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$ 7,500,000
Est. payment /mo
Active
1502 E Broadway Glendale, CA 91205
0.35 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 26650957
HOA Y/N No
Year Built 1954
Lot Size 0.351 Acres
Property Description
SOLD AS A PORTFOLIO WITH 121 MAYNARD ST. We are pleased to present The MayBro Apartments, a thirty-two-unit multifamily investment opportunity located in the Citrus Grove neighborhood of Glendale. Offered for sale for the first time in nearly 20 years, 121 Maynard St. and 1502 E. Broadway provide an investor with the opportunity to acquire two sixteen-unit apartment buildings on separate parcels with over 15% in rental upside. Constructed in 1954, both properties are comprised of sixteen one-bedroom/one-bathroom units. The average unit sizes at both properties are almost 500 square feet, and most units have been renovated during ownership. Each property has its own on-site laundry room, and all units are separately metered for gas and electricity and have individual hot water heaters. 1502 E. Broadway provides tenants with 20 parking spaces and 121 Maynard St. provides tenants with 12 parking spaces and 12 storage units. There is also an additional owner's storage shed at the rear of 121 Maynard St. Both properties are zoned for R2250. Situated south of E. Broadway, north of Colorado Blvd., and west of S. Verdugo Rd., The MayBro Apartment Portfolio are conveniently located the on-ramp to the 134 and 2 freeways, offering commuters ease of access to North Glendale, San Gabriel Valley, and Downtown Los Angeles. Moreover, the property is within a short distance of Eagle Rock and the variety of local businesses along Colorado Blvd. as well as the Americana and Glendale Galleria. For students, the property is also within a short distance of Glendale Community College and Occidental College in Eagle Rock. The property's proximity to these areas ensures a high demand for rental units.
Location
State CA
County Los Angeles
Area 628 - Glendale-South Of 134 Fwy
Zoning R2250
Interior
Fireplace No
Exterior
Total Parking Spaces 20
Building
Story 2
Others
Tax ID 5680025011
Special Listing Condition Standard
Listed by Marcus & Millichap #01887505
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