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530 Palm Drive
Glendale, CA 91202


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Property Remarks

We are pleased to introduce to you this rare opportunity to own 16 units in non- rent controlled Glendale, California. The Palm Glen apartments are a very well maintained asset boasting an extensive list of capital improvements over the years including upgrades to interior units. Detailed upgrades list in offering memorandum. Built in 1985, the assets incorporates central AC, subterranean parking and intercom/gated access. Offered already at in place CAP rate of 3.65% the asset also has 15% + loss to lease to further improve the NOI. Glendale has historically low vacancy factor and his in a supply constrained state of mid-sized assets. Situated North of Glenoaks Blvd, Palm Glen is in prime location of town. Walking distance to Elementary, Middle and High Schools. Tenants are within a couple minutes to Downtown Glendale shops and services. With the excellent location, condition and superb fundamentals, The Palm Glen Apartments offer stabilized asset and appealing long term investment opportunity. Contact us for complete Offering Memorandum.

Property Details

MLS#
SR17234588
Days on Market
42
Year Built
1985
Building/Living Area (sq ft)
13,586
Source of Lot Size
Public Records

Location

State
CA
County
Los Angeles
Area
Glendale-Northwest (626)

Presented By:

Listing provided courtesy of Levon Alexanian , Keller Williams World Media Ce


Exterior

Lot Acreage
0
Paved
No
Waterfront
No

Pool
No Pool

Interior

Laundry
Community

Additional Property Details

Number of Units
16
Number of Buildings
1
Total Expense
$126,072
ADA Compliance
No

Lot Description
Sidewalks
Street Lighting
Water
Water District
Public
Sewer
Unknown
Parking
Assigned

Glendale

One of the biggest cities within Los Angeles County, Glendale is an entity unto itself attracting big business, high-end shopping and a vibrant and active community.

Real Estate: Originally built out as a bedroom community with many single-family residences, Glendale real estate has expanded to include many condo and townhome developments. Neighborhoods include Adams Hill, Moorpark, Glenoaks Canyon, and Rossmoyne. Houses for sale here range from traditional Spanish and Craftsman to newer modern architecture.

Community Life: Glendale has many big city attractions. Americana at Brand offers world-class shopping and fine-dining in a luxurious outdoor setting. The retail experience goes on at the nearby Glendale Galleria and all along Brand Boulevard which is also home to the historic Alex Theater.

Education: This area is served by the Glendale Unified School District. Local elementary schools include Balboa Elementary, Cerritos Elementary, Horace Mann Elementary, and John Muir Elementary. There are three public middle schools in Glendale and two high schools as well as a continuing education high school and a home independent study program. Glendale Community College has a college-credit enrollment of about 25,000 day and evening students, and approximately 10,000 others are reached through the adult education program.

Transportation: Glendale is easily accessed by the 134, 2, and 5 Freeways. The Glendale Beeline offers transportation throughout the city. The Larry Zarian Transportation Center is an Amtrak and Metrolink rail station.

Local Attractions: Forest Lawn Memorial Park is a draw for being the resting place of many celebrities including Michael Jackson and it also features an art museum. Beautiful Brand Park includes the Brand Library &Art Center.

Community Explorer

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