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530 Palm Drive, Glendale, CA 91202

$6,700,000 Sale Pending

  • For Sale
  • Pending
  • Multi-Family
  • Updated 11 days ago
530 Palm Drive, Glendale, CA 91202 View this property at 530 Palm Drive, Glendale, CA 91202
530 Palm Drive Glendale CA 91202

Property Description

We are pleased to introduce to you this rare opportunity to own 16 units in non- rent controlled Glendale, California. The Palm Glen apartments are a very well maintained asset boasting an extensive list of capital improvements over the years including upgrades to interior units. Detailed upgrades list in offering memorandum. Built in 1985, the assets incorporates central AC, subterranean parking and intercom/gated access. Offered already at in place CAP rate of 3.63% the asset also has 15% + loss to lease to further improve the NOI. Glendale has historically low vacancy factor and his in a supply constrained state of mid-sized assets. Situated North of Glenoaks Blvd, Palm Glen is in prime location of town. Walking distance to
Elementary, Middle and High Schools. Tenants are within a couple minutes to Downtown Glendale shops and services. With the excellent location, condition and superb fundamentals, The Palm Glen Apartments offer stabilized asset and appealing long term investment opportunity. Contact us for complete Offering Memorandum.

Full Property Details for 530 Palm Drive

  • Price: $6,700,000
  • Status: Pending
  • Type: Multi-Family
  • MLS ID: SR17234588
  • Updated: 12/6/2017
  • Added: 67 day(s) ago

Property History

  • 530 Palm Drive, Glendale, CA
  • Listed at $6,700,000 on 10/12/17

Rooms

Other Rooms

  • Laundry: Community

Additional Information

  • Pool Description: None

Parking

  • Parking Features: Assigned
  • Parking: Assigned

Location

  • Area: 626 - Glendale-Northwest
  • County: Los Angeles
  • Development Name: 626 - Glendale-Northwest
  • Driving Directions: North of Glenoaks Blvd, West of Pacific Ave, South of Kenneth Rd

Utilities

  • Water: Public
  • # Water Meters: 1
  • # Gas Meters: 17
  • # Electric Meters: 17

Structural Information

  • Stories/Levels: Two
  • Stories Description: Two
  • Square Feet: 13,586
  • Year Built: 1985

Unit Information

Unit 1

  • Number of Units: 8
  • Total Bathrooms: 1
  • Bedrooms: 1

Unit 2

  • Number of Units: 7
  • Total Bathrooms: 2
  • Bedrooms: 2

Unit 3

  • Number of Units: 1
  • Total Bathrooms: 2
  • Bedrooms: 3

Lot Features

  • Lot Size (Sq. Ft.): 11,990
  • Lot Size Source: Assessor
  • Zoning: GLR4*
  • Lot Description: 16-20 Units/Acre

Financial Considerations

  • Price Per Sq. Ft.: $493.15

Listed by Keller Williams World Media Ce, Levon Alexanian

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Estimate the Cost

530 Palm Drive will cost you if you:

  • Buy it at list price: $
  • Put down a % down payment : $
  • Pay at a interest rate over

  • Pay $ per year in insurance and $ per year in property taxes.

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*These costs are estimates, and the interest rates assume exceptional credit standing.

In the Community

Nearby Schools

530 Palm Drive, Glendale, CA 91202 (MLS# SR17234588) is a Multi-Family property with 16 units containing 0 bedrooms and 0 full bathrooms. 530 Palm Drive is currently listed for $6,700,000 and was received on October 12, 2017. Want to learn more about 530 Palm Drive? Do you have questions about finding other Multi-Family real estate for sale in Glen-Northwest? You can browse all Glen-Northwest real estate or contact a Coldwell Banker agent to request more information.

Listed by Keller Williams World Media Ce, Levon Alexanian