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$ 6,349,999
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New
1530 E Broadway Glendale, CA 91205
0.33 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID GD26081657
HOA Y/N No
Year Built 1960
Lot Size 0.327 Acres
Property Sub-Type Multi Family
Property Description
Prime value add investment opportunity in the heart of Glendale located at 1530 E Broadway. This 16 unit apartment building offers a strong in place rent roll with 15 of the 16 units currently occupied, providing immediate cash flow with a current cap rate of approximately 5.25 percent and additional upside potential.
Situated on a 14,306 sq ft lot with approximately 16,000 sq ft of living space, the property features an attractive unit mix of four 3 bedroom 2 bathroom units, four 2 bedroom 2 bathroom units, four 2 bedroom 1 bathroom units, and four 1 bedroom 1 bathroom units. The diverse unit mix supports stable tenancy while allowing for future rent growth across multiple unit types.
The property includes 11 on site parking spaces, with 11 units assigned parking and 5 units without assigned parking, presenting an opportunity to increase income through parking reconfiguration or monetization. Current operations offer a solid income stream while still allowing a new owner to capture rental upside and improve overall returns.
Ideally located near the 134 freeway with immediate access to major retail and employment centers including the Glendale Galleria and the Americana at Brand, the property benefits from strong rental demand and a highly desirable location.
This is a rare opportunity to acquire a well located multi family asset with strong in place income, approximately 5.25% percent cap rate, and clear value add potential in one of Glendale's most sought after rental markets.
Situated on a 14,306 sq ft lot with approximately 16,000 sq ft of living space, the property features an attractive unit mix of four 3 bedroom 2 bathroom units, four 2 bedroom 2 bathroom units, four 2 bedroom 1 bathroom units, and four 1 bedroom 1 bathroom units. The diverse unit mix supports stable tenancy while allowing for future rent growth across multiple unit types.
The property includes 11 on site parking spaces, with 11 units assigned parking and 5 units without assigned parking, presenting an opportunity to increase income through parking reconfiguration or monetization. Current operations offer a solid income stream while still allowing a new owner to capture rental upside and improve overall returns.
Ideally located near the 134 freeway with immediate access to major retail and employment centers including the Glendale Galleria and the Americana at Brand, the property benefits from strong rental demand and a highly desirable location.
This is a rare opportunity to acquire a well located multi family asset with strong in place income, approximately 5.25% percent cap rate, and clear value add potential in one of Glendale's most sought after rental markets.
Location
State CA
County Los Angeles
Area 624 - Glendale-Chevy Chase/E. Glenoaks
Interior
Fireplace No
Laundry Common Area
Building
Lot Description 0-1 Unit/Acre
Story 2
Water Public
Others
Tax ID 5680025032
Special Listing Condition Standard
Listed by Sean Madadian Magic Realty 818-635-3500, DRE #01066622
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