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107 N Columbus Avenue

Glendale, CA 91203

– beds
– baths
– sqft
9,449 sqft lot
1925 build
– on site

Graceland Apartments, located at 107 N. Columbus Avenue, is a 13-unit historic American Four Square asset, located one block from the Glendale Americana. Current ownership has spent over one million dollars on capital improvements, including new electrical system, plumbing, and roofs. Spread across two parcels, Graceland Apartments has a strong unit mix, comprised of (2) 2 BD/1 BA, (6) 1 BD/1 BA, and (5) studios. Boasting spacious floorplans, the majority of the units have been thoughtfully restored to capitalize on the strong tenant base in the area. Current ownership has implemented a RUBS program across all units to improve operational efficiencies, allowing new ownership to operate the asset at a sub 30% expense ratio. Ten existing garages provide current income and also have the potential to be converted into (3) 2 BD/1 BA ADUs (approx. 700 SF each) for additional rental revenue of approximately $34,605 annually. Based on estimates, a new owner can achieve a return on cost of nearly 333%. by raising rents to market and investing into ADU construction.

Listed By CRMLS_CA / Robert Stepp / Keller Williams - Santa Monica / 310-463-2916

Last checked: Checking… • Last updated Oct 29, 2024 •

MLS# PW23169667 —

The Building

Year Built:

1925
Year Built Source:

Assessor
New Construction:

No
Building Area Total:

7796.00
Building Area Units:

Square Feet
Total Number Of Units:

13
# of Buildings:

3
Stories Total:

2
Entry Level:

1
Common Walls:

2+ Common Walls
# of Separate Gas Meters:

13
# of Separate Water Meters:

1
# of Separate Electric Meters:

13

Interior

Entry Location:

1
Laundry:

Inside
Laundry:

1

Location

Directions:

W Wilson Ave & N Columbus Ave
Latitude:

34.14726400
Longitude:

-118.26160900

The Property

Property Type:

Residential Income
Subtype:

Commercial/Residential
Zoning:

GLC3*
Lot Features:

11-15 Units/Acre
Lot Size Area:

9449.0000
Lot Size Acres:

0.2169
Lot Size SqFt:

9449.00
Lot Size Source:

Assessor
Property Attached:

1
Additional Parcels:

No
Land Lease:

No

Listing Agent

Contact info:

Taxes

Tax Census Tract:

3018.02
Tax Tract:

752
Tax Lot:

20

The Listing

Special Listing Conditions:

Standard
Parcel Number:

5637015023

Utilities

Sewer:

Public Sewer
Water Source:

Public

The Community

Features:

Sidewalks
Pool:

None
Senior Community:

No
Private Pool:

No

Parking

Parking Spaces:

10.00
Garage Spaces:

10.00

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Sale history

Date	Event	Source	Price	% Change
9/11/23 Sep 11, 2023	Listed / Active	CRMLS_CA	$7,100,000

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This multifamily located in City Center, Glendale, CA 91203 is currently for sale for $7,100,000. 107 N Columbus Avenue is a – square foot multifamily with – beds and – baths that has been on Estately for 467 days. 107 N Columbus Avenue is in the City Center neighborhood of Glendale and has a WalkScore® of 92, making it a walker’s paradise. This multifamily is in the attendance area of Eleanor J. Toll Middle School, Herbert Hoover Senior High School, and Christopher Columbus Elementary School.

Listing Courtesy of: CRMLS_CA and Keller Williams - Santa Monica. Based on information from California Regional Multiple Listing Service, Inc. as of 21:59 on Dec 21.

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, 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.