16
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$2,750,000
Est. payment /mo
9,486 Sqft Lot
Active
437 W Glenoaks BLD Glendale, CA 91202
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Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRSR25249639
Style Traditional
Year Built 1962
Lot Size 9,486 Sqft
Source California Regional MLS
Property Description
Welcome to Santa Barbara Apartments, an exceptional 9-unit multifamily asset located in the heart of Glendale, CA. Offered for the first time on the market, this well-maintained and recently upgraded property presents a rare opportunity for investors seeking strong in-place income with additional upside potential. The building features (4) two-bedroom units and (5) one-bedroom units, with 8 currently occupied and 1 vacant-ideal for an owner-user or immediate rent growth. Recent improvements include new electric subpanels in every unit, a new main service panel, updated asphalt, fresh exterior paint, upgraded railings, and a new irrigation system, enhancing both performance and curb appeal. Additional amenities include, wall-mounted A/C units, on-site coin-operated laundry, and dedicated parking for 8 of the 9 units. Three apartments have been recently remodeled. Two rent increases are scheduled for December, providing further income growth. Centrally located near major freeways, public transportation, shopping, and dining, this property provides convenience and enduring tenant demand-making it an excellent addition to any investor's portfolio. Current cap rate is 5.06%, with a projected 5.85% cap rate once the vacant unit is leased-an outstanding return for the Glendale market.
Location
State CA
County Los Angeles
Area 626 - Glendale-Northwest
Interior
Heating Wall Furnace
Cooling Window / Wall Unit
Flooring Laminate
Laundry Washer/Dryer - Owned, Community Facility
Exterior
Parking Features Carport , Off-Street Parking
Garage Spaces 8.0
Pool 31, None
View Hills, Local/Neighborhood, Valley, Forest / Woods
Building
Water District - Public
Architectural Style Traditional
Others
Tax ID 5636004024
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