CA > Glendale
Glendale, CA 91204,615 S Columbus AVE
Glendale, CA 91204,615 S Columbus AVE
Glendale, CA 91204,615 S Columbus AVE
Glendale, CA 91204,615 S Columbus AVE
Glendale, CA 91204,615 S Columbus AVE
Glendale, CA 91204,615 S Columbus AVE
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Thomas Ryan

Thomas Ryan

+1(909) 334-2049
$ 6,400,000
Est. payment | /mo

12 Beds

13 Baths

8,620 SqFt

Save
$ 6,400,000
Est. payment | /mo
Save

12 Beds

13 Baths

8,620 SqFt

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 8,620 sqft

Price per Sqft $742

MLS Listing ID 25483003

Bedrooms 12

HOA Y/N No

Year Built 1923

Lot Size 0.427 Acres

Property Description

Glendale Court Bungalows, located at 615 S. Columbus Avenue, is a beautifully restored 13-unit California bungalow-style courtyard property, just five blocks from the Glendale Americana. The current owner has invested over $700,000 in capital improvements, including upgrades to electrical systems, plumbing, and exterior features. The property consists of 12 one-bedroom/one-bath units and one studio, all of which have been meticulously renovated to meet the strong tenant demand in the area. A Ratio Utility Billing System (RUBS) has been implemented across all units, boosting operational efficiency and ensuring a sub-30% expense ratio for future ownership. The property also offers eight garages and five surface parking spaces, currently generating income. The garages present a potential opportunity for conversion into three ADUs (Accessory Dwelling Units), which could generate an estimated $34,605 in additional annual rental income. With further investment in ADU construction and adjustments to market rents, a new owner could achieve an impressive return on cost of nearly 270%. ***Assumable financing is available at 5.18%, with 5 years of fixed financing, including 2 years of interest-only payments remaining.***

Location

State CA

County Los Angeles

Area 628 - Glendale-South Of 134 Fwy

Zoning GLR4YY

Interior

Heating Electric

Cooling Electric

Fireplace No

Appliance Dryer, Washer

Exterior

Garage Spaces 8.0

Garage Description 8.0

Attached Garage No

Total Parking Spaces 13

Building

Story 1

Entry Level One

Level or Stories One

New Construction No

Others

Senior Community No

Tax ID 5696014040

Special Listing Condition Standard

California Regional MLS (CRMLS)
Listed by Douglas Steinriede • Dover Management Corp.
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+1(909) 334-2049

thomas@thomasryan.realestate

4016 Grand Ave Suite A # 1082, Chino, CA, 91710, United States

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615 S Columbus AVE