311 East Maple Street

Glendale, CA 91205

$2,950,000
Price
10
Beds
10
Baths
7,099 Sq. Ft.
$416 / Sq. Ft.
7,099
Sq. Ft.
$416
per Sq. Ft.

Description

Excellent opportunity to purchase an eight (8) unit apartment building with a significant upside in rental income. 311 E. Maple Street is an 8-unit multifamily property in the desirable southeast area of Glendale, CA. This property provides a tremendous opportunity for an investor to acquire pride in ownership of an asset that has been professionally managed and cared for. As it’s the first time in the market after 39 years of ownership, this is truly an irreplaceable asset to own. The property is...Excellent opportunity to purchase an eight (8) unit apartment building with a significant upside in rental income. 311 E. Maple Street is an 8-unit multifamily property in the desirable southeast area of Glendale, CA. This property provides a tremendous opportunity for an investor to acquire pride in ownership of an asset that has been professionally managed and cared for. As it’s the first time in the market after 39 years of ownership, this is truly an irreplaceable asset to own. The property is a two-story building that was constructed in 1974 and consists of two large 2bed and 1.3/4bath units and six 1bed and 1bath units. Large roomy units (Buyer to verify the square footage if required). It also includes thirteen (13) parking spaces that include a combination of a private two (2) car garage, which is being used by the owner as storage currently, eleven (11) surface carport parking spaces, which are used by the tenants, a large on-site laundry room, and very minimal landscaping. Most tenants are on a month-to-month basis, and units are separately metered for gas and electricity. The property is within a short distance to multiple bus stops located on Glendale Avenue and Brand Boulevard, in addition to nearby retail shops and businesses. It provides tenants with ease of access to larger retail centers located at the Glendale Galleria, the Americana of Glendale, and Atwater Village. Tenants also have easy access and proximity to the 134 and 5 Freeways. Buyers might explore the opportunity to convert the two-car private garage into an ADU, this could be a great opportunity to boost future rental revenue and income stream, raising the overall value of the investment. Buyer to verify with the city for associated ADU conversion requirements. The roof was replaced/refinished in 2018 with TPO compound material and has a 20-year warranty. Newly painted building.
  1. Listed by Vahik Beglarian • DRE #00941552 • Brokerage DRE #01079007 • Coldwell Banker Hallmark • 818-203-5471

Property Details for 311 East Maple Street

View
None
Parking Spaces Total
14
Private Pool
No
Total Units
8.0
Lot Size Source
Assessor
Property Attached YN
false
Common Walls
No Common Walls
New Construction
No

Location

Listing Courtesy of Coldwell Banker Hallmark, Vahik Beglarian, DRE #00941552
Add your commute
LISTING UPDATED: 04/22/2024 08:10 AM

Property Details for 311 East Maple Street

StatusActive
MLS #GD23226348
Days on Market132
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1974
Lot Size0.20 AC / 8,752 SF
CountyLos Angeles County

Location

Listing Courtesy of Coldwell Banker Hallmark, Vahik Beglarian, DRE #00941552
Add your commute

Building Information for 311 East Maple Street

Stories2Residences-Year Built1974Building Size-Lot Size0.20 AC / 8,752 SF

Payment Calculator

$16,099 per month

30 year fixed, 7.25% Interest

Principal and Interest

$16,099

Property Taxes

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 311 East Maple Street

Rental Info
Rental Info
  • Tenant Pays: Electricity, Gas
Income / Expense / Tax Details
Income Details
  • Gross Income: $199,548
  • Gross Scheduled Income: $198,528
  • Gross Spendable Income: $199,548
  • Vacancy Allowance: 0
  • Gross Operating Income: $199,548
  • Net Operating Income: $143,591
  • Number Of Rented Garages: 0
  • Laundry Income: $1,020
  • Gross Multiplier: 14.79
  • Cap Rate: 4.86
Expense Details
  • Operating Expense: $55,957
  • New Taxes Expense: $36,875
  • Gardener Expense: $1,035
  • Fuel Expense: $2,400
  • Licenses Expense: $250
  • Pest Control Expense: $480
  • Electric Expense: $1,562
  • Insurance Expense: $3,935
  • Maintenance Expense: $2,000
  • Professional Management Expense: $0
  • Other Expense: $465
  • Other Expense Description: F/Exting
  • Trash Expense: $4,955
  • Water Sewer Expense: $2,000
  • Total Expenses: $55,957
Tax / Assessment Info
  • Tax Tract Number: 4657
  • Tax Census Tract: 3022.02
  • CFD/Mello-Roos Fee: $1,130
  • Tax Lot: 152
Community / Development
Community / Development
  • Community Features: Street Lights
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area
  • Laundry Equipment Own Lease: Own
  • Heating: Radiant
  • Heat Equipment: Radiant
Exterior Features
  • Entry Location: street,driveway
  • Property Condition: Updated/Remodeled
  • Pool Features: None
  • Pool: N/K
  • Spa Features: None
Land/Lot Info
  • Lot Features: Landscaped, Level with Street, Sprinklers In Front
  • Direction Faces: North
  • Land Lease: No
  • Topography: Level
  • Levels: One
  • Sewer: Public Sewer
  • Utilities: Cable Connected, Electricity Available, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
  • Electric: 220 Volts
  • Water Source: Public
Parking Info
  • Garage Spaces: 2
  • Parking: Yes
  • Carport Spaces: 12
  • Parking Features: Assigned, Carport, Attached Carport, Detached Carport, Driveway, Garage - Two Door
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,389
  • Unit Type Total Rent: $2,389
  • Unit Type Pro Forma: 2700
  • 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: $1,911
  • Unit Type Total Rent: $1,911
  • Unit Type Pro Forma: 2200
  • Unit Type Type: 2
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: $1,868
  • Unit Type Total Rent: $1,868
  • Unit Type Pro Forma: 2200
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,355
  • Unit Type Total Rent: $2,355
  • Unit Type Pro Forma: 2700
  • Unit Type Type: 4
Unit 5
  • 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: $1,911
  • Unit Type Total Rent: $1,911
  • Unit Type Pro Forma: 2200
  • Unit Type Type: 5
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: 2
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,985
  • Unit Type Total Rent: $1,985
  • Unit Type Pro Forma: 2200
  • Unit Type Type: 6
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: $1,950
  • Unit Type Total Rent: $1,950
  • Unit Type Pro Forma: 2200
  • Unit Type Type: 7
Unit 8
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,175
  • Unit Type Total Rent: $2,175
  • Unit Type Pro Forma: 2200
  • Unit Type Type: 8
Unit Information
  • Number Of Units Leased: 8
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 8
  • Number With Dishwasher: 8
  • Number With Range: 8
  • Number With Refrigerator: 0
  • Number With Disposal: 8
  • Number With Patio: 0

Property History for 311 East Maple Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Schools near 311 East Maple Street

This home is within Glendale Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Horace Mann Elementary School
PublicK to 5

Theodore Roosevelt Middle School
Public6 to 8

Glendale High School
Public9 to 12

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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311 East Maple Street is a multi-family home for sale in Glendale, CA 91205. This property was listed for sale on December 18, 2023 by Coldwell Banker Hallmark, it's currently listed at $2,950,000. This listing's school district is Glendale Unified School District. Nearby schools include Horace Mann Elementary School, Theodore Roosevelt Middle School and Glendale High School. 311 East Maple Street is a 10-bed, 10-bath, 7,099 sqft multi-family home built in 1974.

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 Coldwell Banker Hallmark, Vahik Beglarian, DRE #00941552

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.