1055 Grover Avenue

1055 Grover Avenue

Glendale, CA 91201

$3,000,000
Price
12
Beds
11
Baths
7,211 Sq. Ft.
$416 / Sq. Ft.
7,211
Sq. Ft.
$416
per Sq. Ft.
a car parked in front of a building
a front view of a building with parking area
a living room with furniture and a table

Description

Unique and Prime investment opportunity 10 units in desirable Glendale Glenoaks area. Pride of ownership, Owns for about 50 years. Due to this long term ownership relationship with great tenants, the current rents have remained very low, leaving about 80% upside in rents Current rents are significantly below market, for 10 units totaling about $151,380 a year. One 3 bed 2 bath, Two 2 bed 1 bath, Five 1 bed 1 bath, Two single. The rents in the area for a 3 bedroom unit can be over $3,000, for 2 bed...Unique and Prime investment opportunity 10 units in desirable Glendale Glenoaks area. Pride of ownership, Owns for about 50 years. Due to this long term ownership relationship with great tenants, the current rents have remained very low, leaving about 80% upside in rents Current rents are significantly below market, for 10 units totaling about $151,380 a year. One 3 bed 2 bath, Two 2 bed 1 bath, Five 1 bed 1 bath, Two single. The rents in the area for a 3 bedroom unit can be over $3,000, for 2 bed $2500 and 1 bed $2000 a month. Some TLC on this property current rents can potentially go up about $252,000 a year. The property is centrally located for commutes, supermarkets, restaurants and schools . Driving distance downtown Los Angeles, Burbank, Montrose, Americana and Glendale Galleria, NOHO district, Old Town Pasadena, and the Rose Parade, JPL. Local LA and Hollywood attractions include the Music Center, Disney Music Hall, and Hollywood Bowl. This 10 units is truly one of a kind and great investment. Per seller, inside 6 units are updated, Has copper plumbing, newer water heater, walk way, all wall heaters and wall A/C’s, about 13 parking, Everything in this area sells quickly, priced right and will not last long in this market.
  1. Listed by Vartan Markarian • DRE #01059771 • Brokerage DRE #01059771 • Markarian Realty • MarkarianRealty@gmail.com

Property Details for 1055 Grover Avenue

Parking Spaces Total
13
Private Pool
No
Cooling Type
Wall/Window
Total Units
10.0
Lot Size Source
Assessor
Property Attached YN
true
Common Walls
1 Common Wall
New Construction
No

Location

Listing Courtesy of Markarian Realty, Vartan Markarian, DRE #01059771
Add your commute
LISTING UPDATED: 03/13/2024 12:17 PM

Property Details for 1055 Grover Avenue

StatusActive
MLS #GD24047499
Days on Market51
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1962
Lot Size0.18 AC / 7,741 SF
CountyLos Angeles County

Location

Listing Courtesy of Markarian Realty, Vartan Markarian, DRE #01059771
Add your commute

Building Information for 1055 Grover Avenue

Stories2Residences-Year Built1962Building Size-Lot Size0.18 AC / 7,741 SF

Payment Calculator

$16,747 per month

30 year fixed, 7.25% Interest

Principal and Interest

$16,372

Property Taxes

$375

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1055 Grover Avenue

Rental Info
Rental Info
  • Tenant Pays: Electricity, Gas
Income / Expense / Tax Details
Income Details
  • Gross Income: $151,380
  • Gross Scheduled Income: $151,380
  • Gross Operating Income: $10,320
  • Net Operating Income: $120,000
  • Laundry Income: $720
Expense Details
  • Operating Expense: $10,320
  • Fuel Expense: $3,120
  • Electric Expense: $0
  • Insurance Expense: $3,000
  • Professional Management Expense: $0
  • Trash Expense: $3,960
  • Water Sewer Expense: $1,800
  • Total Expenses: $11,880
Tax / Assessment Info
  • Tax Tract Number: 8219
  • Tax Census Tract: 3016.01
  • CFD/Mello-Roos Fee: $0
  • Tax Lot: 20
Community / Development
Community / Development
  • Community Features: Curbs
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Community
  • Fireplace Features: See Remarks
  • Cooling: Wall/Window Unit(s)
  • Heating: Wall Furnace
Exterior Features
  • Roof: Flat
  • Entry Location: Ground level
  • Pool Features: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: Yard
  • Land Lease: No
  • Sewer: Public Sewer
  • Electric: Standard
  • Water Source: Public
Parking Info
  • Garage Spaces: 13
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,220
  • Unit Type Total Rent: $1,220
  • Unit Type Pro Forma: 2500
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,250
  • Unit Type Total Rent: $1,250
  • Unit Type Pro Forma: 2000
  • Unit Type Type: 10
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,250
  • Unit Type Total Rent: $1,250
  • Unit Type Pro Forma: 2000
  • Unit Type Type: 2
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,400
  • Unit Type Total Rent: $1,400
  • Unit Type Pro Forma: 3000
  • Unit Type Type: 3
Unit 5
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,000
  • Unit Type Total Rent: $1,000
  • Unit Type Pro Forma: 1500
  • Unit Type Type: 4
Unit 6
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,300
  • Unit Type Total Rent: $1,300
  • Unit Type Pro Forma: 2000
  • Unit Type Type: 5
Unit 7
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,750
  • Unit Type Total Rent: $1,750
  • Unit Type Pro Forma: 2000
  • Unit Type Type: 6
Unit 8
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $950
  • Unit Type Total Rent: $950
  • Unit Type Pro Forma: 1500
  • Unit Type Type: 7
Unit 9
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,215
  • Unit Type Total Rent: $1,215
  • Unit Type Pro Forma: 2500
  • Unit Type Type: 8
Unit 10
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,220
  • Unit Type Total Rent: $1,220
  • Unit Type Pro Forma: 2000
  • Unit Type Type: 9
Unit Information
  • Number Of Units Leased: 10
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 11
  • Number Of Separate Gas Meters: 11
  • Number Of Separate Water Meters: 1

Property History for 1055 Grover Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1055 Grover Avenue

Taxable ValueLand$49,409Additions$263,733Total$313,142
Tax Record2023$4,497 ($375 / month)
Home Facts
Total Finished SqFt7,211 SqFtAbove Grade Finished SqFt7,211 SqFtLot Size7,738 SqFtStyleMulti-Family Res (5+ Units)Year Built1962ZoningGLR4YYCountyLOS ANGELESAPN5623-031-015

Schools near 1055 Grover Avenue

This home is within Glendale Unified School District.
Rating
School
Type
Grades
Distance
Thomas Jefferson Elementary School
Public - K to 6
Eleanor J. Toll Middle School
Public - 6 to 8
Herbert Hoover High School
Public - 9 to 12
Benjamin Franklin Elementary School
Public - K to 6
Rating
School
Distance
Thomas Jefferson Elementary School
PublicK to 6

Eleanor J. Toll Middle School
Public6 to 8

Herbert Hoover High School
Public9 to 12

Benjamin Franklin Elementary School
PublicK to 6

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 1055 Grover Avenue, Glendale, CA 91201

1055 Grover Avenue is a multi-family home for sale in Glendale, CA 91201. This property was listed for sale on March 8, 2024 by Markarian Realty, it's currently listed at $3,000,000. This listing's school district is Glendale Unified School District. Nearby schools include Thomas Jefferson Elementary School, Eleanor J. Toll Middle School and Herbert Hoover High School. 1055 Grover Avenue is a 12-bed, 11-bath, 7,211 sqft multi-family home built in 1962.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Markarian Realty, Vartan Markarian, DRE #01059771

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.