A 16 unit apartment complex located in the non-rent controlled City of Glendale, California. The offering provides an investor a tremendous opportunity to acquire a very well- maintained asset with approximately 25% in immediate rental upside, achievable through building/individual unit upgrades and structured rental increases. The property is being offered free and clear of any debt encumbrances. Each unit has their own washer-dryer hook-ups and water heaters. 4 units come with balcony decks and 8 come with large private patios. Some of the units have been recently upgraded with new appliances, carpeting, laminated wood flooring and kitchen/bathroom cabinet re-facing. There are 28 gated subterranean parking spaces. Landlord is responsible for cold water, sewage and trash. Tenant is responsible for hot water, gas and electricity.
Listing provided courtesy of
, Lilly Enterprises, Inc.
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SAINT GEORGE APARTMENTS
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.
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