Active
311 E Maple Street
Glendale CA, 91205
$2,950,000
$415.55 per sqft
Active
7,099 sqft
Condo
Built in 1974
Listed by Vahik Beglarian with Coldwell Banker Hallmark 818-476-3000
Excellent opportunity to purchase an eight (8) unit apartment building with a significant upside in rental income. 311 E. Maple Street is an 8-unit multifamily property in the desirable southeast area of Glendale, CA. This property provides a tremendous opportunity for an investor to acquire pride in ownership of an asset that has been professionally managed and cared for. As it's the first time in the market after 39 years of ownership, this is truly an irreplaceable asset to own.
The property is a two-story building that was constructed in 1974 and consists of two large 2bed and 1.3/4bath units and six 1bed and 1bath units. Large roomy units (Buyer to verify the square footage if required). It also includes thirteen (13) parking spaces that include a combination of a private two (2) car garage, which is being used by the owner as storage currently, eleven (11) surface carport parking spaces, which are used by the tenants, a large on-site laundry room, and very minimal landscaping. Most tenants are on a month-to-month basis, and units are separately metered for gas and electricity. The property is within a short distance to multiple bus stops located on Glendale Avenue and Brand Boulevard, in addition to nearby retail shops and businesses. It provides tenants with ease of access to larger retail centers located at the Glendale Galleria, the Americana of Glendale, and Atwater Village. Tenants also have easy access and proximity to the 134 and 5 Freeways.
Buyers might explore the opportunity to convert the two-car private garage into an ADU, this could be a great opportunity to boost future rental revenue and income stream, raising the overall value of the investment. Buyer to verify with the city for associated ADU conversion requirements.
The roof was replaced/refinished in 2018 with TPO compound material and has a 20-year warranty. Newly painted building.
GD23226348
MLSⓇ ID
December 18, 2023
Listed
May 9, 2024
Updated
Map
311 E Maple Street
Glendale CA, 91205
Interior Features
Total Stories
1
Laundry Description
Common Area
Fireplace
No
Cooling
No
Heating
Yes
Heating Description
Radiant
Exterior/Building Features
Lot Size
0.2 Acres
Lot Features
Sprinklers In Front, Landscaped, Street Level
Sewer
Public Sewer
Other Property Details
Area Name
628 - Glendale-South of 134 Fwy
Days on Market
126
Garage
Yes
Garage Spaces
2
Parking
Attached Carport, Assigned, Carport, Door-Multi, Detached Carport, Driveway, Garage
Parking Total
14
View
No
View Description
None
County
Los Angeles
Water Source
Public
Pool
No
Pool Features
None
Zoning
GLR4*
Buyer Agency Compensation
2.5%
Listing History
Date | Event | Price |
---|---|---|
2/10/2024 | Price Change | $2,950,000 -2% |
2/9/2024 | Price Change | $2,950,000 -2% |
2/7/2024 | Price Change | $2,995,000 -5% |
2/2/2024 | Price Change | $2,995,000 -5% |
Listing Contact: 818-476-3000
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 5/9/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 5/9/2024 at 3:05 PM UTC