$1,370,000
- Beds
- Unknown
- sq ft
- 4,645
350 Vine St, Glendale, CA 91204
350 Vine St
Glendale, CA 91204
- Sold On 9/8/2024
Value Add 5 unit apartment building located in the heart of Glendale in close proximity to the Galleria and Americana. This is a trust sale and the property is being sold in its as-is condition with long term tenants in place and has been priced accordingly. Current rents are approximately 35% of market rents. Drive by only. Do not enter the property or disturb the tenants. Make all offers subject to inspection.The property has significant upside for a buyer with the experience to manage and renovate the property.There are four 2 bedroom 1.5 bath units and one 1 bedroom 1 bath unit. Market rents after renovation are estimated at $2,750/ month each for the 2 bedroom units and $1,750/ month for the one bedroom unit and the stabilized value could be in the range of $2,000,000 which is approximately $400,000/unit and $430/SF using a gross income multiplier of 13. Buyer is advised to conduct their own due diligence with regard to future market rents and value. Buyer should familiarize themselves with State of California AB 1482 and the City of Glendale Rental Rights Program and other laws related to rental increases and relocation assistance. Roll up your sleeves, get to work and create value.
Details
Property type
Apartment
Lot size
6,418 sq ft
Price per sq ft
$259
Year built
1965
Price History
09/06/2024
CRMLS #P1-18302
Sold
$1,370,000
+14.26%
07/27/2024
CRMLS #P1-18302
Pending
$1,199,000
07/01/2024
CRMLS #P1-18302
Listed
$1,199,000
Schools & Community
Neighborhood:
Pacific Edison
Elementary school:
Unknown
Middle school:
Unknown
High school:
Unknown
Community features: Curbs, Street Lights
Community features:
Curbs, Street Lights
Status: Off Market
Tomo last checked: 10/04/2024 at 5:55 PM
Listing updated: 09/30/2024 at 12:02 AM
Listed by: Donald Hinton, Engel & Voelkers La Canada Phone #: (818) 790-6774
MLS: CRMLS #P1-18302
Recently listed in Glendale
$699,000|2 bd|2.5 ba|Condo
$1,299,000|3 bd|2.0 ba|House
$3,100,000|5 bd|3.75 ba|House
$1,295,000|3 bd|1.75 ba|House
$1,595,000|3 bd|2.25 ba|House
$2,995,000|5 bd|5.0 ba|House
$1,850,000|4 bd|4.0 ba|House
$1,989,000|4 bd|4.0 ba|House
$659,000|2 bd|2.0 ba|Condo
$789,000|3 bd|1.5 ba|Townhouse
Explore top cities in California