Active

559 Glenwood Rd

Glendale CA, 91202

$2,400,000


$361.34 per sqft

Active

13 Beds

6,642 sqft

Residential

Built in 1952

559 Glenwood Rd is a seven-unit multifamily property stands out as a rare find in a sought-after residential area, promising both stability and growth potential for investors.Located on the strategic corner of Clement Dr & Glenwood Rd, the property benefits from its proximity to key educational institutions and is nestled in an affluent neighborhood that boasts a high average household income. Its accessibility to Downtown Glendale, major shopping centers like the Glendale Galleria, and essential freeways positions it as an ideal residential choice for a wide range of tenants.The building is currently fully occupied, featuring a mix of one single and six two-bedroom units with six parking garages, each with dedicated parking. Recent rent adjustments have been implemented, affirming the property's strong income generation capability. Despite its well-maintained status, highlighted by quality interior finishes such as hardwood flooring and recessed lighting, the property offers significant upside potential. With most units rented below market rates, strategic upgrades and unit turnovers could lead to an increase in rental income by over 45%.Offered at a competitive price per unit and per square foot, this investment presents a rare opportunity to enter or expand in the Glendale market. The combination of its location, full occupancy, and untapped value-add potential, set against a backdrop of limited market inventory, makes it a compelling choice for those looking to invest in a thriving residential rental market.

24-374047

MLS ID

March 26, 2024

Listed

April 5, 2024

Updated

Map

559 Glenwood Rd
Glendale CA, 91202

Interior Features

Total Stories

2


Bedrooms

13 Beds


Appliances

None


Fireplace

No


Cooling

Yes


Cooling Description

Wall Unit(s)


Heating

Yes


Heating Description

Wall

Exterior/Building Features

Lot Size

0.24 Acres

Other Property Details

Area Name

Glendale-Northwest


Days on Market

8


Garage

Yes


Parking

Garage


Parking Total

6


View

No


County

Los Angeles


Pool

No


Zoning

GLR4YY

Listed by Neema Ahadian with Marcus & Millichap
Listing Contact: 310-909-5444 

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 4/5/2024

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