1160 Elm Avenue

Glendale, CA 91201

$12,900,000
Price
5
Beds
50
Baths
27,165 Sq. Ft.
$475 / Sq. Ft.
27,165
Sq. Ft.
$475
per Sq. Ft.

Description

$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...$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.
  1. Listed by Levon Alexanian • DRE #00911091 • Brokerage DRE #01521876 • Keller Williams World Media Center • info@alexanianadvisors.com

Property Details for 1160 Elm Avenue

Parking Spaces Total
0
Private Pool
No
Total Units
34.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
27165
Assessor Parcel Number
5621-034-029
Property Attached YN
true

Location

Listing Courtesy of Keller Williams World Media Center, Levon Alexanian, DRE #00911091
Add your commute
LISTING UPDATED: 04/08/2024 03:44 AM

Property Details for 1160 Elm Avenue

StatusActive
MLS #SR24017647
Days on Market89
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1986
CountyLos Angeles County

Location

Listing Courtesy of Keller Williams World Media Center, Levon Alexanian, DRE #00911091
Add your commute

Building Information for 1160 Elm Avenue

Building/Complex1160 Elm AveFloor-Stories2Residences-Pet Policy-Year Built1986Building Size-

Payment Calculator

$76,637 per month

30 year fixed, 7.25% Interest

Principal and Interest

$70,401

Property Taxes

$6,236

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1160 Elm Avenue

Income / Expense / Tax Details
Income Details
  • Gross Income: $77,005
  • Gross Scheduled Income: $921,060
  • Net Operating Income: $650,767
  • Gross Multiplier: 13.9
  • Cap Rate: 5.1
Expense Details
  • Operating Expense: $254,812
  • Fuel Expense: $0
  • Electric Expense: $0
  • Insurance Expense: $0
  • Professional Management Expense: $0
  • Trash Expense: $0
  • Water Sewer Expense: $0
  • Total Expenses: $254,812
Tax / Assessment Info
  • Tax Tract Number: 4733
  • Tax Census Tract: 3015.02
  • CFD/Mello-Roos Fee: $2,927
  • Tax Lot: 25
Community / Development
Community / Development
  • Community Features: Biking, Curbs, Hiking
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area
Exterior Features
  • Entry Location: .
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: 31-35 Units/Acre
  • Number Of Units: 34
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Private
  • Sewer: Public Sewer
  • Water Source: Private
Parking Info
  • Garage Spaces: 0
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
Unit Information
Unit 1
  • Unit Type Units Total: 16
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,360
  • Unit Type Total Rent: $2,360
  • Unit Type Pro Forma: 2850
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 4
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,348
  • Unit Type Total Rent: $2,348
  • Unit Type Pro Forma: 2775
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 14
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,979
  • Unit Type Total Rent: $1,979
  • Unit Type Pro Forma: 2300
  • Unit Type Type: 3
Unit Information
  • Rent Controlled: No
  • Number Of Buildings: 4
  • Number Of Separate Electric Meters: 35
  • Number Of Separate Gas Meters: 35
  • Number Of Separate Water Meters: 35

Property History for 1160 Elm 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 1160 Elm Avenue

Taxable ValueLand$2,739,530Additions$3,904,691Total$6,644,221
Tax Record2023$74,828 ($6,236 / month)
Home Facts
Total Finished SqFt27,165 SqFtAbove Grade Finished SqFt27,165 SqFtLot Size26,325 SqFtStyleMulti-Family Res (5+ Units)Year Built1986ZoningGLR4*CountyLOS ANGELESAPN5621-034-029

Schools near 1160 Elm Avenue

This home is within Glendale Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Public - 6 to 8
Public - 9 to 12
Public - K to 6
Rating
School
Distance
Balboa 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.

Similar Homes

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1160 Elm Avenue is a multi-family home for sale in Glendale, CA 91201. This property was listed for sale on January 29, 2024 by Keller Williams World Media Center, it's currently listed at $12,900,000. It has been on the market for a total of 89 days and was last sold on September 29, 2016. This listing's school district is Glendale Unified School District. Nearby schools include Balboa Elementary School, Eleanor J. Toll Middle School and Herbert Hoover High School. 1160 Elm Avenue is a 5-bed, 50-bath, 27,165 sqft multi-family home built in 1986.

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 Keller Williams World Media Center, Levon Alexanian, DRE #00911091

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.