559 Glenwood Road
559 Glenwood Road
$2,400,000
13
7.25
6,642
6,642
$361
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.
- Listed by Neema Ahadian • DRE #01346750 • Brokerage DRE #01240999 • Marcus & Millichap
Property Details for 559 Glenwood Road
Zoning
GLR4YY
Parcel Number5634013027
Total Units7.0
Living Area6642
Source Living AreaVendor Enhanced
AreaGlendale-Northwest (626)
Vacancy Rate100
Lot Size Area10508
Location
LISTING UPDATED: 04/03/2024 12:01 AM
Property Details for 559 Glenwood Road
Status | Active |
---|---|
MLS # | 24-374047 |
Days on Market | 33 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1952 |
Lot Size | 0.24 AC / 10,508 SF |
County | Los Angeles County |
Location
Building Information for 559 Glenwood Road
Stories2Residences-Year Built1952Building Size-Lot Size0.24 AC / 10,508 SF
Payment Calculator
$13,913 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 559 Glenwood Road
Property History for 559 Glenwood Road
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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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.
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