Sold

3459 Montrose Avenue

Glendale CA, 91214

$2,900,000


$396.72 per sqft

Sold

15 Beds

9 Baths

7,310 sqft

Residential

Built in 1963

Listed by Sevak Keshishian with Marcus & Millichap 818-212-2700

Pleased to present 3549 Montrose Avenue, a six-unit multifamily property located in the Crescenta Highlands neighborhood of Glendale, adjacent to both La Crescenta and Montrose. Offered for sale for the first time in 57 years, this property represents a rare, stabilized investment opportunity in north Glendale where multifamily properties rarely transact. Constructed in 1964, this property is comprised of one 4-bedroom/2-bathroom unit, one 3-bedroom/2-bathroom unit, and four 2-bedroom/1 -bathroom townhouse units. The average unit size is 1,200 square feet, offering spacious floorplans suitable for family living, and all units have been renovated at different dates over the last six years. Each unit is also equipped with in-unit washers and dryers, central or split-system HVAC, individual water heaters, and separate meters for gas and electricity. Multiple units have private patios, and all units can enjoy the common area outdoor seating. Most of the units have had their electrical panels upgraded. 3549 Montrose Avenue is an ideal choice for investors seeking a well-maintained, stabilized property with the opportunity to capture over 20% rental upside through interior and exterior renovations. The property's value is further solidified by its R3050 zoning, which only allows for a future development of 4 units on this 12,479 square foot lot. The property includes a third structure which provides tenants with four covered car ports, a single private garage, and storage cabinets. The 4-bedroom unit has its own two-car private garage and there is ample street parking for multiple vehicles. There are also four 240-volt outlets and two 120-volt outlets provided for tenants to install their own EV charging units. The sewer line has been replaced, the property has been replumbed to copper piping, and one of the structures has a newer roof. Situated north of Honolulu Avenue and west of New York Avenue, 3549 Montrose Avenue is conveniently located a couple blocks from the Pennsylvania Avenue exit off the 210 Freeway, offering commuters ease of access to the freeway. Moreover, the property is within a short distance from Montrose Village Square along Honolulu Blvd. and is Montrose's historic Main St. with over 200 independently owned local businesses that offer shoppers high quality gifts, retail merchandise, casual and fine dining, and much more. The property's proximity to this area ensures a high demand for rental units in one of Glendale's most sought-after neighborhoods.

24360465

MLS ID

February 20, 2024

Listed

March 28, 2024

Updated

Map

3459 Montrose Avenue
Glendale CA, 91214

Interior Features

Total Stories

2


Bedrooms

15 Beds


Bathrooms

9 Baths


Fireplace

No


Cooling

Yes


Cooling Description

Central Air


Heating

Yes


Heating Description

Central

Exterior/Building Features

Lot Size

0.29 Acres

Other Property Details

Area Name

635 - La Crescenta/Glendale Montrose & Annex


Days on Market

14


Garage

Yes


Garage Spaces

2


Parking

Door-Multi, Detached Carport, Driveway, Garage


Parking Total

9


View

No


County

Los Angeles


Pool

No


Zoning

GLR2YY


Buyer Agency Compensation

2%

Listing History

Date

Event

Price

3/18/2024

Sold

$2,900,000

3/6/2024

Under Contract

Listing Contact: 818-212-2700 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 3/28/2024. 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.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 3/28/2024 at 3:17 PM UTC

 

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