559 Glenwood Road

Glendale, CA 91202

$2,400,000
Price
13
Beds
7.25
Baths
6,642 Sq. Ft.
$361 / Sq. Ft.
6,642
Sq. Ft.
$361
per Sq. Ft.

Description

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...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.
  1. Listed by Neema Ahadian • DRE #01346750 • Brokerage DRE #01240999 • Marcus & Millichap

Property Details for 559 Glenwood Road

Zoning
GLR4YY
Parcel Number
5634013027
Total Units
7.0
Living Area
6642
Source Living Area
Vendor Enhanced
Area
Glendale-Northwest (626)
Vacancy Rate
100
Lot Size Area
10508

Location

Listing Courtesy of Marcus & Millichap, Neema Ahadian, DRE #01346750
Add your commute
LISTING UPDATED: 04/03/2024 12:01 AM

Property Details for 559 Glenwood Road

StatusActive
MLS #24-374047
Days on Market33
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1952
Lot Size0.24 AC / 10,508 SF
CountyLos Angeles County

Location

Listing Courtesy of Marcus & Millichap, Neema Ahadian, DRE #01346750
Add your commute

Building Information for 559 Glenwood Road

Stories2Residences-Year Built1952Building Size-Lot Size0.24 AC / 10,508 SF

Payment Calculator

$13,913 per month

30 year fixed, 7.25% Interest

Principal and Interest

$13,098

Property Taxes

$815

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 559 Glenwood Road

Community / Development
Community / Development
  • Number Of Units: 7
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 3
  • Type Of Units: 2 Bed 1 Bath
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $134,593
  • Net Operating Income: $81,965.00
  • Gross Income: $137,340
  • Gross Rent Multiplier: $17.47
  • Total Annual Expense: 52629
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.2412
  • Lot Size Square Feet: 10508
  • Lot Size Dimensions: 75x135
  • Source Lot Size Dimensions: Vendor Enhanced
Parking Details
Parking Details
  • Parking Garage: Garage
  • Total Parking: 6
  • Parking Features: Garage
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Wall Unit(s)
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: None
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 03-28-2024
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,188.00
  • Unit Actual Rent: $1,188.00
  • Unit Projected Rent: $1,500.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,725.00
  • Unit Actual Rent: $1,725.00
  • Unit Projected Rent: $2,500.00
  • Like Units: 5
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,630.00
  • Unit Actual Rent: $1,630.00
  • Unit Projected Rent: $2,700.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $504,066.00
  • Assessed Improvement Percent: 63.01
  • Assessed Land Value: $295,862.00
  • Assessed Land Percent: 36.99
  • Assessed Total Value: $799,928.00

Property History for 559 Glenwood Road

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 559 Glenwood Road

Taxable ValueLand$295,862Additions$504,346Total$800,208
Tax Record2023$9,775 ($815 / month)
Home Facts
Total Finished SqFt6,642 SqFtAbove Grade Finished SqFt6,642 SqFtLot Size10,505 SqFtStyleQuadraplexYear Built1952ZoningGLR4YYCountyLOS ANGELESAPN5634-013-027

Schools near 559 Glenwood Road

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 5
Rating
School
Distance
Balboa Elementary School
PublicK to 6

Eleanor J. Toll Middle School
Public6 to 8

Herbert Hoover High School
Public9 to 12

Mark Keppel Elementary School
PublicK to 5

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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559 Glenwood Road is a multi-family home for sale in Glendale, CA 91202. This property was listed for sale on March 26, 2024 by Marcus & Millichap, it's currently listed at $2,400,000. 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. 559 Glenwood Road is a 13-bed, 7.25-bath, 6,642 sqft multi-family home built in 1952.

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 Marcus & Millichap, Neema Ahadian, DRE #01346750

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.