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615 S Columbus Avenue

Glendale, CA 91204

– beds
– baths
– sqft
~1/2 acre lot
1923 build
– on site

California Court Bungalows, located at 615 S. Columbus Avenue, is a tastefully restored 13-unit California bungalow courtyard style asset located five blocks from the Glendale Americana. Current ownership has spent over $700,000 on capital improvements including new electric, plumbing and exterior work. The property is comprised of (12) 1 BD/1 BA units and (1) studio. All of the spacious units have been thoughtfully renovated to capitalize on the area’s strong tenant base. 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. Eight existing garages and (5) surface spaces provide current income, and also have the potential to be converted into three (3) ADUs for additional rental revenue of approximately $34,605. Based on estimates, a new owner can achieve a return on cost of nearly 270% by raising rents to market and completing additional investment into the ADU construction. 615 S. Columbus Avenue offers a fully assumable loan at 5.18% with 5 years of fixed financing and 2 years of interest only payments remaining.

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

Last checked: Checking… • Last updated Nov 27, 2024 •

MLS# PW23169851 —

The Building

Year Built:

1923
Year Built Source:

Assessor
New Construction:

No
Building Area Total:

8620.00
Building Area Units:

Square Feet
Total Number Of Units:

13
# of Buildings:

6
Stories Total:

1
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:

Pioneer Dr & N Columbus Ave
Latitude:

34.13809900
Longitude:

-118.26127700

The Property

Property Type:

Residential Income
Subtype:

Commercial/Residential
Zoning:

GLR4YY
Lot Features:

11-15 Units/Acre
Lot Size Area:

18590.0000
Lot Size Acres:

0.4268
Lot Size SqFt:

18590.00
Lot Size Source:

Assessor
Property Attached:

1
Additional Parcels:

No
Land Lease:

No

Listing Agent

Contact info:

Taxes

Tax Census Tract:

3023.02
Tax Tract:

3023
Tax Lot:

57

The Listing

Special Listing Conditions:

Standard
Parcel Number:

5696014040

Utilities

Sewer:

Public Sewer
Water Source:

Public

The Community

Features:

Sidewalks
Pool:

None
Senior Community:

No
Private Pool:

No

Parking

Parking Spaces:

13.00
Garage Spaces:

8.00
Uncovered Spaces:

5.00

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	$6,400,000	161.4% (19.6% / YR)
6/19/15 Jun 19, 2015		CRMLS_CA	$2,448,000

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This multifamily located in Pacific-Edison, Glendale, CA 91204 is currently for sale for $6,400,000. 615 S Columbus Avenue is a – square foot multifamily with – beds and – baths that has been on Estately for 467 days. 615 S Columbus Avenue is in the Pacific-Edison neighborhood of Glendale and has a WalkScore® of 89, making it very walkable. This multifamily is in the attendance area of Theodore Roosevelt Middle School, Herbert Hoover Senior High School, and Cerritos Elementary School.

Listing Courtesy of: CRMLS_CA and Keller Williams - Santa Monica. Based on information from California Regional Multiple Listing Service, Inc. as of 22:55 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.