sewer line has been replaced, the property has been replumbed to copper piping, and one of the structures has a newer roof. Situated north of Honolulu Avenue and west of New York Avenue, 3549 Montrose Avenue is conveniently located a couple blocks from the Pennsylvania Avenue exit off the 210 Freeway, offering commuters ease of access to the freeway. Moreover, the property is within a short distance from Montrose Village Square along Honolulu Blvd. and is Montrose's historic Main St. with over 200 independently owned local businesses that offer shoppers high quality gifts, retail merchandise, casual and fine dining, and much more. The property's proximity to this area ensures a high demand for rental units in one of Glendale's most sought-after neighborhoods.
24-360465
MLSⓇ ID
February 20, 2024
Listed
August 23, 2024
Updated
Map
3459 Montrose Ave
Glendale CA, 91214
Interior Features
Total Stories
2
Bedrooms
15
Total Bathrooms
9
Appliances
None
Laundry Description
In Unit
Fireplace
No
Cooling
Yes
Cooling Description
Central
Heating
Yes
Heating Description
Central
Exterior/Building Features
Lot Size
0.29 Acres
Other Property Details
Area Name
La Crescenta/Glendale/Montrose/Sparr Heights
Days on Market
14
Garage
Yes
Garage Spaces
2
Parking
Carport Detached, Garage - 2 Car, Driveway
Parking Total
9
View
No
County
Los Angeles
Pool
No
Zoning
GLR2YY
Listed by Sevak Keshishian with Marcus & Millichap
Listing Contact: 818-726-0922
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 Cari Field Team 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 8/23/2024