350 Vine Street
Glendale, CA 91204
- – beds
- – baths
- – sqft
- 6,418 sqft lot
- 1965 build
- – on site
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Value Add 5 unit apartment building located in the heart of Glendale in close proximity to the Galleria and Americana. This is a trust sale and the property is being sold in its as-is condition with long term tenants in place and has been priced accordingly. Current rents are approximately 35% of market rents. Drive by only. Do not enter the property or disturb the tenants. Make all offers subject to inspection.The property has significant upside for a buyer with the experience to manage and renovate the property.There are four 2 bedroom 1.5 bath units and one 1 bedroom 1 bath unit. Market rents after renovation are estimated at $2,750/ month each for the 2 bedroom units and $1,750/ month for the one bedroom unit and the stabilized value could be in the range of $2,000,000 which is approximately $400,000/unit and $430/SF using a gross income multiplier of 13. Buyer is advised to conduct their own due diligence with regard to future market rents and value. Buyer should familiarize themselves with State of California AB 1482 and the City of Glendale Rental Rights Program and other laws related to rental increases and relocation assistance. Roll up your sleeves, get to work and create value.
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Last updated Nov 12, 2024
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MLS# P1-18302 —
The Building
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Year Built:1965
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Year Built Source:Public Records
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Common Walls:No Common Walls
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Faces:Northeast
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Building Area Total:4645.00
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# of Buildings:2
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Stories Total:2
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# of Separate Gas Meters:5
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# of Separate Electric Meters:5
Interior
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Levels:Two
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Fireplace:Yes
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Laundry:1
Location
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Directions:Columbus to Vine turn east on Vine.
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Latitude:34.14059500
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Longitude:-118.26005200
The Property
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Property Type:Residential Income
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Subtype:Apartment
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Zoning:GLR4YY
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Lot Features:Sprinklers None
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Lot Size Area:6418.0000
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Lot Size Acres:0.1473
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Lot Size SqFt:6418.00
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Lot Size Source:Public Records
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View:None
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Fencing:None
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Fence:No
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Land Lease:No
Listing Agent
- Contact info:
- No listing contact info available
Taxes
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Tax Lot:13
The Listing
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Special Listing Conditions:Trust
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Parcel Number:5696011011
Heating & Cooling
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Heating:1
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Heating:Wall Furnace
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Cooling:Yes
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Cooling:Wall/Window Unit(s)
Utilities
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Sewer:Public Sewer
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Water Source:Public
Appliances
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Appliances:None
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Included:No
The Community
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Subdivision:Not Applicable
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Subdivision:Not Applicable
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Senior Community:No
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Features:Curbs, Street Lights, Gutters
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Pool:None
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Private Pool:No
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Spa Features:None
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Assessments:No
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Assessments:None
Parking
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Parking:Yes
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Parking:On Site, Parking Space
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Parking Spaces:5.00
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Carport Spaces:5.00
Extra Units
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Average 1 Bed Area:600
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Average 2 Bed Area:1000
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Max Internet Speed
Provided by BroadbandNow®
This is the maximum advertised internet speed available for this home. Under 10 Mbps is in the slower range, and anything above 30 Mbps is considered fast. For heavier internet users, some plans allow for more than 100 Mbps.
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
7/27/24
Jul 27, 2024
|
BRIDGE | $1,199,000 | ||
|
7/1/24
Jul 1, 2024
|
Listed / Active | CRMLS_CA | $1,199,000 |
